Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Anyone know about foreign FD?

views
     
dwRK
post Oct 9 2022, 02:19 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Hansel @ Oct 9 2022, 01:22 PM)
Tq gamenoob.

I was commenting on the Maybank FCA's foreign currency holdings in the FCA. Does Maybank allow you to TT out your, say USD to an SG USD bank account ?

Or TT-in USDs from an SG USD bank acct to be placed into the FCA USD Fixed Deposit ?

HSBC Premier shld be doable,...
*
HSBC has their 'Everyday Global Account'... non-premier also can... premier just enjoys more benefits...
dwRK
post Mar 8 2023, 10:45 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(TOS @ Mar 5 2023, 01:28 PM)
https://www.reuters.com/business/finance/cr...ces-2023-03-02/
First time I hear banks offer deposit rates higher than lending rates lol
*
QUOTE
Total assets at Credit Suisse's wealth division, which was hit by worse-than-expected 92.7 billion franc outflows in the fourth quarter, fell to 540.5 billion Swiss francs ($575 billion) by the end of last year from 742.6 billion francs a year earlier.

liquidity issue...

have to look at incrementals as well... its only 1-2% more than competitions... and base lending is only one aspect of banking business...
dwRK
post Apr 22 2023, 10:20 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(TOS @ Mar 3 2023, 12:56 PM)
To halt asset outflow, Credit Suisse is offering HNWIs 6.5% p.a. 3-month USD FD and 7% p.a. 1-year USD FD.

Minimum deposit 5 million USD. The rates are about 100-200 bps (1-2% p.a.) higher than Asian regional competitors like JP Morgan, UBS and Citi.

https://www.sinchew.com.my/20230303/%e7%91%...87%ba%e8%b5%b0/
*
reminder to all... dun blindly chase highest of high interests... lol...

must understand reasons... banks dun give fer no reason... wink.gif
dwRK
post Apr 27 2023, 07:35 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
5.15% usd affin

4.75% gbp sc
dwRK
post May 31 2023, 08:06 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Ethan @ May 31 2023, 02:58 PM)
Inward TT is free of charge?
Meaning, if I transfer US$1000 from an oversea bank into this account, I would receive US$1000?
Of course we don't take into account the fee charge by the overseas bank.
*
QUOTE(Mr Gray @ May 31 2023, 06:49 PM)
Correction. There's only RM5 fee.

https://www.rhbgroup.com/others/highlights/...0908/index.html

So yup, u should get US1000, minus RM5
*
rhb mca has no inward fee... u get full 1k
dwRK
post May 31 2023, 08:35 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
usd 5.25% liao for 3 months...
dwRK
post Jun 9 2023, 09:47 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
usd 3m 5.3% liao... smile.gif
dwRK
post Jun 27 2023, 09:26 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(ccschua @ Jun 27 2023, 01:50 PM)
has anyone invested in RHB MCA with 5% FD  ?
*

yes
dwRK
post Jun 28 2023, 11:33 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(ccschua @ Jun 28 2023, 08:31 AM)
may I know how it works ? what are the charges involved ? arent you worry about the weakness the USD later part of the year?
*
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...


QUOTE(ccschua @ Jun 28 2023, 11:02 AM)
use wise to transfer to MCA, upon maturity, transfer it back to WISE ?
*
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...
dwRK
post Jul 17 2023, 05:29 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Ethan @ Jul 17 2023, 04:08 PM)
I have opened an MCA at RHB now.
Previously I have already got an USD-account in another bank in Malaysia.

Last week I tried transferring some USD from this another bank into my MCA; it requires me to use SWIFT in this transfer.
The bank is charging a small amount for each outward TT; this I am clear.
But is the $25 fee chargeable by SWIFT and standard for all?

Just to be clear, when I make the above transfer, does the USD goes into exchange to MYR and then to USD in MCA again?

Thanks in advance.
*
you ask your bank about swift fees in this case... that one is black hole i cannot dig up much info in the past...
dwRK
post Sep 7 2023, 03:39 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(gooroojee @ Sep 7 2023, 02:09 PM)
This is available directly in Malaysia, e.g. IKBR?
*
ibkr has not set up shop in Malaysia

this US broker we can open account n trade online

there is an ibkr thread...
dwRK
post Sep 22 2023, 10:37 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Hansel @ Sep 21 2023, 03:11 PM)
General statement here : But Malaysians can't open account with their digital banks.
*
bro TOS likes to post "forbidden fruits"... 99.999% ppl here can see cannot touch... bangwall.gif

dwRK
post Oct 14 2023, 12:25 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(TOS @ Oct 13 2023, 10:35 PM)
1. Regarding DBS SG's USD FD.

I convert to USD in IBKR, then TT the money out to DBS USD FD account straightaway. 10 USD fee charged by correspondent bank JP Morgan.

