can we use Transferwise that we open from Malaysia to transfer from SG account back to MY bank account?

I remembered someone saying to transfer money from SG to MY using Instarem, we need to open account with Instarem SG instead of using Instarem MY account.

AFAIK, you need Singaporean address to open Instarem SG.
Only way to bring back SGD to MYR is to use Maybank SG or CIMB SG.
CIMB rates also quite ok depending on whether there is promotion.

Of course, you should try not to bring back because you already paid a fee to bring money across.
Now you need to pay money to bring it back again.

To cut cost, only invest overseas with money you don't plan to see for >5 years.

Any of you on Go Markets?

So, post 1 - transfer EUR via instarem no longer working?

Theoretically can if you have tw borderless account. Do you have tw birderles account.

Yes can. Iu cannot use instarem sg as there's no way you can open.
Option to withdraw
1. Tw
2. CIMB
3. Direct transfer from IB but it's the most expensive way.

yes got it.. just that never try to withdraw directly from ibkr to transferwise.. worry will run into problem as transferwise beneficiary account is obviously not under my own name.. so would like to clarify if anyone engage successfully in this method

for withdrawal option no.3, what u meant by expensive is the bank's exchange rate right? since ibkr doesnt charge any withdrawal fee for once a month

Sunway Money approved my account. Just checked SGD rates (5:35pm)

Send RM30,000 receive:
Sunway Money - 9,799.00 SGD
Transferwise - 9,793.71 SGD

But send RM30,000 receive:
Sunway Money - 6,002.97 EUR
Transferwise - 6,048.72 EUR

Seems it's different for every currency.

This post has been edited by Yggdrasil: Aug 25 2020, 05:41 PM

I checked them out 1-2 yrs ago...rate not so good for usd, eur... and limited countries...

can we fund usd get back myr to Malaysia?

I also remember they got promo rm1 fee... but fx rate not so good...

This post has been edited by dwRK: Aug 25 2020, 06:53 PM

Looks like can only send MYR for now.

thanks

they mostly trying to capture sunway college / monash ppl going overseas studies and sending $ abroad...

The only international one which we have access to is TW. Wait for revolut to set up shop in Malaysia.

Can anyone figure out what's wrong with my IBKR setting?

I want to check my OCBC scrip dividend corporate action notification via the CA manager, but no matter how many times I click on the CA manager button there is no response from my browser.



Thanks.

This post has been edited by TOS: Aug 25 2020, 10:50 PM

Didn't know that. No promotion of such service from the international office. (Graduated from Sunway College 2 years ago).

Is this a new service? When did it started?

not really new but launched around 2017/2018
https://www.linkedin.com/company/sunwaymoney/about/

it's just hardly marketting done and almost no people know that

most of the marketing are posters and banners around the BRT and walkway pillars surrounding the colleges, uni and student condo... lol

that's how I found out about sunway money... haha

Really? I walked around that area very often (hostel to college and back) and I didn't see any such posters. I must be blind!

Or maybe I don't bother much about investment back then. I only ventured into finance not long ago. Never mind.

surprise u are that young, but investment should start as early as possible, great move u made

here u go... haha

This year's timing couldn't be any better. Milestone achieved today: 10% (exactly) return for my SG stocks and REITs portfolio, invested back in April/May.

No regrets meeting you guys here. It's through this thread that I opened a TSG account back then. Since then learnt tonnes of stuff on stocks fundamentals, analyzing company's financial data etc. Quite a thrill.

Edited first post about EUR transfer via InstaRem.