20k locked in the interest free current account is approx more than 5 times the cost of Rm10 monthly fee.

mbb ibg for example, rm2 per trans..20 ibg from hsbc only cost rm10 (monthly fee) whereas mbb rm20

can save already if you're a heavy ibg user. on top of that can get points from that

why u dont try Ambank Amstar Extreme which can offer 5x IBG free, only keep 5k every month

More accurately, AmBank AmStar Extreme offers 5x free (online) IBG transactions per month regardless of account balance.

However, balances below RM3,000.00 will be imposed with RM5.00 fee per month and you only earn interest (1.5%) if you keep RM5,000.00 and above.

Been a happy user as the interest rate is not too shabby for a checking current account, and you also get 5x free MEPS transactions per month. The free IBG feature is perfect for paying all my credit card bills online!

Between myself and my wife, we have 3 such accounts (ie 2 individual and 1 joint a/c) and thus enjoy 15x free (online) IBG transactions every month. So I just keep a little more than RM5,000.00 in each of the accounts and any extra funds are placed in FD.

There's an even better offering from OCBC : OCBC iQ Basic
- 5 FREE IBG per month while maintaining RM500 a month (to avoid monthly charges)

To be honest, I don't know where exactly it is to post what I'm about to ask, so if it's in the wrong section kindly inform me where I should be posting it.

Q : Is it possible to transfer funds from a Malaysian bank to an overseas account of a different bank? For instance, I want to transfer funds from local bank A to an account which is in Switzerland(MYR to Swiss Franc).

How do/can I apply to open an account in a bank available in Switzerland? Must I travel there, be physically present to open an account? Furthermore, what is the minimum amount required to open the said account?

If I successfully open an account at a bank in Switzerland, how do I transfer (regularly, let's say a monthly fixed amount) from my local bank account to the one in Switzerland?

Can I request the local bank to automatically transfer the so said 'fixed-amount' monthly to the overseas?

many thanks in advance.

For children education fund ?
Not sure my method applies to you or not, my daughter just bring my Malaysian HSBC ATM card to UK, I just bank in ringgit to my HSBC account here and she withdraw in GBP from the ATMs in UK.

For opening of oversea savings account, Malaysian HSBC premier customer can open oversea account in Malaysia.

No for education, more of a, offshore saving? (no idea if I got the term right ><")
As in, I want to save money else where(overseas) through my local bank.

my salary is automatically transfered into my local a/c, from that a/c, I intend to send/transfer a monthly-fixed sum to an a/c that belongs to a foreign(say a bank in Switzerland). I just want to save my money elsewhere(overseas) whilst having a balance here to use for expenses.

I can then withdraw the money from the overseas when the currency rate is stronger against the MYR or other currencies. In short, it's like parking my $ in another country's bank the question is, is it possible for me to request my local bank to transfer the monthly-fixed amount to the overseas one?

There is a service call "standing instruction" not sure it includes oversea remittance though.

You plan is quite weird and I don't think it is cost effective. Forex remittance a small amount monthly is costly. Whatever forex profit you may or may not gain will be offset by remittance cost. Go ask your bank how much is the cost per forex TT first including the TT reviving end. After you find out the TT cost, you might want to abort this idea.

Hi,

I would wish to transfer money from Malaysia (RM) to Korea (won) via TT. As far as I concern, services that Maybank provided is moneygram. This is very expensive. I have also tried out paypal and Western Union. I found them expensive. Can anyone suggest to me how can I transfer RM to won directly via TT?

Thanks.

I got question about interbank Giro maybank.

I understand the daily limit for Maybank ATM and M2U for interbank Giro is RM10,000 and service fee of RM2 for normal saving account.

However, the other day I went to Maybank counter doing a banker's cheque (RM5) , the staff suggested me to use IBG instead. She said if done over the counter it costs about RM2 only and I can transfer more than 10k... She also said if the IBG is done before 11am, the fund will be received by the local bank by afternoon..

Can someone confirm this?

But it's not for the short term tho, as in, if there is a time to migrate - I would at least have substantial funds at the overseas bank to utilize

As for Forex gain/loss goes, I wouldn't be converting the foreign back to solely MYR. I could utilize to to convert for other currencies.. kinda of a round the big bush thing, hoping to scrap a little profit along the way

What the MBB staff said is true:

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

Maybank just launch their MyMobile which offers FREE IBG (waive fees until further notice)

What is this MyMobile is all about? An app or what?

It's not a mobile application.
It is based on USSD Platfortm (flash sms) to present services menu.
This will be supported by all phones and does not require Internet access. Open to Maxis & Celcom users at the moment.
Maybank charges 20 sen for 4 min transaction.

Coolest is the FREE IBG to 3rd party (fees waive until further notice)

This post has been edited by ronnie: Mar 15 2012, 10:59 PM

Found the details:

http://www.maybank2u.com.my/mbb_info/m2u/p...al/ACC-Accounts

Feel like it's a little bit complicated. Anybody tried it?

Definitely will give it a try later in the month.

bros,

how do i transfer more than 5k to USA brokers at 1 shot? M2U only allow me to transfer 5k at each time.


thanks.

Fund transfers, bill payments via SMS soon

KUALA LUMPUR: Three local banks are preparing to launch a new service in May that enables users of mobile phones – not just smart phones– to carry out certain banking transactions like fund transfers and bill payments.

URL: http://www.btimes.com.my/Current_News/BTIM...icle/index_html