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 Wise (Transferwise) Malaysia Discussion, v1.0

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ziling60
post Aug 11 2022, 01:08 PM

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QUOTE(Ramjade @ Jul 30 2022, 11:34 AM)
You can received money through wise. But if you want to store money you need the multicurrency account. Wise on it's own cannot store money. Even their multicurrency account can store only rm20k.

Of course depend on how big is your amount. Your receiving bank will likely question you about source of money (which you need to give) or else money will never be released to you.
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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.
Ramjade
post Aug 11 2022, 01:12 PM

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QUOTE(ziling60 @ Aug 11 2022, 01:08 PM)
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.
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Shoulder be no issue to send money back to Malaysia. I have always been sending money out of Malaysia. So can't really help you.

This post has been edited by Ramjade: Aug 11 2022, 01:12 PM
ziling60
post Aug 11 2022, 01:17 PM

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QUOTE(Ramjade @ Aug 11 2022, 01:12 PM)
Shoulder be no issue to send money back to Malaysia. I have always been sending money out of Malaysia. So can't really help you.
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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.
Ramjade
post Aug 11 2022, 01:31 PM

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QUOTE(ziling60 @ Aug 11 2022, 01:17 PM)
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.
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I don't hold SGD. SGD is good currency but sg stock market is a lousy place to grow your weslth. Only banks and reits. Not much quality companies there. I converted all my SGD into USD and invest them.

This post has been edited by Ramjade: Aug 11 2022, 02:14 PM
touristking
post Aug 11 2022, 02:12 PM

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QUOTE(tadashi987 @ Jul 3 2022, 11:00 PM)
yep second that, tried here in UK for a week, the contactless failed almost every single time, can't remember any successful wave
even BigPay contactless succeeded more frequently than Wise card
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Not tried the Wise Paywave. But my Bigpay Paywave failed half the time in Europe so I gave up. May be the problem is with Visa itself?
touristking
post Aug 11 2022, 02:16 PM

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QUOTE(fakerdemit @ Jul 10 2022, 10:14 AM)
Hi, I’m planning a trip to UK and Europe later this year. Would you recommend I get both bigpay and wise card or just the bigpay card since the wise has a lot of issues based from what i read here? Also, does the wise card has contactless issue with the card itself and does it work fine if I add that card to googlepay for contactless method? Appreciate your input on this. Thanks.
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My experience. Bigpay Visa Paywave fails often. My normal bank credit card Mastercard contactless never fails.


avinlim
post Aug 17 2022, 11:07 AM

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How can I request people transfer money from china (RMB) to malaysia RM via wise? Can Wise do that?
lillingling
post Aug 18 2022, 10:48 AM

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Is it still recommended to use wise for travel purposes?
im looking into euro and saw that ppl reco midvalley got better rate than wise.
and also, seems like its very hard to get in contact with their customer service.
can i get some advises from sifus here?
would probably just exchange for like 1k euro 🤔

dwRK
post Aug 18 2022, 05:02 PM

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QUOTE(lillingling @ Aug 18 2022, 10:48 AM)
Is it still recommended to use wise for travel purposes?
im looking into euro and saw that ppl reco midvalley got better rate than wise.
and also, seems like its very hard to get in contact with their customer service.
can i get some advises from sifus here?
would probably just exchange for like 1k euro 🤔
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i prefer not to carry too much cash for safety... will always just get enough for incidentals...

peace of mind > a few euro savings...

my kid and friends went to France recently... the friend lost her wallet and all monies...
contestchris
post Aug 19 2022, 11:54 AM

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How long does it take for Wise card to reach us?
tadashi987
post Aug 19 2022, 11:11 PM

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QUOTE(contestchris @ Aug 19 2022, 11:54 AM)
How long does it take for Wise card to reach us?
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2-3 weeks
TSweisinx7
post Aug 22 2022, 10:03 AM

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Did anyone successfully create a business account in wise and created a multi-currency account for it? Tried to do it but looks like the support told me it's not supported for now:

at the moment we do not support multi currency account feature for businesses in Malaysia. We support it only for personal customers.
TOS
post Aug 30 2022, 08:50 PM

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Wise user alert!

Wise

Wise fined by Abu Dhabi over anti-money laundering failures
Payment fintech under pressure as economic conditions worsen and chief probed in UK

by Siddharth Venkataramakrishnan and Emma Dunkley in London (2 HOURS AGO)

» Click to show Spoiler - click again to hide... «

TOS
post Sep 5 2022, 09:42 PM

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Revolut news, but no revolut thread, so post at its closest competitor's thread...

Financial services

Revolut under pressure after UK regulators find audit flaws
Financial Reporting Council said failures created ‘unacceptably high’ risk of misstatement for $33bn fintech

by Laura Noonan, Michael O’Dwyer and Siddharth Venkataramakrishnan in London 10 HOURS AGO

» Click to show Spoiler - click again to hide... «


1234_4321
post Sep 8 2022, 05:02 PM

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Would like to check with you all the best way to receive USD.

Wise USD account mentioned There’s a 4.14 USD fee to receive wire transfers.

If I get the payer to transfer to Saving MYR account in Malaysia, would it be cheaper ? I assume no charge when payer bear the SWIFT cost?
!@#$%^
post Sep 10 2022, 09:18 PM

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any idea how to change pin?
TOS
post Sep 10 2022, 09:25 PM

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QUOTE(!@#$%^ @ Sep 10 2022, 09:18 PM)
any idea how to change pin?
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https://wise.com/help/articles/2977978/how-...arch-change+pin
teslaman
post Sep 10 2022, 09:29 PM

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QUOTE(ziling60 @ Aug 11 2022, 01:08 PM)
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.
*
declare to your bank, not bnm directly

unless your account is with bnm
gooroojee
post Sep 10 2022, 09:34 PM

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I wonder if TS can change the subject of this thread... a bit misleading now
!@#$%^
post Sep 10 2022, 09:45 PM

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QUOTE(TOS @ Sep 10 2022, 09:25 PM)
any idea which bank can?

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