SpeedSend: The Wiser Choice for Your International Money Transfer

Fatin Haris

Fatin Haris

Last updated 11 October, 2023

In today's globalized world, sending money across borders has become a part of our lives. Whether you're supporting family abroad, buying goods for personal use or for investment abroad, the need for reliable and cost-effective remittance services is vital. For years, banks have been the go-to option, but the perception of hefty fees and hassle has persisted. It's time to dispel this myth and introduce you to SpeedSend, a remittance service by CIMB that offers competitive exchange rates and low fees, making it a standout choice in the market.

The Challenges of Using Bank Remittances

Many people have steered clear of bank remittances due to several perceived hassles:

  • High Fees: Banks have often been associated with high transaction fees, leaving senders and recipients with less money in their pockets.
  • Unfavourable Exchange Rates: Banks have been criticized for offering less competitive exchange rates compared to other remittance options.
  • Complex Processes: Traditional banking systems can be complex, involving paperwork, branch visits, and lengthy processing times.

Your Hassle-Free Solution: SpeedSend

SpeedSend, a CIMB remittance service, redefines the way Malaysians send money abroad. With a focus on low remittance fees and superior services, it is revolutionizing the international money transfer experience. Let's explore the key factors that make SpeedSend the preferred choice in Malaysia:

  • Competitive transaction fee and exchange rates

SpeedSend offers better value for your money on international money transfers, with a combination of competitive foreign exchange rates and a flat RM10 transaction fee, regardless of the transfer amount. This means that your recipient will receive the maximum amount possible, once all charges are included.

Check out the table below to get an overview of the competitive transaction fee and exchange rates: 

Transaction fees and exchange rates will affect how much your recipient will get. Check out the table below to see how much you actually get with RM10,000 sent to these major countries.


To the United Kingdom

To Hong Kong

To India


GBP 1,743

HKD 16,442

INR 175,436

Leading Fintech

GBP 1,740

HKD 16,419

INR 174,387

Leading Money Changer

GBP 1,724

HKD 16,403

INR 175,389

Leading Local Bank

GBP 1,706

HKD 15,929

INR 169,298

The amount is calculated using indicative rates at other providers' websites as of 4 October 2023 at 2:40 pm and inclusive of all fees & charges. The actual FX rates will be based on the rates at the time the transactions are performed. For the latest updates, click here.

  • Higher Daily Transfer Limits 

Need to send a substantial amount overseas? SpeedSend offers a daily transfer limit of RM50,000 via CIMB Clicks, CIMB OCTO App, or CIMB branches, compared to the lower limits offered by other remittance services. This higher limit is not only convenient but also reassuring for individuals remitting larger amounts.

  • Instant Transfers to Major Destinations

SpeedSend ensures that your money reaches its destination swiftly and offers instant transfers to key remittance corridors, rivaling the speed of fintech players in the industry. Whether you need to send money to the UK, Hong Kong, India, Singapore, Indonesia, Thailand, Sri Lanka, or the Philippines, SpeedSend got you covered!

  • Enhanced Security

SpeedSend ensures the security of your funds throughout the entire transfer process. Whether you choose to transact at CIMB branches, via OCTO App, or through CIMB Clicks online banking, rest assured that your money is meticulously safeguarded.

By choosing SpeedSend, you can enjoy the speed and convenience of fintech-driven transfers while benefiting from the security and reliability of a trusted bank. Say goodbye to hidden fees, enjoy competitive rates, and experience a hassle-free and cost-effective remittance process.

Comparing SpeedSend to Other Options

To provide you with a clear picture of SpeedSend's advantages, let's compare it to other remittance services:



Fintech Services

Traditional Banking Services

Exchange Rates and Fees

Competitive exchange rates and a flat RM10 fee

Potentially favourable exchange rates but high/variable fees

Competitive exchange rates and may subject to agent bank charges

Speed and Convenience

Instant transfers via CIMB Clicks & CIMB OCTO App, matching fintech speed

Quick and user-friendly apps for speedy transfers

Slower international transfers, less streamlined processes

Safety and Assurance

Assurance of a trusted bank with funds safeguarded throughout the process

Concerns about safety and regulatory compliance

Known for safety and regulatory compliance, but may lack speed

Accessibility and Technology

Modern technology with online and mobile app options

Convenient digital platforms

May have limited digital offerings, making online transfers less convenient


Choosing the Right Option for You

Your remittance service choice should depend on your specific requirements. If you value the convenience of quick transfers, favourable exchange rates, and transparent fees, SpeedSend is likely the better choice. It's particularly suitable for those sending larger amounts or needing instant transfers to major destinations without worrying about fees. 

The Smarter Choice: SpeedSend

It's time to rethink your approach to remittances. You get to enjoy the best of both worlds in terms of security from a bank service with the speed and affordability of fintech players. Don't settle for costly and cumbersome options when you can choose SpeedSend. Get more value for your money, enjoy the convenience of instant transfers, and say goodbye to unexpected deductions. SpeedSend is not just a service; it's a smarter way to remit money. So, why wait? SpeedSend it! Make the wiser choice for remittance today and experience the difference for yourself. Have you been remitting wisely?


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