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Exchange Rates for RM
- Thread starter crystal_tiong
- Start date
Just sharing my experience with remittance and exchange rate;
I have been remitting through Dollardex at Jurong Point to my Malaysian Bank account.
As we are non-Malaysian, the max amount that I can remit is M$9,990 daily. But you can go around by having a few accounts, ie. 4 account x4 times. If not, you can buy in one go M$9,990 x 4 or 5 and Dollardex will remit from Monday to Thursday/Friday depending when you do the remittance.
A friend who bought a properties (bangalow under phase 2) from the developer remit directly quite a large sum to UEM account which is hassles free, just ensure that all documentation all in order and the developer is trustworthy.
Remitting money to Malaysian account is better as the rate given is higher than money exchanger and also changing at Malaysian side.
Maybank account is good to do internet banking to Malaysian entities but their ATM is not that convenient as compared to CIMB.
My housing loan is with UOB because they give me good rates, no lock-in period and no personal insurance cover is needed unlike Maybank.
Try not to carry too much cash as you never knows who is watching, even the locals are wary of handling too much cash in public due to poor security.
Carrying cash over certain amount needs custom declaration due to Bank Negara's requirement and is quite lechay.
With CIMB bank, if your account is above a certain sum which is not really a lot, you can premium service such as need not queue behind most of those doing ordinary banking.
Daily withdrawal is M$1,500 x 2, ie. M$3,000 max daily. You can also top up your touch n go toll card at their ATM (only those with Touch n go sticker).
I have been remitting through Dollardex at Jurong Point to my Malaysian Bank account.
As we are non-Malaysian, the max amount that I can remit is M$9,990 daily. But you can go around by having a few accounts, ie. 4 account x4 times. If not, you can buy in one go M$9,990 x 4 or 5 and Dollardex will remit from Monday to Thursday/Friday depending when you do the remittance.
A friend who bought a properties (bangalow under phase 2) from the developer remit directly quite a large sum to UEM account which is hassles free, just ensure that all documentation all in order and the developer is trustworthy.
Remitting money to Malaysian account is better as the rate given is higher than money exchanger and also changing at Malaysian side.
Maybank account is good to do internet banking to Malaysian entities but their ATM is not that convenient as compared to CIMB.
My housing loan is with UOB because they give me good rates, no lock-in period and no personal insurance cover is needed unlike Maybank.
Try not to carry too much cash as you never knows who is watching, even the locals are wary of handling too much cash in public due to poor security.
Carrying cash over certain amount needs custom declaration due to Bank Negara's requirement and is quite lechay.
With CIMB bank, if your account is above a certain sum which is not really a lot, you can premium service such as need not queue behind most of those doing ordinary banking.
Daily withdrawal is M$1,500 x 2, ie. M$3,000 max daily. You can also top up your touch n go toll card at their ATM (only those with Touch n go sticker).
Hi kopikong99
Any admin charge for e remittance service at dollardex?
Any admin charge for e remittance service at dollardex?
S$10.00 per transaction.
Dollardex exchange rate @2.475 for remittance and 2.470 for money exchange for today.
Latest rate is 2.482.
Today rates as follow :
Acrade : 247.50
Raffles : 247.2 (cash) 247.70 (remittance)
Yishun : 247
SSC : 247.50
Acrade : 247.50
Raffles : 247.2 (cash) 247.70 (remittance)
Yishun : 247
SSC : 247.50
wow , so gd rate ....
Usually in Singapore at least, the best rate offered by money-changers is during mid-week - Wednesday. Weekends are best avoided, even though the official rate is good but due to demand, they will press down the rates...
Talking Donkey
Alfrescian (S)
heard from my msian kakis the situation not looking very bright for the msian government in this coming election.
they are now in panic mode giving away lots of freebies to its people to appease them.
as i've said earlier change small for expenses only it will only get worse after the election..
i'm only worry that one day the ringgit will end up like the indonesia rupiah.
they are now in panic mode giving away lots of freebies to its people to appease them.
as i've said earlier change small for expenses only it will only get worse after the election..
i'm only worry that one day the ringgit will end up like the indonesia rupiah.
heard from my msian kakis the situation not looking very bright for the msian government in this coming election.
they are now in panic mode giving away lots of freebies to its people to appease them.
as i've said earlier change small for expenses only it will only get worse after the election..
i'm only worry that one day the ringgit will end up like the indonesia rupiah.
Malaysians staying in Malaysia are generally more pessismistic about the situation back there.
However Malaysia is nothing like Indonesia. Malaysia's economic development have come a long way and most people enjoy reasonable standard of living. The economic inequality in Indonesia is a lot more extreme, a large proportion of their population lives hand to mouth.
The different ethnic groups have lived together long enough and they are not going to kill each other.
The unrests in Malaysia is stirred by a group mostly Anwar loyalists.
The ruling party will lose more ground and for the first time in history, we could be witnessing a coalition government. There could be short term instability but the country will sort itself out.
Last edited:
Checked yahoo finance and it has hit rm2.50
No speculations here
No speculations here
Was at Change Alley at about 1315hrs today, only one moneychanger was open and the queue was super long woh.... Think the rest of the moneychangers went for Friday prayers.
Anyway saw one guy change S$100 and got RM$ 247 (Me kaypoh stand near to counter saw everything haha..)
Anyway saw one guy change S$100 and got RM$ 247 (Me kaypoh stand near to counter saw everything haha..)
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