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Citibank Malaysia allows global transfer from Singapore to Malaysia bank account at no charge. The maximum amount transferable is SGD 50,000.
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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Just remitted in Hougang with TT at 2.503
Online Interbank GIRO (IBG) charge is only RM0.10 per transaction. The RM5 charge is for transfer via instruction. Limit is RM10k per day, for Maybank, regardless of same bank or different banks.
HSBC premier also provide free transfer through global transfer across countries. For premier, they allow foreigner daily transfer through Internet to a max of RM40k instead of normal RM10k. For interbank transfer through IBG Meps, no charges for premier too.
I have a msian Housing loan a/c with Bk A (M). I intend to trsf TT S$ fm CIMB (s) to CIMB (M). After the conversion to ringgit, I intend to TT trsf from CIMB (M) to Bk A (M). So i will incur RM5 to make the trsf fm CIMB (M) to Bk A (M)? I am a Sporean.
Thanks Vincent.
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If you use Internet banking on CIMB Msia to transfer to another Msian bank, the transfer only cost RM0.10.
The RM5 charge could be for standing instructions. I always use I-banking to transfer funds from Maybank to RHB or Alliance or Citibank; all Msian branches and the charge is only 10cents per transaction.
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Yeah 10 sen only to transfer, last time 50 sen.
Ringgit hits lows, may see further pressure
Ratings downgrade possible after Fitch Ratings review
By pauline ng In Kuala Lumpur
Published August 01, 2013
AS the Malaysian currency plunged to multi-year lows against its Singapore counterpart and the US dollar, it may come under even more pressure.
It could be battered further with a ratings downgrade after Fitch Ratings reviewed the country's sovereign credit rating outlook to negative from stable because of persistent weakness in its public finances.
A weaker currency would lead to more expensive imports and US dollar loans for Malaysia, analysts warned yesterday.
The Malaysian stock market fell 1.25 per cent yesterday after the ringgit had sunk to new lows. It touched a three-year bottom of 3.245 against the greenback, and even worse, a 15-year low of 2.586 against the Singapore dollar.
A downgrade, if it happens, "could lead to outflow of foreign capital and result in higher borrowing costs for the country", RHB Bank economist Peck Boon Soon observed.
But Fitch's caution was not a surprise given its previous hints if Malaysia did not improve its fiscal position.
Fitch also revised the outlook on Petronas' long-term currency issuer default rating to negative from stable yesterday.
Mr Peck expects the government to resume fiscal reform once the election for Umno's top office bearers is over in October, "which may convince Fitch the government is committed to bring down its budget deficit".
Prime Minister Najib Razak is the president of the dominant party but is expected to face a challenge for the leadership because his Barisan Nasional coalition had suffered bigger-than-expected losses in the May general election.
Because of fear of a public backlash, Mr Najib had put off subsidy rationalisation and the implementation of a goods and services tax (GST).
His administration maintains that the public debt levels are manageable and the fiscal deficit will be pared to 4 per cent of gross domestic product (GDP) this year.
But concerns remain given that exports in the first half have been weaker than anticipated, adding to doubts that the economy can expand 5 per cent as projected. Moreover, the government has requested an additional RM12 billion (S$4.7 billion) supplementary budget.
The sharp rise in government contingent liabilities was highlighted by Fitch, which noted that state debt guarantees stood at 15.2 per cent of GDP as at end-2012 from 9 per cent as at end-2008 because of the participation of state- owned enterprises in government-led investment programmes. These include the mass rapid transit line, the Tun Razak Exchange and a proposed Kuala Lumpur-Singapore high speed train.
The amount of loans and bonds guaranteed by the government has jumped to RM143 billion as at 2012 from RM55.7 billion in 2005.
Other risk factors for Fitch were further erosion of the current account surplus as well as interest rate shocks impairing household debt servicing ability.
On subsidies, Fitch said that the segment now accounts for 18 per cent of revenue from less than 8 per cent in 2004.
Its expansion is not surprising given how inefficient the broad-based subsidies are. A case in point: a diesel shortage at petrol stations has been reported ahead of the Raya holidays, but only affects subsidised diesel (RM1.80 per litre) and not normal priced diesel (RM2.80).
http://www.businesstimes.com.sg/pre...t-hits-lows-may-see-further-pressure-20130801
Ratings downgrade possible after Fitch Ratings review
By pauline ng In Kuala Lumpur
Published August 01, 2013
AS the Malaysian currency plunged to multi-year lows against its Singapore counterpart and the US dollar, it may come under even more pressure.
