Hi,
Hope the experienced members here can kindly advise:
I understand some of you (non-Malaysians) opened a Malaysian bank account with chequebook and use it to make progressive payments for your Malaysian properties.
But is there any advantage compared to TT your money over to Malaysia?
I opened an account last year thinking that it would be useful for payment purposes. Later, I realized TT the money over gets the job done easily also. Moreover, Malaysia banks now charge for every cheque issued.
One thing I feel very significant is that, throughout the past few years, the Malaysian Ringgit has become gradually weaker. So just when I thought the Ringgit I deposited was at a good exchange rate back then, I am actually losing money now due to the weaker currency. (The bank interest earned may not cover the loss from currency exchange.)
Thanks in advance for your advice!
Hope the experienced members here can kindly advise:
I understand some of you (non-Malaysians) opened a Malaysian bank account with chequebook and use it to make progressive payments for your Malaysian properties.
But is there any advantage compared to TT your money over to Malaysia?
I opened an account last year thinking that it would be useful for payment purposes. Later, I realized TT the money over gets the job done easily also. Moreover, Malaysia banks now charge for every cheque issued.
One thing I feel very significant is that, throughout the past few years, the Malaysian Ringgit has become gradually weaker. So just when I thought the Ringgit I deposited was at a good exchange rate back then, I am actually losing money now due to the weaker currency. (The bank interest earned may not cover the loss from currency exchange.)
Thanks in advance for your advice!