QUOTE(LostAndFound @ Jun 1 2020, 05:03 PM)
I think you're confused. He didn't transfer a bank. He transferred straight to IBKR!Interactive Brokers (IBKR), IBKR users, welcome!
Interactive Brokers (IBKR), IBKR users, welcome!
|
|
Jun 1 2020, 05:10 PM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,917 posts Joined: Sep 2012 |
|
|
|
|
|
|
Jun 1 2020, 05:16 PM
Show posts by this member only | IPv6 | Post
#1142
|
![]() ![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
6,261 posts Joined: Jul 2005 From: UEP Subang Jaya |
|
|
|
Jun 1 2020, 06:16 PM
Show posts by this member only | IPv6 | Post
#1143
|
![]()
Probation
2 posts Joined: May 2020 |
QUOTE(moosset @ Jun 1 2020, 01:05 AM) You opened IBKR first without going through TSG, right? If it says different entities, then you need to re-do everything, ie go through TSG website to open an account with IBKR. They will redirect you to an IBKR website. Thank you for your kind info. Perhaps my question confusing, I just get reply from tradestation support that I can fund it after my account is completely approved. Hopefully can get the account open by this week at soonest If it says different entities, it means you can't link your ibkr to TSG. You've opened a different IBKR, not the one approved by TSG. I tried last Friday, will report my findings later this week. Use transferwise. It's nice that you called the hotline to confirm .... but I just want to say that, most if not all of us here are not working in a bank. What we posted here is what we have experienced, regardless of what a website, a customer service officer or a bank officer may say. Most of the time, when it comes to very specific questions that are not written black and white on the internet, I find internet users are more reliable because they have been through the process, whereas the customer support would usually be MCC mong cha cha. Sometimes you see things like, "You're supposed to do/have A, B, C, ......" and even so, ppl went through without doing or having A, B, C. Another example, IBKR doesn't encourage us to transfer money using fintech and yet we still do it. One guy even did it with BigPay. so you can understand sometimes ppl feel tired explaining. Sometimes I said something, then someone said, not written on the website. Then I've to play the sure-win card, "I talked to ibkr and they told me so!" Anyway, if you have other questions, feel free to post them here. We'll reply based on our experience. 1) Means your documents need to be certified by a notary public, but I don't remember going through this step. 2) I don't understand your question, what pump in fund??? Must deposit to activate the acc la.... can't open it and let it have zero balance for 10 years right? The base currency doesn't matter. You can deposit in any international currencies. |
|
|
Jun 1 2020, 07:15 PM
Show posts by this member only | IPv6 | Post
#1144
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
24,335 posts Joined: Feb 2011 |
QUOTE(encikbuta @ Jun 1 2020, 10:21 AM) Thank you ramjade! Looks like with a heavy heart, I might just have to open the CIMB SG Account. No need open SG bank account. Don't waste your money. Just donate free money to banks. Of course banks will be telling you thank you but without any show of appreciation I did see moosset is experimenting on withdrawing straight from IBKR to MY bank via TransferWise. maybe i'll wait and see, haha. Anyway my money overseas is one way ticket. I won't bring money back to malaysia. |
|
|
Jun 1 2020, 09:20 PM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,144 posts Joined: Dec 2015 |
QUOTE(Ramjade @ Jun 1 2020, 07:15 PM) No need open SG bank account. Don't waste your money. Just donate free money to banks. Of course banks will be telling you thank you but without any show of appreciation Hmm... eventually if you retire you also don't bring the money back to Malaysia? ie unless you plan to retire in other countries. Anyway my money overseas is one way ticket. I won't bring money back to malaysia. On a side note, anyone knows what to do with spare cash in IB to maximize the value? Yet flexible enough to withdraw and buy shares. Currently I am all pure cash sitting in my IB account... |
|
|
Jun 1 2020, 09:25 PM
Show posts by this member only | IPv6 | Post
#1146
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
24,335 posts Joined: Feb 2011 |
QUOTE(joeblow @ Jun 1 2020, 09:20 PM) Hmm... eventually if you retire you also don't bring the money back to Malaysia? ie unless you plan to retire in other countries. Nope because if I bring back RM it will depreciate. Just use my EPF.On a side note, anyone knows what to do with spare cash in IB to maximize the value? Yet flexible enough to withdraw and buy shares. Currently I am all pure cash sitting in my IB account... Forget about using IB to get a extra money. The most you can do is buy a money market fund. For me I keep in CIMB fastsaver. |
|
|
|
|
|
Jun 1 2020, 09:27 PM
|
![]() ![]()
Junior Member
275 posts Joined: May 2020 From: Kuala Lumpur |
|
|
|
Jun 1 2020, 09:29 PM
Show posts by this member only | IPv6 | Post
#1148
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
24,335 posts Joined: Feb 2011 |
|
|
|
Jun 1 2020, 09:40 PM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,144 posts Joined: Dec 2015 |
QUOTE(Ramjade @ Jun 1 2020, 09:25 PM) Nope because if I bring back RM it will depreciate. Just use my EPF. Buying money market fund... do you have any to recommend? If got charges, then this option might not be good since I plan to use the cash to buy when there's a good opportunity. Forget about using IB to get a extra money. The most you can do is buy a money market fund. For me I keep in CIMB fastsaver. Hmm... putting in CIMB SG account means very little interest rate. I guess it really depends if your living lifestyle and retirement planning. For me I just plan to move everything back to Malaysia. |
|
|
Jun 1 2020, 10:15 PM
Show posts by this member only | IPv6 | Post
#1150
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
24,335 posts Joined: Feb 2011 |
QUOTE(joeblow @ Jun 1 2020, 09:40 PM) Buying money market fund... do you have any to recommend? If got charges, then this option might not be good since I plan to use the cash to buy when there's a good opportunity. If you want to invest overseas you have to bear the low interest rate as all develop countries follow US rate and currently US is zero. So 1% is considered high. Sad but fact. Hmm... putting in CIMB SG account means very little interest rate. I guess it really depends if your living lifestyle and retirement planning. For me I just plan to move everything back to Malaysia. No I am not sure about those MMF available on IB. |
|
|
Jun 2 2020, 01:45 AM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,917 posts Joined: Sep 2012 |
|
|
|
Jun 2 2020, 02:27 AM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,917 posts Joined: Sep 2012 |
Why you should get Transferwise?
