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 Wise (Transferwise) Malaysia Discussion, v1.0

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hksgmy
post Jul 18 2024, 11:27 AM

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Did any of you receive a notification from Wise about higher limits now available for use/keeping in the account?


Garysydney
post Jul 18 2024, 11:52 AM

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QUOTE(hksgmy @ Jul 18 2024, 11:27 AM)
Did any of you receive a notification from Wise about higher limits now available for use/keeping in the account?
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Haven't received anything from Wise so far. smile.gif
cweng93
post Jul 21 2024, 03:02 PM

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is sunway money > wise and instarem in term of rate?

Medufsaid
post Jul 21 2024, 03:07 PM

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cweng93
QUOTE(Medufsaid @ Feb 5 2024, 02:11 PM)
rates changes daily but duitnow is good for small amounts, MoneyMatch good during day time, BigPay good during night time (would recommend to just remit during day time for quick turnaround)
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QUOTE(Medufsaid @ Jan 5 2024, 04:19 PM)
MYRSGD comparison post as of today afternoon

RM 3.494792 market mid-rate as verified by Wise

S$850 (closest approximiation of RM3k DuitNow Int transfer, since not allowed to key in MYR for DuitNow Int Transfer, only SGD amount)
S$8562 (simulate RM30k)

S$850 S$8562
DuitNow RM2979.32 RM30010.52 (for comparison only, since can only remit RM3k daily)
MoneyMatch RM2978.22 + RM5 RM29999.43 + RM5
sunway money RM2987.23 + RM8 RM30077.13 + RM8
wise RM2991.41 RM30135.65
bigpay RM2995.79 RM30135.54
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QUOTE(Medufsaid @ Jan 8 2024, 09:30 PM)
finally got time to do non-office hours comparison

RM3.4955 market mid-rate as verified by Wise

S$850 S$8562
DuitNow 2982.46 30042.11
MoneyMatch 2992.40 + 5 30142.28 + 5
sunway money 2993.45 + 8 30140.09 + 8
wise 2991.81 30140.80
bigpay 2988.15 + 4.5 30099.39 + 4.5
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cute_boboi
post Jul 26 2024, 03:37 PM

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Just to share for today's rate, for each MYR10k to SGD, I saved SGD8.30 using Money Match during working hours as compared to Wise, as advised by members here.

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biertrinker
post Aug 1 2024, 03:56 AM

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Anyone knows if Wise has cross border fee?
moonsatelite
post Aug 1 2024, 09:30 AM

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QUOTE(biertrinker @ Aug 1 2024, 03:56 AM)
Anyone knows if Wise has cross border fee?
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short answer, no
ttmm2016
post Aug 1 2024, 03:10 PM

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How do you use wise except of transferring to people? I have got some money in there but no idea how to spend
gashout
post Aug 1 2024, 04:10 PM

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QUOTE(ttmm2016 @ Aug 1 2024, 03:10 PM)
How do you use wise except of transferring to people? I have got some money in there but no idea how to spend
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It's like your visa debit card. Just spend it anywhere


nanan75
post Aug 1 2024, 04:36 PM

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QUOTE(ttmm2016 @ Aug 1 2024, 03:10 PM)
How do you use wise except of transferring to people? I have got some money in there but no idea how to spend
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Online purchases via debit card.
ttmm2016
post Aug 1 2024, 11:32 PM

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QUOTE(gashout @ Aug 1 2024, 04:10 PM)
It's like your visa debit card. Just spend it anywhere
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If my friends staying in USA is transferring money to me, they should withdraw their cash into my bank account directly or send to my wise?
gashout
post Aug 2 2024, 03:59 AM

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QUOTE(ttmm2016 @ Aug 1 2024, 11:32 PM)
If my friends staying in USA is transferring money to me, they should withdraw their cash into my bank account directly or send to my wise?
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If you've wise. They've wise. They can send money to your wise account

They cannot send to your bank acc. Bank acc to wise Or wise to bank acc need to be same account name.
tropik
post Aug 2 2024, 04:24 PM

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QUOTE(gashout @ Aug 2 2024, 03:59 AM)
If you've wise. They've wise. They can send money to your wise account

They cannot send to your bank acc. Bank acc to wise Or wise to bank acc need to be same account name.
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Is this understanding correct?

I thought they promote you can get paid in foreign currency even if you are working remotely for a foreign company?

Else how a foreign company (not your name definitely) can transfer to your Wise account? Or need to apply separately?
gashout
post Aug 2 2024, 04:25 PM

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QUOTE(tropik @ Aug 2 2024, 04:24 PM)
Is this understanding correct?

I thought they promote you can get paid in foreign currency even if you are working remotely for a foreign company?

Else how a foreign company (not your name definitely) can transfer to your Wise account? Or need to apply separately?
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yes, they can transfer to your wise account. but they cannot transfer to your bank account.

you need to transfer money from wise to your own bank account.
Medufsaid
post Aug 2 2024, 04:30 PM

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QUOTE(tropik @ Aug 2 2024, 04:24 PM)
I thought they promote you can get paid in foreign currency even if you are working remotely for a foreign company?

Else how a foreign company (not your name definitely) can transfer to your Wise account? Or need to apply separately?
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you'll get a USD bank account details (temporarily not available for new customers) for your foreign company to deposit to you
QUOTE
» Click to show Spoiler - click again to hide... «
https://wise.com/help/articles/2827506/how-...account-details

This post has been edited by Medufsaid: Aug 2 2024, 04:30 PM
mhyug
post Aug 6 2024, 12:20 AM

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Just noticed that wise (bastards mad.gif ) are now charging dynamic fees for "lesser known currencies". Used to be single digit few rm fees now dah double digit rm for the fees.

So much for being transparent and lowest bla bla. So for those changing in to these lesser currencies take note.

This post has been edited by mhyug: Aug 6 2024, 12:20 AM
bloodcat
post Aug 6 2024, 12:28 AM

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I wondered if this dynamic charges will go away?
mhyug
post Aug 6 2024, 12:32 AM

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QUOTE(bloodcat @ Aug 6 2024, 12:28 AM)
I wondered if this dynamic charges will go away?
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taking a que from what happens in our own country probably no haha. "sekali sudah naik harga mana mau turun balik", and "sekali sudah charge lebih they will cont to do so...untung maa" bye.gif
nexona88
post Aug 6 2024, 09:11 AM

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QUOTE(mhyug @ Aug 6 2024, 12:20 AM)
Just noticed that wise (bastards  mad.gif ) are now charging dynamic fees for "lesser known currencies". Used to be single digit few rm fees now dah double digit rm for the fees.

So much for being transparent and lowest bla bla. So for those changing in to these lesser currencies take note.
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Which "lesser known currencies" is that??

Mind sharing 🙏
mhyug
post Aug 6 2024, 03:12 PM

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QUOTE(nexona88 @ Aug 6 2024, 09:11 AM)
Which "lesser known currencies" is that??

Mind sharing 🙏
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In my case its JPY. i did try the aud, rmb and some others but didnt indicate there is a dynamic charge for those. Im not sure why yen is categorized as lesser currency tho. (Maybe because i've been exchanging it often kot and thats the bulk of my money in my acc)

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