Don't convert directly from SGD to USD via DBS. Their FX markup is about 2% (against interbank rates), last I check. Use other fintech to convert to USD or convert within IBKR.

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

2. Yea, it's for co-operative members only. tongue.gif
*
hmmm... not sure ibkr usd to rhb mca got correspondent fee or not...
dwRK
post Oct 14 2023, 01:06 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(abcn1n @ Oct 14 2023, 12:53 AM)
Wah. You very creative. Thanks for the answer.
Are you sure can do that? I would have assumed that it would be like normal bank tt transfer for IBKR to RHB which means lousy rates
*
rhb mca usd deposit no fees no fx... question is ibkr's bank tt usd to rhb mca, does it go through correspondent bank...

This post has been edited by dwRK: Oct 14 2023, 01:06 AM
dwRK
post Oct 16 2023, 11:02 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Medufsaid @ Oct 15 2023, 03:32 PM)
if one can buy BIL etf already, is there any advantages to go for RHB MCA USD 5% interest?
*
only reason to buy bil etfs is you wanna take a break from trading/investing, or you have excess usd cash in broker account...

if sole purpose is just to hold usd... then rhb mca is superior for now imho...

1. cheaper/easier myr to usd, and back
2. better interest rates
3. interest amount easily reinvested/compounded
4. but mca debit card has 20 annual fee, since i pay 12 for normal debit card, incremental cost is just 8

if buy bil...

1. 30% of div is 'stuck' for 6 months effective as wht
2. very high relative cost of reinvesting remaining 70% div into bil
3. estate tax if applicable, or other probate fees

bro TOS' pet peeve of only pidm 250k ringgit protection and not getting back usd in case rhb collapse and gov unable to arrange bail out... i'd say split to many joint accounts at least get back snapshot value, but really by that time, malaysia really gg, no local deposit is safe... so is valid point but rather moot... tongue.gif

This post has been edited by dwRK: Oct 16 2023, 11:06 AM
dwRK
post Oct 16 2023, 09:17 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(Hansel @ Oct 16 2023, 02:12 PM)
Hi bro DWRK,...

But if we put into rhb mca, we can't access the USD over the counter, right ? Must chg back into Ringgit first and then access the Ringoiit, right ?
*
you can wire out for a fee iirc rm 20... but cant cash out directly, but as always can try nego for a fee...
dwRK
post Oct 16 2023, 10:16 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(abcn1n @ Oct 15 2023, 07:50 PM)
RHB MCA PIDM protected up till RM250k, plus you know the exact interest  you are getting. Other than that, don't think there's much difference.
*
the issue of 250k pidm protection on foreign currency is this... if say you have 250k ringgit equivalent of usd before 'a crisis' and ringgit is significantly devaluated because of it... your usd can now be worth say 400k ringgit... but if rhb imploded and pidm steps in, you only get back 250k of 'worthless' depreciating ringgit and not your initial pot of usd worth 400k...

one might argue that he/she didn't max out 250k ringgit equivalent... say only 50k, or have split to multiple accounts, so fully protected, but you still lose out in value... because when the implosion happens, snapshot of your account includes exchange rate of say 7... it doesn't matter if current rate is 10... value of your account will be based on 7... hence you can never get back the original amount of usd with pidm money...
dwRK
post Oct 17 2023, 07:29 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
pidm is still very usefull in all cases...

holding usd is still better than ringgit as in my unlikely to happen case... biggrin.gif

holding usd/fx offshore has its own problems...
dwRK
post Oct 18 2023, 07:43 AM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(CommodoreAmiga @ Oct 17 2023, 10:08 PM)
Hhmm...been thinking to open an MCA account. RHB better? Ambank also got. Just go to RHB branch to open MCA? Basically to hold USD and get some good FD. What about charges and spread?
*
dunno... better today may not be so tomorrow... ya go branch to open

must get mca debit card ya rm 20 per yr to enjoy low fx rate right columns, no other fees... https://www.rhbgroup.com/treasury-rates/mul...card/index.html

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

can also buy paper gold n silver with this account...
dwRK
post Oct 24 2023, 08:45 PM

the consummate chartist
*******
Senior Member
6,230 posts

Joined: Jun 2006
QUOTE(TOS @ Oct 24 2023, 07:11 PM)
Same quick calculus. Others please feel free to verify my calculations. Thanks!

[attachmentid=11483142]
*
can you not simulate this fake 3.5%? you have all the details already... just set up the spreadsheet with offset payment of the bonus tier to next month, then work the irr...

ps... you post so many 'fake 3.5%' i had to go cimb sg to check it out... sweat.gif

This post has been edited by dwRK: Oct 24 2023, 08:48 PM
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

2 Pages  1 2 >Top
Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0286sec    0.50    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 02:30 AM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.