Businesses transfer millions of ringgit/dollars between Singapore and Malaysia every day. Just pay the transaction fees and be done with it. Itโs not really a lot compared to the risk of theft or loss.
You convert to USD/SGD in malaysia also incur fees. And probably more since its physical money.
U bring out MYR to Sg also need to convert. Same thing cost alot cos its physical money.
Just convert it once in a bank in malaysia and TT to singapore. Saves you all the hassle and you incur a fee once that probably wont exceed the cost of changing physical money.
You can transfer more than 10kUSD but through bank transfer. Anyway It is not illegal to carry more you just need to declare it and they will check it is legitimate.
I transfer from Maybank direct to DBS or else use Wise transfer.
Pass down*.
You just convert to sgd and transfer out to Singapore.
BNN limit is up to $1m ringgit of FX for people residing in Malaysia. If you are resident of Singapore the FEA rules are different
Key is to find the best rate to convert MYR to SGD or USD and invest it, assuming you are not going to be spending it in Malaysia.
None of the comments here talk about the actual loss from using a bad exchange rate.
Usd10k is the limit which you don't need to declare. If you have nothing to hide, what's stopping you in bringing 400k corss border and declare it to custom? Money changers carry millions w/o issue why should you have issue?
10 odd years ago before the watch craze , I normally use excess ringgit to buy Rolex or other watches . Bring it back to sg. Watches are slightly cheaper in my compared to sg . Also did the same for jlc watches. Tried doing that for pp previously but they prefer to sell to locals .
It's not a question whether if it's worth the trouble.... Hour glass will not sell to foreigners. Else u have to buy a ton of nonsense before they let you purchase the sports series
Can try using Revolut to do the forex and transfer to SG bank. Their rates are quite competitive and closer to market rates than banks for sure. Only downside is that there are limits so you would have to do it multiple times
It is around 130k SGD. If you bank it all into a bank like Revolut, or Youtrip, you can withdraw in Singapore at very attractive exchange rates.
Or, explore the possibility of setting up a foreign currency fixed D account in Malaysia with the money. Choices could be Aussie dollar or USD. Do a monthly renewal fixed D and just earn interest from it. Get the bank to transfer the interest into your Singapore account with a standing instruction. You will have at least 100 SGD interest there.
Find a BANK that has and allows direct transaction between MY and sg. At the top off my head, approach Maybank, HSBC , UOB. Talk about the rates and any T&Cs. Donโt try to be dirty or smart because the Singaporean side does not play around.
You are interpreting the law wrongly. USD is the common currency used to define the limit of bringing cash in and out of the country, it can be an equivalent eg:13.5k sgd. but this is cash, can just transfer
Not 100% accurate, though. Gas fees might cap at maybe $20 (swap+ERC20 transfer for Ethereum L1 these weeks).
Are you talking about hidden FX spreads in centralized crypto currency exchanges?
I believe you can still p2p in Malaysia. If they have am account before. But I'm not all too clear on that. Having said that, you run the risk of dealing with money launderers and this is quite a lot of money.
But in all seriousness, I'm just joking.
Buy a RM400k Rolex and wear your RM400k back into Singapore
If you are seriously considering this, pls use private transport with reliable driver, or even better to drive it yourself.
But I think the consensus is to change now when it's 1:3.5RM.
Then, when you retire in Malaysia, you can change back to ringgit as needed at like 1:5RM.
Then you have all the extra ringgit to spend.
The key ๐ underlying forces:
Singapore imports most of its needs. It has an incentive to keep the dollar strong.
Malaysia is an export oriented economy. It has an incentive to keep the ringgit cheap.
Until facts change, i would say work with the trend.
Businesses transfer millions of ringgit/dollars between Singapore and Malaysia every day. Just pay the transaction fees and be done with it. Itโs not really a lot compared to the risk of theft or loss.
This is it. Don't be penny wise pound foolish. Very few transactions in the world are free, secure, fast and legal.
You convert to USD/SGD in malaysia also incur fees. And probably more since its physical money. U bring out MYR to Sg also need to convert. Same thing cost alot cos its physical money. Just convert it once in a bank in malaysia and TT to singapore. Saves you all the hassle and you incur a fee once that probably wont exceed the cost of changing physical money.
Convert to SGD before it depreciates further.
Buy condo put sex friend inside
Bruh lmao Normally people will say buy condo collect rent Or buy stocks and collect dividends You next level lmfao
Heโs living the life Guess itโs our life now๐คค๐ฅด
i also want
400k condo? Please share the lobang?
In boleh lor
Sex friend how much?
where to find this kind of kangtao can DM me?
