The reason that transferring money from Chile to Malaysia is a lot easier nowadays is because of e-commerce. Several years ago, it would take weeks before the recipient can get their money, because the sender will use some banks or traditional money sending agencies that will take a long time before they process the money transfer.
The steps before are rigid compared to how money transactions are processed nowadays.
Money is now sent online with some money transfer agencies, or by the traditional money transfer agencies, or via bank.
Send Money to Malaysia from Chile
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- Wise is a very good provider for overseas transfers. The transfers are easy, convenient and secure. The most important thing is that the transfers are also much cheaper than with the bank.
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- Azimo is a very competent partner for the international transfer. Azimo has a large selection of countries and the transfers are safe and cheap.
How long does it take to transfer money from Chile to Malaysia?
The recipient can get their money in minutes. Others can get their money in 24 hours, which is also fast. There is no need to wait for a very long time to have the money, especially when you need the money for emergency purposes.
Money transfer using the bank has its own set of charges for every transaction, so does each money transfer company. Some may charge anywhere between $10 to 30 dollars, while other companies may even have a 2 to 3% hidden fee.
However, if you are a trusted customer in a bank, you can also negotiate such transfer fees, especially if you are sending a large sum of money. They will try to accommodate you as much as they can, and one thing they can do is to lessen the transfer fees.
When you need to send money to any country, even if it is just a casual reason or for emergency reasons, there are ways to gauge which platform to use. Will you be trusting your bank to do the process, or will you just use a money transfer provider to do the transaction? You have the choice and making a choice is easy if you know what to look for.
Send money from Chile to Malaysia with the bank
Although sending money from Chile to Malaysia is also possible, sending money vice versa is easier. Some banks can do the transaction for you, but you have lesser options in Chile.
There are other platforms that you can use, but for those who are more traditional with their money transactions, the bank is always a place to go to.
Still, the best and fastest way to make the money transfer transaction is for you to have an account with the same bank in Malaysia, and this will make transferring money effortlessly. If you also have a checking account in Chile and then another in Malaysia, then you will have less headache to go through. Clearing checks in the US is also quicker than compared to check to clear in Chile.
Transfer money to Malaysia with a money transfer provider
If you have no bank account in Chile to transfer your money to in Malaysia, then another option is to use a money transfer provider. One thing you have to be aware of is some money transfer companies in Chile cost a bit, especially those that are well known and have been in the industry for decades.
If you are to transfer money weekly, you may need to find one company where you can get your money’s worth, which means they need to have a high exchange rate, plus they will charge you less.
If this is not possible and you will be charged a higher amount, otherwise, go for the high exchange rate and do strategic money sending transactions instead.
We have to be smart with money sending transactions as well, so we can save up at least, and that would mean more money to send to Malaysia.
There is a global money transfer company that can help with your money sending needs, however, they also have one of the highest sending rate in the market.
You can do research online on which money transfer provider you can use from Chile instead of using the more traditional, trustworthy but a bit expensive money transfer agency.