If exceed certain amount will need pin, even for other cards. I think it's RM250 in Malaysia, maybe other countries has different limits.

Your wise account is MY, SG or other countries?

Newbie here, just opened Wise last week and seek for some advice:

1. I would like to transfer USD from my Fidelity Account to Wise. Is this possible ?
I have created the USD balance sheet in Wise.
Anyone tried this before?

2. Any amount transfer limitation in USD from Fidelity Account to Wise?
If let say 10K USD? I saw this thread we cannot hold RM20,000 in Wise more that 7 days.
.
3. Any amount limitation if let say I would like to transfer and convert the USD amount to MYR from Step (2) to local bank (MAYBANK/CIMB ETC?)
will local bank call for you to verify the source of your $$ ?

Thank You

Hello,

The purpose of my question is to facilitate payment for loan in Malaysia. Currently passing on money to relatives, friends that visit australia to bring back to convert with money exchanger or exchange with them prior their visit.
Would like to find an alternative that won't trouble people much.

1. If Malaysia but working abroad having AUD bank account. Do we open a Msia Wise account or Aussie Wise account when choosing the country on sign up. Any difference?

2. Would like to know if Wise rate is better (after fee and wise exchange rate) than our local money changer?

Wise account in Malaysia limit is up to 20k hence not worth opening for it unless you planning to domicile long here and since BNM have FX controls your account would be riskier can be anytime been freeze them 🤦‍♀️

Open Wise in Tier1 regulated countries like UK and Australia

Don’t bother with money changer as they will charge you a bigger spread and you lose out at least 1.5%

You better off changing the money with your relatives to get better and fix value rather paying off another 3%

Don’t bother with usd10k the most each you can transfer 4700usd before the account ia frozen and getting it unlocked will take time

If you transfer to local banks be aware of their AMLA procedure as some banks might clear and some will ask source of funds documentations hence it is bank to bank. If it is legitimate no need to worry too much 🤦‍♀️

Sending to local banks will incurred more charges and FX Spread

You better off spreading the amount in Wise transfer rather than transferring one shot

I tried to read the FAQ from Wise and it stated they will immediate transfer any amount over 20,000 MYR to you if you set up your external account.

Account will be freeze only if you did not withdraw the excess money in 7 days of time frame.

So transferring 10k USD to Wise is not possbile at all? if i set up the external account or directly convert to MYR and transfer the money to local bank upon received 10K usd in wise ??





From Wise:
We know that from time to time, you may receive funds into your account taking your balance over 20,000 MYR:

If you've already set up your external account, we will immediately transfer any amount over 20,000 MYR to you.

If you've not set up your external account yet, you’ll have 7 days to withdraw the excess money. If you don’t withdraw it within 7 days, we’ll freeze your account so that we remain compliant.

Technically it would be transferring to wallet and it should withdraw the excess automatically to your external account

I suggest you to transfer in batches because to test out the functionality and also to break into chunks of USD and RM to see whether it will be limited to 20k because iinm the wallet for RM and USD doesn’t work well with it as before some had bad experience in waiting for the excess to be repatriated to your external account

You should test it out in smaller chunks before proceeding bigger amounts 🤦‍♀️

Hmm...today can't topup via App...says something about can't submit form.

FPX issue?

Seems like FPX is downtime now 🤦‍♀️

Since yesterday, bro

Aiks!!! Can do manual transfer? I have transferred RM100 from Maybank. App says need 30 minutes to be updated. So now I I wait.

Updated: Duit sudah masuk. Less than 30 min.

This post has been edited by CommodoreAmiga: Jan 27 2023, 11:24 AM

i transferred USD from paypal to wise. it convert to MY
no problem on convert usd to my & transfer to local bank. but dont transfer big amount. else will trigger alert.
so far i transfer 3k out each time

I am wondering whether to set up WISE to transfer RM to SG$ or set up CIMB SG. WISE have better rates or CIMB MY to CIMB SG for RM to SG$ ?

Thanks

WISW has RM10k limit I think. Large amount , you have to open Bank.account. CIMB SG FD rates also good now, comparable or better than some Malaysian banks.

WISW has RM10k limit I think. Large amount , you have to open Bank.account. CIMB SG FD rates also good now, comparable or better than some Malaysian banks.

You're aware that most people who setup a cimb SG account then use Wise to send money over into that cimb SG account ?

CIMB my have lousy rates. Avoid using CIMB my to transfer money.

This post has been edited by Ramjade: Jan 28 2023, 10:07 PM

I am so frustrated with receiving Wise card as they never arrived after ordering 2 cards. I have waited for a month long for the first order and the second order also a month, yet they never arrived too. I chose the free delivery, is Wise forcing me to choose the delivering fee to really send the card to me?

must be lost deliver to other place