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Exchange Rates for RM

Cimb is to transfer money. Money changers can't beat the RM20k limit a day. Taking cash doesn't help as the Malaysian bank will only allow RM10k a day deposit.

At OCBC MY, I did a cash deposit MYR10Kto my savings account, then transfer to loan account. At the same time deposit another MYR10K direct to loan account, staff confirm can and it was done. They say deposit to different accounts no problem.
 
At OCBC MY, I did a cash deposit MYR10Kto my savings account, then transfer to loan account. At the same time deposit another MYR10K direct to loan account, staff confirm can and it was done. They say deposit to different accounts no problem.

So troublesome...Beware robbers are watching u...
 
So troublesome...Beware robbers are watching u...

IRON MAN, thanks for your concern. Just sharing. Had to do transfer anyway, and that time cash rate was better than TT rate. No choice, pocket not deep enough, have to find ways. :)
 
This is not true. You meant withdrawal?

The banks limit deposit of cash (without satisfactory supporting documents on the source of funds) to RM10k a day under Anti Money Laundering guidelines.
 
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The banks limit deposit of cash (without satisfactory supporting documents on the source of funds) to RM10k a day under Anti Money Laundering guidelines.

In that case, I money-laundered RM20k - 30k into CIMB a few times liao. :D
 
Hi, any charges for SCB transfer?
Need to be priority member for spore account?
I linked up my accounts, but no link to transfer S$ to RM. Only RM to S$ and rates no good...
Thanks.


Yes, SCB SG to MY, Priority Banking. Online also.
 
i think contrarian refering to CASH. deposit?

Yes, I deposited cash.

Before I knew about this forum, about the advantage of TT or IB transfer, I changed too much RM from the money changer.

Didn't dare to bring in the entire lump sum at once (think there's a need to declare if it's too high also, which I am apprehensive about), so i made a few trips, each RM20k to 30k. At no time was I asked on the origin of my money, nor did I know there was this requirement.
 
yesterday changed at the money changer after esso/mobil jb checkpoint, got for myself 2.55 :)
 
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Money changers are waking up...

But rates still not attractive as compared to the convenience of using banks to remit...
 
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