How to top-up my Wise account in Malaysia

Tarah Ren
Şeyma Mektepli
Last updated
31 August 2023

The world of international payments is evolving rapidly, with digitalization paving the way for faster, cheaper, and more transparent transactions. Say goodbye to the complexities of cross-border transfers, thanks to Wise. This game-changing money transfer service has revolutionized how we send and receive funds globally, offering reliability, affordability, and a user-friendly platform.

If you're in Malaysia and need to add funds to your Wise account, you're in the right place. In this article, we'll explore multiple ways to top-up your Wise balance, discuss fees and delve into the different methods you can use to send money from your bank accounts. Whether you're a globe-trotter, an international business owner, or simply seeking a convenient way to manage your international transactions, read on for invaluable insights that will redefine your finances.

Key Points: Wise Account in Malaysia

  1. Save when sending money abroad: Send payments to 160+ countries.
  2. No hidden fees: Wise promises fair and transparent fees, so you’ll always see the fee upfront and only pay for what you use. 
  3. Speedy transfers to your Wise account: 50% of transfers arrive instantly, and the vast majority of payments are delivered within 24 hours
  4. Low conversion fees: Send money worldwide at the real exchange rate with low conversion fees.

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Can you add money to Wise in Malaysia?

You can add money to your Wise account in Malaysia and still enjoy all the benefits of a multi-currency account. Wise has 40+ currencies and you can add money to your account in 20 currencies, including AUD, CAD, EUR, GBP, JPY, USD, and more.

With the ability to convert between currencies at the real exchange rate, Wise simplifies international financial transactions while minimizing fees. Additionally, Wise provides account details and IBANs for 10 currencies, allowing you to receive money from overseas, and their international debit card enables seamless global payments in local currencies.

How to add money to your Wise account

Adding money to your Wise account is straightforward, offering multiple options based on your preferences. Whether you add money through your Wise account or via bank transfer, Wise ensures a seamless experience. Here's a step-by-step guide to help you add funds to your account:

  • Go to your Wise account

  • Go to the balance you want to add money to in your Wise account and click "Add."

  • Enter the desired amount and your chosen currency.

  • Choose your preferred payment method and click "Continue to payment."

  • Wise will take you through the necessary payment steps, depending on your chosen payment method.

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Please keep in mind that it's not possible to add cash to your Wise account directly. However, you can choose to fund Wise payments using a bank transfer or card and conveniently top up your MYR balance using methods like Apple Pay. With Wise, you can manage your finances digitally, eliminating the need for handling cash or standing in line at a bank branch.

Once you've successfully added money to your Wise account, you can enjoy the benefits of holding balances in multiple currencies and easily converting them as needed. Plus, with a linked Wise card, you can spend effortlessly from your balances or make payments to others. Adding funds to your Wise account opens up a world of possibilities for managing your money across currencies with ease.

3 ways to top-up your Wise balance

There are different ways to add money to your Wise account, providing flexibility and convenience. Let's explore three simple methods to top-up your Wise balance.

Option 1: How to add money to Wise from your bank account

Adding money through your Wise account is a straightforward process. Here's how you can do it:

  1. Access your account online and set up a standard transfer using your account details.

  2. Ensure you send the same currency as your balance. For example, if you're adding funds to your MYR account, you should send money in MYR.

  3. When using this method, the money must come from a bank account that matches the name on your Wise account.

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It’s important to be aware that you can't add money in certain currencies. These include AED, BDT, CLP, CRC, EGP, HKD, GEL, IDR, ILS, INR, KES, MXN, LKR, NGN, NPR, MAD, PEN, PHP, PKR, RUB, THB, UAH, VND, ZAR, and CNY. If you want to hold these currencies, add money from your bank account to one of the available currencies first and then convert.

Option 2: How to add money to Wise with a credit card or debit card

You can also add money using a credit or debit card if you prefer. Just follow these simple steps:

  1. Open the Wise app.

  2. Select the currency and amount you'd like to add.

  3.  Choose a credit or debit card as your payment method.

  4. Wise will show you all the available payment methods when paying for your transfer. You can use your Visa, Mastercard, or some Maestro cards for most currencies.

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How to add money through the Wise App

You can also add money straight from your phone or tablet via the Wise App.

  1. Go to the balance you want to add money to in the app.

  2. Click on the "Add" button.

  3. Choose the amount you wish to add and the currency you want to pay with.

  4. Select your preferred payment method and click "Continue to payment."

  5. Follow the on-screen prompts to complete the payment steps.

By following these simple steps, you can effortlessly top up your Wise balance and enjoy the convenience of managing your finances digitally.

