no problem..

i couldn't confirm for all m'sia banks.. but for mbb, it does seems so because when i tried to make a withdrawal from ibkr, they did asked for intermediary bank info before the withdrawal can be process

i did not proceed with the withdrawal in the end so i couldn't answer whether mbb charged any fee upon receive the fund.. was just clicking around to get familiar with the procedures and found out we actually need additional intermediary/correspondent bank info if we want to repatriate USD straight to mbb through ibkr..

so i contacted mbb as well and the following is their reply..

https://imgur.com/bJXlf6m

the information provided by mbb does tally with the selectable option from ibkr.. feel free to try, just don't proceed at the final stage if u've no plan to withdraw yet

my understanding with regards to intermediary/correspondent banks is like ibkr go-to-bank is jp morgan right.. but jp morgan US there might not be able to transfer USD directly to malaysia.. or the swift system is not able to do so directly, etc.. so an agent bank (which can link directly to m'sia banks) is needed.. in this case, it's citibank.. i could be wrong though

just sharing..

first time using this method.. transferred using bigpay to ibkr in sgd on 05/11..

amount in sgd reflected in ibkr on 06/11..

no question asked so far

guys, can share how much is the fees/charges to transfer the fund from cimb my to cimb sg?

and how about vice versa? cimg sg back to cimb my

haven't compare the two so im afraid im not qualify to comment on the comparison..

won't say bypass.. i guess it's always possible subject to verification request by ibkr, as it's a 3rd party transfer afterall.. but im not sure why my transfer this time was not subject to verification request.. probably it's only a small amount

keeping for the standard 7 years

check back page 113.. or utilize the search function

guys.. regarding the trading fees, noticed that if u buy or sell a certain security more than once in a trading session, u'll incur the trading fees as per the time u transacted instead of get charge once on the average price?

eg. if u buy AAPL for 100 shares @ 128.00 and subsequently buy another 100 shares @ 129.00 in the same trading session.. u'll get charge individually for 128.00 and 129.00.. rather than being charge once on the average price of 200 shares

the 'per trade' as they've mentioned works exactly as it meant to

regarding withdrawal, and say we're holding USD in ibkr.. can just make a direct withdrawal to, for eg. Maybank? assuming one doesn't mind about the bank's exchange rate, the USD will be auto convert to MYR, no?

so it's not a necessary right that that we'll need SG banks for withdrawal?

seems like it's fine to make a direct withdrawal from ibkr (whether in usd or sgd) straight to m'sia banks.. purely assuming one doesn't mind about the exorbitant bank's exchange rate as well as other inward remittance fees

yea.. that's my understanding as well

but i thought it's better to clarify that traditional remittance (ibkr direct to m'sia banks) still works as normal if one opt for this option

no doubt u can hold SGD for as long as u like.. or use the SGD account for whatever reasons

but for those that reside or locate in m'sia, and need to use the money, one still need to convert it back to MYR right? regardless it's from SGD or USD or EUR or HKD, etc

yes agree..

but im just saying it's 'possible' to withdraw directly.. that doesn't mean i encourage or insinuate others to do it.. just a mere clarification that it's possible if one choose to do so..

personally, i will also avoid withdraw directly to stay clear of the exorbitant fees and absurd exchange rates spread..

but despite that, withdraw directly to MYR remain as one of the option.. and i bet there are indeed people using it as a less hassle way (for which one is willing to exchange that for the higher fees + expensive rates) to repatriate money back.. so does that mean those who opted for this option is wrong? in essence, everyone is different.. there are no right or wrong for this.. it's all personal preference

just sharing (pardon me if it's known/been shared)..

with regards to deposit/withdrawal of USD, apparently there's option to move USD between TW (Transferwise) and ibkr for zero fee.. it made use of the ACH function, and act like a regular transfer between a US bank and a US company.. will first need to set it up and link ibkr with TW.. once done, then u're good to go

the downside is, as mentioned in here before, there's a 4 day holding period for deposit.. probably a worthwhile trade-off (for certain users) for the foc transfer.. withdrawal is still subject to one free withdrawal per month

just note again that this is specifically between TW and ibkr only.. probably useful for those who have USD balance in their TW USD account.. there will still be fee incurred to top-up USD balance in TW

yes u're right.. only set up in ibkr.. u'll need to provide the TW bank details into it

even deposit and withdrawal are also initiated in ibkr.. just maintain sufficient USD balance in ur TW account to do ur transactions.. eg. initiate a deposit in ibkr, it'll auto deduct from ur TW account.. obviously initiating a withdrawal in ibkr will transfer the fund to ur TW account

yea the multi-currency type.. certain users still have though

exactly.. the verification involved the two small amount credit to ur TW account and subsequently debit the total amount.. for me, once that's done then it's all good so far.. the deposit option should be shown as a saved deposit at that menu, characterized by the nickname u created.. if no, maybe try to re-set up again?

pardon me, don't really get u.. put in usd and transfer to TW?

yea it's a breeze to register for TW account.. way much easier compare to register for ibkr.. but whether u will have the multi-currency account in TW, im not sure.. some users in here have while some don't..

the sgd transfer is the way to go.. the USD way is just another option

yes they will request for TW to transfer back the total of the two small sums.. only then the link is successfully set up

for ur case, the two small sums remain in ur TW account? how good, extra cash

seriously, im not too sure why though.. have u verified the two small amount in ibkr? after they sent u the amount in TW, u'll need to key in the two amount in ibkr as a verification process

where got so good they just give money like that, make money from us got lah hehe

actually there's explanation when u're about to set up this method.. stated that ibkr will send two small amounts transaction to TW and then subsequently request back one transaction of the total two sums

after i key in the two small sums in ibkr, the total of the two sums was sent back to ibkr on the next day

https://ibb.co/BNVBv8d

don't remember my friend.. iirc, i registered during the covid19 peak.. march 2019.. and just input my info as required/necessary