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 Transfer USD from Outside to Malaysia Account, And keep as USD

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gamenoob
post Apr 18 2025, 09:19 AM

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QUOTE(ben3003 @ Apr 17 2025, 10:12 AM)
qatar do have HSBC, but need premier and advance account only can get everyday global account for free transfer. Probably have to work for few months baru can.
Need to pay loan etc in Malaysia side so have to transfer some money back lol.

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You set up local HSBC premier and ask your RM to setup HSBc premier for Qatar from here with your employment documentation. And setup EGA for both account.

Then you can get paid USD into Qatar HSBC and transfer it to MY HSBC as MYR without charges. You can also do the DCI to take advantage of fluctuating FX rate by earning short term interest at a selection of FX rates table when converting USD back to MYR.

This is based on my experience with HSBC when I set up my kid banking for UK.
gamenoob
post Apr 18 2025, 09:01 PM

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QUOTE(dwRK @ Apr 18 2025, 05:34 PM)
since you have it... what is the latest buy/sell USD exchange rate for EGA?
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Based on yesterday morning..
USD to MYR the rate is from 4.43 to 4.41

And MYR to USD from 4.3813 to 4.4026.

With DCI, you are given a table with ranges from 4 to 10% with tenure of 1 week up to 3M. It changes by the hours so need to call RM. Minimum RM50k for DCI.

Say you don't hit the FX rate with the committed tenure, you get back your 50k unconvert with the % for the period.
gamenoob
post Apr 19 2025, 09:42 AM

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QUOTE(dwRK @ Apr 18 2025, 10:02 PM)
the rates are quite good... if i take mid point 4.42 and 4.39, these are comparable to rhb...

rhb mca is interest bearing, usd currently is 2%... one can park to fd from 1 wk to 12 mths... am doing 3 mths @ 4.25% pa...

thanks again for the info...
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The hsbc premier ega also can transfer fund at zero fees between multicurrency acct. I transfer from my ega GBP to my kid ega GBP with no charges and when making foreign payment, the bank charges is also lowered.

Also can do multi currency FD like yours... but no 1 week.. min 1month
gamenoob
post Apr 19 2025, 09:45 AM

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QUOTE(ben3003 @ Apr 18 2025, 05:56 PM)
Premier eliglibilty very high lol. But my friend got it last time dunno is promo or not, only need monthly got 10k in out acc then ok already.
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Not necessarily.... you can park FD to meet their premier min amount.

 

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