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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
- Joined
- Oct 3, 2012
- Messages
- 2,705
- Points
- 48
Yes, some of the money exchangers in the west zone only accept TT rm9990 the max per day..
- Joined
- Oct 3, 2012
- Messages
- 2,705
- Points
- 48
dude, any charges per transaction for rm 9990?
Yes,admin fee of $10 per transaction.
TT at Raffles (Clifford) at 2.4939 on Saturday. The lady at the counter said can only remit once a week and maximum RM10,000 if you are Singaporean with Malaysia account. I asked her if Jurong branch can do the same, she said yes but your account for both branches are not linked, meaning if you have an account in Clifford, you still need to open another one in Jurong Point. To open an account, you need to:-
1) Fill in a form with your particulars and your beneficiary bank particulars (bank name, bank address/branch, bank account number and account name)
2) They will want to see your NRIC
3) They will quote you the rate and asked whether you want to pay the S$10 fee from the remittance or separate
4) After the transaction completed, you will be given a receipt, which has your account name and number on it, together with the transacted details
5) If you want to remit to the same bank next time, just bring the receipt and they will use the same account information for the remittance.
After remittance, I did a quick check on the costs of remittance. Apart from the S$10 per time, there were also parking charges of $5.40 (more than 30 minutes at Golden Shoe carpark on a Saturday). So the effective rate of remittance (after costs) if one makes a maximum remittance of RM10,000 drops from 2.4939 to 2.4842. For small amount remittance, it may be cheaper than going to the bank. But for larger amounts, the costs may add up if need to do it bit by bit.
I do have a question about the maximum amount to be remitted per day. Is this RM10,000 set by local money changers or is this a legal restriction by the Malaysian govt for funds inflow to foreigner's bank account in Malaysia?
1) Fill in a form with your particulars and your beneficiary bank particulars (bank name, bank address/branch, bank account number and account name)
2) They will want to see your NRIC
3) They will quote you the rate and asked whether you want to pay the S$10 fee from the remittance or separate
4) After the transaction completed, you will be given a receipt, which has your account name and number on it, together with the transacted details
5) If you want to remit to the same bank next time, just bring the receipt and they will use the same account information for the remittance.
After remittance, I did a quick check on the costs of remittance. Apart from the S$10 per time, there were also parking charges of $5.40 (more than 30 minutes at Golden Shoe carpark on a Saturday). So the effective rate of remittance (after costs) if one makes a maximum remittance of RM10,000 drops from 2.4939 to 2.4842. For small amount remittance, it may be cheaper than going to the bank. But for larger amounts, the costs may add up if need to do it bit by bit.
I do have a question about the maximum amount to be remitted per day. Is this RM10,000 set by local money changers or is this a legal restriction by the Malaysian govt for funds inflow to foreigner's bank account in Malaysia?
I thought Raffles (Jurong Point) cannot remit for Singaporeans already? Confused...
"TT at Raffles (Clifford) at 2.4939 on Saturday. The lady at the counter said can only remit once a week and maximum RM10,000 if you are Singaporean with Malaysia account. I asked her if Jurong branch can do the same, she said yes but your account for both branches are not linked...."
How come in your previous posting you talk about Jurong point branch? I am even more confused
How come in your previous posting you talk about Jurong point branch? I am even more confused
Last edited:
"TT at Raffles (Clifford) at 2.4939 on Saturday. The lady at the counter said can only remit once a week and maximum RM10,000 if you are Singaporean with Malaysia account. I asked her if Jurong branch can do the same, she said yes but your account for both branches are not linked...."
How come in your previous posting you talk about Jurong point branch? I am even more confused
Sorry for confusing you as I was also confused he he he. So let me try again. I read before in this forum (from sis Crystal and Whathefish) that Raffles Jurong Point does not do TT for Singaporeans to Malaysia account anymore. So when I did my TT at Raffles Clifford Centre, I asked the lady if I can do TT at Raffles Jurong Point. She said can, even when she knew I was a Singaporean. So, what she is saying is different from what some forumners are saying here. Without actually going to Raffles Jurong Point myself, I cannot verify whose version is the correct one. So maybe those Singaporeans who recently got rejected by Raffles Jurong Point to TT money to Malaysia can clarify?
Without actually going to Raffles Jurong Point myself, I cannot verify whose version is the correct one. So maybe those Singaporeans who recently got rejected by Raffles Jurong Point to TT money to Malaysia can clarify?
62648600 Raffles JP
65380080 Raffles Clifford Ctr
Hope it helps...
Just to share that I was rejected by raffles jurong point to TT as well as they do not provide such service to Singaporean with Malaysia account.
Sorry for confusing you as I was also confused he he he. So let me try again. I read before in this forum (from sis Crystal and Whathefish) that Raffles Jurong Point does not do TT for Singaporeans to Malaysia account anymore. So when I did my TT at Raffles Clifford Centre, I asked the lady if I can do TT at Raffles Jurong Point. She said can, even when she knew I was a Singaporean. So, what she is saying is different from what some forumners are saying here. Without actually going to Raffles Jurong Point myself, I cannot verify whose version is the correct one. So maybe those Singaporeans who recently got rejected by Raffles Jurong Point to TT money to Malaysia can clarify?
Wow, that's pretty good when XE.com was showing 2.49x. But it's too far for me to travel since I'm based in the west.
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