Send Money from Thailand to Malaysia
Ringgit reaches Malaysia from US dollars held in a Grey account, converted once before the money moves. The senders are freelancers and remote workers in Thailand paid by clients abroad, expatriate staff on foreign payroll, people supporting family in Malaysia, and firms settling Malaysian suppliers. The money arrives either as a bank credit at Maybank, CIMB Bank, Public Bank, RHB Bank or Hong Leong Bank, or in a Touch n Go eWallet or GrabPay balance.
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US dollars in Thailand, ringgit in a Malaysian account
Dollar earners in Thailand are the senders on this route. Freelance developers and designers invoicing agencies overseas, consultants paid by companies in other countries, expatriate staff on foreign payroll, and the large community of African graduates and professionals working in Bangkok, Chiang Mai and Phuket all hold their earnings in US dollars and draw on that balance when something in Malaysia needs paying.
Paying a Malaysian bank account takes the bank name and the account number, with no IBAN involved. The ringgit then posts to that account as an everyday domestic payment. Maybank, CIMB Bank, Public Bank, RHB Bank and Hong Leong Bank are all supported, and so are the smaller regional lenders, so the recipient keeps the bank they already have.
Wallets are the second option and sometimes the better one. Touch n Go eWallet and GrabPay are reached through the mobile number the wallet is registered to, which works better for small sums sent often, a student’s allowance for instance, where using a bank account is more trouble than the amount is worth.
How to send money to Malaysia from Thailand
Sign up
Register in the Grey app and pass identity verification using a passport or another accepted photo document. Grey Inc is registered with FinCEN, registered address 651 N Broad St, Suite 206, Middletown, DE 19709, United States.
Fund
Grey holds your money in US dollars. The USD account provided by Lead Bank carries US routing and account numbers, so clients and employers outside the country can pay into it directly, and dollars can also be wired in from another bank you use. Ringgit is bought out of that balance.
Send
Select Malaysia and enter either the bank name with the account number, or the mobile number registered to the wallet. Check the ringgit amount, the rate and the fee, then confirm to hold the rate.
The cost of a transfer to Malaysia
A dollar to ringgit transfer is charged in two ways at once. One is the fee you are quoted. The other is the margin built into the exchange rate, which no provider itemises and which can comfortably exceed the fee on larger amounts.
The ringgit total resolves it. Run the same dollar figure through each service you are considering and compare only the amount that would reach the Malaysian account or wallet. That number has both charges inside it already.
How often you send changes the weight of this. A single payment to Kuala Lumpur can carry a weak rate without much harm, but an allowance sent every month, or supplier invoices settled regularly, turns the same gap into a standing cost.
Keeping the fee and the rate apart on screen is the point of the confirmation step. You can see which is larger, judge whether to send the full amount now, and proceed with both numbers in front of you.
How the ringgit rate is set on your transfer
Grey fixes the dollar to ringgit rate when you confirm the transfer, not when it settles at the Malaysian end. The ringgit figure you approve is the figure credited, regardless of how the market moves after you have tapped send.
The transfer involves one conversion and no more. Your balance is already in US dollars, so there is no prior exchange to absorb, and a single rate plus a single fee covers the full distance to the recipient.
The rate is displayed beside the fee rather than hidden inside the ringgit total. That lets you compare it with the live market rate and with other providers on the same terms before you commit to anything.
Grey measured against an ordinary bank wire to Malaysia
A standard wire to Malaysia is passed along a chain of correspondent banks, any of which may take a charge on the way through. The ringgit amount is not agreed when you give the instruction, and the recipient receives an international payment to identify rather than a familiar local credit.
Grey converts once and pays the ringgit straight to the account or the wallet. The practical difference is that the figure is settled before you authorise the payment, so there is nothing to reconcile afterwards.
How the money reaches your recipient in Malaysia
The ringgit arrives in the bank account or wallet your recipient already uses. Nothing is collected at a counter and no Grey account is needed on their side.
Bank accounts
Give the bank name and the account number, with no IBAN required. Maybank, CIMB Bank, Public Bank, RHB Bank and Hong Leong Bank all receive the credit, as do smaller Malaysian lenders.
Wallets
Touch n Go eWallet and GrabPay are both paid by mobile number, and the ringgit turns up in the wallet balance ready to spend.
GreyTag
If your recipient is a Grey user, send to their GreyTag instead. Transfers between Grey accounts complete instantly and cost nothing, in any currency.
Funding a transfer to Malaysia
Ringgit is bought with dollars already in Grey, which makes funding the step that sets the timetable. Once the balance is there, the payment itself is straightforward.
Client and salary payments
Pass on the Grey USD account details once, and every payment afterwards arrives without you doing anything further.
Dollar wire from another bank
Use the routing and account numbers shown in the app to bring dollars across from a dollar account held in your name elsewhere.
An existing Grey balance
Dollars already in the account convert on demand, so a transfer can leave without waiting for anything new to clear.
Senders who pay Malaysia on a regular cycle tend to keep a dollar float rather than funding each transfer separately. Allowances and supplier terms run to their own dates, and a balance held in advance means the ringgit goes out on the day it is wanted.
Who sends money from Thailand to Malaysia
Freelancers and remote workers
Developers, designers and consultants living in Thailand who bill overseas clients in dollars and meet costs in Malaysia from the same balance.
People supporting family in Malaysia
Anyone in Thailand sending an allowance, covering a student’s expenses or helping with household bills, often to a wallet rather than a bank account.
Expatriate professionals
Residents of Thailand employed by a company in another country and paid in US dollars, directing part of that income to a Malaysian account.
Businesses paying Malaysian suppliers
Companies and agencies in Thailand settling contractors, agents and suppliers in Malaysia, sometimes several payouts on the same day.
The people on this route are paid in US dollars while resident in Thailand. Freelancers and remote workers lead it, followed by those supporting family in Malaysia, expatriate staff on foreign payroll, and businesses settling Malaysian suppliers.
The best way to send money from Thailand to Malaysia
FAQs
What does it cost to send money from Thailand to Malaysia?
The rate and the fee are shown before you confirm. Compare the ringgit total between providers, because that figure holds both charges.
How long does the ringgit take to arrive?
Arrival depends on the receiving bank or wallet. You can see the status of the transfer in the app until it is credited.
What details do I need for a Malaysian bank account?
The bank name and the account number. No IBAN is involved, and you can save the details once for later transfers.
Can I pay a Touch n Go eWallet or GrabPay?
Yes. Both are reached by the mobile number the wallet is registered to, which works well for smaller amounts sent regularly.
Which Malaysian banks can receive the money?
Maybank, CIMB Bank, Public Bank, RHB Bank and Hong Leong Bank are supported, along with smaller regional lenders across Malaysia.
Is there a maximum I can send?
Sending limits follow the verification level on your Grey account and are shown to you in the app before you confirm.
Can I follow the transfer?
Yes. A status is attached to every transfer from the moment you confirm it until the ringgit reaches the account or wallet.
Is it safe to send money to Malaysia with Grey?
Every account is verified at sign up, balances carry bank-grade encryption, and Grey operates as a money services business registered in the United States.
How is the transfer funded?
From US dollars in Grey: client or employer payments into the Lead Bank USD account, a dollar wire in, or an existing balance.
Does my recipient need Grey?
No. A Malaysian bank account or a wallet is enough. Where they do use Grey, GreyTag transfers between you are instant and free.
What if I send to the wrong account number?
Check the number and the bank before confirming. If a transfer has gone to the wrong place, contact support in the app at once.
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