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 Bank acc receive foreign currency without convert

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SUSGodTier
post Jan 9 2019, 11:33 PM, updated 6y ago

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Is there any kind of malaysia bank account that receives foreign currency without converting to MYR, and able to withdraw in foreign currency without/minimum fees?

Or any oversea bank account that malaysian can have, to receive foreign currency and able to withdraw in same foreign currency without/minimum fees?


matrix88
post Jan 9 2019, 11:35 PM

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QUOTE(GodTier @ Jan 9 2019, 11:33 PM)
Is there any kind of malaysia bank account that receives foreign currency without converting to MYR, and able to withdraw in foreign currency without/minimum fees?

Or any oversea bank account that malaysian can have, to receive foreign currency and able to withdraw in same foreign currency without/minimum fees?
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foreign currency account
SUSDavid83
post Jan 9 2019, 11:35 PM

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How about muitl-currency account?
Some banks have such products right?
aspartame
post Jan 10 2019, 12:11 AM

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QUOTE(GodTier @ Jan 9 2019, 11:33 PM)
Is there any kind of malaysia bank account that receives foreign currency without converting to MYR, and able to withdraw in foreign currency without/minimum fees?

Or any oversea bank account that malaysian can have, to receive foreign currency and able to withdraw in same foreign currency without/minimum fees?
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can receive in foreign currency but cannot withdraw foreign currency in cash..only can transfer out...or convert to ringgit first before withdrawing
auxois12
post Jan 10 2019, 12:22 AM

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better use traveller cheque, I think.

SUSGodTier
post Jan 10 2019, 04:40 AM

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QUOTE(aspartame @ Jan 10 2019, 12:11 AM)
can receive in foreign currency but cannot withdraw foreign currency in cash..only can transfer out...or convert to ringgit first before withdrawing
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The normal foreign currency account offered by maybank cimb etc?

Any comparison that which bank always has the highest rate?

Can the foreign currency fund pledge into fixed deposit? How much is the interest rates?

Any fees to transfer into MYR within same bank?
Ramjade
post Jan 10 2019, 09:36 AM

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QUOTE(GodTier @ Jan 9 2019, 11:33 PM)
Is there any kind of malaysia bank account that receives foreign currency without converting to MYR, and able to withdraw in foreign currency without/minimum fees?

Or any oversea bank account that malaysian can have, to receive foreign currency and able to withdraw in same foreign currency without/minimum fees?
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Malaysia banks can only received foreign currency. You cannot withdraw out foreign currency. You want that, across the Causeway the 3 local banks offer such multi currency account with ability to withdraw in whatever currency you want at a fee.

QUOTE(GodTier @ Jan 10 2019, 04:40 AM)
The normal foreign currency account offered by maybank cimb etc?

Any comparison that which bank always has the highest rate?

Can the foreign currency fund pledge into fixed deposit? How much is the interest rates?

Any fees to transfer into MYR  within same bank?
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All banks exchange rates sucks. Forget about getting high interest rate for your foreign currency.

Interest rate range from 1%-5% depending on currency and banks.

No fees but high mark up price so your interest earned from foreign FD is more or less wipe put when you convert to RM.

My personal pick, Transferwise Borderless Account and DBS multiplier (from SG) or Interactive broker (best exchange rate but monthly USD10 fee if you have less than USD100k with them).



 

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