Hi there,

Just wondering if anyone has tried out Maybank's foreign TT via Maybank2u? I am trying to send some money over to China, and although the beneficiary and bank details are quite easily acquired, I have one question.

How is the recipient going to collect the money if I select the cash option? And does it mean the money will be credited to their account if I select 'to account' option?

Any idea how long it usually takes to get the money through?

Thanks ya all!

how much and what currency u want to send? to personal or company? what rate u got there? pm me, maybe i can help

I didnt know u can send "cash" via TT ?

Nah I just need to send something like RM1000, but I need to do it monthly, so anyone has any ideas on the Maybank Foreign TT? Thanks.

No one here able to answer my question about the cash option? Or is it just through bank accounts?

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Added on February 15, 2008, 6:12 pmOr does anyone have a better idea on how to send it? Should I just open a Bank of China account and transfer it via the bank?

The receipient is also using Bank of China.

This post has been edited by lord_shadow: Feb 15 2008, 06:12 PM

Better direct into account, rather than cash. At least it'll leave some footprint history for the transaction.

Every month RM1000... mistress ah ?

LOLz probably is..

TT service charge are not cheap u know?
Maybe u can try to use Paypal if u are sending to individual..i believe paypal allow withdrawal to China.
Not sure about the service fee for paypal

I've tried using it once and it took only 12 working hours to reach the bank in UK. Not much hassle except that they would charge u and also charge the other party for the transfer... charged around rm150 for the transfer of 1k pounds

cute_boboi and WaCky-Angel,

I think both of your comments on the purpose of the transaction is very unnecessary and disrespectful. Not being sensitive or whatever here, but if I were you I would reserve those comments lest it reflects on your thinking. Has it ever occurred to you there may be education and family members there? People of your kind really strike a chord in my nerve.

Ash,

They charged the other party? RM150 sounds reasonable, but is it the total for both parties or a single party?

This post has been edited by lord_shadow: Feb 16 2008, 03:40 PM

i tried once tt the money to US , maybank charge RM 25 and US bank charge me for 25 usd. Not so sure how much china bank will charge u.

That's the total amount they charge for both parties.

The post above is probably right. They charge RM25 from here and 25 from whichever country you're transferring to. I guess they charged 25 pounds over there that summed it total of rm150 for 1k pounds. It's been quite some time so I can't really recall . Sorry about that

The "Credit to cash" in the maybank2u TT is form means the beneficiary person will go to the bank and obtain the amount using cash (like what you present the cash cheque issued to you and collect cash from the counter) instead it is crediting to your bank account.



TT charge fee charged by Maybank through maybank2u is RM10 per transaction regardless of the amount.

About the amount that will be received by the beneficiary, it will be lesser than the amount you remitted ranges from USD10-USD25 (if you are sending USD).

For RMB, it is more cheaper as maybank has partnership with china's banks.

Please study first before post.

This post has been edited by jack2: Feb 17 2008, 12:54 AM

Now I have tried the Foreign TT with Maybank2u, the online form is completely in a BAD design!!!

The address I have to enter for the beneficiary and bank were deemed TOO LONG for the text box's limit. Maybank ought to look at their web design team !

Just imagine someone sending to an address in Russian, well now I need to go to the bank and perform it via the old fashioned forms way.......

Hi. I work in Beijing and have just sent you a PM - maybe we can help each other out and save on some bank charges along the way. Pls reply if you're interested.

i think its safer send over the counter... i worked in a local bank before... those internet banking or atm always have mistake....so if you don want to lost your money, then better do it over the counter... its usually takes 3-4 days ....

Hmmmmm, well I am prepared to see how inefficient the system is. I went over to the local Maybank and they wanted to charge me RM20 for the manual transaction, so I explained my situation to them.

The clerk told me that i could use short forms so long the beneficiary ID, bank account no., and and name is correct.

I submitted a small amount just to test, so it will be interesting for all to see what happens in the next few days. If this fails, then I think it's better to seek other avenues for a FTT if you can't enter the full details online.

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Added on March 5, 2008, 4:48 pmWill update on the status for the benefit of everyone in the future

This post has been edited by lord_shadow: Mar 5 2008, 04:48 PM

if wan tt to china,i would like to suggest use HSBC account via telegraft transfer,the receiver will our full details once there received the money.
one think no good on maybank while doing telegraft transfer,it will not send exactly amount to receiver n receiver can check the details about where the transaction come from...will make alot of trouble here

Well I just send money to Australia using m2u TT transfer. I've used it once and I am satisfied with the time taken (less than 24 hours) but they charge me too high - most likely the bank on the other end.

The delivery time depends on what time you send from here and what time is it currently in the country u're going to send. If both currently in trading hours, i believe it will reach the other end in 2/3 hours.

