Maybank publishes its foreign exchange counter rates on maybank2u.com.my. These are rates for exchanging cash at a branch, so the Maybank exchange rate on a transfer can differ.
When you send money to India, the bank's selling rate applies, because the bank sells you rupees. For a telegraphic transfer, confirm the Maybank conversion rate with the bank before you send.
How to check the Maybank exchange rate for MYR to INR
- Where to look: the foreign exchange counter rates page on maybank2u.com.my lists the Maybank FX rates for cash.
- Which column: counter pages usually list buying and selling rates; the selling rate is the one for buying rupees.
- Units: if INR is listed, check whether the Maybank ex rate is quoted per 1 or per 100 units before you work out the amount.
- Counter vs transfer: the Maybank money changer rate on the counter page is for cash, so confirm the transfer rate with the bank before you send.
Which Maybank rate applies when you send MYR to India
- Sending MYR to India: Maybank sells you rupees, so the Maybank forex rate that counts is the selling rate.
- Turning INR back into MYR with Maybank: the bank buys your rupees at the buy rate, so you get fewer ringgit.
- Cash at a branch: the currency rate Maybank sets at the counter can be different from the rate on a transfer.
Maybank international transfer charges to India
Maybank has offered Western Union transfers through Maybank2u (per its pricing document). Check the bank for current services, fees and the rate used.
| Transfer type | Fee to India | Rate used |
|---|---|---|
| Western Union via Maybank2u | Check with the bank | Check with the bank |
| Other overseas transfers | Check with the bank | Check with the bank |
Indian businesses can receive payments from abroad with Xflow
Maybank vs other ways to send money from Malaysia to India
A Maybank transfer is one way to send money home. Compare the final rupee amount each option gives you, not only the Maybank currency conversion rate.
| Option | How the rate is set | Fee approach | Best when |
|---|---|---|---|
| Maybank transfer | Maybank bank currency exchange rate, which usually includes a margin over mid-market | Check with the bank | You already bank with Maybank |
| Money changer or remittance shop | Its own counter rate | Varies by provider | You want to pay cash in person |
| Money transfer app | Varies by provider | Varies by provider | You want to compare the final INR amount quickly |
Our page on how to send money from Malaysia to India covers each route step by step.
Frequently asked questions
On the foreign exchange counter rates page on maybank2u.com.my. These are counter rates for cash at a branch.
It is the rate Maybank uses for a telegraphic transfer. For sending money to India, that is the selling rate, because the bank sells you rupees.
Not always. The counter rate is for cash at a branch, so confirm the forex exchange rate Maybank uses for your transfer before you send.
Check the bank for current fees before you send. The fee and the Maybank bank exchange rate together decide what reaches India.
Maybank's own page lists counter rates for cash. Confirm the transfer rate with the bank, as the foreign exchange rate Maybank uses on a transfer can differ.
Compare the final rupee amount after fees from each option, not just the headline currency exchange rate Maybank shows.
