{"id":41447,"date":"2019-11-25T11:06:45","date_gmt":"2019-11-25T03:06:45","guid":{"rendered":"https:\/\/www.imoney.my\/articles\/?p=41447"},"modified":"2019-11-25T11:06:45","modified_gmt":"2019-11-25T03:06:45","slug":"transferwise-launches-malaysia","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia","title":{"rendered":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers"},"content":{"rendered":"<p>Global financial technology company TransferWise launched its operations in Malaysia on November 21. It promises to allow Malaysians to send money to 83 countries at lower rates than international bank transfers.<\/p>\n<p>The value proposition behind TransferWise is that there are no hidden charges; everything is displayed up front. This is due to the company originating in the European Union, where legislators are moving towards more transparency in international money transfers.<\/p>\n<p>One of the most important features is that the service uses the real exchange rate (i.e. the one seen on Google). Unlike other financial services which set their own rates that are only slightly tied to the real exchange rate. Ideally, this means that you always know how much you are sending.<\/p>\n<p>TransferWise also claims to be cheaper to use than banks in Malaysia &#8211; and can be up to 4x lower when sending money to five major markets (the US, UK, continental Europe, Australia, and Singapore).<\/p>\n<p>For example, sending RM 1,000 to the UK costs just RM 7.20 with TransferWise, but costs on average RM34.60 with a bank. This is based on the average prices of five major banks on November 18, 2019.<\/p>\n<p>Prices for sending RM 1,000 on other major routes are:<\/p>\n<ul>\n<li>EUR &#8211; 0.71%<\/li>\n<li>AUD &#8211; 0.72%<\/li>\n<li>HKD &#8211; 0.76%<\/li>\n<li>CAD &#8211; 0.81%<\/li>\n<li>SGD &#8211; 0.84%<\/li>\n<li>NZD &#8211; 0.85%<\/li>\n<li>INR &#8211; 0.88%<\/li>\n<li>USD &#8211; 0.98%<\/li>\n<li>IDR &#8211; 1.10%<\/li>\n<\/ul>\n<p>It also offers to complete most global transfers within 24 hours.<\/p>\n<p>TransferWise\u2019s service in Malaysia is open to individuals. This includes all locals and foreigners who with an Expatriate status. However, due to additional checks required by regulations, foreigners with a Foreign Worker status will only be able to use the service in 2020.<\/p>\n<p>Business transfers are also expected to begin by next year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can now send money to 83 countries at cheaper rates compared to bank transfers.<\/p>\n","protected":false},"author":1,"featured_media":41449,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[216],"tags":[219,490,489],"class_list":["post-41447","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-updates","tag-bi","tag-money-transfer","tag-transferwise"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers<\/title>\n<meta name=\"description\" content=\"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers\" \/>\n<meta property=\"og:description\" content=\"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2019-11-25T03:06:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103123\/transferwise-.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"627\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"iMoney Editorial\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"iMoney Editorial\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia\"},\"author\":{\"name\":\"iMoney Editorial\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\"},\"headline\":\"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers\",\"datePublished\":\"2019-11-25T03:06:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia\"},\"wordCount\":290,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/25103132\\\/transferwise.jpg\",\"keywords\":[\"BI\",\"Money Transfer\",\"TransferWise\"],\"articleSection\":[\"News Updates\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia\",\"name\":\"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/25103132\\\/transferwise.jpg\",\"datePublished\":\"2019-11-25T03:06:45+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\"},\"description\":\"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#primaryimage\",\"url\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/25103132\\\/transferwise.jpg\",\"contentUrl\":\"https:\\\/\\\/static.imoney.my\\\/articles\\\/wp-content\\\/uploads\\\/2019\\\/11\\\/25103132\\\/transferwise.jpg\",\"width\":1200,\"height\":627},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/transferwise-launches-malaysia#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"News Updates\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/category\\\/news-updates\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\",\"name\":\"iMoney Editorial\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"caption\":\"iMoney Editorial\"},\"description\":\"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.\",\"sameAs\":[\"http:\\\/\\\/www.imoney.my\"],\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/author\\\/chinglee\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers","description":"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia","og_locale":"en_US","og_type":"article","og_title":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers","og_description":"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.","og_url":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia","og_site_name":"iMoney Malaysia","article_published_time":"2019-11-25T03:06:45+00:00","og_image":[{"width":1200,"height":627,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103123\/transferwise-.jpg","type":"image\/jpeg"}],"author":"iMoney Editorial","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iMoney Editorial","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#article","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia"},"author":{"name":"iMoney Editorial","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"headline":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers","datePublished":"2019-11-25T03:06:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia"},"wordCount":290,"commentCount":0,"image":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103132\/transferwise.jpg","keywords":["BI","Money Transfer","TransferWise"],"articleSection":["News Updates"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia","url":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia","name":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#primaryimage"},"thumbnailUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103132\/transferwise.jpg","datePublished":"2019-11-25T03:06:45+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"description":"Malaysians can now send money internationally to 83 countries at cheaper rates, compared to international bank transfers.","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#primaryimage","url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103132\/transferwise.jpg","contentUrl":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2019\/11\/25103132\/transferwise.jpg","width":1200,"height":627},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/transferwise-launches-malaysia#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"News Updates","item":"https:\/\/www.imoney.my\/articles\/category\/news-updates"},{"@type":"ListItem","position":3,"name":"TransferWise Launches In Malaysia; Offers Lower Costs For International Bank Transfers"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb","name":"iMoney Editorial","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","caption":"iMoney Editorial"},"description":"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.","sameAs":["http:\/\/www.imoney.my"],"url":"https:\/\/www.imoney.my\/articles\/author\/chinglee"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/41447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=41447"}],"version-history":[{"count":7,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/41447\/revisions"}],"predecessor-version":[{"id":41457,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/41447\/revisions\/41457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/41449"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=41447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=41447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=41447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}