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How much does it cost to add money to Wise?

The fees for adding money to your Wise account vary depending on the payment method you choose. Here's a breakdown:

Sending and receiving in MYR

If you add 1000 MYR to your Wise account paying with MYR:

Payment MethodWise FeeWise Variable Fee
Credit Card61.90 MYR61.90 MYR (6.19%)
Debit Card61.90 MYR61.90 MYR (6.19%)
Bank TransferFreeFree

Adding MYR paying in another currency

If you add 1000 MYR to your Wise account paying with Euros:

Payment Method Wise Fee (Euros)Wise Variable Fee (Euros)
Fast Transfer2.45 Euros2.45 Euros (1.23%)
Low-Cost Transfer1.51 Euros1.51 Euros (0.76%)
Easy Transfer1.87 Euros 

1.71 Euros (0.86%) 

Fixed Fee 0.16 Euros

Adding another currency paying with MYR

If you add £1000 GBP to your Wise account paying with MYR:

Payment MethodWise Fee (MYR)Wise Fixed Fee (MYR)
Credit Card409.03 MYR409.03 MYR (6.87%)
Debit Card 409.03 MYR409.03 MYR (6.87%)
Bank Transfer40.24 MYR40.24 MYR (0.68%)

Receiving payments:

  • Receiving money is free for MYR, AUD, CAD, EUR, GBP, HUF, NZD, SGD, and USD (non-wire).

  • There's a fixed fee of $4.14 USD for receiving USD wire payments.

  • Receive money fast and for free from other Wise users. If you have friends or family who also use Wise, they can send payments that are in the same currency directly to your Wise Account without any fees.

These fees are specific to Malaysia, so it's essential to refer to Wise's official website or calculator for the most up-to-date and accurate information.

How long will it take to add money to Wise?

The time it takes to add money to your Wise account can vary depending on the type of payment you choose, as well as other factors. Here's a breakdown of the estimated transfer times for different methods:

Credit Card and Debit Card:

  • Typically instant, providing immediate availability of funds in your Wise account.

Wire Payments:

  • It can take up to 1 working day to process wire transfers before your funds are available in your Wise account, while international transfers may take 1-5 business days to process.

  • Due to time differences and multiple intermediary banks, processing times may be longer for international wire transfers.

Bank Transfer:

  • Payments made via bank transfer usually take 1-3 working days.

Factors that can affect transfer time include:

The country involved:

  • Every currency and country has different processing times. Converting your money usually takes less than 2 working days, but actual transfer time depends on how quickly the recipient's bank can process the funds.

  • The availability of payment methods in the sending country can also influence transfer speed.

Payment method:

  • Some payment methods, like card payments, are typically faster than bank transfers, especially SWIFT transfers.

  • The estimated time for each payment method is provided when setting up your transfer.

Payment timing:

  • Transfers can only be processed during regular banking hours, and national holidays in the recipient country may cause delays.

Security checks:

  • Verifying your ID, address, the source of funds, and other additional verification processes, can all add extra time to the transfer.

Receiving money into a balance:

  • Wire transfers are fast and usually take 1 working day to become available in your Wise account. In fact, 50% of transfers arrive instantly with the vast majority of payments arriving within 24 hours*.

  • SWIFT payments often take 3-5 business days.

  • Payment to your multi-currency account tends to arrive instantly. However, this depends on the currency you’re receiving.

It's important to note that these times are estimates and can vary based on specific circumstances. Wise aims to move your money as quickly as possible, and you can use the calculator on the Wise homepage to provide an initial estimate. The more information provided during the transfer setup, the more accurately the estimated transfer time can be determined.

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How much money can I hold in a Wise account?

When it comes to your Malaysian Wise account, there are limits in place to ensure smooth and secure operations. Please note that Malaysian users are customers who have registered with Wise under a Malaysian address.

The personal limit for holding MYR is 20,000,000 MYR per day. This also includes the money you hold on your Wise Balances across all currencies, and it’s important to keep this limit in mind to avoid exceeding it.

Wise uses the mid-market rate to determine your holding balance to convert all your non-MYR balances into MYR. To ensure compliance with the holding limit, setting up an external account is essential. This account serves as a designated bank account where Wise will automatically send your excess funds if your balance exceeds 20,000 MYR. Please note that the usual fees will apply if currency conversion is necessary for sending out your surplus funds.

