Try to open a Ringgit balance in your existing Wise acct. A Malaysian bank acct should be assigned to you

Mine is not a business account. Possibly cannot open a Msian acct when i have already an Aust bank acct which is my default.

You already have a Wise Msian acct since you transeferred from Aussie to Myr in Wise before.

I have only one acct that Wise has set up for me. The acct is in Aust with a bsb and account number. Whenever i want to transfer money back to MYR, i will first transfer money (in Aussie) from my CBA acct to my Wise acct. I then transfer the Aussie (which is the acct that Wise has set up for me) to my Maybank acct.

What i need is an acct in Malaysia that Wise PROVIDES so that i can fpx to this Msian acct. With money in the acct that WISE has provided me, i can then transfer it to whatever account i want to.

Pls check yr Myr account in Wise again. If dont see Myr in Wise then click Open to setup whichever currency you want. Each currency will have its own account number.

Malaysia is not one of the countries where i can add another account.

You can add a Singapore account or a New Zealand account or a Canadian acct (there is a list of countries). Malaysia is not one of those countries in the list.

Seems Wise had some changes.

I've a EU Wise account, and now when I click on my MYR balance. It says "no account details available yet".

Click more and it says:
"MYR:only Malaysian residents can top up their MYR balance directly by MYR".

Doesn't bother me much since I usually do direct transfer from my Euro Wise account to my Malaysian bank account.

Which currency do you have in order to withdraw taiwan dollar? Just noticed there is no option to convert to NTD.

Need advise. Am planning to convert some RM to USD and deposit the USD in DBS Singapore account. Is it better to use Wise to convert RM to USD and deposit the USD in DBS Singapore bank OR is there a better method? Thanks
Never mind. I already converted RM to USD directly

This post has been edited by abcn1n: Nov 14 2023, 06:20 PM

I don't want to call Wise up. They might decide i am a Malaysian and close my Aussie acct and re-open it with an Msian acct as my default.

Wise at the moment is doing exactly what i want which is to allow me to transfer money from Aussie to ringgit. When i decide to go back to Sydney and live there for good then i will probably get my wife to open a Malaysian Wise acct and then transfer the funds back.

Guys, what's the use of Wise business account? I was told by Wise that we cannot receive payment to business account in Malaysia? What's the use of a business account then?

Receive and send money in foreign currency.
Keep money in foreign currency to hedge against exchange rate.

But I can't even create a foreign currency account in my business account, there is no option to do so

I have an Aust-based Wise acct and i can create accounts in quite a few different countries like EUR and UK accts.

You have a business account (i presume yours is a Malaysian-based) and you cannot create accounts in different countries?

If that is the case, it looks like Msian-based accts in Wise is pretty shitty.

I have at least 10 countries that i can choose from.

I am having same situation like u, having an Australia based Wise acc. What i did was to ask another Malaysian Wise user to send me say RM1 to my this Wise acc. Then u will see an Ringgit balance displayed in the apps. But I still cannot FPX to this Wise acc, as any deposit to Wise using MYR is only limited to a Malaysian user. So u may ask another Malaysian Wise user to FPX to his Wise acc, only then transfer the MYR to ur Australian based Wise acc. Anyhow, the transfer is free since it is between Wise users.

I have USD and MYR in the account, wise deduct my USD when I withdraw TWD from ATM.

probably is because of bnm

also wise my can only send myr to another wise my user... cannot send other currency...

if this is not what u want, protect your USD using Jar

You're right on all counts. I have a SGD and AUD account, but I have to rely on my good old Maybank MYR account if I did any transfers to Malaysia... it's a headache and a half.

You mean you cannot transfer money overseas with your ringgit?

I thought that is why we mainly use Wise for.

With my account, i can send money anywhere. I bank in my funds with my Aussie account and move funds anywhere with Wise.

Shit. I learn something new today!

I didn't realise MYR-based Wise accounts are so restrictive.