If you are in Malaysia. there are many ways to send or receive money to/from overseas. Each methods differ in terms of transfer speed and fees involved.
Some methods also requires additional the sender or recipient utilize their cards such as VISA Money Transfer.
The table below is some of the methods to send and receive money to/from overseas. Transfer speed and fees is relative.
| No | Speeds | Fees | Remarks | |
|---|---|---|---|---|
| 1 | Foreign Telegraphic Transfer / Wire Transfer | Fast to Slow | Low | Speed depends on the recipient country, Bank & whether any intermediate bank involved |
| 2 | Western Union | Very Fast | High | |
| 3 | MoneyGram | Very Fast | High | |
| 4 | International Money Orders | Slow | Low | Limited to 21 countries |
| 5 | VISA Money Transfer | Very Fast | Low | Service by M2U Visa Direct & UOB Visa Money Transfer. Recipient must have VISA Card |
| 6 | PayPal | Instant | High | No fees for country allow personal payment. |
| 7 | Citibank Global Transfer | Instant | Free | Limited to certain countries & must have Citibank account. |
