Exchange Rates for RM

[enjoylife77]

Reuters RM$3.02349

 

[sgcount]

Anyone can kindly recommend a good way to TT a higher amount of RM into Malaysian bank account?

The last time I went to the money remit company, I was told for foreigners, in a week, max transfer is only RM10k! :(

Was told this is a rule by Malaysian banks. Is this true? Another money remit company told me they can do it even if the amount is more than RM10k. Don't know whether to trust them.

Singapore banks can TT but the exchange rate they give is not so good.

Thanks for any advice.

 

[AHGS14]

Anyone can kindly recommend a good way to TT a higher amount of RM into Malaysian bank account?

The last time I went to the money remit company, I was told for foreigners, in a week, max transfer is only RM10k! :(

Was told this is a rule by Malaysian banks. Is this true? Another money remit company told me they can do it even if the amount is more than RM10k. Don't know whether to trust them.

Singapore banks can TT but the exchange rate they give is not so good.

Thanks for any advice.

I have CIMB accounts in Sg & JB and usually go through my RM in CIMB for S$ to Rgt exchange. To negotiate for good rates, he usually sets the minimum amount at S20K and the transfer will take 3 days to get across. This he said is because the transfer requires reporting to the M'sian authority.

 

[AHGS14]

Anyone can kindly recommend a good way to TT a higher amount of RM into Malaysian bank account?

The last time I went to the money remit company, I was told for foreigners, in a week, max transfer is only RM10k! :(

Was told this is a rule by Malaysian banks. Is this true? Another money remit company told me they can do it even if the amount is more than RM10k. Don't know whether to trust them.

Singapore banks can TT but the exchange rate they give is not so good.

Thanks for any advice.

I have CIMB accounts in Sg & JB and usually go through my RM in CIMB for S$ to Rgt exchange. To negotiate for good rates, he usually sets the minimum amount at S20K and the transfer will take 3 days to get across. This he said is because the transfer requires reporting to the M'sian authority.

 

[Tekkun]

I have CIMB accounts in Sg & JB and usually go through my RM in CIMB for S$ to Rgt exchange. To negotiate for good rates, he usually sets the minimum amount at S20K and the transfer will take 3 days to get across. This he said is because the transfer requires reporting to the M'sian authority.

Transfers between own bank account on both sides is not a problem up to maximum of RM1.0m per annum. But I think transferring to third parties in and out of Malaysia is a bit problematic. You have to declare the reason of transferring and back up with documents. If you buy a house or goods, then no issue. But if you transfer for no reasons, then it is subject to many queries. Malaysia is concerned on money laundering as well as terrorism financing.

 

[jasonjst]

Transfers between own bank account on both sides is not a problem up to maximum of RM1.0m per annum. But I think transferring to third parties in and out of Malaysia is a bit problematic. You have to declare the reason of transferring and back up with documents. If you buy a house or goods, then no issue. But if you transfer for no reasons, then it is subject to many queries. Malaysia is concerned on money laundering as well as terrorism financing.

Transfer to Ahjeep AC No 1 , sure no problem , no question ask

 

[Tekkun]

Transfer to Ahjeep AC No 1 , sure no problem , no question ask

Yalor. Big Man transfer no question asked.
Zika transfer, also no question asked.

 

[sgcount]

I have CIMB accounts in Sg & JB and usually go through my RM in CIMB for S$ to Rgt exchange. To negotiate for good rates, he usually sets the minimum amount at S20K and the transfer will take 3 days to get across. This he said is because the transfer requires reporting to the M'sian authority.

Thanks....

I used to have CIMB Malaysian account but I closed it because they charged annual fee, closed my account after a few months of not using, then got to go down pay a small fee to reactivate it, etc. Quite troublesome.

 

[AHGS14]

Thanks....

I used to have CIMB Malaysian account but I closed it because they charged annual fee, closed my account after a few months of not using, then got to go down pay a small fee to reactivate it, etc. Quite troublesome.

For preferred customer (cheaper to qualify in Msia, and you will also be accorded the preferred status in Sg), there is no charge. CIMB even give you a infinite card which will entitle you to free usage of airport lounges for free. Service, for preferred customers at least is much better than Maybank.

 

[AHGS14]

Thanks....

I used to have CIMB Malaysian account but I closed it because they charged annual fee, closed my account after a few months of not using, then got to go down pay a small fee to reactivate it, etc. Quite troublesome.

For preferred customer (cheaper to qualify in Msia, and you will also be accorded the preferred status in Sg), there is no charge. CIMB even give you a infinite card which will entitle you to free usage of airport lounges for free. Service, for preferred customers at least is much better than Maybank.

 

[snowbird]

Thanks....

I used to have CIMB Malaysian account but I closed it because they charged annual fee, closed my account after a few months of not using, then got to go down pay a small fee to reactivate it, etc. Quite troublesome.

Hello, how much is the annual fee?
It's only I think RM24/pa that amounts to RM2 /month, this is good example of penny wise pound foolish.

 

[sgcount]

Hello, how much is the annual fee?
It's only I think RM24/pa that amounts to RM2 /month, this is good example of penny wise pound foolish.

Your mouth very smelly and sharp to attack others so readily huh?

The CIMB account also comes with other miscellaneous charges.

I've got another Malaysian account that charges RM120/month. I don't go into Johor so often like you to stay in your property there. Every time the account gets locked up because I didn't use it for a few months, I have to take a day's leave from work and spend several hours going in and out of JB just to re-activate the account when I need to use it.

 

[DCputeri]

Bedok MC can get 2.99 on Sunday.

 

[enjoylife77]

Reuters RM$3.0184

 

[enjoylife77]

Reuters RM$3.0350
Anybody got the MC rate?

 

[snowbird]

"The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) said businesses surveyed showed pessimism this year and for 2017"

Expect the RM to remain weak for some time.

Read More : http://www.nst.com.my/news/2016/09/...my-near-term-sentiment-picks-2018-says-acccim

 

[Tekkun]

"The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) said businesses surveyed showed pessimism this year and for 2017"Expect the RM to remain weak for some time.Read More : http://www.nst.com.my/news/2016/09/...my-near-term-sentiment-picks-2018-says-acccim

Prices of everything in Malaysia will rise, including building materials and cost of construction if RM remain weak.

 

[snowbird]

Prices of everything in Malaysia will rise, including building materials and cost of construction if RM remain weak.

Yes.
High inflation will cause hardship to everyone except for people who owns a whole collection of Hermes Birkin bags.
The Chinese Chambers of Commerce already forecast a gloomy outlook at least till end 2017, importers will be in for a hard time, those with children studying overseas will be hard hit.

 

[Tekkun]

Yes.High inflation will cause hardship to everyone except for people who owns a whole collection of Hermes Birkin bags.The Chinese Chambers of Commerce already forecast a gloomy outlook at least till end 2017, importers will be in for a hard time, those with children studying overseas will be hard hit.

On this subject, real property prices will rise. Whether there will be takers or not, is a different subject altogether. BTW, I do not comment on politics.

 

[snowbird]

On this subject, real property prices will rise. Whether there will be takers or not, is a different subject altogether.

So what if you get to see paper gain on your property when there's little enquiry on it?
You just sit there and watch it rise and fall and rise and fall.............but cannot cash out!