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⚡ Quick Answer
For most Malaysians sending money abroad, Wise wins — it offers the mid-market exchange rate with transparent, low fees (typically 0.5–1.5%). BigPay is competitive for small transfers within ASEAN and is excellent as an everyday travel card, but Wise covers more currencies and generally offers a better rate for larger international transfers.
BigPay vs Wise at a Glance
| Feature | BigPay | Wise |
|---|---|---|
| Exchange rate | Near mid-market (varies) | Mid-market rate (live) |
| Transfer fee | RM1.50–RM5 flat (ASEAN) | ~0.5–1.5% of transfer amount |
| Supported currencies | ~20+ | 40+ |
| Supported corridors | Primarily ASEAN | 80+ countries worldwide |
| Transfer speed | Minutes to 1 business day | Minutes to 2 business days |
| Physical card | Yes (Mastercard) | Yes (debit card) |
| Minimum transfer | RM10 | ~RM15 |
| Maximum transfer | RM10,000/month | RM500,000+ (with verification) |
| App rating (iOS) | 4.7/5 | 4.8/5 |
| Best for | ASEAN transfers, travel spending | All international transfers, freelancers |
Exchange Rates & Fees — The Details
BigPay
BigPay uses a rate close to the mid-market rate but applies a spread of roughly 0.5–1.5% depending on the currency pair. The spread is not disclosed upfront as a percentage — you see the indicative rate before confirming.
Transfer fees are low for ASEAN transfers:
- To Singapore: RM1.50 flat fee
- To Thailand, Indonesia, Philippines: RM3–RM5 flat
- To countries outside ASEAN: fees vary and can be higher
For small amounts (under RM500), BigPay’s flat fee structure is very competitive. A RM200 transfer to Singapore costs just RM1.50 in fees — that’s 0.75%.
Wise
Wise uses the live mid-market exchange rate — the same rate you see on Google — with zero markup on the rate itself. All fees are shown as a transparent percentage before you confirm.
Typical fees from MYR:
- MYR → SGD: ~0.5%
- MYR → USD: ~0.9%
- MYR → GBP/EUR: ~0.6–0.8%
- MYR → AUD: ~0.7%
For a RM2,000 transfer to the UK, Wise charges roughly RM14 in fees. A traditional bank would charge RM30–RM80 in fees plus a poor exchange rate worth another RM40–RM80 in hidden cost.
Bottom line: For amounts above RM500, Wise’s percentage-based fee is usually cheaper. For very small ASEAN transfers, BigPay’s flat fee can win.
Transfer Speed
Both apps are generally fast, but timelines vary:
BigPay — Transfers to Singapore (PayNow-linked accounts) often arrive within minutes. Other ASEAN corridors typically settle within 1 business day.
Wise — Most transfers complete within 1–2 business days, though Wise’s “Fast” transfers (marked with a lightning bolt in the app) arrive within minutes for popular corridors like MYR → SGD and MYR → USD when sending to bank accounts.
For emergency transfers, both are significantly faster than traditional bank wire transfers (which take 2–5 business days).
Supported Currencies & Countries
This is where the difference is most stark:
BigPay supports around 20+ currencies and is focused on the ASEAN region — excellent for Malaysia, Singapore, Thailand, Indonesia, Philippines, and Vietnam. If you’re transferring money within Southeast Asia, BigPay covers most use cases.
Wise supports 40+ currencies across 80+ countries, including the US, UK, Europe, Australia, Canada, Japan, and beyond. If you’re a freelancer getting paid from a US or European client, receiving payment via Wise’s local account details (e.g., a UK sort code or US routing number) is a game-changer.
Account Features
BigPay
- Mastercard physical and virtual card for spending
- Auto-reload from your linked Malaysian bank
- Bill payments and phone top-ups within Malaysia
- International transfers to linked bank accounts or mobile numbers
- Simple budgeting and spending history
- Backed by AirAsia (Capital A) — useful if you’re an AirAsia frequent flyer
Wise
- Multi-currency account — hold balances in 40+ currencies simultaneously
- Receive money like a local: Wise gives you local bank details in USD, GBP, EUR, AUD, CAD, SGD and more
- Wise card (debit) for spending in local currency with automatic conversion at mid-market rate
- Convert between currencies at any time at the live rate
- Useful for freelancers, digital nomads, remote workers, and anyone with international income
- No account maintenance fees
Which Is Better for Travel?
For spending abroad, both cards are excellent alternatives to traditional debit or credit cards. Banks typically charge 1–3% foreign transaction fees; both BigPay and Wise charge far less.
BigPay card — no foreign transaction fee (up to your monthly transfer limit). The exchange rate used is close to mid-market. Ideal for ASEAN travel (Thailand, Bali, Singapore, Vietnam).
Wise card — uses the live mid-market rate for spending. No foreign transaction fee. Works in 150+ countries. Better for non-ASEAN destinations like Europe, Japan, Australia, or the US.
If you travel primarily within Southeast Asia, BigPay is perfectly adequate. For long-haul travel or frequent non-ASEAN trips, Wise’s wider currency support gives it the edge.
Which Is Better for Receiving Freelance Payments?
Wise wins clearly here. Wise’s local account details let you receive payments from international clients as if you had a local bank account in their country:
- US clients pay you to a US bank account (routing + account number)
- UK clients pay you via a UK bank account (sort code + account number)
- EU clients pay via IBAN
The money lands in your Wise multi-currency wallet, where you can convert to MYR at the mid-market rate and withdraw to your Malaysian bank. BigPay does not currently offer this receive-money-as-a-local-account feature.
Our Recommendation
Use Wise as your primary international transfer and travel card if you send money to non-ASEAN countries, receive freelance payments from abroad, or travel outside Southeast Asia regularly.
Use BigPay if you mostly transfer money within ASEAN (especially Singapore) or send small amounts frequently where the flat fee is competitive.
Many Malaysians use both — BigPay for day-to-day local spending and ASEAN transfers, Wise for everything else. Sign up for Wise via our referral link for a fee-free first transfer:
👉 Sign up on Wise via this link for a fee-free transfer
Frequently Asked Questions
Is BigPay safe to use in Malaysia?
Yes. BigPay is regulated by Bank Negara Malaysia (BNM) as a licensed e-money issuer. Your funds are safeguarded — BigPay is required to hold customer funds in a separate trust account with a licensed Malaysian bank.
Is Wise legal in Malaysia?
Yes. Wise operates legally in Malaysia and is registered with BNM as a remittance service provider. It has processed billions of dollars in transfers globally and is publicly listed on the London Stock Exchange.
Does BigPay work outside Malaysia?
Yes — the BigPay Mastercard works wherever Mastercard is accepted globally. However, BigPay’s international transfer corridors are primarily ASEAN. For transfers to Europe or the US, Wise is more practical.
Can I use both BigPay and Wise?
Absolutely — and many Malaysians do. There’s no conflict in holding both accounts. Use each where it’s strongest.
Does Wise charge for receiving money?
Receiving money in most currencies is free on Wise. There’s a small fee for receiving USD wire transfers (around USD 4.14). Converting currencies within your Wise account incurs the standard percentage fee.
What’s the maximum I can send with BigPay?
BigPay currently limits international transfers to RM10,000 per month. Wise allows much higher limits (typically RM500,000+ after full account verification), making it more suitable for large transfers.
