MM2H Fixed Deposit at more than one bank
Oct 27th 2014, 4:53 am
#1
Forum Regular
Thread Starter
Joined: Oct 2014
Posts: 79
MM2H Fixed Deposit at more than one bank
Has anyone spread their MM2H Fixed Deposit across more than one bank? For example, a FD of MYR50,000 at HSBC and a FD of MYR100,000 at CIMB.
Or does anyone know if this is allowable to meet MM2H FD requirements?
Or does anyone know if this is allowable to meet MM2H FD requirements?
Oct 27th 2014, 12:41 pm
#2
Forum Regular
Joined: Oct 2014
Posts: 150
Re: MM2H Fixed Deposit at more than one bank
Hi Mntakute,
As far as I know, you may not spread it across more than 1 bank.
What we did was open two FDs with the same bank - one containing MYR50,000 and the other MYR100,000. Apparently it makes it easier to withdraw money later for purchase of property, etc.
Hope this helps.
As far as I know, you may not spread it across more than 1 bank.
What we did was open two FDs with the same bank - one containing MYR50,000 and the other MYR100,000. Apparently it makes it easier to withdraw money later for purchase of property, etc.
Hope this helps.
Oct 27th 2014, 2:55 pm
#3
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Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: MM2H Fixed Deposit at more than one bank
I think Fenella has got it right 
New ruling came in this year (I think) also that you cannot change banks after setting up. So....say you set up with CIMB, you are then stuck with them for the life of the visa.
New ruling came in this year (I think) also that you cannot change banks after setting up. So....say you set up with CIMB, you are then stuck with them for the life of the visa.
