Hi Bros & Sistas,
I've some query regarding using TT or remit from the money changer...
Is there a limit set for daily transaction if the account is a foreigner?
How about if the account is meant for paying mortage?
Heard Bank Negara has set such criteria on foreigners' account... it's not helpful especially we need to carry cold hard cash ard and limit to RM10K/day.
Recently been bogged by backing issues over this matter? Need some expert help and advice...
Anyone has got a relaible money changer that can help resolve my problem...
Thanks ahead ... getting a little upsad...:(
No headache at all, just a bit of effort that's all. To answer your question, yes there is a RM10k limit on deposit per day into account under foreigner's name(even mortgage acc.)
1) If you want very good exchange rate for TT, go to Parkway Parade's Sino Moneychanger Pte Ltd. Another 2 reliable ones in Parkway are Everpeace Money Changer Pte Ltd and Yakadir Pte Ltd. All 3 are on level 1.
2) But because of the daily limit(and you might not be staying near Parkway), a more convenient way is to open an account with MoneyWorld Asia Pte Ltd. Their website is
http://www.moneyworld.com.sg With an account, you don't need to go all the way to their office daily to make payment, just go to the nearest ATM machine and deposit the amount you want to TT into their company's account and contact them.
3) Someone here suggested before that raffles1.sg gives better rate than Moneyworld Asia but I'm not sure whether you can deposit into their bank acc. thru ATM like Money World.
All above are reliable companies.