Send money overseas with WorldRemit to take advantage of bank-beating exchange rates

Compare today's MYR to NGN (Malaysian Ringgit to Nigerian Naira) exchange rates

Malaysia
Nigeria
MYR
Interbank Exchange Rate: 1 MYR = 350.1514 NGN
Updated about an hour ago

Found 4 Remittance Service Providers

RIAMONEYTX
Read more about Ria Money Transfer
(*)★★ (*)★★ (*)★★ (*)★★ (*)★★
1000 MYR =
355 132.20 NGN
Transfer Limit (MYR): 1 - 50000
Locked-In Rate1 MYR = 355.1322 NGN
TRANSFERWISE
Read more about Wise
(*)★★ (*)★★ (*)★★ (*)★★ (*)★★
1000 MYR =
348 430.40 NGN
Transfer Limit (MYR): 1 - 1000000
Locked-In Rate1 MYR = 348.4304 NGN
WORLDREMIT
Read more about WorldRemit
(*)★★ (*)★★ (*)★★ (*)★★ ( )★★
1000 MYR =
344 962.40 NGN
Transfer Limit (MYR): No Limits
Locked-In Rate1 MYR = 344.9624 NGN
Get 3 free transfers

📢 Special exchange rate applied for first transfer
verto
Read more about Verto
(*)★★ (*)★★ (*)★★ (*)★★ (*)★★
1000 MYR =
344 509.60 NGN
Transfer Limit (MYR): No Limits
Indicative Rate1 MYR = 344.5096 NGN

📢 B2B transfers only

If you are making international business money transfers or payments, RemitFinder can assist by matching you with the best options to suit your unique business needs. Get in touch now to see how we can help protect your business revenue by getting you higher exchange rates and lower transfer fees on international business FX.





All you need to know about Malaysian Ringgit to Nigerian Naira money transfers

Easily compare money transfer providers in one place to send money from Malaysia to Nigeria. Send money overseas to your loved ones by comparing Malaysian Ringgit (MYR) to Nigerian Naira (NGN) remittance exchange rates. Read remittance service provider reviews and check out deals, promotions and discounts. Transfer online or send cash based on services offered by these providers.

RemitFinder compared 4 money transfer operators to get you the best FX rates to send money from Malaysia to Nigeria.

The best rate to send Nigerian Naira from Malaysian Ringgit to your loved ones in Nigeria is currently offered by Ria Money Transfer; their 1 MYR to NGN exchange rate today is 355.1322.

Wise offers the next most competitive Malaysian Ringgit to Nigerian Naira exchange rate today (currently 1 MYR = 348.4304 NGN).

Two other competitive providers for sending money from Malaysia to Nigeria are WorldRemit and Verto.

Were you looking to send money from Nigeria to Malaysia instead?

Did not find the providers you were looking for? Please reach out to us at info@remitfinder.com, and we will do our best to add them to our platform.

If you need to send international business money transfers and payments, get in touch with us to see how we can help protect your revenue.


Latest MYR to NGN Conversion Rates

Here are some latest MYR to NGN (Malaysian Ringgit to Nigerian Naira) exchange rates for popular conversion amounts*.

1 MYR350.15 NGN
5 MYR1,750.76 NGN
10 MYR3,501.51 NGN
25 MYR8,753.79 NGN
50 MYR17,507.57 NGN
100 MYR35,015.14 NGN
150 MYR52,522.71 NGN
200 MYR70,030.28 NGN
250 MYR87,537.85 NGN
300 MYR105,045.42 NGN
400 MYR140,060.56 NGN
500 MYR175,075.70 NGN
600 MYR210,090.84 NGN
700 MYR245,105.98 NGN
800 MYR280,121.12 NGN
1,000 MYR350,151.40 NGN
1,500 MYR525,227.10 NGN
2,000 MYR700,302.80 NGN
2,500 MYR875,378.50 NGN
3,000 MYR1,050,454.20 NGN
4,000 MYR1,400,605.60 NGN
5,000 MYR1,750,757.00 NGN
10,000 MYR3,501,514.00 NGN
15,000 MYR5,252,271.00 NGN
20,000 MYR7,003,028.00 NGN
30,000 MYR10,504,542.00 NGN
40,000 MYR14,006,056.00 NGN
50,000 MYR17,507,570.00 NGN
100,000 MYR35,015,140.00 NGN

*Based on the Interbank Exchange Rate. Actual payout may vary based on the chosen money transfer provider.


What's the best way to send money from Malaysia to Nigeria?

With the global remittance market booming, there are so many choices for Malaysian Ringgit to NGN money transfers. To make it even more complicated, new Fintech companies keep entering the space, making it harder for remitters to decide which company to choose to send money overseas.

Our money transfer comparison engine does all the hard work for you by searching and comparing numerous companies that specialize in foreign exchange transactions, and picking the best ones for sending money to Nigeria from Malaysia. This way, you do not have to manually search and compare these companies which is very time consuming. All remittance companies on our platform are established, secure providers that our expert team has selected.

We also provide you with attractive deals and promotions from our partners; these offers help you further maximize the final NGN amount that your recipient gets. We, along with our partners, work hard to provide you with the best discounts and offers that you can use when you send money internationally.


How to get the best remit rate for transferring money from Malaysia to Nigeria?

Just like the cryptocurrency market, the foreign exchange market is constantly fluctuating. On top of that, there are so many new service providers on the global remittance landscape. This may make it hard for remitters to find the best ways to send money to Nigeria from Malaysia.

At RemitFinder, we have tried to solve this exact problem - how to give you access to good choices for your MYR to Nigerian Naira remittances. We do all the hard work to search and compare numerous multi currency banks, foreign exchange services, remittance service providers, etc., to ensure you can use the best possible vehicles to send money overseas.