Transferwise is a Fintech (financial technology) company that offers cheap cross-border money transfer, like InstaRem, MoneyMatch, Revolut etc. In addition to highly competitive exchange rates (at the moment, it has the best rate among these fintech companies), ITS MAIN SELLING POINT is that, it provides you with virtual bank account details - they call it the Borderless account. With Borderless accounts, you have your own bank account details for USD, GBP, EUR, AUD, PLN, SGD and NZD. You can use these account details to accept payment from third parties. For example, I can give my GBP account details to someone in the UK to pay me in GBP, or my SGD account details to someone in SG to pay me in SGD. To sign up for TW: FREE Accept payment via Borderless account: FREE » Click to show Spoiler - click again to hide... « I can assure you, TW offers very competitive rates. At the point of writing, €1,000 gives RM 4774.65. versus InstaRem, €1,000 gives 4763.94. What about banks?? Hmm, I'm not sure but .... good luck! Debit mastercard: FREE (only for those residing overseas). Perfect for when you're travelling abroad! » Click to show Spoiler - click again to hide... « This post has been edited by moosset: Jun 7 2020, 08:33 PM |
|
|
Jun 2 2020, 05:02 AM
Show posts by this member only | IPv6 | Post
#1153
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
24,335 posts Joined: Feb 2011 |
|
|
|
|
|
|
Jun 2 2020, 09:30 AM
|
![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]()
All Stars
11,954 posts Joined: May 2007 |
|
|
|
Jun 2 2020, 12:19 PM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,917 posts Joined: Sep 2012 |
|
|
|
Jun 2 2020, 03:30 PM
|
![]() ![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
2,552 posts Joined: Jan 2008 |
|
|
|
Jun 2 2020, 04:32 PM
|
![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
1,917 posts Joined: Sep 2012 |
QUOTE(zenquix @ Jun 2 2020, 03:30 PM) why not SGD? considering IBKR forex rate so good i would have transfered in SGD to TW as SGD/MYR still can get competitive rates. Because my currency was in EUR and I wasn't bringing money back to M'sia. IBKR (EUR) >>> TW (EUR) You can of course choose SGD as a transit to bring your money back. IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR) Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works! |
|
|
Jun 2 2020, 04:37 PM
|
![]() ![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
2,552 posts Joined: Jan 2008 |
QUOTE(moosset @ Jun 2 2020, 04:32 PM) Because my currency was in EUR and I wasn't bringing money back to M'sia. considering the spread, thank you for your sacrifice.IBKR (EUR) >>> TW (EUR) You can of course choose SGD as a transit to bring your money back. IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR) Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works! |
|
|
Jun 2 2020, 04:57 PM
|
![]() ![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
6,230 posts Joined: Jun 2006 |
QUOTE(moosset @ Jun 2 2020, 04:32 PM) Because my currency was in EUR and I wasn't bringing money back to M'sia. edited... got my answerIBKR (EUR) >>> TW (EUR) You can of course choose SGD as a transit to bring your money back. IBKR (EUR) >>> TW (SGD) >>> Malaysian bank (MYR) Anyway, the whole point was to check if TW can be a transit or a storage for our money from IBKR and it works! This post has been edited by dwRK: Jun 2 2020, 05:05 PM |
|
|
Jun 2 2020, 04:59 PM
|
![]() ![]() ![]() ![]() ![]() ![]() ![]()
Senior Member
6,230 posts Joined: Jun 2006 |
|
| Change to: | 0.0211sec
0.72
6 queries
GZIP Disabled
Time is now: 4th December 2025 - 12:30 PM |