How to cash a Malaysian cheque?

[zephure99]

I do not have a bank account in Malaysia. I will be receiving a crossed cheque in Ringgit from a Malaysian company. Can anyone advise how I can cash out this cheque as I find no point opening an account in Msia just to cash out this cheque? Thanks.

 

[po2wq]

ask dem 2 remit ze moni 2 u using a different method? ...

 

[allanlee]

I will be receiving a crossed cheque in Ringgit from a Malaysian company.

I thought the practice is to convert it SGD when sending out the cheque to singkieland? My cheques received from Mudland have always been in SGD

 

[kulgai]

just bank it into yr local bank account. The bank knows what to do. period.

 

[Cestbon]

Hope you received cheque that have branch in Singapore. If have walk in the branch in Singapore eg. Maybank they will convert to SG$ but the exchange rate will be about 3% lower.

 

[zephure99]

Any idea if I can bank it into any of the Singapore local banks where I have an account, even though the FX rate may not be good? Thanks.

 

[eErotica69]

Any idea if I can bank it into any of the Singapore local banks where I have an account, even though the FX rate may not be good? Thanks.

You can bank it in any local bank, but no advisable to do so. The FX rate is lower, admin fee is high and it takes a long time to clear.

If you cheque is less than $100, you get back almost nothing!

:o