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Best bank for Multi Currency Account
TSgrimmjaw00
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Jul 22 2015, 07:10 PM, updated 9y ago
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New Member
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Hi,
Could anyone suggest the best bank for multi currency account?I am currently using RHB bank, but the account only accessible at the registered branch. Meaning no online banking, need to personally go the branch for tranfers, convert to RM and so on.
If there any bank that provide online banking for MCA?
FYI, the MCA is used fro business purposes, not for FOREX or anything like that
thank you
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max_cavalera
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Jul 22 2015, 07:23 PM
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I think bnm doesnt allow that....
Forex trading is illegal in msia
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TSgrimmjaw00
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Jul 22 2015, 07:30 PM
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New Member
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as I mentioned above, not for FOREX. The fund received is not in RM.So i need account that hold other currency as RM. Ady have an account for years, so definittly not illegal. Just looking for better bank services
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shereen82
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Jul 22 2015, 10:55 PM
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Getting Started
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QUOTE(max_cavalera @ Jul 22 2015, 07:23 PM) I think bnm doesnt allow that.... Forex trading is illegal in msia why forex trading is illegal in msia? i think some of my fren are doing this.. U mean that is illegal if u trade in with huge volume?
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T231H
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Jul 22 2015, 10:57 PM
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QUOTE(shereen82 @ Jul 22 2015, 10:55 PM) why forex trading is illegal in msia? i think some of my fren are doing this.. U mean that is illegal if u trade in with huge volume? Bank Negara explains forex trading status http://www.thestar.com.my/news/nation/2012...trading-status/
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shereen82
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Jul 22 2015, 11:09 PM
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Getting Started
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QUOTE(T231H @ Jul 22 2015, 10:57 PM) if i didnt get wrong, msian are allowed to trade forex in licensed bank regardless of volume and it is forbidden for Muslim?
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T231H
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Jul 22 2015, 11:15 PM
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QUOTE(shereen82 @ Jul 22 2015, 11:09 PM) if i didnt get wrong, msian are allowed to trade forex in licensed bank regardless of volume and it is forbidden for Muslim? found an old lyn thread on this... https://forum.lowyat.net/topic/2433206/all
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shereen82
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Jul 22 2015, 11:20 PM
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Getting Started
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QUOTE(T231H @ Jul 22 2015, 11:15 PM) most of the links cant open.. as yinchet said, "Its is illegal if you buy it from non-authorize dealer. that all."
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babykon101
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Jul 23 2015, 11:21 AM
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Use HSBC, do not use CIMB. CIMB do not really have much functions outside of msia, whether you believe or not. SoS: working abroad, using CIMB multi currency accounts.
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babykon101
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Jul 23 2015, 01:55 PM
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QUOTE(10996455 @ Jul 23 2015, 12:21 PM) Ts in mal I think most likely ts want TT into mal acc only. Oh, okay. Haha. My bad then.
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ILoveLalat.net
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Jul 23 2015, 06:01 PM
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QUOTE(babykon101 @ Jul 23 2015, 11:21 AM) Use HSBC, do not use CIMB. CIMB do not really have much functions outside of msia, whether you believe or not. SoS: working abroad, using CIMB multi currency accounts. Yeah but last I heard they ask people to declare proof, verification and whatever nonsense of work before you can open with them. Not that it is really my concern but HSBC after that hidden documents scandal.
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SUSMNet
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Jul 23 2015, 09:58 PM
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alliance bank can do online
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TSgrimmjaw00
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Jul 25 2015, 02:28 PM
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New Member
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HSBC want 10mil to open acc..dont have that kind of money
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ttkhean
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Jul 31 2015, 05:44 PM
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New Member
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Try HSBC bank and Standard Chartered bank. I open HSBC bank acc with 2k deposit only.
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wil-i-am
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Jul 31 2015, 10:03 PM
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U can consider Master Foreign Currency Account (MFCA) offer by Maybank
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TSgrimmjaw00
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Aug 1 2015, 10:35 AM
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New Member
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I need the account to register under my company's name. HSBC told me that i can apply but they only entertain account with 10mil
I also need current account too
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nyunyu
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Mar 1 2018, 03:32 PM
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For MCA in terms of exchange rates to transfer foreign currency to RM account, which bank is better? I have MCA with RHB but the exchange rates seems to be lower than Maybank.
Anyone got experience with Maybank and other banks?
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CE|C93
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Mar 1 2018, 04:07 PM
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Getting Started
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QUOTE(shereen82 @ Jul 22 2015, 10:55 PM) why forex trading is illegal in msia? i think some of my fren are doing this.. U mean that is illegal if u trade in with huge volume? If you dont trade MYR pairs, BNM dont care and will give a blind eye.
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