How to receive money with Western Union in Malaysia - 2024
If you're wondering how to use Western Union to receive money in Malaysia, this guide is for you. We’ll look at how to receive a Western Union money transfer, the Western Union exchange rate used to convert foreign currency to MYR, and how to talk to Western Union customer service if you need help.
We’ll also touch on a couple of alternatives - Wise and MoneyGram - which may suit you, depending on how you want to receive your money. Read our full guide to receiving incoming international transfers with Western Union, to learn all there is to know.
Key points: Western Union receive international money transfer
You can receive money with Western Union Malaysia to your bank or in cash through an agent
There’s no Western Union fee to receive money, but your bank may charge you. High fees may also apply to the sender
The costs of a Western Union payment can depend on the details of the transfer, but may include a transfer fee and an exchange rate markup
International payments deposited to your bank can take a couple of working days to arrive, or longer in some cases
Alternative providers like Wise offer local account details in foreign currencies which let you receive payments with being forced to convert back to MYR every time
| FAQs | Answers |
|---|---|
| Does Western Union charge a fee to receive an international money transfer? | There’s no Western Union fee to receive money, but your bank may charge you. High fees may also apply to the sender |
| How long does it take to receive an international money transfer with Western Union Malaysia? | Western Union payments which you collect in cash are usually ready pretty much right away. For transfers to your bank, the timing can vary depending on the sender’s location and how they pay. You may get your money in just a day or two, but it can take up to 5 days in some cases. |
| Are there better alternatives to Western Union for receiving international money transfers? | With alternative providers like Wise you can get local account details to receive foreign currencies quickly without needing to convert back to MYR. More on that later. |
How to receive money with Western Union: Step-by-step instructions
You can receive money with Western Union in Malaysia in 2 ways:
Have the money sent to your Malaysian bank to be deposited in MYR directly
Have the money sent to an agent, so you can pick it up in cash locally
We’ll walk through the step by step guide to manage both types of Western Union payment, next.
Sending money from Malaysia? If you want to know about how to send money via Western Union Malaysia, read this full guide to sending Western Union payments in Malaysia.
How to receive money with Western Union to a bank in Malaysia
Step 1: Give the sender your Malaysian bank account information
The basic information needed by the person sending you a payment includes your name and address, your account number, and BIC code.
You can usually find your account number easily by logging into your bank’s online banking or mobile app. If you’re unsure of the SWIFT/BIC code, it’ll also be shown in your online banking, or you can call into your local branch to ask for the information you need.
Step 2: Wait for the money to be deposited into your bank account
The sender can then arrange the payment, and once it has been processed it will be deposited into your bank account in MYR. The transfer time can vary a lot depending on the originating bank and country. Some payments can settle within a business day or two, others may take up to 5 business days to arrive.
How to receive money with Western Union for cash collection in Malaysia
Step 1: Agree a pick-up location
There are 2,400+ agent locations in Malaysia, so you can find one which is convenient for you pretty easily. Check on the Western Union Malaysia location finder if you’re not sure which location is best, and let the person sending you money know where you’d like to collect your cash.
Step 2: Make sure the sender has your full name as shown on your government ID
The sender can then arrange your payment, online, in app or at an agent close to them. Make sure the sender has your full name as shown on your government issued ID, as this is needed to allow you to collect your money.
Step 3: Get your sender’s full name, confirm the amount sent, and get the MTCN
Once the sender has arranged the payment they will be given a MTCN - a money transfer control number. Ask them to give you this number, and confirm their full name and the exact amount they sent - again this information is needed to allow you to collect your cash.
Step 4: Visit an agent with your ID to get you money
You’ll be able to collect your cash in many cases pretty much right away after the payment has been processed. Visit the agent you picked with your government issued ID document, to get your money. The agent will check your name and ID, and ask for the name of the sender, the MTC and the exact amount you expect to receive, as a security precaution.
Western Union fees to receive international money transfer
There’s no Western Union incoming international money transfer fee to pay when you collect money in cash, and Western Union Malaysia will not charge you to receive a payment to a bank either.
However, this doesn't mean the payment is free. If you’re having a payment sent to your bank, your own bank may charge you a fee to receive the payment. Check your account details to know if a fee will be deducted when the money arrives.
It’s also worth noting that Western Union charges the sender fees when processing an international transfer. Fees vary depending on the sender’s location and currency, the amount being sent and the way you collect the payment. However, costs can include a transfer fee and an exchange rate markup, which can end up pretty expensive in the end for some payment types.
Western Union exchange rate
As we mentioned, one of the fees you pay when sending a payment with Western Union is actually added to the exchange rate being used. This fee is tricky to see, but can end up quite high.
To give an example, if the person sending you money is in Singapore, the exchange rate offered by Western Union might look like this when compared to the mid-market rate:
Mid-market exchange rate: 1 SGD = 3.27934 MYR
Western Union exchange rate online: 1 SGD = 3.2745 MYR
*Data taken at 11.43 on 17/10/2024
The difference looks pretty tiny, but because it’s a percentage charge, it adds up pretty quickly. If your sender is sending you a higher value transfer, this could end up being the highest of all the fees they pay with Western Union - and the hardest to actually calculate.
