If you are based in sg, just go with DBS My acocunt. It have multicurrency acocunt vs CIMB. Only downside is the rate not as great as Cimb. Otherwise multicurrency acocunt which let you send or received foreign currency without the need for conversion, no min lockup amount.

if u open CIMB bank account, it has dual linkages. u need to link the Malyasia side, once approved, and link the singapore side.

for msia side, to transfer RM into SGD. for Spore side, to transfer SGD to RM.

Never ever use cimb Malaysia to transfer RM to SGD. It's expensive. You get less SGD per ringgit by using cimb Malaysia.

This post has been edited by Ramjade: Jul 18 2023, 06:41 PM

Just RM3000 seems a bit too less, and in their website its not mentioned what is the limit as well... perhaps I'll drop them an email later on to enquire. Thanks!

The rate seems to be competitive from SG to MY but from MY to SG is quite bad. I am seeing 3.48 from CIMB Clicks MY. If transfer back from CIMB SG to CIMB MY there's no charges/commission stated here in transfer through CIMB Clicks https://www.cimb.com.sg/en/personal/promoti...sfer-promo.html

CIMB Singapore transfer to own Malaysia CIMB a/c limit is RM 100,000 per day.
MayBank Singapore transfer to Maybank Malaysia a/c limit is SGD 20,000 per day.
Transfer from MY to SG can use WISE.

Thanks so much for ur info!

Yes, thank you so much for the info! It really helps me make an informed decision.

What is the most economical way to convert RM to SGD then transfer to my SG bank account for now? Thank you

Sunway money. No one come close.

Because the 1 post above mine was comparing CIMB MY to SG , and is better to use Wise.

And if HSBC MY to Sunway Money then to HSBC SG, I think got extra processing fees charges

Only pay RM1.00 You can check yourself. I have checked myself using maybank, cimb, Hong leong, UOB, standard chartered, instarem, moneymatch, TransferWise. All cannot even match Sunway money.

I don't have HSBC bank account to check.

This post has been edited by Ramjade: Jul 18 2023, 09:05 PM

yo bro. Long time no see.

HSBC MY to Sunway Money should be via FPX, so should be free of charge (everything is done from the Sunway Money portal). The RM 1 is the explicit charge by Sunway Money (on top of their markup above FX rate). All-in cost for Sunway Money is around 38-40 basis points above mid-market rate for transfers of several thousand MYR. 10k MYR and above can fetch you 30-35 basis points FX markup sometimes.

anyone compared bigpay vs Sunway Money MYRSGD rates?

Yes. Sunway money still wins. Don't ask me why.

after going down the rabbit hole, i can only recommend that you do your own research as the rates of each remittance service updates at different times, so e.g., competitor no. 2 will be cheaper than no. 1 at your preferred time

signup for (this is my preference order)

1) wise
2) money match
3) bigpay

and this below is less competitive but u might still wanna signup

4) sunway money
5) instarem

and finally, if u happen to go Midvalley money changers, and afterwards be in singapore to deposit paper money at banks, the theoretical (doable but very impractical) best is

0) midvalley money changers

This post has been edited by Medufsaid: Jul 19 2023, 09:03 AM

I have sign up for all. Last time always did comparison. Still sunway money always win. Nowadays don't bother doing comparison cause if I do comparisons, sunway money is still the cheapest. Lol.

problem is i've just signed up for them all and your findings don't tally with mine. so let's agree to disagree. and i can provide screenshots of the quotes i get from bigpay or money match, which can easily beat sunway money

This post has been edited by Medufsaid: Jul 19 2023, 10:47 AM

Did you do during office hour? If you do during weekends and after hour then yeahmn Glad to know. That means the other competitors are getting competitive again.
Le met check for my next month transfer and will update here.
Can money match send to own account? Last I check, they block people from sending to their own account?

i manage to add my SG bank account as recipient in moneymatch. can select "self", and my name in CIMB sg & moneymatch is the same


haven't proceed any further though. but if later @ checkout can't remit out, wow will be a buggy flow

This post has been edited by Medufsaid: Jul 19 2023, 11:07 AM

You can add. What when you try send money, money is return to you. It cannot go though. Something about their license does not let them send money to oneself. Lol

Not sure if their license have been updated. This was 7 years ago history.

That's why I never used them at all already and as mentioned they have lost rates.