Go Back  British Expats > Living & Moving Abroad > Far East and Asia > Malaysia
Reload this Page >

Moving large sums of money to Malaysia

Moving large sums of money to Malaysia

Old Sep 27th 2010, 7:47 pm
  #1  
Forum Regular
Thread Starter
 
Joined: Sep 2010
Location: here, there and hopefully in Penang
Posts: 137
redbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant future
Default Moving large sums of money to Malaysia

Hi there

New to this forum. Will be applying for MM2H visa and buying a property in Penang.

Please advise on how to go about moving large sums of money from Australia to Malaysia for fixed deposit and purchase of property.

Which bank will give the best rate, has minimal bank charges and provide internet banking?

Thanks
redbean is offline  
Old Sep 27th 2010, 9:18 pm
  #2  
BE Forum Addict
 
Joined: Apr 2005
Posts: 1,755
ex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond reputeex reg has a reputation beyond repute
Default Re: Moving large sums of money to Malaysia

hmmmmm
You might be better to ask your bank in Australia rather than take too much notice of an answer to such an important question on an internet site.

Ozforex for the transfer is a possibility.
ex reg is offline  
Old Sep 29th 2010, 8:47 am
  #3  
...............
 
bakedbean's Avatar
 
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
bakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond repute
Default Re: Moving large sums of money to Malaysia

I don't know which banks operate in Australia but I imagine if you find a bank that operates in both countries, it might cut down the transfer costs - but as Ex Reg says, check with your Australian bank.
bakedbean is offline  
Old Oct 2nd 2010, 10:38 pm
  #4  
Forum Regular
Thread Starter
 
Joined: Sep 2010
Location: here, there and hopefully in Penang
Posts: 137
redbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant futureredbean has a brilliant future
Default Re: Moving large sums of money to Malaysia

Hi

I managed to open an account with Maybank. Got knocked back by Citibank previously as I am a foreigner but as it is inconvenient to visit Citibank regularly, that is fine. So it ends well.

Now waiting for AUD to keep rising before transferring money to account here.
redbean is offline  
Old Oct 3rd 2010, 5:03 am
  #5  
...............
 
bakedbean's Avatar
 
Joined: Feb 2009
Location: Far North Queensland
Posts: 17,625
bakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond repute
Default Re: Moving large sums of money to Malaysia

Originally Posted by redbean View Post
Hi

Now waiting for AUD to keep rising before transferring money to account here.
Hope you don't tempt fate
bakedbean is offline  
Old Oct 6th 2010, 6:09 am
  #6  
BE Forum Addict
 
Joined: May 2007
Location: Perth
Posts: 1,179
discobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud ofdiscobay has much to be proud of
Default Re: Moving large sums of money to Malaysia

HSBC Premier customers are allowed free interbank transfers.
discobay is offline  
Old Oct 13th 2010, 2:22 am
  #7  
Just Joined
 
Joined: Oct 2010
Posts: 29
lastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nicelastresort is just really nice
Default Re: Moving large sums of money to Malaysia

Originally Posted by redbean View Post
Hi there

New to this forum. Will be applying for MM2H visa and buying a property in Penang.

Please advise on how to go about moving large sums of money from Australia to Malaysia for fixed deposit and purchase of property.

Which bank will give the best rate, has minimal bank charges and provide internet banking?

Thanks
Try using this service: http://www.oanda.com

Are you there as a permanent resident? Can people on tourist visas buy property or start businesses?

Malaysia is ranked pretty well as a place to do business. Do you find these rankings accurate?

http://www.doingbusiness.org/economyrankings/
lastresort is offline  

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service - Do Not Sell My Personal Information -

Copyright © 2021 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.