SWIFT/BIC codes in Malaysia

Malaysia: banks and their SWIFT/BIC codes

For Malaysia we have 413 SWIFT/BIC codes, spread over 321 banks. A BIC tells every bank in the chain which institution should receive the money.

Search for the recipient’s bank below and open its page for all codes we have and what else a transfer requires. Further down you can read how codes from Malaysia are built, how to send money to Malaysia without overpaying and how to check a code before you pay.

Sending money to Malaysia for less

The price of a payment to Malaysia is made up of more than one component – not only the fee you see. There is the transfer fee, possibly charges from intermediary banks along the way and, above all, the margin on the exchange rate if the money is converted.

The markup on the rate tends to be the biggest cost item because it is hidden in the rate. Compare the rate you are offered against the mid-market rate, the midpoint you see on financial news sites; the gap is what conversion costs you.

For many routes, a specialist provider is less expensive than a traditional bank transfer. GoldexPay lists these providers side by side, showing the amount that reaches the recipient before you commit.

When does money sent to Malaysia arrive?

There is no single answer for payments to Malaysia: some land within a day while others need several business days. Transfers sent late in the day or on a weekend or public holiday usually start the next business day.

Many banks use SWIFT gpi for faster and traceable payments. Each gpi transfer carries a unique reference, the UETR that banks can use to see where the money is. Save the payment confirmation until the money has arrived – you will need it if something goes wrong.

Which bank in Malaysia has the most codes?

United Overseas Bank (Malaysia) Berhad tops our list of Malaysia banks when it comes to the number of SWIFT/BIC codes. The head office of United Overseas Bank (Malaysia) Berhad has UOVBMYKLXXX; that is usually the right code for a transfer.

A large number of codes usually reflects separate codes for branches, departments or services. Paying someone at United Overseas Bank (Malaysia) Berhad? Use UOVBMYKLXXX unless the recipient gives you a branch code.

International payments to Malaysia and the BIC

Because Malaysia does not belong to SEPA, a transfer from abroad normally goes as a SWIFT payment. That means you always need the BIC of the receiving bank.

Not every country uses IBAN numbers. Check with the recipient exactly which details their bank needs for payments from abroad; banks often publish instructions for this. On the way to Malaysia, a transfer can pass through correspondent banks that charge for their part.

Receiving money in Malaysia from abroad

For a transfer from abroad into a Malaysia account, the sender needs more than the BIC. That means: your full name exactly as it appears on the account, your IBAN or account number, the SWIFT/BIC code of your bank and sometimes your address.

The code of your bank is in the list on this page but always compare it with your own bank details. It helps to add your bank’s name and city because some forms have separate fields for it.

Expect that the amount credited is smaller than what the sender paid. Correspondent banks can take a fee and your own bank may charge for processing, and if the money is converted, an exchange rate margin comes on top. For business payments, agree who bears the costs, so nobody is left short.

How reliable is this list?

The best place to find the right code is a document from the bank itself, such as a statement or the account page in online banking. A wrong code can cause a delay, a payment being sent back or extra fees, so compare it with the list on this page.

We collect bank codes using publicly available data and update them regularly. Even so, banks merge or retire codes, so information can be out of date. Use this list as a starting point rather than the last word: the bank details from the recipient come first. We are a comparison service and not part of any bank listed here.

Be wary of payment requests with a new account, especially when they come by email. Before paying, confirm changed details through a separate channel, using a number you already had.

How SWIFT codes from Malaysia are built

Bank identifier codes follow the same format worldwide: 8 characters, sometimes followed by three more. Characters one to four stand for the bank, the fifth and sixth characters form the country code and characters seven and eight give the location.

In every code from Malaysia, letters five and six show the ISO country code of Malaysia – that is the quickest way to spot one. When those two letters point to another country, you are looking at a bank somewhere else – worth double-checking.

When a code ends in XXX, it means the main office, and the 8-character version leads to the same place. Choose a branch code just if the recipient’s bank asks for it – otherwise stick with the head office.