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Failure to set up an external account and having extra funds at the end of each day will result in restrictions on your account, preventing further deposits and receipt of funds.

To set up an external account, log in to the Wise website, go to the "Recipients" section, and add or select the bank account you want to mark as your external account. This account can be in a different currency as long as it is under your ownership, but it cannot be your Wise account.

Can you deposit cash into your Wise account?

No, depositing cash into your Wise account is currently not possible. Wise operates as a digital platform, providing its services exclusively through the Wise desktop site and app. This means that while you can conveniently make payments and receive electronic transfers using Wise, cash deposits, checks, and other physical deposit methods are not supported.

How to open a currency balance in a Wise account

In your Wise account, you have the flexibility to hold and exchange in 40+ currencies, allowing you to manage your international finances easily. You can also obtain local account details in 10 currencies, enabling you to receive money seamlessly and spend in 40+ currencies in 160+ countries. To open a new currency balance, follow these step-by-step instructions:

  1. Log into your Wise Account either online or via the Wise app.

  2. On the home screen, locate and tap the "+ Open" option at the top.

  3. Select "Balance" from the available options.

  4. Choose the specific currency you wish to open a balance for, such as MYR (you can also select other currencies).

If this is your first time opening a currency balance, you may need to complete a verification step and deposit a small amount to activate your balance. The onscreen prompts will guide you through the process. Once your account is topped up, the funds can be spent using a Wise card, sent to others, or converted to different currencies based on your needs.

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How to receive money to your Wise account

Receiving money into your Wise account is a straightforward process that works similarly to a traditional bank account. Simply provide the account details of the currency you wish to receive from the individual or business that intends to pay you.

Wise offers the convenience of obtaining account details in various currencies, including MYR, USD, GBP, EUR, and AUD. However, it’s important to note that MYR account details are only available for personal customers who are residents in Malaysia. To receive payments in a specific currency, share your local account details to obtain payments in MYR.

To receive money, follow these steps:

  1. Open a currency account in the desired currency for receiving payments via the Home section of the Wise website or app.

  2. Click on "Get account details." If this is your first time obtaining account details, you may need to fulfill certain requirements.

  3. Share the provided account details so that others can send you money using these details.

  4. The payments you receive will be directly credited to the respective currency account in your Wise account.

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Here are a few things to keep in mind:

  • You can only receive payments in the same currency as your account. Therefore, if you wish to be paid in MYR, make sure to share your local MYR account details with the payer. If someone attempts to send a different currency to your designated currency account, the payment will be rejected.

  • Receiving payments using your account details incurs no fees, except for receiving US dollar wire payments which cost $4.14 per transaction.

  • Wise does not accept cash or check payments.

  • Once the money is in your currency accounts, you have the flexibility to convert it to other currencies based on your needs.

How to top-up your Wise card in Malaysia

Topping up your Wise card in Malaysia is a quick and straightforward process. The Wise card is directly linked to your Wise account, so when you top up your Wise account, you can easily spend from that balance. With access to 40+ currencies, you can make purchases and payments in different currencies wherever you go. Just make sure you have enough funds in your Wise account before enjoying the convenience and flexibility of spending with your Wise card.


Wise is a seamless solution for managing your finances across borders, making international money management effortless and convenient. With its comprehensive range of services, including multi-currency accounts, global card and transfer options, and efficient currency exchange, Wise has become the ultimate destination for both individuals and businesses.

Transparency and competitive exchange rates are key advantages, ensuring optimal value for your money. Setting itself apart from competitors, Wise offers local account details in ten currencies, enabling seamless receipt of payments as if you possessed a local bank account. With a user-friendly platform and cost-effective solutions, Wise is a great and trustworthy choice for those seeking efficient and affordable international financial services.

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How do I put money into my Wise account in Malaysia?

To put money into your Wise account in Malaysia, you can add funds by linking your bank account, making a debit card payment, or initiating a wire transfer.

What’s the cheapest way to add money to my Wise account?

The cheapest way to add money to your Wise account is by using a bank transfer. This method typically has lower fees compared to credit card payments or wire transfers.

Can I top up my Wise account with cash?

No, it’s currently not possible to top up your Wise account with cash. Wise is a digital platform that operates through online transfers and doesn’t accept physical cash deposits.

What currencies can I use to top up my Wise account?

You can top up your Wise account with various currencies, including MYR and over 20 other supported pay-in currencies. Go to Wise’s website for a full list.

Is it free to add money to a Wise account?

Receiving and adding money to your Wise account is free. However, please note that there may be small fees for specific payment methods or currency conversions.