Do you know if RHB MCA or any MCA can be used to receive Google Adsense income specifically? Wise doesn't work for me, and I am getting high inward TT / conversion fee on local currency bank account.

Another domestic alternative is to use local USD money market funds. The challenge is that these are usually wholesale funds that require you to register as a sophisticated investor and have big initial minimum size.

The one I use is AHAM USD liqudity fund. Its still a wholesale fund, but min ticket is USD5k only. YTD (30 May) return is 2% in USD.

This post has been edited by Cubalagi: Jun 1 2023, 08:22 AM

It seems RHB MCA is really not bad an option to keep USD.
Thanks for sharing!

UOB 6-month and 10-month rates down to 2.9% p.a from 3.1%. Expect huge competition for 6 month T-bills...

https://forums.hardwarezone.com.sg/threads/...#post-147874605

usd 3m 5.3% liao...

Wef 9 Jun, ICBC dropped their 3mth SGD FD rates from 3.55% to 3.5% using eBanking. Min amt 0.5K.

Source: ckman3/HWZ

I see no reason why u can't. Go ahead and open RHB MCA account

I actually sent an email to inquire, and it recommended me to open a Non-Export Proceeds Account (NEPA) MCA account. Now I am not sure if an individual is able to open it, or if it has to be a company. I have already sent another email to ask, or if I can't wait, I will go directly to the branch. Thanks for your reply nonetheless.

Of course individual can open it.

When I open at an RHB branch, I can select between the two options. INDA or NEPA.

https://www.rhbgroup.com/personal/deposits/...ount/index.html

Clearly stated here on the website too. INDA/NEPA

Just go an RHB branch and open it.

Link 404.

The working link: https://www.rhbgroup.com/personal/deposits/...view/index.html only got 2 types there - EDEA and INDA.

The links mentioned NEPA https://www.rhbgroup.com/islamic/deposits/m...ount/index.html and https://www.rhbgroup.com/business/sme-banki...ount/index.html stated it was for non-individuals or companies.

That's why I am a bit confused. FYI, currently PBB required invoice / receipt each time when there is foreign inward TT, it doesn't come automatically, so I think I better clarify with RHB's policy first.

It's best that u just go a branch and talk to RHB rep.

Even if only non-individual is allowed to do that, what's stopping you from incorporate as an enterprise or LLP?

If your income from AdSense is getting significant every month, perhaps it makes more sense to incorporate?

This post has been edited by Mr Gray: Jun 12 2023, 04:57 AM

Business account / NEPA got no debit card and thus no special counter rate.

Anyway, I opened an individual account and try to see if I can receive the payment, the staff got no idea as well.

HKD FD promo updates by 香港明报: https://finance.mingpao.com/fin/daily/20230...%ad%96%e7%95%a5

https://finance.mingpao.com/fin/daily/20230...%81%af%e6%88%b0

This post has been edited by TOS: Jun 24 2023, 10:41 AM

BOC Singapore 1-month and 24-month FD rates revised: https://www.bankofchina.com/sg/bocinfo/bi3/...6_23274982.html

Source: bargin/HWZ

has anyone invested in RHB MCA with 5% FD ?

yes

may I know how it works ? what are the charges involved ? arent you worry about the weakness the USD later part of the year?

This post has been edited by ccschua: Jun 28 2023, 08:31 AM

I did it for Maybank.
Just tell the staff u wan to put USD FD from your MCA. No extra charges needed.

I would suggest u put 7 days - 14 days FD durations will do.

use wise to transfer to MCA, upon maturity, transfer it back to WISE ?

send myr to rhb mca... convert to usd... fd placement... special fx rate with mca debit card-i but you pay rm20 per year for it... no other charges

my case already have usd... send to rhb mca... fd placement... yes have to decide currency/fx risk vs interest earned...


wise will use swift network to send to mca... extra fee around $25 irc... upon maturity can continue with usd fd or convert to myr within rhb... good fx rates for now...