Tigershark1976 Turbocharged May 15, 2013 Author Share May 15, 2013 On 5/15/2013 at 12:35 AM, Watwheels said: Call up both the banks on Telegraphic Transfer or TT for short. http://en.wikipedia.org/wiki/Telegraphic_transfer They will guide you on how to do the transfer. No need so troublesome to do exchange or remittance. Remittance also got to bring money to their counter and mostly foreign worker does that. Imagine your friend holding on to so much money and surrounded by FWs. TT very easy to do and safe, you dun have to bring cash here and there. Of course there's a transfer fee. not so simple, according to my friend, Mal have some regulation on the currency control, not all banks in SG do TT in ringgit... so far, only found Maybank that could TT but the rate is sucks.. ↡ Advertisement Link to post Share on other sites More sharing options...
Galantspeedz Turbocharged May 15, 2013 Share May 15, 2013 Open cimb account, apply atm card, call to activate for overseas withdrawal... then withdraw from MY... exchange rate slightly lower then sg money changer but higher than MY money changer Disclaimer: I only try in jb and bukit indah before.. Link to post Share on other sites More sharing options...
Voodooman Supersonic May 15, 2013 Share May 15, 2013 Both CIMB and Maybank can offer to fix the SGD/RM exchange rate via their Singapore branch, if you are a valued client. But these few weeks, money changers in Raffles Place are able to offer SGD/RM foreign exchange rate of around 2.44, above Bank's TT rate (around 2.40, which is close to interbank rate). For $200k, the difference is around RM8k, no small change. I have a feeling the differential will not last as arbitrage should close the gap soon, ie. cash rate should converge towards interbank rate. Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 15, 2013 Share May 15, 2013 On 5/14/2013 at 11:50 PM, Flyerking said: Why so troublesome? Remit the money over to the malaysia bank from spore. He cannot bring so much cash across custom either. Either he get robbed at custon or robbed at jb. its ok to carry but u must declare, i ever brought 250k sgd to indon before Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 15, 2013 Share May 15, 2013 On 5/15/2013 at 1:39 AM, Donut said: Maybank or CIMB. you can deposit S$ into SG Maybank account here, and you can draw out RM$ in Malaysia Maybank, from the same account. Thousands of MY workers in SG. The banking system has become advanced liao.... no more old days where u carry cash and cross borders. yes problem with this though its advance, its one of the most costly system. bank earn the most, u may easily lost ten thousand ringgit due to lower currency rate Link to post Share on other sites More sharing options...
Sabian Turbocharged May 15, 2013 Share May 15, 2013 Valued client? For CIMB? Maybank does it for mass mkt customers too. Link to post Share on other sites More sharing options...
Ngck 3rd Gear May 15, 2013 Share May 15, 2013 On 5/14/2013 at 11:53 PM, Wt_know said: use remittance ... !!! if you dare ... use money changer remittance (split to $60k/$60K/$80K on 3 days if worried) ... better rate and the other party get it immediately or the next day any remittance above $10K, remittance fees are waived they will stop the transfer after 2nd or 3 try. that is if you even get to send the first 60k over they will call you and ask you why you transferring so much money over. i try before 30k (10k / 10k / 10k) already kena liao.... Link to post Share on other sites More sharing options...
Ngck 3rd Gear May 15, 2013 Share May 15, 2013 On 5/15/2013 at 11:55 AM, Tigershark1976 said: I send this topic to my friend and his answer is similiar to yours.. In SG, so far, he could only found Maybank that able to exchange ringgit. The rest of the bank doesnt offer ringgit. Problem his, Maybank exchange rate is ridicularsly high, .... even for account holders (both Mal & SG), he is lossing around 3% per 50K transfer (max amount per transaction) when comparing the rate with those money changer. I told him to consider himself whether to take the risk or to spend the $$$... Of course, remittance agent is another option.... where he could save a bit by doing it in smaller batches with diff agent.... but still, risk is there... cash and carry 1k note and exchange at different money changer in sg and malaysia if you have the patience / balls to break the law / confidence you will not get rob if you really need to save some money. Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic May 15, 2013 Share May 15, 2013 On 5/15/2013 at 5:25 AM, Chucky2007 said: I would just carry 20 pcs of $10k SGD over to Malaysia and change... But remember to bring along the SG bank withdrawal slip and keep the fx slip if wanna open bank account in Malaysia and deposit the 500+k rm in.. yah i did that to indon, meet the best rate money changer in bank, exchange money, he transfer to my account. i get to save 6k sgd for diff rate exchange offered by bank and money changer Link to post Share on other sites More sharing options...
