Moving Fixed Deposit
Dec 11th 2017, 1:18 am
#1
Just Joined
Thread Starter
Joined: Nov 2014
Posts: 8
Moving Fixed Deposit
In a few weeks from now, my FD matures. I can obtain a better rate elsewhere and may wish to move it to another bank. Does anyone have recent experience with this? I heard a rumour a while ago, that the authorities were not allowing us to place our deposits elsewhere, following the initial account opening.
Regards to all.
Regards to all.
Dec 11th 2017, 4:41 am
#2
...............
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
Re: Moving Fixed Deposit
Unless someone knows of any changes, that has been the case for a few years now that you CANNOT switch banks anymore. So you are stuck with whoever you went with I'm afraid, unless you quit MM2H and rejoin again.
Dec 11th 2017, 7:35 am
#3
BE Enthusiast
Joined: Aug 2015
Location: Penang
Posts: 959
Re: Moving Fixed Deposit
As bakedbean already stated.
The official announcement is here: Announcements - Year 2014 - Fixed Deposit Account under MM2H Programme (issued in 2014)
The official announcement is here: Announcements - Year 2014 - Fixed Deposit Account under MM2H Programme (issued in 2014)
Dec 11th 2017, 8:24 am
#4
Just Joined
Thread Starter
Joined: Nov 2014
Posts: 8
Re: Moving Fixed Deposit
My suspicions seem to be confirmed. Many thanks BB & SF for this information.
