Fixed Deposit Rates In Malaysia V. No.11, Strictly for FD Discussion Only
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 Dec 26 2015, 05:42 PM
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#1
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Senior Member
2,361 posts Joined: Feb 2008 
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All sifu here,
I gt noob questions to ask. If Malaysia bankrupt, all our fd money will wipe out in our bank. Scenario : If i put FD in foreign bank such as OCBC, if Malaysia bankrupt, can I go to singapore to wirhdraw money in OCBC singapore? |
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Dec 27 2015, 04:52 PM
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#2
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Senior Member
2,361 posts Joined: Feb 2008
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QUOTE(Ramjade @ Dec 26 2015, 07:21 PM) Malaysia won't bankrupt but your money become Zimbawe money. (worthless) Convert to USD still need to through bank right? eg: Public bank Foreign FD? No. You cannot withdraw from OCBC Singapore. I will give you a quote from unker dreamer (not his exact words but more or less the same meaning) . "Do not put all your money in Malaysia. Convert to USD at every chance. RM is not going anywhere but downwards. Buy US ETF. You already have EPF which is already 20% of your wealth. Do not put in ASX FP. Holding USD cash is better than holding RM cash"  I worry scenario like Greece... where their citizens not able to withdraw any money from their own country bank. |
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Dec 27 2015, 05:05 PM
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#3
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Senior Member
2,361 posts Joined: Feb 2008
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QUOTE(cherroy @ Dec 27 2015, 11:39 AM) Unless you exchange the money in ABC bank Malaysia and remit it to ABC bank in Sg., then different story. 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  |
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Dec 27 2015, 09:23 PM
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#4
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Senior Member
2,361 posts Joined: Feb 2008
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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 |
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Jan 19 2016, 10:28 AM
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#5
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Senior Member
2,361 posts Joined: Feb 2008
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QUOTE(Ah SiAnG @ Jan 18 2016, 09:19 PM) if you guys want to talk about EPF or ASX please go to the dedicated thread. Strongly agreed.stop spamming here FD only pls =) |
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