you have to read his reply again

Fees for Wise Visa Prepaid Card:
https://wise.com/my/multi-currency-account/...account-pricing
So, is it true that most Wise users here have no issue paying RM 13.70, to get Wise Visa Prepaid Card?

some local banks already charge RM 10-20 per year for debit card...

13.7 is cheap

i don't see any annual fee. seems like only application fee.

Is wise better or merchantrade ? Both seems able to hold multi currency also.

Hey. Wondering if wise business account is available right now in Malaysia? If yes, will I be getting business card (debit)

big pay better than paypal ?

hmm
i c

Fast2 transfer while u can before 1st April.

Will have SST of 6%.

after this CIMB MY direct transfer to SG is cheaper? No more fees for transferring:

Notice via CIMB app:


Using Wise sending SGD to CIMB SG (calculator):


Tested same amount using CIMB MY to SG:

yea misleading.. I tried input 1k SGD then Wise ended up cheaper... got conned by the notice haha!

cheaper than Wise sending USD to IBKR?

how is the speed like for IBKR to receive the money?

Pretty much unusable in so many shops in Malaysia.

I'd rather use MAE Card/OCBC debit card/bigpay. All zero markup, accepted everywhere I've tested so far.

Is it possible for someone in malaysia to receive money via wise from a bank account in overseas without much hassle for a big amount transfer? is there any BNM regulation that prohibit certain limit on money transfer electronically to be received in malaysia? i tried to find online but only can find someting about physical cash transaction limit of RM25k but nothing else about electronic transfer like Wise..

would you guys recommend using direct wise transfer or through its multicurrency account?

Noob question here for all sifu

1. What is the difference between opening a foreign currency account vs offshore account? E.g if I want to diverse my savings to SGD, which option is better?

2. Heard about this Wise account, anyone here using it? is it safe compare to banks in terms of security ?

Thanks in advance.

If I want to transfer money from from overseas, lets say from SG bank acc to MY bank acc directly via wise, do I need to submit any declaration or application to BNM beforehand for certain limit? Is there any limit imposed for declaration purpose?

If it is just a normal bank procedures to ask questions etc before releasing money to me, I have no problem on that as all money received are legitimate. But I am afraid of the BNM requirement and do not want to do anything that is ignorant of regulations or Act.

oh haha do you just keep all of your money in SGD now and have not revert back?
you must be smiling wide with the exchange rate today.

You do not need to worry about submit applications etc for inward remittance to Malaysia. Transfer money into Malaysia usually they won't ask question. (They would more than welcome it, especially now! ) It's moving money out of Malaysia that they will ask a bunch of questions.

By the way, based on your SG-> MY example, it's most likely Wise will deal with this AML stuffs before releasing the money to your MY bank account.

Just make sure you prepare proof of source of fund if Wise asks. Prepare bank account statements for the past 3 months, for example, if Wise wants to check transaction source/frequency etc. They will email you if they want to know about the necessary documents.

I recently had trouble with paying uni tuition fees in HK with Instarem too. They withheld the fund for a few days and required bank account statements to release the money. I rarely use Instarem, so probably the large amount alerted them, but if you transfer a few ks often between your own bank accounts, it shouldn't be an issue with Wise/Instarem.

How abt ard 20k sgd? Do u think that will trigger any alarm at bnm or malaysia side? Wise confirm will ask tonnes of ques too i suppose?

If I want to receive USD 20K from a bank to my Wise USD account possible? Already created the virtual USD account. I only need to share the account details under Outside the US right?

Means cannot use Wise to receive anything larger than RM 30K.

Looks like need to use the money runners. They charged slightly more but can receive hard cash.

I didn't want SWIFT because the bank rates were horrible.