MoneyMatch Transfer Platform

Frequently Asked Questions

Safety & Security


As a regulated entity, MoneyMatch is strictly regulated by Bank Negara Malaysia under the Financial Technology Regulatory Sandbox to provide an online platform in the supply of funds remittances via MoneyMatch Transfer. Our security measures include bank level anti-phishing login features as well as a highly secured verification procedure. All our security measures and procedures are in place to help protect your company’s account from any unauthorised access.

As a Financial Technology company regulated by Bank Negara Malaysia, we are required to perform on-site Know Your Customer (KYC) verification for businesses.

We take your company’s data privacy seriously and it remains a top priority as per our Personal Data Protection Policy as well as Terms & Conditions below:


Basic Information


We are a Malaysian based FinTech company regulated by Bank Negara Malaysia providing cross border remittance services digitally.

We are able to send payments in trading currencies such as USD or local currencies to any countries in the world except for regulatory body sanctioned countries.

Based on regulations set by Bank Negara Malaysia, we are only able to transfer funds out from Malaysia to other countries.

  1. RM8 flat fee if your company is sending funds in the native currency (e.g. SGD to Singapore, CNY to China)
  2. RM68 flat fee if your company is sending funds in the non-native currency (e.g. USD to Singapore, USD to UK) whereby MoneyMatch absorbs both sender and beneficiary bank charges.

OR

  1. RM18 flat fee if charges are borne by the beneficiary for sending funds in the non-native currency (e.g. USD to Singapore, USD to UK) whereby MoneyMatch only absorbs sender bank charges and beneficiary will be charged further by the beneficiary bank.

  • Minimum amount of RM500 equivalent
  • Maximum amount of RM200,000 equivalent

By being a fully digital platform, from the account registration, to the KYC process and the actual transfer of funds, MoneyMatch is able to keep all operational cost low and pass this cost savings back to your company.

MoneyMatch updates the rate on every 15 minutes interval and ensures that the rates provided are significantly better than what banks or other money transfer services can offer. (For above RM50,000 in transactional volume, kindly request for special rate from us)

MoneyMatch offers a competitive exchange rate in comparison to the local banks with no hidden fees or charges.

Yes, but the invoice should have an English translation for compliance approval purposes.


Business Account Registration


For first time users, your company’s authorised person may set up an account using his/her email address on our MoneyMatch Transfer website. Once the email is verified, please proceed to complete the details required. Finally, a MoneyMatch representative will contact you to schedule a visit to your office.

We will need a Letter of Authorisation provided by us, Director’s MyKad photocopy, as a one-time Know Your Customer (KYC) verification requirement, and Director’s Passport photocopy (if non-Malaysian). We will visit your office premise to collect these documents to complete the verification process.

  1. Specify the amount and currency that you are sending.
  2. Select the transfer option (to beneficiary’s personal or business account)
  3. Key in your beneficiary details such as beneficiary’s bank and business details as well as address.
  4. Key in your company’s local bank account details.
  5. Review the order, and then choose the company’s source of funds and purpose of transaction. Kindly fill up your supplier’s invoice number at ‘Note for your beneficiary’ section.
  6. Confirm and upload the invoice to complete your order.
  7. Transfer your funds via your local online banking portal (eg Maybank2E, CIMB Clicks) to MoneyMatch’s RHB bank account.
  8. After transfer of funds, please upload the payment slip (PDF/image file/screenshot) into our MoneyMatch platform (“$” icon in transaction history) to prove that you have made a transfer to MoneyMatch.

Each company should be registered under a different business account with different login email.


Transaction


NO. Your company can only send funds using its own bank account registered under its business name.

Yes, you can if your company is under a sole proprietorship. No, if your company is a private limited (Sdn. Bhd.) company. You can only transfer funds from your company bank account in this case.

It takes 1-2 working days to reach the recipient. The time it takes depends on your transaction order’s screening, time of deposit, currencies involved, and bank holidays including weekends in both the sending and receiving countries. Please take note that we can only send or receive your company’s funds during regular banking hours. For more information, kindly contact our business@moneymatch.co

It depends on what detail is in issue. Please email soonest possible to business@moneymatch.co for further clarification.

It depends on the status of your current order. Please contact business@moneymatch.co for further action.

You will be contacted by MoneyMatch if your transaction is unsuccessful in reaching your beneficiary. As soon as the funds are reflected into our account, we’ll get in touch with you to check if you want them to be resent or refunded. Please note that it can take up to two weeks for the receiving bank to return the funds to us. The receiving bank may also charge a processing fee, so the amount we receive may be slightly lower than the amount originally sent.

It will be provided once your transaction has been processed out of MoneyMatch’s bank account However, if you require it sooner email at business@moneymatch.co

Yes. Please state the exact partial amount clearly on the invoice. If handwritten, include your signatory and company stamp as you state the partial amount. You can also type it into the invoice if you prefer. E.g.: Partial payment of USD 5670.87, sign, and stamp on invoice.

You can upload the same invoice when you are making your balance payment. However, if you have more than one balance payment, please state details of your next few balance payments on your first transaction invoice. E.g.: Partial payment of USD 5670.87, XXXX.XX, and YYYY.YY (or can be in %). Lastly, ensure that the partial amount you are transferring tallies with the order amount.

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