What's the best way/platform to convert USD to MYR?

I checked Wise online calculator, the final amount after fees deductions are lower than what bank could give me. Hence, I'm looking for another method other than Wise.

You can directly receive USDs using MCA account like Maybank/Citibank. But, to exchange into RM is a problem, which is what I am facing.

Isn't it dangerous if carry like 10k USD in physical cash?
So far the rate I am getting from bank is slightly higher than money changer but just finding if got better options.

Well, if you count the cost to go SG and back just to exchange cold hard dollars, I think there is very little difference compared to exchanging it directly on banks. (Wise fees are high if you convert >5K)

MBB charges 4 USD per transaction, regardless of transaction amount. So if sender sends you 20K USD, you receive 19996.

Right, sorry. I was confused between fintech and money changers. Unfortunately, I do not know any method to withdraw USD papers physically to be used at the money changers. In comparison, when comparing Wise rate + fees vs bank, bank is cheaper than Wise. (10K USD for example in Wise, giving 44,660.80 [9,916.91 USD x 4.50350] but from bank rate is about 44,720.00 (10000 x 4.47210).

I realised BigPay can only transfer from RM and convert into other currencies. I need a method to transfer from other currencies into RM

This post has been edited by MystiqueLife: Sep 13 2022, 03:03 AM

I tried registering account but it needs a SG number
What if I put an invalid phone number?

This post has been edited by MystiqueLife: Sep 13 2022, 03:34 AM