Tigershark1976 Turbocharged May 15, 2013 Author Share May 15, 2013 On 5/15/2013 at 4:12 PM, Ngck said: cash and carry 1k note and exchange at different money changer in sg and malaysia if you have the patience / balls to break the law / confidence you will not get rob if you really need to save some money. problem is, the biggest notes Mal using is only $100. When I brought 5K to Mal during CNY (for my in laws), the money changer only hv $50 notes and its a BIG stack of money... btw, Mal can hand carry up to USD10K, which is ard RM30K, if he dare to bring 30K to Mal for each trip, its just the matter of 7 trips to make it RM200K, problem is, he himself is worried to bring in so much money cause he is taking public transport. Link to post Share on other sites More sharing options...
Wt_know Supersonic May 16, 2013 Share May 16, 2013 (edited) say money is used to dabao 2nd and 3rd mistress lor ... On 5/15/2013 at 4:08 PM, Ngck said: they will stop the transfer after 2nd or 3 try. that is if you even get to send the first 60k over they will call you and ask you why you transferring so much money over. i try before 30k (10k / 10k / 10k) already kena liao.... Edited May 16, 2013 by Wt_know Link to post Share on other sites More sharing options...
Tianmo Hypersonic May 16, 2013 Share May 16, 2013 On 5/15/2013 at 12:00 PM, Tigershark1976 said: can, but only Maybank do that (according to my friend findings), other than that, you can TT thru remittance agents or Singpost... no lah............that is if TT RM.............and RM being control...........actually cannot be traded and TT........ I have done it before to pay my Malaysia supplier.............he can TT SGD85,000 over to the malaysia account...........when the SGD reach KL.........they will convert it back into RM at the day's conversion rate....... which is usually lower..........this can be done at any bank..........the thing here is TT SGD and not RM............but the malaysia account will receive in RM base on day's conversion......... same as if anyone TT USD to us but we don't have USD account................the money will be converted into local currency ........... this i am very sure because I have done it a few times before............ I think singpost uses western union..............and the charges is higher............his parents have to go to post office to draw out cash.............. Link to post Share on other sites More sharing options...
Goldbug 6th Gear May 16, 2013 Share May 16, 2013 open maybank joint account with my mother... she one atm card I one atm card when she in M'sia just go to the ATM... Link to post Share on other sites More sharing options...
Ngck 3rd Gear May 16, 2013 Share May 16, 2013 Do it via paypal?? Possible? Link to post Share on other sites More sharing options...
Tigershark1976 Turbocharged May 16, 2013 Author Share May 16, 2013 On 5/16/2013 at 1:53 AM, Tianmo said: no lah............that is if TT RM.............and RM being control...........actually cannot be traded and TT........ I have done it before to pay my Malaysia supplier.............he can TT SGD85,000 over to the malaysia account...........when the SGD reach KL.........they will convert it back into RM at the day's conversion rate....... which is usually lower..........this can be done at any bank..........the thing here is TT SGD and not RM............but the malaysia account will receive in RM base on day's conversion......... same as if anyone TT USD to us but we don't have USD account................the money will be converted into local currency ........... this i am very sure because I have done it a few times before............ I think singpost uses western union..............and the charges is higher............his parents have to go to post office to draw out cash.............. yup, if TT foreign currentcy, it could be done. But the exchange rate will be even worst... Link to post Share on other sites More sharing options...
Tianmo Hypersonic May 16, 2013 Share May 16, 2013 On 5/16/2013 at 11:33 AM, Tigershark1976 said: yup, if TT foreign currentcy, it could be done. But the exchange rate will be even worst... yup.............the exchange rate never good...............but safe way not cheap...................cheap way not so safe............no best of both world leh......... [laugh] Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged May 16, 2013 Share May 16, 2013 On 5/15/2013 at 3:59 PM, Thaiyotakamli said: its ok to carry but u must declare, i ever brought 250k sgd to indon before To buy Audi? Link to post Share on other sites More sharing options...
Chucky2007 Turbocharged May 16, 2013 Share May 16, 2013 On 5/15/2013 at 4:13 PM, Thaiyotakamli said: yah i did that to indon, meet the best rate money changer in bank, exchange money, he transfer to my account. i get to save 6k sgd for diff rate exchange offered by bank and money changer Bank always lousy FX rate... SGD currency best.. got $10k deno.. and even if u lose that piece of 10k deno, can report police and banks will take note of the lost note. ↡ Advertisement Link to post Share on other sites More sharing options...
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