How to make an international payment to Malaysia?

13 Mar 2024 By PAYCEC

Making an international payment to Malaysia is not a simple task, as it involves many factors such as currency type, payment method, cost, time, security and safety. In this article, we will introduce to you some ways to make an international payment to Malaysia and the benefits of PayCEC, a reliable and effective international payment solution provider.

Ways to Make an International Payment to Malaysia

To make an international payment to Malaysia, you need to know the currency type that you want to transfer and the currency type that the recipient wants to receive. The official currency of Malaysia is the Malaysian Ringgit (MYR), but you can also transfer money in other currencies such as US Dollar (USD), British Pound (GBP), Euro (EUR) or digital currencies such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).

After determining the currency type, you need to choose the payment method that suits your needs and purposes. There are many payment methods for international payments to Malaysia, but we will introduce to you four most common ways, which are:

• Bank transfer: This is the traditional and simple way to make an international payment to Malaysia. You just need to have the bank account number of the recipient, the SWIFT code of the receiving bank and the amount to transfer. However, this way also has disadvantages such as high cost, slow time and difficult to track the transaction status. 

• Credit card or debit card: This is the convenient and fast way to make an international payment to Malaysia. You just need to have your credit card or debit card, enter the card information and the amount to transfer. However, this way also has disadvantages such as high cost, may be limited by the amount to transfer and have the risk of fraud or theft of card information. According to a web search, the average cost of a credit card or debit card transfer to Malaysia is about 3-5% of the transaction amount, and the average time is about 1-2 working days.

•  E-wallet: This is the modern and smart way to make an international payment to Malaysia. You just need to have an e-wallet app on your smartphone, link it with your bank account or card, scan the QR code or enter the phone number of the recipient and the amount to transfer. However, this way also has disadvantages such as depending on the support of the e-wallet providers, may be limited by the amount to transfer and have the risk of losing money if you lose your phone or get hacked the app. 

• International payment gateway: This is the optimal and effective way to make an international payment to Malaysia. You just need to have an account with an international payment gateway, choose the currency type, payment method and the amount to transfer. The international payment gateway will process the transaction for you with low cost, good exchange rate, fast time and high security.

Benefits of PayCEC

PayCEC is an international payment solution provider, whose product is integrated into the business website of the seller, to solve the problems related to electronic payments when their business allows and accepts online payments, especially the payments made by Visa, Mastercard and American Express and credit/debit cards.

PayCEC is different from other payment gateways, as it supports global integration and multiple currencies, payment methods, languages and utility features. PayCEC enables users to send and receive payments across borders, with low cost, good exchange rate, fast time and high security. PayCEC also offers a multi-currency account and a linked card, which allow users to hold and exchange 40+ currencies, and spend in 150+ countries. PayCEC is the ideal choice for those who need to make international payments to Malaysia, or from Malaysia to the world.

If you are interested in using PayCEC as your international payment solution, you can visit their website here and sign up for a free account. You can also contact their customer service team via email, phone or live chat for any inquiries or assistance. PayCEC is always ready to help you with your international payment needs.