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Wise (Transferwise) Malaysia Discussion, v1.0
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xander2k8
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 Feb 18 2023, 06:13 AM
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QUOTE(datolee32 @ Feb 18 2023, 05:12 AM) Hi, i would like to ask which method save more transaction fee? 1. Foreign currency bank -> Store in Wise wallet -> Wise wallet exchange to MYR -> Withdraw MYR to MY Bank 2. Foreign currency bank -> Wise exchange transfer -> Transfer to MY bank Second method don't need to keep money in wallet make me feel safe. Is first method less transaction fee? Obviously the 1st π€¦ββοΈ because 2nd method will have FX spread will be more as decided Bank the receiving the money 1st method you can control the rate itself Why you so scared when Wise is regulated by BNM rules π€¦ββοΈ |
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xander2k8
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Feb 18 2023, 04:45 PM
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QUOTE(Mr Gray @ Feb 18 2023, 08:33 AM) You can't read or what? π€¦ββοΈ π€¦ββοΈπ€¦ββοΈ Both method utilise wise to convert. π€¦ββοΈπ€¦ββοΈπ€¦ββοΈ Both method will have very little fx spread by wiseπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈ He was just asking which one of the two options is better. π€¦ββοΈπ€¦ββοΈπ€¦ββοΈ Where got bank decide the FX spread. Go read it again. π€¦ββοΈπ€¦ββοΈπ€¦ββοΈ Read properly on the 2nd method π€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈ As it will be transferred directly without conversion hence the banks can decided the FX Rate π€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈ And the 1st method he can control because he can convert when RM is depreciating hence higher RM value π€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈπ€¦ββοΈ This post has been edited by xander2k8: Feb 18 2023, 04:58 PM |
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xander2k8
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Feb 18 2023, 06:13 PM
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QUOTE(PC_CHEAH @ Feb 18 2023, 05:29 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 |
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xander2k8
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Feb 18 2023, 08:28 PM
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QUOTE(#chihuahua @ Feb 18 2023, 06:50 PM) 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. 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 π€¦ββοΈ |
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xander2k8
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Feb 22 2023, 02:49 PM
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QUOTE(jhleo1 @ Feb 22 2023, 01:28 PM) Self capture π€¦ββοΈ |
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xander2k8
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Feb 27 2023, 11:17 PM
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QUOTE(prophetjul @ Feb 27 2023, 10:32 PM) Why is wise transfer taking so long? My friend transferred from his Canadian account to Malaysia account. He is Canadian. Last month took 3 days. 24 Feb transfer will only reach Msia on 1st March! Whereas my transfer from Msia to my Aus account takes 3 to 4 hours. Did he exceed the daily amount? If yes most likely BNM have with held the transfer |
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xander2k8
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Feb 28 2023, 04:25 PM
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QUOTE(prophetjul @ Feb 28 2023, 06:41 AM) Nope. His limit is only CAD1k per day. I think it's because he made multiple transfers since he is living in Msia under MM2H. I doubt so because since he didnβt exceed the limit there must be something stopping the transfer Better check with Wise where goes wrong but I suspect on Malaysia receiving end issues |
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xander2k8
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Mar 8 2023, 01:58 PM
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QUOTE(nanan75 @ Mar 8 2023, 11:54 AM) at Isetan KLCC food dept. At least try 10 different places ranging from 711 to Hotels instead π€¦ββοΈ |
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xander2k8
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Mar 8 2023, 04:17 PM
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QUOTE(touristking @ Mar 8 2023, 02:53 PM) Thanks a lot. I guess time to give RHB a visit. I have GBP account in HSBC. Can I buy GBP in RHB and transfer it to HSBC GBP account? Why buy when you pay more for FX spread π€¦ββοΈ based on RHB FX Rates QUOTE(touristking @ Mar 8 2023, 03:02 PM) I look at the rate here and it's very bad. The rates for using RHB MC debit card different rates? https://www.rhbgroup.com/treasury-rates/mul...card/index.htmlYes as debit card it is based on payment network live rates by the payment provider whether it is Visa or Master or others |
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xander2k8
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Mar 8 2023, 04:19 PM
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QUOTE(leo2010 @ Mar 8 2023, 03:50 PM) Latest @ 3:44pm RHB MCA : MYR4,536.50 --> USD1000 (all inclusive) Wise : MYR4,548.48 --> USD1000 (all inclusive) Latest @ 3:50pm RHB MCA : MYR5,363.60 --> GBP1000 (all inclusive) Wise : MYR5,377.20 --> GBP1000 (all inclusive) Why not you try together TnG Visa and BigPay Visa or MasterCard the older ones if you have? |
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xander2k8
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Mar 12 2023, 03:03 AM
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QUOTE(nampaknyahebat @ Mar 11 2023, 10:26 PM) So recently I have been reading comments inside some post of wise Facebook page and I found out that there are quite some negative comments saying that their account being deactivated or closed down by wise which money still inside the account. They are calling wise a scam as they said that they did not do anything that violate the rules from wise. What do you guys think ? Those reviews happens because they do not understand that there is daily and monthly limit that is imposed following BNM rules with the strict wallet size as well π€¦ββοΈ |