Hi guys,
I just did some quick search in LYN and found this thread.

Just want to check whether my observation is right or not: I found out that maybank is the cheapest if you want to do TT oversea as they charge you flat RM10, compare to other bank as I found out that RHB charge you min RM25 (swift) and CIMB for RM10+ courier charge, which varies from RM15.75 to RM58.80 depending on destination. Anyway, what is the courier charge?

Few more things to ask:
1- will the bank charge you for the forex rates as well?
2- The final amount in beneficiary acc- will there be any deductions?

I want to transfer money to UK. So if any of you share you experience are welcome as well

Maybank2u can TT to both account and cash.

I TT to account quite often. I haven't used cash option before but understand that the bank will contact the beneficiary to collect. Make sure you give correct ID details, tel no, etc..

How about receiving TT from abroad in USD? I'm already informed by the sender that their bank charges USD15, but how about Maybank charges when I receive my money here? Does anyone know how much Maybank charges me then?

UPDATE: Got my answer. Maybank charges RM5 for receiving TT from another country.

This post has been edited by naziaf: Oct 4 2008, 01:45 PM

Hmm.. is there a charge for receipient? Didn't note any hehe.. but my friend told me she paid SGD40 per TT.

I called Maybank. The executive said that Maybank charge RM10 - either receiving or sending TT. Hmm .. maybe the rate had been changed

T/T To China

it involve of 3rd party charge about USD28 per transaction from Maybank to China watever bank, you won't know it, they will automatically deduct from your total amount that you transferred. example: you transfer USD500 to China, beside of Maybank charge you RM10 per transfer, 3rd party agent will deduct USD28 from your total amount transfer to China = USD500 - USD28 = USD472.

btw, if you talk about HK and Taiwan, it doesn't involve any agent fee.

It has to be in USD, I transfer once to purchase bulky stock from china supplier, they received it after one day. I can't remember the transaction fees already.

The bank charges for TT is depending on the bank, different bank different rate.

For in/outward TT normally will go thru 3rd party. ie: from M'sia transfer to China/Taiwan the money will send to New York Citi bank then from there transfer to China/Taiwan. so TT it take 1-2days reach.

The intermediary normally will deduct some fee(USD10-25) from the money once the money reach the beneficiary the local bank will charges another fee.

recently I hav done 2 TT...all lost...1 is public bank, another 1 is maybank
can anyone help me....
ma fren use HSBC...it gone through veli fast
y....y local bank sucks

But what about the ROE? Which banks offer a better ROE?
Thanks for sharing.

I use Citibank, OCBC and HSBC sending money to US. So far I find HSBC is the best. Efficient and low service charge.

i want to vomit blood already.

I sent t/t to china USD109 and the supplier in China said it didn't go through and it has been one week now! I'm still a student so USD109 is a lot of money for me.

Another USD100 was sent to another supplier in China and that one went through. The supplier was pissed off because I forgot to bank in an extra USD30 for him as he has to pay that amount when he withdraw from his china bank a/c. So...i blurly went to CIMB to use the Western Union and sent over his bloody fees..and on top of that pay another USD15 to send the USD30 to him.

I really felt like crying. And now my USD109 is no where to be found. The kind lady at my maybank home branch did mention that i can write a letter to them to look into the matter and possibility of refunding me is there.....but .... rm300++++ is just a lesson I got to bear with.

I thought you should have use trusted method like paypal or alipay(widely accepted in china). in this case, no good arrived at ur side, money still can be retrieved.

Hi,

Have anyone of you use Maybank's online foreign TT?

So far I have used Maybank's foreign TT over the counter. But online foreign TT seems to be cheaper (just RM10). Is there hidden cost, especially at the OTHER side - the receiving bank? (I do notice though that Maybank charge RM10 for each inquiry about the money if use this TT ~ hahaha what a ripoff).

Anyway, for those who have used it, how's your experience, is it as safe?

Thanks in advance.

It is safe. TT many time to US. Each TT charge rm10. Receiver bank will charge too. So make sure you send more to cover the receiving bank.

ok here... i just TT to china RM 300 ..... and got charge RM 10 from maybank.... but the receiver said they receive USD 74 ?? so USD 20 was charge from bank of china ?? i thought its USD 25 ?!? hmm but how bout the amount ? if 5000 ? they also charge USD 20 also ? or will increase also ?

How long will it take for the recipient to receive the money from Maybank Foreign TT now ?

Depends to where, I've been doing TT to USA and UK frequently and always arrives in less than 24 hours.

depends on which country.

normally range 1day to 5days max

How bout sending from UK to Malaysia account?how long does it takes?And why does the system require SWIFT code from me before sending the cash?

I sent to London 2 weeks ago... maybank2u need SORT code... make sure you hv it.

But how long it took you to processed?