You can also register for our daily rate alert to stay aware of the latest exchange rates for MYR to NGN remittances. Our rate alert is totally free, and is a great way to save your previous time and make the most of your hard earned money. We do the hard work so you do not have to manually search and compare money transfer companies.


What's the cheapest way to send money from Malaysia to Nigeria?

Finding the cheapest way to send money from Malaysia to Nigeria might not be that easy given the umpteen choices available. You have to look at various parameters like exchange rates and fees to determine if the cost of one money transfer operator is less than that of another or not.

It may also be tempting to use some of the traditional funds transfer services like foreign currency exchanges or operators located in shopping malls, grocery stores and other local outlets. While you can certainly transfer MYR to NGN via these channels, they may not be the most economical way to send money internationally. Typically, brick and mortar services charge higher fees and may also provide lower rates. All this contributes to making your foreign exchange transfer more expensive.

Online money transfers tend to be more cost effective, and RemitFinder provides you quite a number of good choices to ensure you are able to get optimum Malaysia to Nigeria exchange rate. Many of our partners also provide promotions and offers that are exclusive to our customers; availing these will definitely reduce the cost of your foreign exchange transaction further.


How to send money from Malaysia to Nigeria through a bank?

We do not recommend using your local bank in Malaysia for your next MYR to NGN overseas funds transfer. The reason for this is that banks are known to give you worse exchange rates and yet charge high foreign exchange fees. That is a double whammy that will make the transaction much more expensive for you.

That said, there may be circumstances you may want to consider your bank for your international funds transfer. For example, if you need to move a very large sum of money from Malaysia to Nigeria (for property purchase, or any such high value transaction), and do not want smaller transactions. In such cases, be sure to carefully inspect all details of the remittance transaction that your bank offers you. You can use the RemitFinder remittance search engine to compare your bank's quote with many other money transfer companies to try to negotiate a better deal with your bank.

Notwithstanding any unique circumstances as above, you will generally save more by relying on online foreign exchange companies for sending NGN to Nigeria. These companies will let you use your local bank account in Malaysia to pay for your Nigeria money transfer, but will likely save you a lot of money by affording better rates and citing lower foreign exchange transaction fees.


How to send money to Nigeria from Malaysia fast?

The speed of your Malaysian Ringgit to Nigerian Naira funds transfer will depend on various factors like which provider you use, how you pay for your transaction, how you choose for your recipient to get the funds, etc. You will, therefore, want to compare various options to see which one suits your needs best.

We created a comprehensive guide on remittances to help you understand all the factors that come into play when you convert MYR to NGN. Establishing a solid understanding of all the criteria that affect your transaction speed will help you compare various money transfer companies to see which one can provide you with the fastest transaction.

One possible approach that will help you send money fast to Nigeria from Malaysia is to rely on cash as payment as well as delivery method. This would mean paying for your transfer with cash, most likely by walking into your provider's office or agent location. Similarly, your recipient could also pick up cash in Nigeria if they have a pickup location nearby. Dealing with cash on both sides will eliminate bank transfers in the middle which generally take longer as money has to move between banks.

One drawback of cash transfers is the need to go to physical drop off and pickup locations, and the inherent risk involved in carrying cash, especially for larger amounts. Another one is that cash transfers generally involve lower exchange rates as compared to online transfers. If you do not want to handle cash for the aforementioned reasons, the next fastest transfers would be to payout NGN into a mobile wallet, or even do a mobile airtime popup. These methods would be faster than Malaysia bank to Nigeria bank transfer.


Which are the best money transfer companies to send money to Nigeria from Malaysia?

Comparing money transfer companies for sending money to Nigeria from Malaysia can be challenging, especially given the number of options out there. But, if you are armed with the right knowledge, it will help you make a more informed decision and, therefore, make the most of your hard earned money.

There are various areas you would want to inspect when evaluating these providers to gauge the best fit for sending money overseas to Nigeria. How much do you want to send? Some companies deal with only small amounts, while others specialize in larger ones. Are you OK paying a fee for your Malaysian Ringgit to Nigerian Naira transfer or you will only go with 0 fees? How about exchange rates? Can you send money using non-fixed or indicative rates?

Once you start applying these conditions to the list of choices you see, you can start to eliminate companies that do not match any of your preferences. This will help fine tune the list to a small number. Finally, keep an eye on promotions and discounts as they will help maximize the Nigerian Naira yield on every Malaysian Ringgit that you send.


Step by step guide to do a money transfer from Malaysia to Nigeria

Sending money internationally is very common these days, especially given the large communities of expats living abroad. If you are one of them, and need to send money from Malaysia to Nigeria, then please continue to read.

One of the hardest things in the foreign currency transaction world is to find the best company to move your money abroad. There are so many choices to remit funds from Malaysia to Nigeria that you may feel a bit lost. This is where RemitFinder comes in. You can relax as we do all the hard work to search and compare numerous money transfer companies for you.

Once you identify your provider of choice, follow the below step by step guide to send money.

  • Provide your name, address, photo ID and other related information as part of the signup process. Forex companies are regulated to ensure that your money is safe, so providing this information ensures compliance laws are adhered to.
  • Provide information about the receiver - name, address and a bank account in Nigeria where they can receive monies in Nigerian Naira.
  • Then, provide details of your Malaysia bank account so you can transfer the funds to the provider to allow them to do the transaction on your behalf.
  • Finally, select the amount you want to transfer, and click Send.
  • The provider will start your transaction, and keep you updated on the progress of your transfer.

Also, keep an eye on any discount or promotional coupon codes as they may help lower the cost of your remittance. The process is quite easy and you can see your MYR travel to another part of the globe.


Other popular countries to send money from Malaysia