TVT Supercharged November 21, 2012 Share November 21, 2012 Guys Please advise: I have a Malaysia cheque valued at a few thousand RM. I have no bank a/c in Malaysia. I only have DBS bank a/c in SG. What is the best way to deposit it with min trouble and charge? ↡ Advertisement Link to post Share on other sites More sharing options...
Opel17 6th Gear November 21, 2012 Share November 21, 2012 Guys Please advise: I have a Malaysia cheque valued at a few thousand RM. I have no bank a/c in Malaysia. I only have DBS bank a/c in SG. What is the best way to deposit it with min trouble and charge? I believe the cheque was made in your name. Therefore the min trouble is to deposit into your DBS a/c, let them convert into S$. Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 21, 2012 Share November 21, 2012 Guys Please advise: I have a Malaysia cheque valued at a few thousand RM. I have no bank a/c in Malaysia. I only have DBS bank a/c in SG. What is the best way to deposit it with min trouble and charge? the fastest way i know............is to go Jb open an account.........deposit the chq.........clear in 2 days.............withdraw and close account if you want........less than a week all done......... otherwise i think can also bank in the chq here.................but will take a longer time to clear..........last i knew was one month to clear.............not sure have clearing time changed............. Link to post Share on other sites More sharing options...
Yeobh 4th Gear November 21, 2012 Share November 21, 2012 The best is not to accept, if it's not a cross cheque maybe get firend who have msia account to help out. Link to post Share on other sites More sharing options...
Yeobh 4th Gear November 21, 2012 Share November 21, 2012 DBS will have to send the cheque to the msia bank, that take time and here will be a handling charges and a not favourable exchange rate. Link to post Share on other sites More sharing options...
Watwheels Supersonic November 21, 2012 Share November 21, 2012 Guys Please advise: I have a Malaysia cheque valued at a few thousand RM. I have no bank a/c in Malaysia. I only have DBS bank a/c in SG. What is the best way to deposit it with min trouble and charge? Best is to call up the both banks. Ask DBS how to cheque in. Whatever info required. Dan call the bank of the cheque, see whether got enough funds in the account to cover the cheque given to you. Link to post Share on other sites More sharing options...
TVT Supercharged November 21, 2012 Author Share November 21, 2012 (edited) Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor Edited November 21, 2012 by TVT Link to post Share on other sites More sharing options...
Opel17 6th Gear November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor Withdraw large amount of cash in MY is usually not recommended. Heng heng, exchange rate become S$0.00 imho, your DBS a/c would be a safer choice. Yes, I would do this way for this situation. Link to post Share on other sites More sharing options...
Acemundo Supercharged November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor wa, how many hundreds of thousand is your cheque? i think ok one la....so many people go malaysia bank, you don't see them gettign rob everyday.. Link to post Share on other sites More sharing options...
Porker Turbocharged November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor How much can you lose out in exchange if its only a few thousand RM? Link to post Share on other sites More sharing options...
Vhtfhwlego Supercharged November 21, 2012 Share November 21, 2012 the fastest way i know............is to go Jb open an account.........deposit the chq.........clear in 2 days.............withdraw and close account if you want........less than a week all done......... otherwise i think can also bank in the chq here.................but will take a longer time to clear..........last i knew was one month to clear.............not sure have clearing time changed............. Cannot anyhow open jb account. Must have work permit or supporting documents lei. Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 21, 2012 Share November 21, 2012 DBS will have to send the cheque to the msia bank, that take time and here will be a handling charges and a not favourable exchange rate. last time i collected a USD cheq from an Italy customer when he came over.................took one month to clear............and yes there was also a clearing fee involve and exchange rate was based on the very day the funds were converted............not sure now tho........ Link to post Share on other sites More sharing options...
Blackyv Turbocharged November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor frankly, few thousands ringgit is not a lot... Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor exchange rate lost not much lah...........and few thousand dollars in RM ok lah............there give you rm100 notes is how many pcs only...........just fold and put inside pocket also no body know lah.............. [laugh] Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 21, 2012 Share November 21, 2012 Cannot anyhow open jb account. Must have work permit or supporting documents lei. I had a southern bank credit card many years back when they had a promotion for palm resort members............after they gave me the credit card............they offered me a savings account leh..........but i did not take up the offer........no documents needed leh...........or mayb because it was a promotion than............. Link to post Share on other sites More sharing options...
EricTeh Neutral Newbie November 21, 2012 Share November 21, 2012 if you are not a Malaysian - u cannot open an account in Malaysia if you bank in a cheque in SG - the handling charges range from $25-$50, exchange rate against your favor, if you buy and sell malaysian stock through a broker lke UOB, you can place the cheque in their trust account without any charges but also earn NO interest dont forget cheque have an expiratory date of 6months Link to post Share on other sites More sharing options...
Soya Supersonic November 21, 2012 Share November 21, 2012 Thanks... If deposit it in DBS, my main worry is I will lose out in exchange rate given by DBS.... To open a bank a/c in MY is OK, but then withdraw it later in CASH I worry if it is safe over there lor walau eh....deposit in sg u scared. deposit in MY u scared. liddat maybe gib to charity is best. Link to post Share on other sites More sharing options...
Rustyz 5th Gear November 21, 2012 Share November 21, 2012 frankly, few thousands ringgit is not a lot... Wau lau no money is too little. Haha ↡ Advertisement Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In NowRelated Discussions
Related Discussions
Sell by bidding - BEST price from 500 car dealers in 1 day
Sell by bidding - BEST price from 500 car dealers in 1 day
All the best to parents of PSLE candidates
All the best to parents of PSLE candidates
Which is the best shopping place in Batam
Which is the best shopping place in Batam
Singapore ranked most liveable city in Asia for 20th straight year: ECA
Singapore ranked most liveable city in Asia for 20th straight year: ECA
Which airline is the best?
Which airline is the best?
Best way to sell car (aka highest price)
Best way to sell car (aka highest price)
Xiaomi Mix Fold 3 - Best Foldable Right Now IMHO
Xiaomi Mix Fold 3 - Best Foldable Right Now IMHO
China Car Design is the best?
China Car Design is the best?