TT is supposed to be from the comfort of your chair. Why still bother to send cheque at the branch
It is just a few hours from my experience but I stated half a day as a buffer.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Remittance to Singaporean's bank account in Malaysia only RM10k max?
- Thread starter sgcount
- Start date
TT is supposed to be from the comfort of your chair. Why still bother to send cheque at the branch
It is just a few hours from my experience but I stated half a day as a buffer.TT is supposed to be from the comfort of your chair. Why still bother to send cheque at the branch
Malaysian banks are not as open and well connected as Singaporean banks. Some of them do have to go through 3rd party banks or some TT can only be done through their HQ. You may had submitted and got the printout but it actually go through at the end of the day. HSBC is notorious for this even it is Premier to another Premier account. I do not have problems with my Spore account as I use UOB Wealth from my KL account. But I do encounter delays when sending money to Taiwan which is routed through Bank of New York.
Yes, I have online banking.
For some weird reasons, their phone lines are always down in the afternoon. Will call tmr morning to check.
- Joined
- Dec 2, 2012
- Messages
- 2,510
- Points
- 48
My preferred way if amount more than RM100,000.
I have open a UOB Malaysia privilege banking account at City Sq branch in JB.
I will issue a UOB Singapore Dollar cheque to the UOB Malaysia privilege banking officer and write them a instruction letter.
After the cheque is cleared, they will call me to covert to ringgit.
No limit.
Pro:
Access account online.
Place FD online.
They issue me a debit card and ATM card. I can withdraw cash in Ringgit up to any amount I have in my account. No daily limit if I withdraw over the counter.
Con
Rate not most favourable. (at least no one will disappear with you hard earn cash)
I have open a UOB Malaysia privilege banking account at City Sq branch in JB.
I will issue a UOB Singapore Dollar cheque to the UOB Malaysia privilege banking officer and write them a instruction letter.
After the cheque is cleared, they will call me to covert to ringgit.
No limit.
Pro:
Access account online.
Place FD online.
They issue me a debit card and ATM card. I can withdraw cash in Ringgit up to any amount I have in my account. No daily limit if I withdraw over the counter.
Con
Rate not most favourable. (at least no one will disappear with you hard earn cash)
Last edited:
----------deleted------------------
Last edited:
Hi,
Anyone know the current fd rates at uob Jb? or any bank with higher rates?.
thanks
Hong Leong - 4.2% (3 mths)
Alliance - 4.35 (9 mths)
Maybank - 4.2 (12 mths)
CIMB - 4.2% (12 mths)
HSBC - 3.3%
UOB - 4.18 (10 mths)
But these are rates last month. You got to check again this month.
btw, all the above bank, can do subsequent renewal /placement online?
I think yes. But my wife is still the old school type. Cos banks give special promotion rates at certain times of the year. So we play the merry go round placements for the highest rates. In that case, we do not use internet banking. There will be a minimum placement amount to get good rates.
Thanks. I visit only JB CIQ. Most of the banks have branches there. Will check them out.
What's the maximum ringgit one can carry physically to jb without declaration?
- Joined
- Jul 29, 2013
- Messages
- 3,923
- Points
- 48
US$9999.99 or equivalent.
yup, correct
Per person.
4.5% fd uob promotion rate till end of march 2016
Thanks. Buy 4d also not this chun. Went to uob citysquare today. Closed ....to celebrate sultan's birthday:(
btw, this rate is for 12 months? (hope just for 3mths period only)
Some banks in SG are already offering FD @2.1% for 12mths - Maybank and Bank Of China.
As the exchange rate for RM is still quite volatile, one has to consider carefully before putting their $$$ in MY.
Assuming the rate in MY is around 4%
If left $20,000 in SG for 2.1% for 12 mths FD - interest = S$420
Principal + interest = S$20,420
In MY $20,000 = RM58,600 (1:2.93)
Interest @ 4% = RM2344.
If RM appreciate, rejoice!
But if RM dip to 1:3
Principal + Interest = 58,600+2344= 60,944 @ 1:3 = S$20,314!
So, take a risk, put your $$ in MY and hope for the best.
As the exchange rate for RM is still quite volatile, one has to consider carefully before putting their $$$ in MY.
Assuming the rate in MY is around 4%
If left $20,000 in SG for 2.1% for 12 mths FD - interest = S$420
Principal + interest = S$20,420
In MY $20,000 = RM58,600 (1:2.93)
Interest @ 4% = RM2344.
If RM appreciate, rejoice!
But if RM dip to 1:3
Principal + Interest = 58,600+2344= 60,944 @ 1:3 = S$20,314!
So, take a risk, put your $$ in MY and hope for the best.
Similar threads
