Stumbled across this just now:



With USD rates going up and up, isn't it a good move to put FD in USD? Hedge your money and at the same time get good FD rates!

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.

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.