How about transferring money from CIMB SG back to CIMB MY? How to get the cheapest fees?

They already offer one of the best rate to send money back to Malaysia. You should not bother about money coming back to Malaysia as when you park your money overseas it is generally a one way trip until you really need the money.

If you keep bringing back the money, banks will thank you.

CIMB SG -> CIMB MY

why?

1. cheaper than midvalley rates
   https://cashchanger.co/malaysia/mc/max-mone...ey-megamall/520
   https://www.cimbclicks.com.sg/sgd-to-myr (please check during office hours only, more expensive during night time)
   
   QUOTE(Medufsaid @ Sep 10 2024, 09:31 PM)
   

   
2. if it's not the cheapest, CIMB will refund you the difference https://www.cimb.com.sg/en/personal/promoti...sfer-promo.html
   
   

Just thinking here, man.... if you earn a lot of money outside, and say, you don't have kids outside, and not much plans to travel,... and say, no plans to relocate outside of Msia,... what then do you earn the money for if you don't bring it back to use ?

Guys, I understand that CIMB SG no longer accept initial deposit from remittance service (Wise, Sunway Money, MoneyMatch etc). How about deposit from another Singapore bank account which is not under my name (friends or family)?

As far as I'm aware it must be own-name account for first e-KYC from CIMB Malaysia, as the whole purpose was to do a remote eKYC entrusting that the verification already took place on Malaysia side.

go here https://www.maybank2u.com.sg/en/personal/cr...casa/index.page open MBB sg bank acct. then transfer S$1k from MBB sg to CIMB sg. pick ar-rihla (cheapest min balance to maintain, S$200)

This post has been edited by Medufsaid: Jul 18 2025, 01:51 AM

Didn't see this.
I am going to have kids. What I am doing doing is
1. Give all the firepower for my kids as much as possible
2. Retire as early as possible

Use Cimb Malaysia to send the first SGD1k.

I didn't know Maybank sg got new account.

This post has been edited by Ramjade: Jul 18 2025, 01:47 AM

Quick comment here : A far cry from what you said earlier…😂…. And odd that you could have missed replying to a tagging, you must have taken the last few days thinking how to reply.

Relax man…

So… ok. I am right abt having funds abroad and how to use the money. You forgot to say to loved travelling too…😂

Travelling not important when I am peasant earning only RM5k/month.

I guess I will need to open 2 accounts then

I just submitted my application. Is remittance service allow for initial deposit?

I am a cheapskate, want to reduce the cost as much as possible

It's only for first time. Money can be earned back. Subsequent transfer later use money match or Sunway money.

Don't worry. I am also cheapskate

This post has been edited by Ramjade: Jul 19 2025, 07:14 AM

link your MBB sg Paynow ID to your malaysian phone number, then follow these steps to DuitNow overseas transfer S$200 from MBB malaysia

I understand Ramjade's response because I do the same. I find pleasure in compounding, not spending. I have some investments in foreign currencies and have not given a single thought about bringing them back.

You think of spending profits from your investments. That is perfectly fine because I used to think the same way too. But it is hubristic to think Ramjade was struggling to answer you. He was talking about avoiding frictional cost transferring back and forth between countries and currencies. This is sound financial lesson we learn from each other on this fine forum.

I think the initial deposit has changed to S$500 for Malaysian/foreigner.



I guess I cannot run away from using forex from bank for S$500

Fantasia below S$850 Duitnow Overseas Transfer can equal/beat Sunway money

gents,...

There is no such word as 'cheapskate' in our vocab.. We are investors, we are prudent !! It is skillful to be prudent,....

I am jiggling with him,... as always,... I think you have erroneously-estimated my behaviour with him,...

Uh-huh on the sound financial lessons.

Yes. I think prudent and frugal are also ok. But I like cheapskate. Lol

Er he is not wrong you know. I optimise my cost as best as possible. Why do you think I am not a priority banking or have minimum with banks as much possible.

And yes I don't bring my money back. Never had. Next time is figure how to use the money without it needing to come back.

[quote=Ramjade,Jul 18 2025, 01:47 AM]
Didn't see this.
I am going to have kids. What I am doing doing is
1. Give all the firepower for my kids as much as possible
2. Retire as early as possible

my dear.. Once you have kids.. u can delay retirement le..

Kids suck $$$ supersonic speed.
It start with Best Milk.. follow by best kindy. then Kiasu schools.
follow by Top Uni( top also means $$$)...