How should international students pay and remit money in Malaysia?

There are various ways for international students to make payments and remittances in Malaysia, so you can choose the most suitable option according to your needs. Below is a detailed guide:

I. Daily payment methods

1. in cash

   • Hawkers, night markets or some taxis are still cash-based, so it is advisable to carry a modest amount of Ringgit (RM) with you.
   • Exchange points: The exchange rate at the airport is poor, it is recommended to go to regular exchange shops in the city (e.g. Mid Valley, around KLCC).

2. Debit/Credit Cards of Local Banks

   • open an account: Local bank cards (e.g. Maybank, CIMB) are available with a student visa and a letter of acceptance from the school. Passport, proof of address, etc. are required.
   • Recommended Card Type::
     • Maybank MAE Visa Debit Card: no annual fee, supports online payment.
     • CIMB Student Account: No monthly fee, suitable for small transactions.

3. Electronic Wallet (E-Wallet)

   • Touch 'n Go eWallet: High penetration rate, can be used for parking fees, convenience stores, etc.; need to be tied to a local bank card or topped up through a convenience store.
   • GrabPay: Tied to Grab taxi, it supports code-sweeping to pay for food and beverage and supermarket purchases.

4. International credit/debit cards

   • Visa/MasterCard is widely accepted, but may be refused by some small shops. Pay attention to foreign transaction fees (about 1-3%).

II. Cross-border remittance programmes

1. Remittance from China to Malaysia

• bank wire transfer
  • Domestic bank → Malaysian account (e.g. Maybank): SWIFT code and account number are required. Higher handling fee (about 200-500 RMB), arrival time 1-3 working days.

    SWIFT code example:
  
    Maybank: MBBEMYKL
  
    CIMB: CIBBMYKL
  
  

• Alipay/WeChat Cross-border Remittance
  • Alipay "Shanghai Bank Remittance": Co-operation with Shanghai Bank, single limit of 80,000 RMB, handling fee from 50 RMB.

  ⚠️ Limit of $50,000 foreign exchange per person per year!

alternative

caveat

✅ Avoiding excess triggering of exchange controls

surname San.On-campus payment tips

Most universities accept the following methods of tuition payment.

1️⃣ Flywire. 

2️⃣ Western Union.

*Four. *Frequently Asked Questions❓

Q:Do I need to declare my source of funding?

A: Any single transaction exceeding the equivalent of $10,000 must be reported to Bank Negara.

Efficient financial management can be achieved through a combination of these tools + a focus on time-to-balance costs!

Okay, here are the payment and remittance for international students in MalaysiaAdvanced Supplementary Content, covering more details and practical tips:

III. Optimising the payment of large amounts of tuition fees and rents

1. Payment of tuition fees

• Channels for university co-operation
  • Most colleges recommend Flywire or Western Union for transparent exchange rates and direct payment to the school account (student ID required).

    1. Log in to the school's payment system → select "International Payment" → generate a Flywire bill.
    
    2. Payment in RMB → Flywire automatically converts the payment to RM and sends it directly to the school.
    
    

• credit card instalment: Some schools support 3-12 interest-free instalments (handling fee to be confirmed).

Fee Saving Tips

✅ Compare the total cost of bank wire transfer vs Flywire (including exchange rate difference + handling fee)
✅ Payment in advance: avoid exchange rate fluctuations during the peak period before the start of the school year.

IV. Local Life Money Saving Payment Strategy

1. Transport Card Linkage Payment

   • MyRapid Card (Bus/Metro) can be bundled with Touch 'n Go eWallet auto top-up to enjoy 5% discount.

2. Supermarket / Catering Offer Combination

   • GrabFood/GrabMart: 50% discount on first order for new users (GrabPay balance required).

3. Maximising Membership Points
   |Merchants|Points Programmes|Redemption Suggestions|
   |—|—|—|
   |AEON Big Supermarket|Every RM1=1 cent |2000 points against RM10|
   |Watsons|Student Card Additional 5% off|

5.Emergency remittance solutions

If you need to get to the account quickly:

🔥 Extreme option (within 10 minutes).

- MoneyGram. 

- BigPay (under AirAsia). 

⚠️ Be on the lookout for scams! Always operate through the official app.

*VI. *Tax and compliance reminders

• Remittances from part-time jobs:: Part-time salaries are not taxable if they are paid through regular channels (e.g. Maybank) and the annual income is less than RM34,000.

If you need more specific parsing of a particular scenario (e.g. how to pay utility bills with Alipay), let me know to expand further!