You can't read or what? 🤦‍♀️ 🤦‍♀️🤦‍♀️

Both method utilise wise to convert. 🤦‍♀️🤦‍♀️🤦‍♀️

Both method will have very little fx spread by wise🤦‍♀️🤦‍♀️🤦‍♀️

He was just asking which one of the two options is better. 🤦‍♀️🤦‍♀️🤦‍♀️

Where got bank decide the FX spread. Go read it again. 🤦‍♀️🤦‍♀️🤦‍♀️

Read properly on the 2nd method 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

As it will be transferred directly without conversion hence the banks can decided the FX Rate 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

And the 1st method he can control because he can convert when RM is depreciating hence higher RM value 🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️🤦‍♀️

This post has been edited by xander2k8: Feb 18 2023, 04:58 PM

10. IKEA Cheras parking, also able to claim free parking from cashier terminal (not sure about self checkout)
sometimes at the parking terminal need to tap 2 times then only it will work, no idea why.

Outdoor terminal sometimes got issue with the sensitivity of the chip sensor due to the elements which is why sometimes have tap twice or hold longer tap

Also might be delay due to connectivity of the terminal itself as it might be the terminal connection as well

Lol dun bother him la.

He mmg bodo or what punya. Can ignore what he writes

Technically, it'll be the same FX rate since Wise transfer is integrated into some foreign banks, but the first could cost more since Wise imposes fee on MYR withdrawal.

You are right, most of the time needs to tap 2 times! First time like check and authorized, 2nd time only deduct the amount.

It will be the same if the transfer is done at the same time

What happens if he stores longer than that in wise and decide to convert it months later 🤦‍♀️

Thanks for all the reply, I am not sure if i understand correctly, method 1 seems cost more after consider 1.75% withdraw fee, unless you spend MYR using wise card without withdraw. About the control the rate, both method as long as hit the target exchange rate then i will convert/transfer it.

Please correct me if I am wrong.

This post has been edited by datolee32: Feb 19 2023, 02:22 AM


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I used the first method, only fees is RM 1.06 extra to transfer to local bank.
The 1.75% only applicable if you withdraw from ATM.

@#chihuahua, @Mr Gray are correct. Transferring from Wise account to a bank typically has a small fee, so method 1 (from Wise MYR account to an MYR bank) will cost just a bit more.
Based on my personal experience with converting Euro.

What I tend to do is, when forex is optimal.

1. Transfer from foreign account to Wise EU account (EU transfers are free, though transferring out from Wise EU to an EU bank has a small fee)
2. Then Wise EU account --> local bank in Malaysia (Wise fees and the forex are clearly displayed, the displayed MYR is exactly how much you will receive in your account). There is no fee imposed by bank in Malaysia.

Edit: ask for referral to sign up, you'll get first transfer free (no Wise fee, ie. they will convert full amount).

This post has been edited by jonoave: Feb 19 2023, 07:18 AM

Then I should keep it in my Wise EU wallet, I have been using method 2 for quite some time, a lesson learned! Thanks for all the information, it is really helpful.

Your method one is just delaying the fees incurred when finally moving your money to the Malaysian bank account. Wise makes money from forex and from transfers. One way you can save money is to just spend the MYR in your Wise wallet, to avoid the transfer fee.

Bear in mind that u can't store more than RM 20k in Wise regardless of the currencies, so u should probably only transfer to ur Wise EU account the moment when u decide to convert to MYR instead of making the transfer straight off.


Though 2 here is essentially the same with ur foreign bank's Wise transfer (EUR to MYR), unless ur foreign bank charges for the Wise transfer service.

I have just calculated, for 1000 usd, send straight from usd wallet to bank account is the same value as converting it to MYR wallet first and then transfer to bank

Yes, tested this already. Good to keep around 4500 USD in wallet to take advantage of the exchange rate when MYR becomes cheaper

There are two fees from Wise, one is to exchange currency, and another is to move your money. Whether doing it both at once or separately doesn't change the fee being charged.

yes, depending on the method of transfer there is charges. Manual bank transfer is free (ie. like IBG in Malaysia) is free, but with credit card/Google Pay or other payment gateways there is a small fee.

And obviously manual bank transfer is the slowest. Few years ago when I started it took about half a day, then it was 1-2 hours. Now it's almost instantaneous.
But anyway i always have some Euro in my Wise EU account to convert money immediately.

Thanks for the information. Before that I used method 2, once it triggered my target exchange rate, I will lock in the rate and my money should be deposited to Wise before 10.59am (European time), if i notice the rate in the morning is much higher than yesterday, I will cancel the previous transaction order and lock in the new one. A bit troublesome but it helps to capture higher rate and better feeling only.

This post has been edited by datolee32: Feb 19 2023, 06:08 PM

Still in dilemma using my sutera card in Bangkok that nets 8x points vs using wise all the way as those points I can use for my enrich points conversion. What do u guys think is well worth it?