It’s worth asking the sender to compare the rate they’re offered by Western Union against the mid-market rate, to see what markup has been added. They may decide the payment is better value using a Western Union Malaysia alternative - we’ve got a few ideas on that coming right up.
Alternatives to Western Union to receive international money transfer
Western Union money transfer isn’t your only option for receiving money from overseas in Malaysia. Depending on how you need to get your payment - to a digital account, or to collect in cash - you could pick one of these alternatives:
Wise
If you’re hoping to receive the money to a digital account to then spend or withdraw, you may want to open a Wise account instead as an alternative to Western Union.
The Wise account can be used to receive, hold, send, spend and exchange a broad selection of currencies. Your account offers ways to get paid in select currencies with local and SWIFT account details, often with no incoming payment fee. You can then use your linked debit card to spend online and in person, with currency exchange which uses the mid-market exchange rate with low conversion fees from 0.33%. You can also send payments to others from your Wise balance, or withdraw your money back to your MYR bank account if you want to.
MoneyGram
If you’d prefer to get your money in cash, it may be worth having the sender compare the costs with Western Union against a provider like MoneyGram. You can receive payments with MoneyGram in Malaysia for cash collection, to a mobile money wallet, or to your bank.
As with Western Union, there are still costs to pay for the sender, but it’s worth looking to see if MoneyGram’s fees and exchange rates for your specific transfer are more favourable compared to the Western Union money transfer rates and costs. The option to be paid to a mobile money wallet is also a very helpful alternative if you need your money fast but don’t want to have to visit an agent to get it.
What information is needed to receive a transfer with Western Union
The information and documents needed to receive money with Western Union vary depending on the way you expect to get your payment. Here’s a summary:
What information is needed to receive a bank transfer with Western Union
To receive a payment to your bank in Malaysia you need to give the sender the following:
Your bank’s name and code
Your name as it appears on your bank account
Your bank account number
What information is needed to receive a transfer in cash with Western Union
To receive your payment in cash you will need:
Your government issued ID
The full name of the sender
The MTC which the sender can give you
The exact amount you expect to receive
Acceptable ID documents include:
Passport
Malaysian identity card
Driver’s licence
Residence permit with photo
Work permit with photo
Emergency passport
UNHCR Card
Military/police/government ID
i-Kad
Western Union receive limits for incoming international Transfer
The limits which apply on Western Union incoming transfers depend on a range of factors, including where the sender is, how they arrange the payment, and how you are receiving the money. To give an example, if the sender is in Singapore and is making the transfer online, they can send up to 20,000 SGD using PayNow, or 5,000 SGD for all other payment types.
Limits may be far lower where transfers are being arranged in cash.
If you need to receive a higher value payment, consider Wise as an alternative. It’s easy to create a Wise account online or in app, and there’s not usually any limit to the amount you can receive to the account.
How long does it take to receive an international money transfer with Western Union?
If you’re getting a Western Union payment which you will collect in cash, you can usually pick it up pretty much right away. For transfers to your bank, the timing can vary depending on the sender’s location and how they pay. You may get your money in just a day or two, but it can take up to 5 days in some cases.
For speedy transfers, to be received digitally, take a look at the Wise account. Wise payments can be quick or even instant - so you might find it’s a faster option compared to having money deposited to your bank.
How to track an international money transfer with Western Union
When the person sending you money arranges the payment, they’ll be given a MTCN. This can be used to track the payment online or in the Western Union app. Ask the sender for the MTCN if you’re unsure where your money is.
What can you do if your transfer is not delivered yet
While cash payments can often be available quickly, deposits to banks may take a little longer. If your money hasn’t arrived when you expect it to, you can ask the sender to track the payment using the MTCN, call Western Union or visit the closest branch to ask for advice.
Western Union customer service
If you need more help, you can get in touch with Western Union using the following options:
| Western Union contact information | |
| In person | Visit your local Western Union branch to ask for advice and help |
| By phone | 1800 813 399 |
| Online or in app | Open a chat, either on the Western Union app or desktop site |
Conclusion: Western Union incoming international money transfer
You can receive incoming international transfers through Western Union, either to your bank or to collect in cash but you might find the sender has faced high fees, including an exchange rate markup. Your own bank may also charge you for the incoming payment.
As an alternative, you might want to look at accounts which offer local account details, such as the Wise account. These options let you pass the sender local account details in their home currency, so they can send a local payment which is received to your account in the foreign currency. So - your friend in Singapore can send you a payment in SGD easily, and using a local transfer method, which is usually free or cheap for them, too. You can then hold your balance in the foreign currency, convert and withdraw the money, send it to others, or spend it. This gives flexibility and often means lower costs in the end.