🇲🇾 Pay Suppliers in Malaysia
Pay Malaysian suppliers for palm oil, electronics, rubber, petroleum products
T+0 (2.3s avg within Unicorn network). Save 80% vs traditional banks.
What you need to send money to Malaysia
What details do I need to pay suppliers in Malaysia?
To pay suppliers in Malaysia you need the recipient's SWIFT + Account or DuitNow (SWIFT/BIC or DuitNow ID for instant payments), plus account number and beneficiary name. Payments typically settle in 2.3 seconds and cost 0.5% FX spread + £5 per payment.
How fast are payments to Malaysia?
Payments to Malaysia settle in an average of 2.3 seconds when using local rails such as DuitNow, compared to 2–3 days via traditional SWIFT.
How much does it cost to send money to Malaysia?
Unicorn Currencies charges 0.5% FX spread and £5 per payment. You save about 80% versus banks (e.g. £505 vs £2525 on a £100k transaction).
Cost Comparison: Banks vs Unicorn Currencies
See how much you save on £100,000 payment to Malaysia
| Cost Item | Traditional Banks | Unicorn Currencies |
|---|---|---|
| FX Spread | 2.5% | 0.5% |
| Payment Fee | £25 | £5 |
| Total Cost (£100,000) | £2,525 | £505 |
| YOUR SAVINGS | N/A | £2,020 (80%) |
| Settlement Time | 2-3 days (SWIFT) | T+0 (2.3s avg within Unicorn network) |
Local Payment Rails in Malaysia
Avoid expensive SWIFT fees. We use local payment systems in Malaysia for faster, cheaper settlement.
DuitNow
Malaysia instant payment system, bank-to-bank
RENTAS
Bank Negara Malaysia RTGS for large payments
FPX (Financial Process Exchange)
Online bank transfer system
Who Uses This Payment Corridor
Key Industries in Malaysia
- Palm Oil
- Electronics
- Rubber
- Petroleum
- Manufacturing
Average Transaction: £35k-£160k
Typical Monthly Volume: £220k-£2.2M
Popular Supplier Types
- Palm oil refineries (Johor, Sabah)
- Electronics manufacturers (Penang, Selangor)
- Rubber producers (Perak, Kedah)
- Petrochemical plants (Kuantan, Johor Bahru)
What You Need to Know: Malaysia Payments
Regulatory Considerations
- Bank Negara Malaysia FX regulations
- Royal Malaysian Customs documentation
- Sales Tax (5-10%) on goods
- MDEC oversight for tech sector
Payment Tips for Malaysia
- Malaysia = Palm oil leader, electronics hub (Penang)
- DuitNow fastest for MYR payments
- Halal certification important for food/pharma
- Penang = Electronics manufacturing zone
Why Choose Unicorn for Malaysia Payments
Local Rails, Not SWIFT
We use DuitNow and other local systems in Malaysia. Avoid 3-4% SWIFT fees and 2-3 day delays.
80% Lower Costs
Save £2,020 on every £100,000 payment. On £220k-£2.2M monthly volume, save up to £60,600 annually.
Bank of Canada Supervised
Registered Payment Service Provider (PSP) and FINTRAC MSB. Full regulatory compliance for Malaysia payments.
Real-Time FX Tracking
Upload supplier invoices in MYR. See live P/L as GBP/MYR rates move. Lock rates for 15 seconds before committing.
£1,000,000+ Paying Suppliers in Malaysia? Save 80%
Enterprise treasury for import/export businesses with T+0 (2.3s avg within Unicorn network) settlement to Malaysia
For businesses with high annual FX volume. Not consumer transfers.