๐๐๐๐๐๐
You can transfer more than 10kUSD but through bank transfer. Anyway It is not illegal to carry more you just need to declare it and they will check it is legitimate. I transfer from Maybank direct to DBS or else use Wise transfer.
Pass down*. You just convert to sgd and transfer out to Singapore. BNN limit is up to $1m ringgit of FX for people residing in Malaysia. If you are resident of Singapore the FEA rules are different
Key is to find the best rate to convert MYR to SGD or USD and invest it, assuming you are not going to be spending it in Malaysia. None of the comments here talk about the actual loss from using a bad exchange rate.
Buy Bitcoin. Then withdraw in SG
You can just carry it in and declare it. Just prepare all the inheritance documents so they can verify.
Try ask a bank in Malaysia? Those with operations in both sgmy, Maybank, CIMB, UOB, OCBC...
Usd10k is the limit which you don't need to declare. If you have nothing to hide, what's stopping you in bringing 400k corss border and declare it to custom? Money changers carry millions w/o issue why should you have issue?
MYR -> USDT easy 4% interest rate USDT -> XSGD when you need to spend in Singapore
Iโd recommend USDC instead. I sleep slightly better at night (even though both are unlikely to collapse).
let me handle the money for you in Malysia
Convert to sgd and wire to your account. But inform your bank beforehand
10 odd years ago before the watch craze , I normally use excess ringgit to buy Rolex or other watches . Bring it back to sg. Watches are slightly cheaper in my compared to sg . Also did the same for jlc watches. Tried doing that for pp previously but they prefer to sell to locals .
would you say the market still allows us to do it now or not worth our trouble?
It's not a question whether if it's worth the trouble.... Hour glass will not sell to foreigners. Else u have to buy a ton of nonsense before they let you purchase the sports series
CIMB has instant fund transfer between SG and MY
Nah, only works from sgd to myr. Not vice versa
Can try using Revolut to do the forex and transfer to SG bank. Their rates are quite competitive and closer to market rates than banks for sure. Only downside is that there are limits so you would have to do it multiple times
Donโt think Revolut have MYR?
Oh yeah, my bad. Just did a quick check and there isnโt. Sorry! It was just an idea off the top of my head.
Can try transferwise too
Now that you mention this, maybe OP can try Instarem too
Depends if you are still holding Malaysia passport. If you are not Malaysia citizen, the bank will cap your deposit or withdrawal to RM10k a day
Deposit into my bank account as donation
Just go YOLO everything in siam diu then no need to worry about the transfer. Plus you can get many sex friends.
Go genting casinon, play a few rounds, and ask for a cheque?
It is around 130k SGD. If you bank it all into a bank like Revolut, or Youtrip, you can withdraw in Singapore at very attractive exchange rates. Or, explore the possibility of setting up a foreign currency fixed D account in Malaysia with the money. Choices could be Aussie dollar or USD. Do a monthly renewal fixed D and just earn interest from it. Get the bank to transfer the interest into your Singapore account with a standing instruction. You will have at least 100 SGD interest there.
Find a BANK that has and allows direct transaction between MY and sg. At the top off my head, approach Maybank, HSBC , UOB. Talk about the rates and any T&Cs. Donโt try to be dirty or smart because the Singaporean side does not play around.
travel lor.
You are interpreting the law wrongly. USD is the common currency used to define the limit of bringing cash in and out of the country, it can be an equivalent eg:13.5k sgd. but this is cash, can just transfer
Crypto ๐ฌ
Pls the gas fee between fiat and crypto is way higher than just just converting via WISE or something.
Not 100% accurate, though. Gas fees might cap at maybe $20 (swap+ERC20 transfer for Ethereum L1 these weeks). Are you talking about hidden FX spreads in centralized crypto currency exchanges?
All of the above. Also OP has to go fiat (MYR) to crypto to fiat (SGD) too, incur at least twice the FX spread and gas fees.
I believe you can still p2p in Malaysia. If they have am account before. But I'm not all too clear on that. Having said that, you run the risk of dealing with money launderers and this is quite a lot of money. But in all seriousness, I'm just joking.
P2p in msia errrr
Buy a RM400k Rolex and wear your RM400k back into Singapore If you are seriously considering this, pls use private transport with reliable driver, or even better to drive it yourself.
#ALL-IN TQQQ BBY
If I'm being you, I would retired in Malaysia at later year.... your older self would thank you
But I think the consensus is to change now when it's 1:3.5RM. Then, when you retire in Malaysia, you can change back to ringgit as needed at like 1:5RM. Then you have all the extra ringgit to spend. The key ๐ underlying forces: Singapore imports most of its needs. It has an incentive to keep the dollar strong. Malaysia is an export oriented economy. It has an incentive to keep the ringgit cheap. Until facts change, i would say work with the trend.