Send Money from Canada to Bank Rakyat in Malaysia

Bank Rakyat, Malaysia

Bank Rakyat, was founded on September 28, 1954, under the Ordinance Cooperation Act 1948, and is controlled by Bank Negara Malaysia (BNM), the Ministry of Entrepreneur Development and Cooperatives (MEDAC), and the Malaysian Cooperatives Commission. Bank Rakyat enables you to conduct a variety of banking transactions, including payment services, with simplicity, at any time and from any location.

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How to Send Money to Bank Rakyat in Malaysia

Sending money to Bank Rakyat accounts in Malaysia is easy with Remitbee. It just takes five easy steps.

  • Easily create a Remitbee account for free. This will give you exclusive access to a private Remitbee Wallet and a secure account in our system.

  • Tell us about yourself! Include your full name, address, and occupation. Double-check your email and phone number to make sure your information is accurate and correct.

  • Let us know the destination of your transfer. Provide the bank details of your recipient’s account. Include their bank name and account number. You also have the ability to choose whether the recipient is picking up the money or if it is going straight into their account.

  • Make sure you’re satisfied with the exchange rate that we provide you with. Once the exchange rate for CAD to MYR is satisfactory, enter the amount you want to send, select your payment method and confirm your transfer. The conversion rates change daily, but the fees for each payment method are fixed and permanent.

  • You’re all done! At this point, we’ll take care of the rest. Just keep an eye on your money through the Remitbee app and watch as it arrives in Malaysia.

What are the benefits of sending directly to Bank Rakyat?

There are many benefits to sending directly to Bank Rakyat with Remitbee. Here’s a quick overview:

  • Whether you're at home or away, you can do it at any time

  • Sending money online is more secure than sending it offline

  • We’re faster than most competitors and we’ll never charge you a fee for giving you the fastest service we can provide.

  • The recipient can access their money as soon as the transfer goes through

What is the information you need to complete the transfer?

Here is the information you'll need to complete your Remitbee transfer.

  • Name of the recipient - Double-check that the name on the account you're transferring matches the name on your bank statements. This will prevent delays in your transfer.

  • Address - We'll need the address of the branch to which you're sending money so we can deliver it to the recipient's city.

  • The name of the French bank to which you are sending money is the bank name.

  • Account Number - This ensures that it reaches the account of the intended recipient.

How Remitbee calculates the CAD to MYR exchange rate
We try to keep our fees as low as possible and assess rates daily to bring you the most competitive MYR exchange rates on the market. There are small fees when you choose to use bill, Interact or debit card payment methods, but you can also use the Remitbee Wallet without paying fees at any time. We are upfront about any fees, and you can see them in the application before you send money to Malaysia.

Send money to all major Banks in Malaysia

How international money transfers work
International wire transfers take place using the SWIFT network. Transfer instructions are sent from the sender’s bank to the recipient’s bank and any fees are assessed before the transfer is approved. One of the banks will calculate the exchange rate CAD to MYR, and the money is moved between accounts.

Check our refer and earn program!

Get $20 for every successful referral while the referred person gets $10 towards their first transaction. Use your unique referral code to invite your friends and register with it. Once they send their first transfer of at least C$200 or exchange at least C$1,000, you’ll get C$20 credited to your RemitBee account. There is no limit on the number of referrals you can make so the earning potential is endless! So, keep referring and earning with RemitBee.
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Frequently Asked Questions
Yes, you very certainly can.
You can choose to pay using Interac e-Transfer, Interac Online, Bill payment, Electronic Funds Transfer or Visa or Mastercard Debit.
Only direct bank account transfers are available for transfers to the Malaysia.
When you verify your account, you may send up to $9,000 CAD per day and $50,000 CAD per month.

Any transfer of 500 CAD or more is entirely free. The transaction fees for sending less than $500 CAD are mentioned below:

  • Interac Online - $2.99

  • E-transfer – Free

  • Bill Payment – Free

  • Electronic funds Transfer - Free

  • Visa or Mastercard Debit - $2.99+

The CAD to MYR exchange rate is currently 1 CAD for {{MYR}} MYR. This changes daily.
The maximum amount of money you can send in MYR is dependent on your account's verification level.

The minimal Verification Level 1 allows you to send only 50 CAD daily, and up to 500 CAD monthly.We recommend Verification of Level 2.

It will allow you to send up to 3,000 CAD daily, and up to 25,000 CAD monthly.For users who need to transfer larger amounts of money we also have a good option – Verification Level 3.

It allows you to send 9,000 CAD daily, and up to 50,000 CAD monthly.

We are also working on Verification Level 4 to provide our customers with even higher sending limits. Remember, verification is a one-time process.

Once you have been verified, there is no need to provide any other documents.

Download Remitbee Mobile App

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