MYR to GBP exchange - reliable forex broker?
#1
Just Joined
Thread Starter
Joined: Sep 2013
Posts: 19
MYR to GBP exchange - reliable forex broker?
Hello,
I need to exchange large amounts of MYR to GBP and I am looking for a reliable forex broker. Previously, I have used World First and Currency Transfer but neither of these have the facility to do MYR to GBP exchanges. Can anyone recommend any reputable companies? A colleague mentioned Money Master in Midvalley but he had only used them for cash exchanges and I'm a bit wary about transferring funds to them and then expecting them to transfer money to my UK account (if they even have this facility).
Thanks for your help.
I need to exchange large amounts of MYR to GBP and I am looking for a reliable forex broker. Previously, I have used World First and Currency Transfer but neither of these have the facility to do MYR to GBP exchanges. Can anyone recommend any reputable companies? A colleague mentioned Money Master in Midvalley but he had only used them for cash exchanges and I'm a bit wary about transferring funds to them and then expecting them to transfer money to my UK account (if they even have this facility).
Thanks for your help.
#2
Re: MYR to GBP exchange - reliable forex broker?
Suggest you read this thread http://britishexpats.com/forum/malay.../#post11738858 and then follow the link to the second thread.
#3
BE Enthusiast
Joined: Aug 2015
Location: Penang
Posts: 959
Re: MYR to GBP exchange - reliable forex broker?
A regular bank, such as CIMB, is not suitable for your purpose? https://www.cimbclicks.com.my/clicks...remittance.htm
BNM has a short list of approved money brokers: List of Licensed Financial Institutions in Malaysia | Bank Negara Malaysia | Central Bank of Malaysia
BNM has a short list of approved money brokers: List of Licensed Financial Institutions in Malaysia | Bank Negara Malaysia | Central Bank of Malaysia
#4
Forum Regular
Joined: Jun 2015
Posts: 284
Re: MYR to GBP exchange - reliable forex broker?
Have you tried Transferwise? No personal recommendation, but I heard their fees are low.
#5
womble
Joined: Sep 2005
Posts: 2,675
Re: MYR to GBP exchange - reliable forex broker?
I've ended up using HSBC premier for transfers.
#6
BE Forum Addict
Joined: Mar 2011
Posts: 1,274
Re: MYR to GBP exchange - reliable forex broker?
I've also used HSBC Premier to transfer MYR out to another currency...but the Malaysian Finance Dept. will not permit MYR to leave Malaysia...it has to be exchanged prior to transfer.
Consequently most Forex do not deal in MYR ...and TransFerwise doesn't transfer unless between Malaysian banks.
Consequently most Forex do not deal in MYR ...and TransFerwise doesn't transfer unless between Malaysian banks.
#7
Forum Regular
Joined: Nov 2015
Location: Penang
Posts: 133
Re: MYR to GBP exchange - reliable forex broker?
[1] The best incoming has been Halifax Clarity and withdraw from the ATM here but only useful for low amounts upto ~RM1500 a day