No one uses TW for transferring money to Indon. Use TW to send to Western country where you have no access unless you fly there and open account
Reason is TW is based in UK and they see Indon as a dirty country. So the need to check the money. They already mentioned in their FAQ indons are some country where it will take longer time.

If you want fast send to Indon, use what the illegal/legal indons here are using. Same day will reach and is super cheap. Service is available at most money changers and special shops in KV. Don't waste money on those fintech to send money to send Indon not worth your money.

Reason those remittance service and money changer can offer cheaper rates than what TW or other fintech can provide is because of the bulk of businesses they are getting.

This post has been edited by Ramjade: Jul 4 2018, 07:48 PM

Bro I am talking about those illegal indons la in Malaysia. Learn a thing or 2 from them. Why do they go those special shops/money changers? Cause the rate is cheaper than banks. They need to get as much Rp as possible per ringgit. By going to banks, the amount of Rp received is significantly a lot vs going to those shops. And being poor, getting as much Rp per ringgit is your their main concern in providing for their family back in Indon. Lots of illegal indons have Maybank and Cimb account. So they can use Malaysian banks to send money back, but why bother with special shops and money changers?

If indons want comfort job, they won't want take on jobs like construction worker.

Same concept in SG. Why do you see so many foreigners going to special shop in SG/money changer in SG? Because it's cheaper to send money via those channels than via banks. Again, we must learn a thing or 2 from those people.

This post has been edited by Ramjade: Jul 5 2018, 12:26 PM

He as a malaysian have access to those special shops which SGreans lack. So you have access why not use it? Only if you don't have access, you need to think up of ways to gain access.

Er actually I will go with depends on where he want to TT. Every tool have it's own pros and cons. Just the right tool for the right job!

Good. Told ya. If you want to give DBS free money and have less money for yourself, go ahead and use DBS. If you want to have more money for yourself then bear with it and use TW. You can't win everything.

For me very simple. I vote with my wallet. Whoever can give me cheaper rates will get my money. No brand or bank loyalty. If DBS can give me better rate, I will use them. If TW can give better rate will use TW.

This post has been edited by Ramjade: Jul 5 2018, 04:00 PM

Fintech really good in letting the masses move money cheaper. If not for them, we will be stuck with blood sucking banks.

Hopefully they are available to Malaysian soon.

As reply below. I open TW as I am receiving CB in USD. Not going to give the extra money to PayPal.

I will trust it more than I trust a bank. Bank loan your money out. They don't.
Secondly, they are gearing up towards the "international nomad community"

Keep in mind that Jack is involved with cryptocurrencies.

Actually fintech are regulated by central banks. No license cannot operate.

For me I have very good experience with TW. Told them I will be very busy for the week. I am only free for 30 minutes and I was going to sleep. They call me back in that 30 minutes to reset my password.

Never seen such efficiency. Call me from UK!!!

I have been dealing with customer service from western companies for 4 years + one thing I am sure is they are more efficient compare to Asians (Malaysia & SG)

This post has been edited by Ramjade: Jul 10 2018, 08:32 PM

Welcome to the world of fintech. At least you are open minded

Another way you can save tone of money on exchange is via interactive broker. They let you convert currency at almost spot rate (differences is negligible). The con is need to keep USD100k inside there in cash or stock and you won't get charged USD10/month.

Banks are not your best friend. Never will and will never be. In times of your need they don't help you. In good time, they try to profit from you.

Are you willing to share your profit with people like them? Not me. Sorry.

Warren buffet also another one. He have resources to live like a king but yet he stayed down to earth. Same goes with Bill D gates.

This post has been edited by Ramjade: Jul 11 2018, 04:01 PM

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.

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