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> cheapest way to transfer money to singapore

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aspartame
post Jan 18 2019, 10:15 PM

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QUOTE(Krv23490 @ Jan 18 2019, 10:07 PM)
If CIMB MY to CIMB SG instant transfer. rate is 3.1048.

Via instarem is 3.04..

For me its pretty good
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Somehow, the rate by speed send is only better for PHP. Dunno why...you all are right that for SGD, CIMB speed send rate is not good..
Krv23490
post Jan 18 2019, 10:21 PM

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QUOTE(aspartame @ Jan 18 2019, 10:15 PM)
Somehow, the rate by speed send is only better for PHP. Dunno why...you all are right that for SGD, CIMB speed send rate is not good..
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For me i just see, as long as like almost similar to google's currency, it should be much better than most.. especially banks
jack2
post Mar 1 2019, 12:43 PM

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anyone wanna sell off the SGD for MYR?
ikanbilis
post Mar 4 2019, 12:04 PM

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QUOTE(jack2 @ Mar 1 2019, 12:43 PM)
anyone wanna sell off the SGD for MYR?
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I can assist if you want transfer SGD to your singapore bank account.

Been assiting many forummers here and the transfer is almost instant. blush.gif

TSrae0724
post Mar 18 2019, 02:43 PM

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QUOTE(ikanbilis @ Mar 4 2019, 12:04 PM)
I can assist if you want transfer SGD to your singapore bank account.

Been assiting many forummers here and the transfer is almost instant. blush.gif
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hello~ I guess I need your help again.
I need to transfer money to SG fren by tonight.
moneymatch need take 2 working days to do it so...
exhauster
post Apr 1 2019, 02:02 AM

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QUOTE(jack2 @ Mar 1 2019, 12:43 PM)
anyone wanna sell off the SGD for MYR?
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What is the amount you are looking for?
Do pm me if you wan privacy
lchimpanzi96 P
post Apr 12 2019, 03:20 AM

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QUOTE(Ramjade @ Aug 15 2018, 06:46 AM)
Transferwise. The only option we Malaysian can use. Other fintech requires you to be in SG before they let you open an account.
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If I were to open an Instarem account in KL ,is it better to use instarem or transferwise to transfer SGD bck to KL. Thanks.

And also I do not have any residential address in singapore.
Ramjade
post Apr 12 2019, 02:05 PM

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QUOTE(lchimpanzi96 @ Apr 12 2019, 03:20 AM)
If I were to open an Instarem account in KL ,is it better to use instarem or transferwise to transfer SGD bck to KL. Thanks.

And also I do not have any residential address in singapore.
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You cannot use instarem Malaysia to transfer SGD back to Malaysia. You need Instarem SG and you need to have SG address. No SG bank address not qualified even with SG bank account.
lchimpanzi96 P
post Apr 12 2019, 09:47 PM

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QUOTE(Ramjade @ Apr 12 2019, 02:05 PM)
You cannot use instarem Malaysia to transfer SGD back to Malaysia. You need Instarem SG and you need to have SG  address. No SG bank address not qualified even with SG bank account.
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what do u recommend best to transfer $ from SG to MY
Ramjade
post Apr 12 2019, 10:19 PM

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QUOTE(lchimpanzi96 @ Apr 12 2019, 09:47 PM)
what do u recommend best to transfer $ from SG to MY
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You have only 4 ways
Cimb SG which claims have the best rate
Transferwise
DBS remit

Exchange with friends and family (the cheapest)

The above are for those without SG address. If you have SG address, then instarem.

This post has been edited by Ramjade: Apr 12 2019, 10:22 PM
jack2
post Apr 13 2019, 11:59 AM

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QUOTE(lchimpanzi96 @ Apr 12 2019, 09:47 PM)
what do u recommend best to transfer $ from SG to MY
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Can sell SGD to me.
shinzen90
post Apr 28 2019, 04:34 PM

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Hey, just asking here.
If transfer RM200,000 to SGD, which ways the best?
Is there any law or something need to take care of?

How would you advise to keep the money in RM or SGD or any other?

This post has been edited by shinzen90: Apr 28 2019, 04:34 PM
Ramjade
post Apr 28 2019, 06:36 PM

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QUOTE(shinzen90 @ Apr 28 2019, 04:34 PM)
Hey, just asking here.
If transfer RM200,000 to SGD, which ways the best?
Is there any law or something need to take care of?

How would you advise to keep the money in RM or SGD or any other?
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Multiple transfer using instarem/moneymatch/max money as each day they can only process Rm30-50k. Way cheaper than using banks
Yah submit proof if where the money came from.

If you are keeping SGD, of course you need a SG bank accounts.

If your question is about keeping RM or SGD, question is up to you. What do you want to use that currency for? Is it for her work/study/health care related/daily living? If you meant which is the better currency, that depends again on what you want to do in the first place.

shinzen90
post Apr 28 2019, 09:32 PM

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QUOTE(Ramjade @ Apr 28 2019, 06:36 PM)
Multiple transfer using instarem/moneymatch/max money as each day they can only process Rm30-50k. Way cheaper than using banks
Yah submit proof if where the money came from.

