Exchange Rates for RM

[jejej]

weird , i called raffles at jb before lunch , it was 2.502 . then i called acrade was 2.505 , so went to acrade and ends up 2.508

I called noon time, they give me tt 2.5...

 

[westcoastbay]

Called CIMB s'pore branch yesterday and was told that they can help you open a JB CIMB current account in S'pore. No need to put in any cash until you received a letter to confirm that the JB account is open. Only then you need to transfer M$1000 thru Internet banking. Save a lot of time and trouble. I will be trying it tomorrow.

This applies to opening any CIMB MY account?

 

[shctaw]

Just sharing....

I notice my banker putting a 1% at 2.5300 (2.5045) spread for conversion of Singapore dollar to Malaysia Ringgit recently.
But the spread have since widen to 1.25% at 2.538. (2.507)

They told me if the rate can stay at 2.53 and above for 1 full month; the spread will be lower to 0.75% or lower.

Example...
2.53 spot => 2.511
2.54 spot => 2.521

This is why money changer keep their cash rate around 2.50000. It is not the fault of money changer; it is the bankers whom are behind it.

 

[ginfreely]

Raffles rate used to be very near the spot rate but nowadays seem lower and lower, so it is due to this reason? CIMB seems a good choice now, recall that Maybank also have such transfer but there is a $15 service charge.

Just sharing....

I notice my banker putting a 1% at 2.5300 (2.5045) spread for conversion of Singapore dollar to Malaysia Ringgit recently.
But the spread have since widen to 1.25% at 2.538. (2.507)

They told me if the rate can stay at 2.53 and above for 1 full month; the spread will be lower to 0.75% or lower.

Example...
2.53 spot => 2.511
2.54 spot => 2.521

This is why money changer keep their cash rate around 2.50000. It is not the fault of money changer; it is the bankers whom are behind it.

 

[ginfreely]

For convenience, actually you can open a savings account in CIMB Singapore and in JB.
Then apply for internet banking on both sides and activate linkage to your accounts.
After this, you can transfer money from Singapore to and from Malaysia in an instant from your computer anytime, with no service charge.
Just did a transfer @2.5045.

Thank you for sharing. Sounds like a very good method without any service charge and at such good rate and convenience.

 

[FHBH12]

Thank you for sharing. Sounds like a very good method without any service charge and at such good rate and convenience.

The only catch is it is still tedious if your loan is not linked to CIMB. Then you have to manually transfer RM from CIMB to the other Malaysia bank account in Malaysia. But this is still worth the hassle.

 

[shctaw]

June 3, I mention it will test 2.55.

May 27 - July 27 Ringgit has lost 7.5% against Singapore dollar. Dropping from 2.3550 to 2.5380

Malaysian central bank must be worry about inflation now.

I think it is time to go over to JB and snap up more iPad and iPhone today.

Look like we are heading to 2.55 in a flash.

 

[snowbird]

The only catch is it is still tedious if your loan is not linked to CIMB. Then you have to manually transfer RM from CIMB to the other Malaysia bank account in Malaysia. But this is still worth the hassle.

Don't understand why must you "manually" transfer cash from CIMB to another local bank account in Malaysia???
After you had linked your CIMB acct to the other bank acct, you can transfer via internet from you computer anytime even when you are somewhere in Europe!
Alternatively, you can also make a GIRO arrangement from your acct, for your monthly payments.

 

[potter]

prof, u start to like, jalan jalan jb nowadays ...

 

[Immanuel]

This applies to opening any CIMB MY account?

Hi, they can help to open both savings and current acct in JB. No deposit required until you received the confirmation letter from JB then you will need to transfer thru I-banking the minimum required. M$1000 for current account. Was told that they will also help to arrange for the first cheque book to be sent to u. Subsequent cheque books then need to get it from JB branches. JB acct ATM card need to be collected from JB branches.

 

[FHBH12]

Don't understand why must you "manually" transfer cash from CIMB to another local bank account in Malaysia???
After you had linked your CIMB acct to the other bank acct, you can transfer via internet from you computer anytime even when you are somewhere in Europe!
Alternatively, you can also make a GIRO arrangement from your acct, for your monthly payments.

Can this be done? I'm interested to explore more. Thanks.

 

[shctaw]

Tried internet and walking in transaction with UOB.

Internet you get normal blanket rate the bank set twice daily.

Walk in can give banker instruction and better exchange rate.

Don't understand why must you "manually" transfer cash from CIMB to another local bank account in Malaysia???
After you had linked your CIMB acct to the other bank acct, you can transfer via internet from you computer anytime even when you are somewhere in Europe!
Alternatively, you can also make a GIRO arrangement from your acct, for your monthly payments.

Only to City Sq's UOB and back home straight. Seldom shop in JB.
Prefer ION and Takashimaya in Singapore.

There is a huge food court in City Square. (I think it is on the 6th floor)
DAPURKITA Food Mall, should be around 20,000 sq ft with more than 15 food stalls at least.
http://bendingbackwards.blogspot.sg/2013/06/lunch-hour-dapurkita-food-mall.html

prof, u start to like, jalan jalan jb nowadays ...

 

[EDTBA]

Yesterday cash exchange at Superlink Bukit Indah: 2.502

 

[Lyc396]

TT 2.506 today at Raffles Clifford.

 

[vincentck]

TT @ Arcade Plaza Traders; I called and was given a rate of 2.518 today.

 

[Lyc396]

Wow wow..any minimum amount? Have u used their service before?

TT @ Arcade Plaza Traders; I called and was given a rate of 2.518 today.

 

[ginfreely]

Can this be done? I'm interested to explore more. Thanks.

Probably can do via standing order instruction. Recently Msia reduced the internet fund transfer fee from 50 sen to 10 sen.

 

[vincentck]

I TT with them last Saturday, money supposed to be in my Msia account by tomorrow; service fee of S$10 if below RM50k amount.

The interbank transfer fee in Msia was reduced from RM2 to RM0.10; huge drop.

 

[malpaso]

I TT with them last Saturday, money supposed to be in my Msia account by tomorrow; service fee of S$10 if below RM50k amount.

The interbank transfer fee in Msia was reduced from RM2 to RM0.10; huge drop.

so how does it work? you issue them a cheque in SGD , they convert based on the rate at the time of your transaction, you provide them your bank accout no., then they take a couple of days to send the money over ? And the fee is $10 for any amount?

 

[potter]

June 3, I mention it will test 2.55.

May 27 - July 27 Ringgit has lost 7.5% against Singapore dollar. Dropping from 2.3550 to 2.5380

Malaysian central bank must be worry about inflation now.

I think it is time to go over to JB and snap up more iPad and iPhone today.

52wk Range: 2.3819 - 2.5507. Banged!! You prof.

Do TT today..