Yes, seems like it. But i think the problem is the conversion rate. I am not sure how it is. If we can keep the money in USD it's great, if need to convert back to RM and then convert again to USD, then jalat. Anyone has experience?

Yeah, thinking of this, but SGD rates not as high as the USD shown. I have already opened a CIMB SG account and activated yesterday.

maybank's rate is so good. is this mbb sg or my ?

MBB my

Avoid putting foreign FD with Malaysian banks. Upon first placement you will need to convert MYR intonusd at bank rate. Upon maturity if you want the money back ou need to convert back again at bank rate.
Don't let 3%+ yield tempt you.

Everytime you convert money the bank only untung. Even with 3%+FD your final net amount will be negative or say 1%p.a.

This post has been edited by Ramjade: Aug 3 2022, 12:18 PM

can we transfer usd directly from wise into malaysian multi-currency account and then make foreign fd placement thereafter ?

Never try before. I did try with Australia FD before last time 5%p.a and ended up negative return. So much for foreign FD. That's why I said a US 3% FD cannot even beat a 5% p.a Australia FD. Best to avoid.

This post has been edited by Ramjade: Aug 3 2022, 02:19 PM

FD ended up negative return is becuz when you convert back to MYR using the bank rate correct? If don't convert means you are positive correct? But then that means the AUD stuck there I see.

Thanks for the reply.

Btw, i have found something here. CIMB claims to have the best SGD rates conversion with no additional fee.

Even based on the rates alone of RM 3.20xx, it is really better than my WISE (i did a quick check) which is at RM 3.22 and not counting the Conversion fee yet!

So those who thinking the WISE route maybe double check the rates and compare before you transfer.

I tried before TT from a bank, I think charges is the TT cable charge and admin fees only. If you need to convert then not worth it.
However, the bank kind of slow to make that FD placement even they received the fund. Maybe they realized they can't make much money from the transaction and hence dragged a week+ to check this and check that even I went to the branch a few times.....only after I complained, they placed the FD. End up I wasted 2 weeks of interest.

This post has been edited by Toku: Aug 3 2022, 08:57 PM

Yes need to convert back into rm or else the money is forever stuck as aud.

It's a known never ending promo . Keep in mind it's a promo and may end some time in the future. It's not a permanent feature.

Which bank is this will try to avoid if possible

This post has been edited by no6: Aug 3 2022, 11:51 PM

Alliance Bank

GBP FD touched 5%. USD 4.65%.

I notice MBB have MFCA account where we could keep USD. Is this deposit rate applicable to the amount kept in FCA?

Think so.

any idea after place GBP fd when due can it be transered out to wise ac?
anyone tried.?

GBP might falls further. If you haven't convert to GBP, perhaps wait for a while. Also need to check with bank for all the transfer fees, network charges, blah blah or ends up rugi instead of untung.

I recalled you will have to convert back to the RM when you wished to cashout. Fins out first if you are able to transfer out to another ctry bank acct. when you wished to access your funds.

Anybody had open an MFCA account and manage to do a FD?