If you are keeping SGD, of course you need a SG bank accounts.

If your question is about keeping RM or SGD,  question is up to you. What do you want to use that currency for? Is it for her work/study/health care related/daily living? If you meant which is the better currency, that depends again on what you want to do in the first place.
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Okay thank you.

What is purely saving, for FD, malaysia bank offer higher rates.
I think maybe RM inflation higher than Sgp, that why sgp offer low fd interest rate.
Am I right?
Ramjade
post Apr 28 2019, 10:27 PM

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QUOTE(shinzen90 @ Apr 28 2019, 09:32 PM)
Okay thank you.

What is purely saving, for FD, malaysia bank offer higher rates.
I think maybe RM inflation higher than Sgp, that why sgp offer low fd interest rate.
Am I right?
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Yes FD interest in Malaysian is higher but we have weaker currency. That's why developed country can afford to borrow at say 1-2% while developing countries like us need to fork out 4-7% to borrow. This is because developed countries are deem safer. Investors want more return for the risk they are putting their money in that's why they demand a higher rate from developing countries. Rates are controlled by the central banks of each country. What rates the central bank chooses will basically be what the country FD rates is. Like in Europe and Japan, their central bank policy is negative policy so if you put money in the bank, you are losing money.

Looking at rates is one thing but no point if you have high rates and currency keep dropping as overtime, your cost of living will go up as you need to fork out more of your local currency to import things from other country. Not to mentioned cost of foreign expenses will go up like overseas holiday and overseas study for kids.

Of course, if one have lousy currency but good investment, you still can win a good currency sitting in a bank. Take for eg RM vs SGD, RM is dropping 2%p.a against the SGD for 30+ years. Now if you put money into Malaysian fixed deposit, yielding 3-4%p.a your actual yield against SGD sitring in a bank account will be nett about 1-2% (FD Internet of 3-4% - depression of 2%). But if say I am able to get 3-4% return in SG, my returns vs RM will easily be 5-6% vs the RM.

Keep in mind if you want to put money into SG banks, expect returns of max 1-2%p.a. That is including their FDs.

So again the question come back to what do you want to do? Put money in the bank/FD only or other stuff. If you want access to better investment, no doubt SGD is better than RM as you can easily invest in US using SGD vs using RM. RM is not a very acceptable international currency. So if you are aiming to put money into SG banks, think again as our amanah saham fixed price fund maybe a better bet vs bank accounts/SG fixed deposit. Then RM maybe a better choice Of course if you are talking about SG stocks, then is a whole different situation.

The thing is you must know what you want to do with your RM/SGD.

This post has been edited by Ramjade: Apr 28 2019, 10:36 PM
shinzen90
post Apr 30 2019, 02:48 PM

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QUOTE(Ramjade @ Apr 28 2019, 10:27 PM)
Yes FD interest in Malaysian is higher but we have weaker currency. That's why developed country can afford to borrow at say 1-2% while developing countries like us need to fork out 4-7% to borrow. This is because developed countries are deem safer. Investors want more return for the risk they are putting their money in that's why they demand a higher rate from developing countries. Rates are controlled by the central banks of each country. What rates the central bank chooses will basically be what the country FD rates is. Like in Europe and Japan, their central bank policy is negative policy so if you put money in the bank, you are losing money.

Looking at rates is one thing but no point if you have high rates and currency keep dropping as overtime, your cost of living will go up as you need to fork out more of your local currency to import things from other country. Not to mentioned cost of foreign expenses will go up like overseas holiday and overseas study for kids.

Of course,  if one have lousy currency but good investment,  you still can win a good currency sitting in a bank. Take for eg RM vs SGD, RM is dropping 2%p.a against the SGD for 30+ years. Now if you put money into Malaysian fixed deposit, yielding 3-4%p.a your actual yield against SGD sitring in a bank account will be nett about 1-2% (FD Internet of 3-4% -  depression of 2%). But if say I am able to get 3-4% return in SG,  my returns vs RM will easily be 5-6% vs the RM.

Keep in mind if you want to put money into SG banks,  expect returns of max 1-2%p.a. That is including their FDs.

So again the question come back to what do you want to do?  Put money in the bank/FD only or other stuff. If you want access to better investment, no doubt SGD is better than RM as  you can easily invest in US using SGD vs using RM. RM is not a very acceptable international currency. So if you are aiming to put money into SG banks, think again as our amanah saham fixed price fund maybe a better bet vs bank accounts/SG fixed deposit. Then RM maybe a better choice Of course if you are talking about SG stocks, then is a whole different situation.

The thing is you must know what you want to do with your RM/SGD.
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I am so appreciating for your explanation.
Thank you so much <3


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