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xander2k8
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Mar 13 2023, 11:44 AM
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QUOTE(ASoulNamedLeo @ Mar 13 2023, 03:45 AM) There's rumours that there will be a black Monday in the financial market of the US, if any suspicious selling of JP Morgan happens, it could be a sign of a country bank run. Not sure where the Malaysia branch of JP Morgan, Wise's partner will be affected Donβt listen to so much rumours π€¦ββοΈ JP Morgan is still solid as the bank you should be worried off now is Goldman Sachs instead π€¦ββοΈ When JP Morgan is operating in Malaysia they have to contribute a reserve fund to BNM as it is an insurance for them if anythingβs goes wrong and you should be more worried about whether does BNM able to takeover all the uninsured funds in that company instead because PIDM is limited to certain amount only Their office is Intermark |
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xander2k8
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Mar 14 2023, 11:46 AM
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QUOTE(cutepony @ Mar 14 2023, 11:08 AM) Can wise send small amount of money to a Singapore bank account? Of course can but why bother because the fee will cost you instead π€¦ββοΈ |
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xander2k8
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Mar 15 2023, 05:53 PM
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QUOTE(KingArthurVI @ Mar 15 2023, 03:16 PM) Any downsides of linking IBKR with Wise and doing direct transfer WITHOUT going through my SG CIMB? Just read that it's now supported, and wondering if I can bypass CIMB SG now completely, thanks. Yea you can but beware there might slight delay due to time zone differences |
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xander2k8
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Mar 23 2023, 05:27 PM
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QUOTE(Avangelice @ Mar 23 2023, 05:12 PM) Okay guys help me make sure my calculation is correct. Money exchanger in Kuching quoted me 100 baht = 13.38 myr In wise it's 12.96 myr to 100 Thai baht So by comparing, 7000 Thai baht by money exchanger rate it's myr 936.6 myr If I withdraw 7000 Thai baht through wise in Thailand plus their 220 baht atm transaction fee it's 907 plus 28 myr. So... My as well I choose money exhanger right Money changer will always be cheaper overseas ATM anytime because of network fees π€¦ββοΈ Did you calculate correctly on Wise where is it 12.96 before fee because if you add up 1128 baht plus rm28 |
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xander2k8
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Mar 23 2023, 05:35 PM
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QUOTE(ideaplus @ Mar 23 2023, 05:30 PM) But RM936.6 can convert THB 7,185.70 after fee So why don't you just convert in wise app and use at Thailand locally? And 100/13.38 = 7.4738 which quite low rate Because it might be where goes in Thailand quite remote and doesnβt have much access to payment machines and ATMs hence why he is carrying cash π€¦ββοΈ |
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xander2k8
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Mar 23 2023, 06:03 PM
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QUOTE(ideaplus @ Mar 23 2023, 05:39 PM) Probably, but can save the cost by bring cash from MY to Thailand Some more, is it true the rate is as low as 7.47 something now? I'm going to Bangkok next few days and deciding how much need to allocate in cash/wise/HLB You need to check live rates but anything above 7.50 is consider quite attractive But money changer in EM will be expensive due to carrying costs from the FX currencies they are holding on hand |
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xander2k8
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Mar 23 2023, 06:30 PM
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QUOTE(ideaplus @ Mar 23 2023, 06:09 PM) Indeed I used wise live rate conversion to demonstrate how much THB can get from RM 936.6 after fee I'll check rate again on next Monday or Tuesday then decide how much i should allocate into cash/wise/HLB But i have no physical card on hand, as it haven't reach me. I just use google pay and cash in the worst case Stay away from HLB MCA as they are changing bank rates with 2% spread π€¦ββοΈ Better use BigPay instead or TnG Visa card if you either those |
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xander2k8
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Mar 23 2023, 07:55 PM
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QUOTE(Avangelice @ Mar 23 2023, 06:47 PM) Anything below myr 1100 is free for withdrawal based on wise new t&c after January the 3rd, 2023 Only valid in Malaysia ATM withdrawals π€¦ββοΈ He is asking for Thai ATM withdrawal whereby should be triple charges from atm, network fee and conversion fee |
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xander2k8
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Mar 24 2023, 05:19 PM
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QUOTE(ideaplus @ Mar 24 2023, 08:15 AM) 2% spread? Meaning what i see is not what i get in the HLB MCA? There is one day rate of HLB better than wise   This is today rate when i check on HLB connect. Is it the THB amount will i get if i buy RM1000 from it? Conversion rate and final rate is different rate because the rate above is before charges π€¦ββοΈ After you go next check again the rate because I am sure the rate should not be higher than 7700 thb if you use live prices because HLB would have at least taken 40-50 to baht as the fees This post has been edited by xander2k8: Mar 24 2023, 05:20 PM |
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