Exchange Rates for RM

[wolverine23]

but we can go to any ATM right? Do not necessary need to use Citibank atm.... as long as there is PLUS?

There is only 1 Citibank branch in JB.

Johor Bahru
City Plaza, 21, Jalan Tebrau, 80300 Johor Bahru.
Mon-Fri: 9.30am - 4pm
1st & 3rd Saturdays: Closed
2nd, 4th & 5th Saturdays: 9.30am to 12.00pm

 

[ginfreely]

Yeah the token is the same kind, is a flat rectangle thing. Need the token to add payee for fund transfer.

Not sure any other banks have this kind of free sg-my internet transfer.

so no other banks other than CIMB give this 'sg-my' internet bank exchange service at a similar (free transfer* + good exhange rate?

and what token is that you talking about? is it the same kind used by ocbc / posb /dbs which need to be used to login to internet banking (i.e press a few buttons to get a secret number code type)?

 

[Valdez]

Woh spot now almost 2.59. Looks like heading for 2.60

 

[matix]

can HSBC atm card be used at HSBC amanah in the same way as UOB? Anyone can confirm?

 

[malpaso]

Yeah the token is the same kind, is a flat rectangle thing. Need the token to add payee for fund transfer.

Not sure any other banks have this kind of free sg-my internet transfer.

thanks! can the token be used to also manage cimbclicks malaysia portal (i.e internet banking for malaysia account).
and which type account in malaysia did you / or the banker recommend.? i did some homework, seems the CIMB Money multiplier current account give the best interest at 2.5% p.a for balance above 10k RM?

 

[IRONMAN123]

Wow, someone got 2.5471 from UOB.

 

[Lyc396]

Just tried free cash withdrawal via Maybank Msia ATM using Maybank sg account. Cash rate is 2.529 as at 9 Aug 2pm.

Hi,realised there are free oversea-Msia cash withdrawals via ATM for Maybank sg and Citibank sg account besides UOB sg account. May I know how are the rates as compared to CIMB TT? Saw from cari Chinese forum saying that UOB cash withdrawals is 2.541 in Msia yesterday If so, cash withdrawal is another good option for small sum.

 

[ginfreely]

thanks! can the token be used to also manage cimbclicks malaysia portal (i.e internet banking for malaysia account).
and which type account in malaysia did you / or the banker recommend.? i did some homework, seems the CIMB Money multiplier current account give the best interest at 2.5% p.a for balance above 10k RM?

No, the token is for Cimb Sg account only. The Cimb Msia account uses TAC verification via SMS only. My account type is savings account, without passbook but have ATM card. Need only to deposit Rm250 to open this type of account.

 

[malpaso]

No, the token is for Cimb Sg account only. The Cimb Msia account uses TAC verification via SMS only. My account type is savings account, without passbook but have ATM card. Need only to deposit Rm250 to open this type of account.

thanks for sharing ginfreely! happy national day.

 

[nusaduta]

If you use HSBC global transfer, you can transfer your funds fee free across countries up to USD200k per day.

Yeah the token is the same kind, is a flat rectangle thing. Need the token to add payee for fund transfer.

Not sure any other banks have this kind of free sg-my internet transfer.

 

[shctaw]

Latest rate after NY close is

USD/MYR - 3.2530

SGD/MYR - 2.5880



From 2.355 in May 27 till today 2.5880.

Malaysia Ringgit have lost 10% again Singapore dollar since 28 May 2013.

If you have take up a loan in Ringgit and you are a Singaporeans; your purchasing power just increase by 10% by selling SGD to pay for cheaper Ringgit.
However if your property price have remain the same; the condo have lost 10% in value if you sell it and convert back to SG dollar.

Look for a quick test of 2.55 before we break 2.60 quickly. Target 2.68-2.70 by mid September.

Those whom queue for cash Ringgit recently will wonder what the hell they are doing when it hit 2.7. (Bank Negara must intervene to bring it down; otherwise hedge fund will come join the party and make Ringgit even cheaper.)

 

[shctaw]

RSI of SGD/MYR is above 40 points since 26 May and have stay above till today. (Relative Strength Index period = 28)

 

[contrarian]

Banks that do not charge fees for withdrawing cash from their Singapore accounts using their own ATMs in Malaysia:
UOB
CIMB
Maybank
Citibank

Banks that do not charge fees for fund transfers to Malaysia, if account holders have accounts in both countries with the same bank:
CIMB
Citibank
HSBC Premier

Please add on if you know of others!

 

[shctaw]

The rate is more important than the fee.

The bank will make more if that give you a wider spread. (the make more even without fee)

I rather pay a fee and get a better exchange rate. End of the day is how much Ringgit you get for your SG dollar.

Banks that do not charge fees for withdrawing cash from their Singapore accounts using their own ATMs in Malaysia:
UOB
CIMB
Maybank
Citibank

Banks that do not charge fees for fund transfers to Malaysia, if account holders have accounts in both countries with the same bank:
CIMB
Citibank
HSBC Premier

Please add on if you know of others!

 

[contrarian]

The rate is more important than the fee.

The bank will make more if that give you a wider spread. (the make more even without fee)

I rather pay a fee and get a better exchange rate. End of the day is how much Ringgit you get for your SG dollar.

That's irrefutable. However, for:
1. price takers who cannot influence the exchange rate used, then fees and convenience become useful differentiators
2. ATM withdrawals that are limited to small amounts each transaction, fees add up

 

[Grago]

The rate is more important than the fee.

The bank will make more if that give you a wider spread. (the make more even without fee)

I rather pay a fee and get a better exchange rate. End of the day is how much Ringgit you get for your SG dollar.

Xxxxxxxxxx

 

[Grago]

Banks that do not charge fees for withdrawing cash from their Singapore accounts using their own ATMs in Malaysia:
UOB
CIMB
Maybank
Citibank

Banks that do not charge fees for fund transfers to Malaysia, if account holders have accounts in both countries with the same bank:
CIMB
Citibank
HSBC Premier
Standard Chartered

Please add on if you know of others!

Banks that do not charge fees for fund transfers to Malaysia, if account holders have accounts in both countries with the same bank:
CIMB
Citibank
HSBC Premier
Standard Chartered

 

[malpaso]

Banks that do not charge fees for fund transfers to Malaysia, if account holders have accounts in both countries with the same bank:
CIMB
Citibank
HSBC Premier
Standard Chartered

but which one gives the best exchange rate - that is the important thing.!

 

[malpaso]

Okie dokie.. latest twist (or is it) to the CIMB SG-MYR link account opening.
went down to knightbridge orchard branch this morning.
open SG account - obviously no issue.
But, for the MY account - banker was quite adamant that they (Sg CIMB) cannot advise nor open account for MY side, they only help me by giving me an application form to fill up. There is also another form called "pre-arrival account opening". In this form, there is no option for me to select the current acount (money multiplier) account, which gazetted to pay 2.5% pa on balances above 10K RM. Banker only help me to relay on the application form with IC copy etc to Malaysia side. Also, he asked which local branch of CIMB, adding he cannot advice on branch location too. I wrote "Taman Daya, JB" on the form.
Also, he insisted, after asking aruond, that I would still HAVE TO MAKE at least one trip to JB to sign off and document verification. he also said that MY ATM and check book must go to collect in JB. So basically i just let him re-route my application form and play it by ear later.

I wonder how come my experience this morning seems so different from what others here have experienced?

 

[malpaso]

Yeah can transfer to third party Cimb Msia account..took more than a week to receive the token..can transfer funds in the meantime to Cimb Sg account

banker told me 14 days for token to arrive.