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Anyone know about foreign FD?
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rjb123
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Dec 6 2016, 12:53 AM
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QUOTE(axisresidence17 @ Dec 5 2016, 05:13 PM) Which bank gooding for opening foreign denominated currency account - r they mostly current n not saving? and can we also withdraw money in the other country? Most banks offer foreign currency accounts but Maybank, CIMB etc you can only use your account to either send / receive TT payments or transfer to / from your RM account. You won't have a card for foreign withdrawals, and can't withdraw / deposit cash. Citibank does offer withdrawals in foreign currencies overseas and over the counter with a charge (can't recall what those charges are) and you have minimum balance requirements too.
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rjb123
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Dec 6 2016, 10:55 AM
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QUOTE(axisresidence17 @ Dec 6 2016, 10:48 AM) Thanks! Say if you are receiving income from Amazon(say mostly pound and dollar). What wud be the best account for this? If Amazon pays out in USD/GBP then most foreign currency accounts are about the same. If you can deposit more (say RM150k+) you can open in Uk also which can give you debit cards too - depends what features you need.
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rjb123
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Dec 6 2016, 12:33 PM
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EFT is used in US to US based accounts I believe, not USD accounts held outside of the US
Cheque in foreign currencies I have no idea - I wouldn't accept cheques because they're a pain!
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