Wise (Transferwise) Malaysia Discussion, v1.0
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 Jan 31 2023, 05:53 PM
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Junior Member
915 posts Joined: Nov 2014 
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QUOTE(gooroojee @ Jan 30 2023, 11:43 PM) you can use your Visa debit as long as there are sufficient funds in your Wise account across all currencies . You don't even need to convert it yourself. I mentioned Wise will auto convert to THB for you. The exchange rate after including conversion fee is typically still better than a money changer or credit card. Thank you for your reply. So I just need to deposit some MYR and let wise operate for me when I need to use THB at Bangkok   gooroojee liked this post
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Jan 31 2023, 10:04 PM
Show posts by this member only | IPv6 | Post
#1182
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Junior Member
310 posts Joined: Jul 2019
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just came back from bkk and used wise as much as I could but there are still a lot of downside that I think they can improve on
but overall its not bad if you don't have a CC with 0 foreign transaction fee if you do, its better to use the CC instead of wise |
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Jan 31 2023, 10:37 PM
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Senior Member
7,568 posts Joined: May 2012 
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QUOTE(Thebestscammer @ Jan 31 2023, 10:04 PM) just came back from bkk and used wise as much as I could but there are still a lot of downside that I think they can improve on example downside?but overall its not bad if you don't have a CC with 0 foreign transaction fee if you do, its better to use the CC instead of wise |
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Jan 31 2023, 11:33 PM
Show posts by this member only | IPv6 | Post
#1184
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Senior Member
4,665 posts Joined: Jan 2003
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QUOTE(Thebestscammer @ Jan 31 2023, 10:04 PM) just came back from bkk and used wise as much as I could but there are still a lot of downside that I think they can improve on Contactless not working well?but overall its not bad if you don't have a CC with 0 foreign transaction fee if you do, its better to use the CC instead of wise |
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Feb 1 2023, 12:01 AM
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#1185
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Junior Member
475 posts Joined: Feb 2010
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Quick question, does Wise charge incoming TT to Wise accounts, if yes; how do you minimise the charges?
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Feb 1 2023, 07:21 AM
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#1186
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Senior Member
2,192 posts Joined: Feb 2012
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QUOTE(MystiqueLife @ Feb 1 2023, 12:01 AM) Quick question, does Wise charge incoming TT to Wise accounts, if yes; how do you minimise the charges? TT from where to where? Why not use Wise app for the transfer instead? |
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Feb 1 2023, 07:25 AM
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Senior Member
3,862 posts Joined: Jun 2022
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QUOTE(Thebestscammer @ Jan 31 2023, 10:04 PM) just came back from bkk and used wise as much as I could but there are still a lot of downside that I think they can improve on BKK is what? Bangkok? How is the contactless?but overall its not bad if you don't have a CC with 0 foreign transaction fee if you do, its better to use the CC instead of wise |
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Feb 1 2023, 08:54 AM
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Junior Member
915 posts Joined: Nov 2014
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QUOTE(Thebestscammer @ Jan 31 2023, 10:04 PM) just came back from bkk and used wise as much as I could but there are still a lot of downside that I think they can improve on Can advise any 0 foreign transaction fee CC?but overall its not bad if you don't have a CC with 0 foreign transaction fee if you do, its better to use the CC instead of wise |
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Feb 1 2023, 09:09 AM
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#1189
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Probation
8 posts Joined: Dec 2022
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QUOTE(xander2k8 @ Jan 26 2023, 03:44 PM) 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 🤦♀️ hi, may i know can we open a tier 1 account at other country as foreigner? other than uk and australia, any other country also got tier 1 account? any special benefit?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% |
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Feb 1 2023, 10:41 AM
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Senior Member
7,568 posts Joined: May 2012
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QUOTE(jaslina2 @ Feb 1 2023, 09:09 AM) hi, may i know can we open a tier 1 account at other country as foreigner? other than uk and australia, any other country also got tier 1 account? any special benefit? can. but some account only accept transfer from local bank |
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Feb 1 2023, 12:21 PM
Show posts by this member only | IPv6 | Post
#1191
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Senior Member
4,665 posts Joined: Jan 2003
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QUOTE(jaslina2 @ Feb 1 2023, 09:09 AM) hi, may i know can we open a tier 1 account at other country as foreigner? other than uk and australia, any other country also got tier 1 account? any special benefit? Tier 1 is those country which is the financial hub in the world like US, UK, SG, JP and AUYou can open account in those provided you have a local permanent address and file a tax number for AMLA purposes If you don’t have both forget about it 🤦♀️ Btw no special benefits just that the ease of transfer less restricted as to BNM FX capital controls which restrict the size Before you open such accounts you better learn up about their taxation 1st before taking the plunge as you might hit with taxes without knowing it as they will even tax on your savings account |
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Feb 1 2023, 06:10 PM
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#1192
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Junior Member
475 posts Joined: Feb 2010
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QUOTE(gooroojee @ Feb 1 2023, 07:21 AM) TT from where to where? Why not use Wise app for the transfer instead? Wise account itself need to reload $ in it right? Example: SGD > Wise > MYR > Local Bank |
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Feb 1 2023, 06:31 PM
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#1193
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Senior Member
2,192 posts Joined: Feb 2012
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QUOTE(MystiqueLife @ Feb 1 2023, 06:10 PM) Wise account itself need to reload $ in it right? You can use Wise to directly transfer money from your SG bank account to your MY bank account. Straight point A to point B.Example: SGD > Wise > MYR > Local Bank |
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Feb 1 2023, 08:50 PM
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Junior Member
117 posts Joined: Jan 2019
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Hey folks, if travelling in singapore, better to use wise or bigpay card?
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Feb 1 2023, 09:14 PM
Show posts by this member only | IPv6 | Post
#1195
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Junior Member
475 posts Joined: Feb 2010
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QUOTE(gooroojee @ Feb 1 2023, 06:31 PM) You can use Wise to directly transfer money from your SG bank account to your MY bank account. Straight point A to point B. Still have TT charges right? |
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Feb 1 2023, 09:47 PM
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Senior Member
2,192 posts Joined: Feb 2012
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QUOTE(MystiqueLife @ Feb 1 2023, 09:14 PM) Still have TT charges right? The only charges incurred is displayed below, WYSIWYG...Having said that, specifically for SG to MY remittance, the cheapest method is to transfer from your own CIMB SG account to your own CIMB MY account, provided you have those accounts. Else Wise is usually close enough.  |
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Feb 1 2023, 10:56 PM
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Senior Member
926 posts Joined: Aug 2013
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QUOTE(ideaplus @ Feb 1 2023, 08:54 AM) Can advise any 0 foreign transaction fee CC? OCBC 365 Mastercard and Hong Leong I'm Card Visa |
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Feb 2 2023, 08:27 AM
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Junior Member
915 posts Joined: Nov 2014
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QUOTE(Mr Gray @ Feb 1 2023, 10:56 PM) OCBC 365 Mastercard and Hong Leong I'm Card Visa Oh, meaning spending use these 2 CC are better than using Wise MY? |
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Feb 2 2023, 08:33 AM
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Senior Member
7,568 posts Joined: May 2012
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QUOTE(ideaplus @ Feb 2 2023, 08:27 AM) Oh, meaning spending use these 2 CC are better than using Wise MY? those card no benefit. no cash back, no point, nothing |
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Feb 2 2023, 08:34 AM
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Junior Member
915 posts Joined: Nov 2014
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Wrong info
This post has been edited by ideaplus: Feb 2 2023, 08:37 AM |
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