I just found out direct transfer from CIMB SG to CIMB MY is much cheaper than using Transferwise and is on the spot while I still waiting the transferwise for 3 days still havn't see my money bank in.

After linking FastSaver acc to my MY account get approved, Malaysian CIMB transfer rate is like this

SGD 330 >> MYR1009 (Rate 3.052 + Free of charge + On the spot)

While Transferwise is

SGD330 >> MYR1000 (Rate 3.05549 + SGD3.43 Fees)

Direct transfer between CIMB much cheaper, RM10 gone! cry.gif cry.gif

Yeah.... both the CRS and W8-BEN Forms will ask for our Tax Identification Numbers (TIN). This will be our OG Number. Or SG Number.

Yes bro.... free of fees, good forex rates and RM funds can be accessed immediately from CIMB Msia. 👍

I just found out direct transfer from CIMB SG to CIMB MY is much cheaper than using Transferwise and is on the spot while I still waiting the transferwise for 3 days still havn't see my money bank in.

After linking FastSaver acc to my MY account get approved, Malaysian CIMB transfer rate is like this

SGD 330 >> MYR1009 (Rate 3.052 + Free of charge + On the spot)

While Transferwise is

SGD330 >> MYR1000 (Rate 3.05549 + SGD3.43 Fees)

Direct transfer between CIMB much cheaper, RM10 gone! cry.gif cry.gif

Amendment:
I want to amend the above:

Transfer from SGD to MYR via CIMB is much cheaper than Transferwise as stated above, (via after you link your cimbclicks.sg with malaysia cimb account.

However from MYR to SGD, via Transferwise will be cheaper than going through CIMB MY to CIMB SG.

Yes, the rate is better but you have to pay another SGD3.43 fee to Transferwise.

Yes the rate from CIMB SG is good (SGD-> RM) but not RM->SGD

You want to know the reason why Cimb SG have good rates?
They want to lure more people to open up Cimb MY account cause in order to be eligible for the good rates you need to have Cimb account on both side of the country. Is a promo. Enjoy it while it last. Cimb SG have every right to pull the plug on that promom

Is not they cannot beat fintech. They choose not to. Cause with fintech you can only transfer limited amount of money compare to banks. So why would they want to sacrifice profit for you retailers which makes up a small percentage of their customer base vs businesses? If you lower rates for retailers, you also need to lower rates for businesses.

Yes the rate from CIMB SG is good (SGD-> RM) but not RM->SGD

You want to know the reason why Cimb SG have good rates?
They want to lure more people to open up Cimb MY account cause in order to be eligible for the good rates you need to have Cimb account on both side of the country. Is a promo. Enjoy it while it last. Cimb SG have every right to pull the plug on that promom

Is not they cannot beat fintech. They choose not to. Cause with fintech you can only transfer limited amount of money compare to banks. So why would they want to sacrifice profit for you retailers which makes up a small percentage of their customer base vs businesses? If you lower rates for retailers, you also need to lower rates for businesses.

CIMB SGD to MYR promo rate will end on 31 Dec 2019. Not sure what's the rate after the promo end.

Still closer to market rates then money changer.
Hope they keep it up.

I am a UOB singapore atm card holder, yes they do charge a little if u apply in malaysia UOB atm for withdrawal up to 15SGD per transaction.