Author Topic: Banks in Malaysia - a couple of questions (Read 866 times)

HIDDEN · « **on:** September 12, 2009, 06:12:34 PM »

1. Any dress code for Banks?
You may be laughing at this question. In Singapore we could walk into banks in shorts/t-shirts no problem. In Phuket, the first bank we tried to get an account, we literally got frog-marched out of the door. It's a funny place.

2. I know that in some countries now, the UK for example, if you deposit a certain amount of cash in your bank account, they want to know where it's come from - like proof of house sale, car sale etc. Does Malaysia do this?

And, no, we are not fugitives

HIDDEN · « **Reply #1 on:** September 12, 2009, 08:20:32 PM »

[1. Any dress code for Banks?]

Not here in Penang as far as we know - we've been in the banks in shorts, sleeveless tops & sandals

[2. if you deposit a certain amount of cash in your bank account, they want to know where it's come from - like proof of house sale, car sale etc. Does Malaysia do this?]

In Canada they do I think it's after 911 'allies' of the US need to screen for money laundering

BB

HIDDEN · « **Reply #2 on:** September 13, 2009, 01:03:13 AM »

hi,

I have deposited money with Maybank and CIMB and have never been asked where it came from. If I was ever asked I'd say, "I save a lot."

HIDDEN · « **Reply #3 on:** September 13, 2009, 02:24:24 PM »

Thanks folks. That's good news about the dress code. It doesn't seem right getting togged up in this heat.

We've had issues with HSBC in the past in Singapore. Their Premier service there was not very, and we found that other banks were offering far higher interest rates than their "premier" rates. It seemed like a bit of a con so we dumped them. It's all down to individual bank branches though isn't it.

Cash - we will just have to give it a try I guess. Our problem is when we come to sell our house in Phuket. Technically we can legally "repatriate" the funds as we have the pukka paperwork but I suspect they will want us to repatriate the funds to where they came from, which isn't necessarily what we want to do

HIDDEN · « **Reply #4 on:** September 13, 2009, 06:05:39 PM »

HSBC Premier pays pretty poor interest compared to others. I want out but with one account in Penang and one in UK, I haven't figured out how to go about it.

HIDDEN · « **Reply #5 on:** September 13, 2009, 11:45:44 PM »

Quote from: HIDDEN on September 13, 2009, 06:05:39 PM

HSBC Premier pays pretty poor interest compared to others. I want out but with one account in Penang and one in UK, I haven't figured out how to go about it.

Agree...their rates are pretty abysmal.
Regarding getting out, the first step is to set up an account with the bank of your choice, and then start transferring funds

HIDDEN · « **Reply #6 on:** September 14, 2009, 03:19:29 AM »

Dear FCS, thanks but I only want to exit Premier account without paying any charges in both countries. Will I be able to transfer fund via the internet with the normal HSBC current account ? Then the rest of my fund can stay in the other bank.

HIDDEN · « **Reply #7 on:** September 14, 2009, 11:33:21 AM »

The big advantage of HSBC is the convenience isn't it? Maybe we will regret ditching HSBC in Singapore.

HIDDEN · « **Reply #8 on:** September 14, 2009, 12:16:22 PM »

Never too late to open an acc again in Pg

What I like about HSBC Premier is it links all our accounts and that's one convenience.

BB

HIDDEN · « **Reply #9 on:** September 14, 2009, 01:08:39 PM »

Quote from: HIDDEN on September 14, 2009, 03:19:29 AM

Will I be able to transfer fund via the internet with the normal HSBC current account ? Then the rest of my fund can stay in the other bank.

Yes you can. The 'premier account' is a bit of a con as you have to retain a fairly high minimum balance.

You still have full internet access with a standard account

HIDDEN · « **Reply #10 on:** September 14, 2009, 04:56:41 PM »

Quote from: HIDDEN on September 14, 2009, 01:08:39 PM

Yes you can. The 'premier account' is a bit of a con as you have to retain a fairly high minimum balance.

You still have full internet access with a standard account

Ah - but you must consider the fringe benefits! As a frequent traveler to Jakarta, I've drank enough free Bintangs at their HSBC Premier airport lounge to offset any crappy interest rates!

HIDDEN · « **Reply #11 on:** September 14, 2009, 10:35:10 PM »

Quote from: HIDDEN on September 14, 2009, 04:56:41 PM

Ah - but you must consider the fringe benefits! As a frequent traveler to Jakarta, I've drank enough free Bintangs at their HSBC Premier airport lounge to offset any crappy interest rates!

Now you are talking.....I have never been to Jakarta....but I am checking flights as I type this.

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Banks in Malaysia - a couple of questions