MBSB Says 90% of Its Wise-Powered Overseas Transfers Arrive Within a Minute
MBSB Bank says nine in ten overseas transfers made through its Global Easy Transfer (GET) service now reach the other side within a minute. The Malaysian bank, which built GET with London-based Wise Platform, is promoting the service with a daily limit of RM150,000 and support for 20 currencies, and says most of its users keep coming back.
Key facts
- GET lets MBSB Bank customers send up to RM150,000 a day abroad in 20 currencies, including the US dollar, British pound, euro and UAE dirham.
- The bank says 90% of GET transfers are completed within one minute.
- Repeat users account for more than 90% of GET transactions.
- The service sits inside MBSB’s M Journey app, which shows the exchange rate and fees before a transfer is confirmed and tracks the money until it arrives.
- GET launched in August 2025 as the first tie-up between a Malaysian bank and Wise Platform, with 12 currencies at the start.
What MBSB and Wise are offering
Wise is best known for its own money transfer app, but Wise Platform is the business-to-business side: it lets banks plug Wise’s payment network into their own apps, so customers never leave their bank to send money overseas. MBSB was the first Malaysian bank to sign up, and GET has since grown from 12 to 20 currencies.
The pitch is speed and openness. Customers see the rate and the fee up front rather than finding out later, and they can follow each transfer in real time. MBSB group chief executive Rafe Haneef said customers today want more visibility and control over their transactions. Samarth Bansal, Wise Platform’s general manager for Asia-Pacific, said sending money abroad should feel as fast, simple and transparent as a domestic payment.
The new usage figures are the bank’s own and have not been independently checked, but they suggest the service has found a loyal base. When more than nine in ten transactions come from people who have used GET before, customers are treating it as a routine tool rather than a one-off trial.
What it means for Malaysians
For consumers, the main draw is certainty. Families paying university fees in the UK or Australia, workers sending money home, or anyone settling a bill in US dollars can see the full cost before pressing send. A RM150,000 daily ceiling also covers most personal needs, from tuition to a deposit on property abroad.
- Shop around: Rates and fees differ between banks, licensed remittance companies and apps. Comparing the final amount the recipient will get, not just the headline fee, is the fairest test.
- Check the basics: Only existing MBSB Bank customers can use GET today; new users must open an MBSB account first.
- Stay safe: Fast transfers are hard to reverse. Confirm the recipient’s details directly before sending, especially if someone has asked you to pay urgently.
For banks, MBSB’s numbers show why partnerships like this are attractive. Building a global payment network in-house is costly; renting one lets a mid-sized lender compete with bigger rivals and specialist apps on cross-border transfers, a service that brings customers back again and again.
For small businesses that pay overseas suppliers or freelancers, quicker settlement and visible fees make cash-flow planning easier, although larger or more complex trade payments may still need a bank’s dedicated trade services.
What to watch
- Whether other Malaysian banks sign similar deals with Wise Platform or rival networks, putting more pressure on overseas transfer fees.
- Whether MBSB adds more currencies or opens GET to non-customers through easier digital account opening.
- How Bank Negara Malaysia’s push for cheaper, faster cross-border payments shapes competition between banks, remittance firms and e-wallets.
Read more: How Malaysia’s payment system works · TNG eWallet now books overseas rides in 47 countries
Sources: The Edge Malaysia (November 2026) · Fintech News Malaysia (November 2026) · RinggitPlus (September 2026)
