lol...

they just kuli follow sop... won't entertain you lah... hahaha

banks have been known to cancel ppl accounts without notice...

If I management... make you come hq to claim refund... hahaha

Maybe you are right. Just proposing a more "novel" idea.

In the end, the final decision is made by humans, SOP also wriiten by humans, so psychology is always something to play with.

Very bad management ah you...

Hi Sifus,

I am looking for the ATM charges for withdrawal money overseas, but couldn't find it on the website.
I only managed to find 2 x free ATM withdrawal per month for MYR withdrawal below RM1000, but nothing mention about ATM withdrawal overseas from multi currency account.

Can someone point me to the right URL?

Thanks.

https://wise.com/my/pricing/

u just need to switch the 'resident' to the dedicated country u are going to visit, then u will get the fee for withdrawal at that country atm

Thanks. So if I understand it correctly, if I have Yen in my Wise multi currency account, If I withdraw from ATM in Japan, based on the link given:

Withdrawing 30,000 JPY per month 2 or less withdrawals - Free

The ATM withdrawal would automatically withdraw from my Yen multi currency account? Correct?

Thanks.

yep

This feels a bit strange to me as I never used overseas ATM before....

So in Malaysia, we get additional charges if you use different bank ATM. E.g. I have CIMB card and use on Maybank ATM, there's a RM 1 fee. Does this kind of fee exist in other countries in similar format? (That Wise doesn't mention since it's not them who charges it)

It highly depends.

In most countries their ATM charge a fixed fee when withdrawing with foreign cards. But in colombia some ATMs like Davivienda or Scotiabank Colpatria charge no fees at all, weird.

probably bank atm vs private atm...?

Same... fees using other banks atm... but if premium banking is waived...

Nah Colombia isnt like Europe or Canada lah, the ATMs here are definitely run by banks, they just have some sort of agreement maybe.

Oh... was responding to 1st sentence...

zero fee no need to think much... hahaha...

Thanks guys, Wise card ready to go, delivered from Singapore via air mail! Wise going real green eh

Just curious, if I top up to my MYR account first then convert to JPY vs I top up directly to JPY account from my bank account, will there be additional charges?

As I noticed the rate were slightly different for both trx, or are they following the live FX rate that fluctuate every second?

Top up to MYR then transfer to JPY or topup directly to JPY, it's same, no additional charges.

Yes, the rate fluctuate every second.

if i want to save monthly MYR to SGD for eventual investment using USD in IBKR, which to chose?
a) save the RM500 per month into wise SGD or
b) to save in CIMB SG account?
any pros and cons to this methods?

PS: To lock in monthly forex rate

This post has been edited by kimi0148: Oct 5 2022, 08:30 AM

I always purchase stuff from Ebay and am using PayPal (which charges quite a bit). Will using Wise help on this?

Another question, I have some $ on Etrade (company stock). Can I transfer those to my Wise account?

In your options, definitely (a). Sounds to me you plan to use TT via CIMB MY to CIMB SG for (b) and that is actually very expensive -- always check all the fintech/money exchangers you have access to, to compare the money to be received.

One more note, it's generally better to transfer more at one go. E.g.
- Wise has fixed fee on top of % fee, making its low-amount transfer less favourable
- SunwayMoney offers discount when you exceed certain amount
...So with that said, I would recommend you to park the amount into a liquid instrument (MMF or monthly-tenure online FD), then transfer more at one go (bimonthly? Quarterly?). I can't read the future and I haven't done the maths, but I feel securing the little bit of interest + saving a bit of fee is better than betting on MYR to keep bleeding more... I also want MYR to stop bleeding also la 😢

Anyway, not investment advice, this is up to you ya. I also understand 1 month can lose quite a lot in rate :')

I don't have experience with eBay/overseas purchase via wise yet, but I would imagine yes.... Can use Wise in FPX ah?? anyway, note that you would be at Wise's mercy in terms of the transfer rate. By depositing the minimum required amount, you can get IBAN/SWIFT (bank account number) to make it work like your personal bank account, but for anti-money laundering purpose, it will not accept 3rd party money (which, other fintech transfer would count as such)...

--
For brokerage withdrawal, I have only heard that Wise hates crypto sources e.g. Binance, because they're risk averse (crypto is very often associated with money laundering and scam). Don't know about stock brokerage though.......

This post has been edited by Takudan: Oct 6 2022, 01:46 AM

i found... top up usd then xfer to myr... better than xfer directly usd to myr...

tested back to back

have to test case by case...

probably yes... as local cc usually got markup...

yes... use ach xfer to Wise usd account... if use wire you pay a small fee