The money arrived the next day.... minus 22-25USD.

i receive my payment frm europe country, they send me yestreday around 6pm (gmt+8), but today is saturday, so maybank will proceed with the payment ? or need wait monday (working hour) ?

Assuming that is an electronic transfer and confirmed before 1500hrs on Friday, you should receive on Monday, latest Tuesday.

thx

has anyone transferred HKD/USD to Hong Kong using Maybank2u Foreign TT page?

If you look at the image below, this page is asking for bank name and address. I have few issues with this:

1. address field is too short to enter full address
2. there is no place to put in SWIFT code. how can i ensure i transfer to the correct bank?

appreciate some help from the experts.



Attached thumbnail(s)

Anyone here knows if I wanna transfer around 2100 pounds, how much would the beneficiary bank charge? Need to transfer from my bank to Barclays Bank. Thanks.

I've successfully transferred USD from online TT using Maybank2u to Stanchart bank in HK. On top of Maybank charge of RM10 + RM0.6 GST, another amount of USD 24 is being deducted from the amount transferred.

From online info, i see that inward TT fees for Stanchart is USD 7 (i think) (https://www.sc.com/hk/_document/pdf/en/service-charge.pdf). If so, why am i charge with USD 24 deduction?

Agent fees. If you have a SG bank account, it would be wiser to use Transferwise and transfer SGD to USD into your HK account.

If you have Stanchart MY, you might be able to transfer USD straight to HK without the charge. Maybe,

This post has been edited by Ramjade: Mar 13 2017, 05:55 PM

But to fund SGD account, isnt it more expensive to transfer from MYR to SGD to USD?

Also, how would i know which bank uses agent and which one are not using agent?

This post has been edited by jutamind: Mar 13 2017, 08:17 PM

Not necessary. Most malaysian banks let you transfer money to SG without agent fees with condition must be same bank. Eg Maybank, Cimb. You only pay RM10.60 + exchange at bank rate.

If use use Maybank SG, they will charge you incoming TT at SGD10
If you use Cimb SG, no incoming TT fees.

Then from there use Transferwise.

Alternatively, you can open USD account with Standard Chartered Malaysia (exchange at bank rate), use Standard Chartered Malaysia to transfer the USD to Standard Chartered HK. This should cut down your cost vs using other bank.

The final way, can try use Merchant Trade/Ria/Max money to send say USD100 (testing first) to your account in HK. With this method, you save on exchange rate but you might have to pay agent fees.

This post has been edited by Ramjade: Mar 13 2017, 08:38 PM

Did you get around the address field yet ? I'm facing the same incident.. Unable to fill in complete bank address

I used abbreviations. I think as long as the address is legible, I think it should work. I've removed the punctuations, use abbreviations such as road become rd. I don't think the transfer is automatic.

Also I only manage to transfer rm10k max for the transfer I did. This is probably due to I forgot to change max TT limit in the limit maintenance page in Maybank2u. So the limit I had, not sure due to limit maintenance or BNM limit. Will try transfer bigger amount next time

Thank you ! That's really helpful there ! If can belanja Teh I will surely do so.

anyone use Maybank2u FTT, then get rejection code 1201?

I called up, technician says it is due to browser issue.
Then I tried my own handphone, but it still reject me with same code.

Hi guys,
i just tt transfer money to oversea via maybank2u.

How many days would it take for payment transfered successful?

Depends on destination, sometimes it's same day. But shouldn't take more than 2-3 days overall.

Okay, thank you

yup Maybank is pretty fast. but if you're price sensitive, remittance players' rates are usually better.

Can check out people like MoneyMatch (new kids on the block), i think they are running some kind of promo because most of their exchange rates are the best and I've used them once before.

hi jutamind,

so without swift code is ok to transfer the $? thanks!

Yes can transfer as long as the address can be identified clearly

Need some help. I'm buying something from the US, and would like to transfer money to the company. They gave me all the details including swiftcode, but I notice in the online TT form will need to fill in beneficiary's ID.

The problem is, I am sending the money to a company and not an individual, so what do I need to fill in for the ID part?

Maybank first local bank to launch SWIFT GPI service

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has become the first local bank to implement the SWIFT global payments innovation (gpi) service that will enable customers to enjoy speedier, more convenient and secure cross-border remittances.

The country's largest bank by assets is joining a league of 160 major global bank groups in over 200 countries offering this new standard in global payments.

In a statement today, Maybank said the cross-border remittances include same-day overseas fund transfers to beneficiary accounts at banks under the SWIFT gpi platform (for transactions received within the banks' cut-off time and where credit confirmation has been received).

Read more at https://www.thestar.com.my/business/busines...UWLT3CCuztEA.99

Hi all,

i am facing this problem at the moment. And I called CS, but they mentioned the same issue with browser.

How can I perform the transaction?