Received MY Wise card this week and managed to activate/use it for chip & pin transaction.

However, it failed to get through contactless transaction yesterday, after activation.

Anyone faces similar problem ?

Thanks

it is enabled for all payment methods (contactless inclusive), not exceeding transaction limits either.

I will ask for the transaction error codes next time when I try.

It's 4-digit PIN and worked with chip & PIN transaction.

I just tried contactless at another store just now and the transaction went through successfully.

It's all good to go.

There is a USD7.5 flat rate fee for "Receiving" USD wire transfers, FYI ..

Account pricing
Receive money in EUR, USD, GBP, AUD, NZD, HUF & SGD Free
Receive USD using ACH or bank debit Free
Receive USD wire transfers
7.50 USD


To "Add" USD, there is a fixed fee of USD4.14.


I wonder what is the difference between "Add" vs "Receive", apart from the fee structure.

1st PIN activation(successful) and contactless(declined) transactions were at the same shop on different days.

Subsequent contactless transaction(successful) was at a different shop. I have not made any new transactions since then.

Maybe contactless is only accepted at certain outlets ?

Contactless :
Hong Leong - ok
Public Bank - declined

Yes, "Visa Platinum".

Does it carry additional benefits ? I doubt it for prepaid/debit card ..

------------------------------------
Transfer money locally
From 28 October 2021, there will also be some limitations if you’re sending money to a bank account in Malaysia. You’ll only be allowed to make transfers that involve MYR. This means that:

If you are sending MYR from your account, you can send any currency to your recipient.
If you are sending a currency that is not MYR from your account, you can only send MYR to your recipient.
This change won’t affect international transfers. If you are transferring to a recipient account that is not in Malaysia, you can send from or to any currency — there are no limitations.

------------------------------------

Email notification from Wise previously.

Could this be the reason ?

It depends on what currency you want to convert. A snapshot for your reference (~ 9:30am)

RHB MCA :

MYR4525 --> USD1000 (all inclusive)

Forex rate gets refreshed every 5-10min

There is a RM20 annual fee for the debit card

$$ in your call account gets to earn daily interest, accrued by end of the month.

https://www.rhbgroup.com/treasury-rates/mul...osit/index.html

https://www.rhbgroup.com/treasury-rates/mul...card/index.html (indicative)


Wise :

MYR4534.66 --> USD1000 (all inclusive)

Apply for MCA with Multi-Currency Visa Debit Card.

Refer to the right most columns under "Multi Currency Account/-i Debit Card Special Counter Rate*"

It can NOT be done online but I was told you can do so over the counter, with outgoing transfer charges


https://www.rhbgroup.com/others/service-charges/index.html

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)

I use this to decide on which card for payment in foreign currency. Not for fund transfer ..

BTW, I am NOT affiliated with RHB or Wise, just happen to own both cards ..

Initiate Forex first, followed by debit card transaction. No additional charges.

WYSIWYG.

You can transfer USD between IBKR and TDA using the broker's receiving bank information.

If you decide to go with the RHB MCA route, there are typically correspondent bank charges incurred, in addition to RHB zero inward & USD10 outward FTT.

RHB outward FTT can only be done at the branch, if no MYR-USD Forex involved.

TDA SG -> IBKR Wire Transfer was FOC, transaction done last year.

You can check if the same is true for IBKR -> TDA US/TDA SG

The forex rate at https://www.rhbgroup.com/treasury-rates/mul...card/index.html isn't real time.

You need to hold MCA account with VISA debit card to get this special "Counter" rate. The term "Counter" is somewhat confusing ...

Login to RHB online account/mobile app to initiate a buy/sell transaction (you can cancel transaction half-way through) to see the latest rate, which only get refreshed every few minutes.

This post has been edited by leo2010: Jun 1 2023, 02:43 PM

MYR <--> Foreign currency exchange can be done online with RHB MCA. Remember to ask for MCA Visa debit card to get better forex rates.

https://www.rhbgroup.com/treasury-rates/mul...-card/index.htm

What’s the ATM cash withdrawal fee in South Korea ? MY Wise card readily acceptable, paywave and PIN ?

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This post has been edited by leo2010: Sep 8 2023, 08:58 PM