See how Maybank's exchange rates stack up for your next international money transfer.
If you need to transfer money overseas or receive an overseas payment, the competitiveness of the exchange rate you're offered can make a big difference to the amount of money that ends up with your recipient at the end of the day. However, exchange rates will vary widely from one money transfer service to another, so it's always good to compare.
This guide shows the typical foreign currency exchange rates at Maybank and how they compare to some other options.
What are Maybank's exchange rates like?
To find out what the exchange rate is to send AUD with Maybank, you'll need to either have an account or call and speak to one of Maybank's currency specialists. Banks often add around 5% to 10% to the mid-market exchange rate in Australia, so you can expect to see something similar here.
A lot of specialist money transfer services, by comparison, will only add a margin of 1% to 2%. Get some quotes below to see how Maybank compares to the other options and to the mid-market rate.
Also known as the interbank rate, the mid-market rate is what the banks offer when trading between themselves. This rate generally isn't offered to customers. Instead, banks and most money transfer services will add a margin onto the mid-market rate. How big the margin is different with each service.
You should always compare the rate you're offered against the mid-market rate to see if it's a good deal or not. The calculator below will give you an idea of the mid-market rate.
Updated: 24 Jun 2019 20:32:07 UTC
Sending money with Maybank: What to know
What we like
Instant funds transfer to Brunei, Singapore and the Philippines. Maybank's RegionLink service provides the convenience of transferring funds to accounts with Maybank in Brunei, Singapore and the Philippines via Maybank Online Banking instantly at discounted rates.
Wide network. You can send money to virtually anywhere in the world with Maybank's wide network of correspondent banks.
What to watch out for
Not the best rates. Maybank often adds a larger margin to the exchange rate than specialist money transfer services typically do.
Fees apply. Although Maybank's overseas transfer fees may be lower than some other banks, they're still high compared to most specialist transfer services. Extra fees such as agent charges can also apply in different circumstances.
How do Maybank's exchange rates compare?
Maybank can be a great money transfer option if you make transfers to Brunei, Singapore and the Philippines frequently. But if you need to transfer to other countries, other specialist money transfer companies can typically offer you better exchange rates than Maybank.
The table below shows a list of money transfer service providers and gives an indication of their exchange rates and fees.
The "Rate" and "Amount Received" displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention "Finder" before you commit to a brand.
Zyane is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
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