Using BTC to send funds cross-border (in current day)

[bitmover]

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But the recipient is unwilling to open any crypto related accounts...
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Is there any other way currently?  Or must I wait for the industry to mature further?

I believe the industry is already mature enough for this transaction, but your friend is not.

If you have a bank account in Malasya, you could transfer the funds from a Malasya crypto exchange to your bank account (but you probably don't have a bank account there, right?).

You need someone with a verified account in malasya to withdrawal the funds in the local fiat currency.

[minersday]

Bitcoin is the best alternative way to send funds easily across borders with no restrictions.  You just have to educate the person receiving the funds on Bitcoin and how easily it is to receive and withdraw the funds..

[enogheghase123]

I think thats were paypal comes in to play, considering the fact that the recipient dont want to have anything to do with crypto, He can open a paypal account then you transafer the money via btc to his paypal account where he can withdraw to his local bank account.

[emberbekas]

Hi all,

I have money in a UK bank account and I would like to send it to somebody in Malaysia.

It seems simple enough to go GBP -> BTC then BTC -> MYR.

But the recipient is unwilling to open any crypto related accounts currently and, due to AML, I cant use, for example, Local Bitcoins combined with their local bank account (as it's in a different name and would fail verifiation).

Is there any other way currently?  Or must I wait for the industry to mature further?

You cannot send your bitcoin if your friend refuses to accept it. You will need other methods that you and your friends agree on. Sending and receiving money will require the willingness of both parties and for sure, know how to deal with it. You need to negotiate with your friend tho!

[Kakmakr]

It seems simple enough to go GBP -> BTC then BTC -> MYR.

But the recipient is unwilling to open any crypto related accounts currently and, due to AML, I cant use, for example, Local Bitcoins combined with their local bank account (as it's in a different name and would fail verifiation).

It is not that simple for many "newbie" crypto currency user and I have many examples of people that I introduced to Bitcoin to prove that. People do not trust Crypto currencies, because they read a lot of bad things in the media and they also fear new technology.

To top all of that, most exchanges charge a lot of fees for withdrawals and to deposit fiat currency back into your account. Some Banks even close people's Bank accounts, if they pick up that you using those accounts for Crypto currency trading.

The refusal to open a Crypto currency account due to AML requirements is also suspect.