Paid out of the UK

Old Oct 13th 2011, 3:50 am
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Default Paid out of the UK

Anyone on here paid out of the UK in £'s? If so what is the best and most effective way of converting this to MYR? I'm hoping to relocate to KL very soon but will be paid in £. Any advice would be much appreciated.
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Old Oct 13th 2011, 5:43 am
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Default Re: Paid out of the UK

A bit secondhand info but..... some friends have their pensions paid in GBP into HSBC in the UK. They have the Premier status... not sure how much dosh you have to lodge to get this status. But.... they can then transfer monies via the internet for FREE to HSBC Malaysia and convert into MYR. Not sure how great the exchange rates are, but free transfers are worth quite a lot, as they really rachet up the cost of doing this from the UK.

Ooh I think BE has a paid sponsor on here somewhere. Maybe the home page of the forum?? Might be worth a look.
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Old Oct 13th 2011, 5:46 am
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Default Re: Paid out of the UK

Oh just found this thread about transferring money from UK to Malaysia here

There's actually quite a few banking threads on here. If you go to the Malaysia forum page, you'll see a search button Top Right on the blue band. Click that and put in HSBC, you'll see quite a few threads coming up.
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Old Oct 13th 2011, 6:54 am
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Default Re: Paid out of the UK

Thanks BB. Will need to investigate this further.
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Old Oct 18th 2011, 11:57 am
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Default Re: Paid out of the UK

To my knowledge HSBC to HSBC bank transfers are free regardless of status. I have the lowest level of the HSBC savings account in the UAE, UK and Malaysia and transferring funds between them is very fast and free. Be advised that this only counts for online banking, if you do it over the counter they will charge you a small amount (it was 20RM for me) and it will take a day or two longer. I am using their Amarah/Islamic accounts though I doubt this changes anything.

Overall I love HSBC for traveling etc, you'll always find a branch or ATM wherever you go in the world and usually at the airport. It's well worth having an account regardless of who else you use purely for that reason, the minimum balance is nothing anyway. You'll have to have a local bank account as well though; in Malaysia there are only a few dozen ATMs at most (something to do with competition laws since HSBC would outclass any local bank with ease).

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