It could be battered further with a ratings downgrade after Fitch Ratings reviewed the country's sovereign credit rating outlook to negative from stable because of persistent weakness in its public finances.
A weaker currency would lead to more expensive imports and US dollar loans for Malaysia, analysts warned yesterday.
The Malaysian stock market fell 1.25 per cent yesterday after the ringgit had sunk to new lows. It touched a three-year bottom of 3.245 against the greenback, and even worse, a 15-year low of 2.586 against the Singapore dollar.
A downgrade, if it happens, "could lead to outflow of foreign capital and result in higher borrowing costs for the country", RHB Bank economist Peck Boon Soon observed.
But Fitch's caution was not a surprise given its previous hints if Malaysia did not improve its fiscal position.
Fitch also revised the outlook on Petronas' long-term currency issuer default rating to negative from stable yesterday.
Mr Peck expects the government to resume fiscal reform once the election for Umno's top office bearers is over in October, "which may convince Fitch the government is committed to bring down its budget deficit".
Prime Minister Najib Razak is the president of the dominant party but is expected to face a challenge for the leadership because his Barisan Nasional coalition had suffered bigger-than-expected losses in the May general election.
Because of fear of a public backlash, Mr Najib had put off subsidy rationalisation and the implementation of a goods and services tax (GST).
His administration maintains that the public debt levels are manageable and the fiscal deficit will be pared to 4 per cent of gross domestic product (GDP) this year.
But concerns remain given that exports in the first half have been weaker than anticipated, adding to doubts that the economy can expand 5 per cent as projected. Moreover, the government has requested an additional RM12 billion (S$4.7 billion) supplementary budget.
The sharp rise in government contingent liabilities was highlighted by Fitch, which noted that state debt guarantees stood at 15.2 per cent of GDP as at end-2012 from 9 per cent as at end-2008 because of the participation of state- owned enterprises in government-led investment programmes. These include the mass rapid transit line, the Tun Razak Exchange and a proposed Kuala Lumpur-Singapore high speed train.
The amount of loans and bonds guaranteed by the government has jumped to RM143 billion as at 2012 from RM55.7 billion in 2005.
Other risk factors for Fitch were further erosion of the current account surplus as well as interest rate shocks impairing household debt servicing ability.
On subsidies, Fitch said that the segment now accounts for 18 per cent of revenue from less than 8 per cent in 2004.
Its expansion is not surprising given how inefficient the broad-based subsidies are. A case in point: a diesel shortage at petrol stations has been reported ahead of the Raya holidays, but only affects subsidised diesel (RM1.80 per litre) and not normal priced diesel (RM2.80).
http://www.businesstimes.com.sg/pre...t-hits-lows-may-see-further-pressure-20130801
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Anywhere in the east with good rates for ringgit TT?
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Anyone knows what is the CIMB online remittance rate today?
Thanks.
Thanks.
My goodness.. what is gonna happen to Malaysia?
Its currently propably similar to the fx rate during the asian financial crisis. And there doesnt seem to be a crisis now even. So the situation is probably even worse then before.
Its gonna be very difficult to survive in Malaysia based on salary income alone.
More and more ppl will be driven to work in Singapore. Thats the only way to get a leapfrog jump in income.
Its currently propably similar to the fx rate during the asian financial crisis. And there doesnt seem to be a crisis now even. So the situation is probably even worse then before.
Its gonna be very difficult to survive in Malaysia based on salary income alone.
More and more ppl will be driven to work in Singapore. Thats the only way to get a leapfrog jump in income.
Ok. Understand now. One can never get such a cheap service charge of 10cts with Spore banks!
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Arcade today 2.522 lunch time. The problem is that keep asking for cash.
20K cash carry on hand. Aaaa.... I have never done it yet.
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No lah, Spore banks don't even charge a cent for inter bank transfer. Actually, I appreciate Spore banks alot more nowadays, everything free like ATM card (Rm8 for Msia banks), bank transfer, credit card etc
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changed 1 atm card only use it for few mths (RM18), just bcoz the bank renewed the chip, so cannot use. 10+ kopi gone.. heart pain pain.
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