was shared / discussed over at https://forum.lowyat.net/topic/3062820/+1140

You are required by law to state the purpose of transfer for any sum above RM5,000.50 (five thousand ringgit and fifty sen).

The 'Purpose of Transfer' declaration is a compulsory Bank Negara Malaysia requirement for all foreign fund transfers exceeding RM5,000.50 (five thousand ringgit and fifty sen). This field is displayed only if the value of your transfer exceeds RM5,000.50.

By regulation, you will require prior approval from Bank Negara Malaysia for foreign currency transfers from resident to resident (i.e. someone residing overseas without PR status) except for education purposes.

CAUTION: Electronic mail sent through the Internet is not secure and could be intercepted by a third party. For your protection, avoid sending identifying information, such as account, Social Security or card numbers to us or others. Further, do not send time-sensitive, action-oriented messages, such as transaction orders, fund transfer instructions, or check stop payments, as it is our policy not to accept such items electronically.

Dreamer,

Thanks for sharing, I guess there's all the more reason for me to diversify my investments now.

$20K in USD, from Maybank USD account

No questions asked ... just filled in purpose of transfer "Investment" and that's it

BTW I'm not Malaysian ("Foreign Worker" on the TT form) , as such maybe they ask less questions, I'm not sure.

This post has been edited by rjb123: Jul 29 2014, 07:08 PM

any opened US account recently? seems like the rule has changed and people in malaysia cant open the US account....

This is the reply i got from TDAM.

" I will be happy to assist you.

TD AMERITRADE is currently unable to open new accounts for clients with mailing and/or physical addresses in Malaysia. This is a result of a thorough legal review of established regulations in your country. We appreciate your interest in opening an account and wish you the best in your investment needs.

Thank you for contacting TD AMERITRADE and allowing us to assist you.

Sincerely,



Monica Murray
Client Services, TD Ameritrade
TD Ameritrade, Inc."

damn..
what now? alternatives?

my friend opened TDAM as non us resident...

guy3288,

Come on.. If somebody tell you that you cannot open A/C using address from Malaysia, isn't it OBVIOUS that you should open A/C using address not from Malaysia. For example, an address in USA??

Do not let education spoil your brain. LEARN to THINK creatively.

Dreamer

Dreamer,

Thanks for really dumped down sketch which my dumbness can grasp. Since I can buy Vanguard mutuals, are there any that do the same without intervention?

111

Sharing an article related to this topic, and very much in line with what Dreamer has been telling us :
http://www.marketwatch.com/story/index-fun...dist=lcountdown

oneeleven,

I do not understand what you are asking.

Dreamer

Is/are there Vanguard funds that if I buy similar amount over time, they do the same thing as your self-managed system? I'm wondering if a balanced index fund like VBIAX, VBINX, VWENX is similar but 60/40?

111

This post has been edited by oneeleven: Aug 2 2014, 12:47 AM

oneeleven,

Yes. But, you have to be US resident in order to buy those funds.

Dreamer

Noted. Looks like some us here do have access. Going via those funds would avoid accumulated fees and reduce time spent managing, so an easier route with similar result?

111

oneeleven,

Yes.

Dreamer

Got to confirm with you guys before i put fake address to play my money.

You mean i can simply put an address there eg. an address belongs to a classmate in Singapore and then i do my trading online from Malaysia? I thought they can detect where my location is from my computer here.

Would it jeopardize my money using a false address and got caught later on?

LOL!

Yes, they can detect your IP but why do they care about your IP anyway? People travel all around the world and should be able to access the trading website from anywhere to trade.

But... you should know that for whatever reason IF they need to send PAPER work via regular mail to you,
it will be sent to your "fake' address in US.

guy3288,

Why use address from Singapore?? Can you use it to open A/C?? Why not use an address from USA??

<< i do my trading online from Malaysia? I thought they can detect where my location is from my computer here.>>

Why would they want to prevent that?? TDAM's American customer could be traveling to Malaysia and do trading.

Dreamer

Just for everyone's info, Hong Leong foreign share trading only does NYSE Nasdaq and Amex.
So if you want VOO which is on ARCA, go for another broker.

Folks,

1) Please note that just because you open an A/C using US address, it does not mean you cannot change your address later to somewhere else in the world.

2) Almost statement can be sent electronically. For most of my A/C, I do not receive anything in the mail anyhow.

Dreamer