All so called "foreign bank" that many perceived, actually are local incorporated across.
They are no different than other so called "local bank".

Your FD in ABC foreign bank Malaysia is in RM denominated, you cannot go to ABC bank in SG or US to withdraw RM.

Whilst you also cannot withdraw Sgd, or US equivalent as the money is in RM and sitting in Malaysia incorporated ABC bank, not in Sg, US or elsewhere.

Unless you exchange the money in ABC bank Malaysia and remit it to ABC bank in Sg., then different story.

Country cannot go "bankrupt" one, only default their bond obligation, (aka if no money, and cannot paying their bond due).
Even country default their bond, bank is still there, your money is still with the banks, unless the bank bankrupt.

New FD from "fresh funds" generally requires the depositor to turn up at the bank?

Any bank that allows it to be done online?

Majority of promotion FD rate are not offered for online placement, so needs to turn up at the bank to do.

You have cimb eFD at 4.3% for 12 months.

Convert to USD still need to through bank right? eg: Public bank Foreign FD?

I worry scenario like Greece... where their citizens not able to withdraw any money from their own country bank.

Ahhh.. I get it.
is it apply to saving account as well?

Mean if I open a ABC bank malaysia , I need to open a ABC bank Singapore in Singapore?

Sorry to ask in this bank FD thread as I do not know which thread discuss about bank matters

Hi, no. Eg. You open bank abc in malaysia. But you can withdraw from their local bank xyz arm. There will be a fee charged for each withdrawal

I do not know about whether that applies to like cimb. (eg. Open cimb account in malaysia and withdraw from CIMB sg.) whether they will charge you or not.

This is a bit different.

This is like MEPS facilities, or just like your credit card can withdraw cash at overseas at an oversea bank that using the same platform of payment/settlement facilities.

Just like people have ATM of A bank, but withdraw money at B bank's ATM.
But in the process, one is not directly accessing into A bank account.

Basically, yes, but one can take advantage of various payment system like MEPS, Cirrus (just like Ramjade posted) that indirectly can withdraw small amount of money.

So no extra charges for that?

which banks have good services? im currently using pbb. so far its good.. intending to open another.. as maybank sucks... i wanna transfer from maybank out to others.. any recommendation?

hlb and alliance r they good? what abt standard chartered?

cimb n rhb i think shud be out of my radar.

What services you want? Bank all provide same services anyway unless you are talking about private banking

For fast service without the need to line up and being serve first (feels like priority customer without being one ) and if you don't intend to be a priority customer like me = affin bank (the bank is usually empty, that's why is so fast)

For best online banking = Maybank

For nice and comfortable seats + cold Aircon = Cimb

For best savings account interest = Ambank

For most no of atm = Maybank, cimb, bsn

For best FD rates = check first page

For lenglui/lengchai = ask others I never noticed and don't care about it.

Avoid hlb like a plague unless you want to go for their 4.5% FD. Service extremely slow. The other day, system down whole nationwide. They are one of one of the least efficient banks.

These are my opinions. It could defer from others.

This post has been edited by Ramjade: Dec 27 2015, 08:41 PM

Since u so like affin bank.. scare u a bit, affin bank make quarter losses.. careful your $$$ ooo.. hahaha

one more question,
If i wanted to transfer all my FD money from A bank to B Bank, i just need to buy bank draft right?

Taking out in cash definitely too dangerous in malaysia

is it a lot of money? if it's within daily transfer limit, do a fund transfer using ibg or ibft from online banking.

This post has been edited by kit2: Dec 27 2015, 09:40 PM

Apart bank draft, TT, Rentas, IBFT, IBG are other faster option.

Bank draft is too old fashion already.

If sum is Big, choose TT/Rentas via otc instead of online as the later have limit

Well, just to let you know, my money inside there are covered by pidm. Didn't exceed the limit. So who cares. if exceed pidm/no pidm, of course worried.

And affin bank is the bank of xxx. She wouldn't want anything to happened to her money would she?

I am also in the process of transferring out all my FDs.

So thank you. No worries.

This post has been edited by Ramjade: Dec 28 2015, 07:14 AM

From my own personal experience, banks which offer good services include UOB, OCBC & PBB.
Banks which provide bad services include Maybank, CIMB & Alliance Bank. Maybank is arrogant and opening account there is quite troublesome.

The worst is Alliance Bank. My sister and I went there to open a basic savings account once to take advantage of the online FD promo that was going on at that time. The counter staff had no product knowledge whatsoever and was arrogant. She said no such promo going on and FD cannot be placed online 1. She said there is no such thing as annual fee free basic savings account. She said all accounts also need to pay for the ATM card. Later another staff told her there is such an account

Anyway, we still insisted to open the savings account so we can place the FD online ourselves. They did not want to open the account for us so they make it difficult for us by giving all kinds of lame excuses. Finally, I was rejected and the reason given was because I was not working at that time. I had no problems opening basic savings account in other banks even when I was unemployed. My sister was working so they cannot use that as an excuse to reject her, so they said she needed an introducer to introduce her. What? Introducer to open a basic savings account? It's not a current account or some premier account. It's a basic savings account for crying out loud. So, we left after that and did not bother to open any account with this stupid bank.

That is from my personal experience, your experience may vary as sometimes, it may depend on the branch or staff serving you.