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 Anyone know about foreign FD?

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cherroy
post Aug 18 2016, 09:47 AM

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QUOTE(TSOM @ Aug 18 2016, 09:10 AM)
if open a foreign currency FD, do we also need a foreign currency bank account for when the FD expires, it will credit it to this bank account??

if use a foreign currency bank account, do they charge USD$4 per transaction?
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Normally expired FD will be auto-roll over.

While if not wish to roll over, then one can open a foreign currency current account to keep those foreign denominated currency.

cherroy
post Jan 5 2018, 09:45 AM

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QUOTE(ryansxs @ Jan 4 2018, 10:53 PM)
Guys, i need some advice.
Maybank told me to open foreign currency account you need a reason, such as kid studying in US or something. Can someone tell me if this is a rule for all the bank?

Please advice any bank that i can easily open a foreign currency account easily.

TY
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Yes, you need to state the purpose of having a foreign currency account.
Be it investment, kids education, business whatever etc.

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