There is a high population of Nigerians working and schooling in Malaysia. This has created a great need for means of sending money from Malaysia to Nigeria, because Nigerians maintain very close family ties, and try to help out with caring for their loved ones, and participating in projects back home. Thankfully, there are several ways of meeting this need. Here we are looking at the possible ways to send money from Malaysia down to Nigeria with a very low charge fee with convenience, reliability, speed and security of your funds.
The Best Services To Send Money From Malaysia To Nigeria
When thinking about how to send money to Nigeria from Malaysia, there are important factors of the transaction that will impact the best way for your needs.
There are plenty of international money provider from Malaysia to Nigeria, the fastest is WorldRemit and the cheapest is VertoFX at % above mid market rate.
When you are looking for the best in the aspect of price, speed and reliability then you should use WorldRemit when sending money from Malaysia to Nigeria. It means that using WorldRemit for transactions from Malaysia to Nigeria, you are about to save transfer fees and enjoy fast speed, your receiver will get more money and delivered in less time. More so if you cannot access WorldRemit for any reason, then VertoFX is also a very good option when sending money to Nigeria from Malaysia.
The Most Affordable Means of Sending Money from Malaysia To Nigeria
The fee involved in transferring money will depend on the value of the transaction and amount of NGN you want the recipient to save. To avoid high rates, then consider the cheapest means of sending money to Nigeria from Malaysia. VertoFX has been offering cheapest rate possible when it comes to sending money from Malaysia to Nigeria.
The Fastest Way of Sending Money From Malaysia
When money is being sent from Malaysia to Nigeria, speed is one of the most important things to be put into consideration in terms of services offered by different money providers, if money is needed to be sent instantly then use WorldRemit to send money from Malaysia to Nigeria. WorldRemit is the fastest way to send money.
Payment Methods That Can Be Used To Send Money From Malaysia To Nigeria
Most of the money provider allows you to deposit and send money using various payment methods but not all provider offer every options, you will fond put the common methods are bank transfers and card payments, but most provider also accept cash while some deliver cash to the recipient door post.
- SENDING MONEY USING CREDIT CARDS; In order to prevent high fees, you can use an online money transfer provider such as WorldRemit to pay for your transactions to Nigeria
- SENDING MONEY USING DEBT CARDS; WorldRemit allows you to send money to Nigeria from Malaysia online using your debit card, but before you try making payments ensure you understand all the fees involved in processing it in the first place.
- SENDING MONEY THROUGH WIRE TRANSFER; International wire transfers and banks are the most common means of sending money to Nigeria from Malaysia because they are secure, reliable and convenient. More so they come often in the slowest delivery in times should in case speed is involved, then use WorldRemit to send money using bank or wire transfers requires a high rate of and your transfer takes 1- 2 days to be delivered. When sending money from Malaysia to Nigeria using bank account transfer involves paying for outgoing fees, currency exchange rate, flat fees, mark up and sometimes additional incoming transfer fee. If you decide to make an international transfer using wire transfer, you will be required to use SWIFT/BIC code when completing your transactions. Furthermore, you are to only pay a sender fee and small exchange rate mark up when using transfer services such as WorldRemit and VertoFx .
What to Consider When Sending Money From Malaysia To Nigeria
Before you think of sending money from Malaysia to Nigeria, there are things to consider;
- THE MYR- NGN EXCHANGE RATE MARGIN: money transfer provider charges a little percent on top of the mid- market exchange rate in order to generate revenue. The current mid-market rate is 99.139345 and the lowest exchange rate margin offered by WorldRemit is at 0% above the mid-market rate.
- HIDEEN FEES AND CHARGES: Before sending money to Nigeria, ensure the provide you are about to use doesn’t charge any hidden fees, WorldRemit and VertoFx are the top ranked.
- THE AMOUNT YOU WANT TO SEND: It is likely that the more money you send to Nigeria from Malaysia the more value you will get and the more NGN the recipient will receive because the flat fee charged ends up as a smaller % of your transfer amount and also became many providers allow you to negotiate a better exchange rate margin if sending large amounts.
What to Consider Before Selecting a Money Provider Company
Instead if picking a money transfer company on a random basis, you should carry out some research first, then after the comparative study of the various online fund transfer companies, you can now narrow down your options and come up with the best way to send money from MYR to NGN. Below are list of what you should look out for;
- Delivery period
- Coverage at the recipient end
- Free remittance and transaction on debit or credit cards
- Responsiveness to their customers
- Charging lowest possible transfer fee
- Offering better exchange rate
- Transparency in their fee structure
Create an account online with an e transfer company that meets your criteria and get going.
Which Service To Use To Send Money From Malaysia To Nigeria
It should be your utmost priority to select the cheapest means to send money from Malaysia to Nigeria, it is recommended however to use a service with;
- No red taping, no complicated process
- Quick and positive response
- Least delay chances
- Favourable exchange rate
- Bank account and in-person delivery
- Complete security of your funds
HOW MUCH DOES IT COST TO TRANSFER FROM MALAYSIA TO NIGERIA
We preferably keep the latest comparative data of the most favourable money transfer services to make sure our users could save the maximum amount while paying least charges for their transactions. In the light of statistical data you can send money from Malaysia to Nigeria with;
- No huge fees
- No extra money on in-person delivery
- No extra charges on debit/ credit cards
- More Saudi riyals from Malaysian ringgit
HOW TO SEND MONEY FROM MALAYSIA TO NIGERIA (2023)
Just simply use our comparison table to find the best provider to send money from Malaysia to Nigeria, after that it’s just a process of making your transfer using the following steps
- Click “visit site” inside our comparative table
- Register for an account if required
- Enter the amount to be sent
- Fund your transfer
- Receive and save an email confirming your transfer
How To Receive Transfer From Malaysia To Nigeria
Your receiver has a few methods available to receive money in Nigeria, this will vary but is possible to find service that will:
- Delivery money directly to their door
- Deposit NGN directly into a bank
- Enable the recipient pick up cash a specific location across Nigeria
- Send money to your recipient wallet
If your recipient is going to pick or collect the money delivered to them in Nigeria, they will definitely need;
- Senders details and amount of the money
- The money transfer reference number
- A government issued ID document
Transfer Limits From Malaysia To Nigeria
The amount of NGN one can receive from Malaysia will largely depend on the money transfer service you are using, there are providers that specialize in smaller remittance payment while some large transfers. It is also advisable to check if there is any government regulation pertaining the amount to be received in Nigeria or sent from Malaysia before making transfers.
ADVANTAGES OF CHOOSING A TRANSFER COMPANY FROM OUR WEBSITE
- Smooth and easy processing in remittance
- Ideal exchange rate with the forward contracts options
- You are going to enjoy the most favourable conditions
- You can find company granting waivers on your transactions.
WorldRemit and VertoFx has been top ranked when it comes to sending money from Malaysia to Nigeria, when it comes to speed WorldRemit is there and when it coms to the cheapest fees then you have VertoFX at your service with reliability and convenience but it takes a longer time to deliver, deposit and withdrawal of naira with ease and make best use of the instant internal transactions across all cryptocurrencies using instant trading tools. WorldRemit works with speed, price, security of funds and reliability with a lot of convenience, no high exchange rate and lots more to take advantage of when you use it to send money from Malaysia to Nigeria. WorldRemit gives you access to send money using your debit card. Make your research and study the comparative for different money Provider Company and then put into consideration your criteria when looking out for the best service provider in terms of money transfer from Malaysia to Nigeria, ensure to select one which have easy access to quick and positive response when there is an issue that can be handled properly.