RHB has far better conversion rates usd / ringgit than HSBC.
Incoming TT depending from which country is typically about a few days to a week max.

Is there any hidden fees for RHB Multicurrency Account? Other than the RM12 debit card fee annually?

Anything about minimum balances, penalty etc?

i thought wise better???

no to both

Can you exchange currency instantly?

E.g. rm3k from MYR to USD, and then immediately back to MYR?

Is the interest rate updated daily or by the second?

If you change on the spot back and forth you lose out on the spread. Don't try to change on the spot back and forth.

It is for Smart Account purposes. Lose RM20 but gain 1.6% bonus interest (if I understand correctly)

This post has been edited by contestchris: Sep 12 2025, 11:47 AM

Immediate 24x7. Update to the second. But I noticed usd stops at a certain time. And the weekends.

Wise is fine for smaller amounts. I rather use a full fledge bank where the deposits are protected.
Only drawback is every conversion needs to be against the ringgit.
This is a very good product for personal use. There is a RM30k limit per day on buy and sell transaction.

This post has been edited by BenChiew: Sep 17 2025, 08:48 PM

How about Maybank Global Access Account-i compared to RHB multi currency account? which one has better rate?
Both are quite similar multi currency account with debit card.

I think rhb is better. Someone said something about Maybank not cheap.

RHB has very tight buy and sell range. It’s also have foreign FD where you can put your money if not used.

any way to waive the rm20 rhb mca debit card annual fee?

lol...nope. pay only

Anyone using RHB MCA to buy gold ? So far I see the spread is the lowest among all other bank

I have not really compared. It’s only pertinent if you intend to buy and sell.
If it’s for regular savings, Maybank’s Islamic gold account is good. You can buy gold in any RM amount. Young people can buy RM50 of gold every month as regular savings till they retire.

1. How do they deduct the RM20? From the MCA or from your linked CASA?

2. Can the account be closed in a year's time without any penalty?

I have done it. In at 4.212 (RM3,001.50), out at 4.184 (RM2,981.10). Lost RM19.95. Hopefully gain back at least triple.

Anyone use RHB MCA without activating debit card? Will they force you to activate?

contestchris i think it won't matter as you'll still get charged annual debit card fees

otherwise, it'll be a good loophole right? order debit card but don't activate. don't get charged and yet enjoy good forex rates