[Official Thread] Ringgit Exchange Rate - Part 2

[hwsstx]

Thanks. Mine is the blue screen one.
First time use quite kancheong.
Pay22rm loss as a lesson.

So you pressed Proceed With Conversion?

 

[rizhal]

Any experts can comment what i did wrong?

Read trust card can withdraw money with no fees and today test withdraw from maybank atm rm 400 and kena charged sgd 120.80 making the rate at super lousy at 3.31.

Then i immediately test using maybank carf withdraw 100rm and got charged only 28.96 which is same as money changer today at 3.453.

Basically lost 22 rm doing this test from trust and with such low amount withdrawn.

Is it must use certain bank atm only?

I don’t have Trust card.

Does the App offers any option to pre-convert and you have a MYR Balance in the App? And direct withdraw from MY

 

[Kain999]

So you pressed Proceed With Conversion?

Ya.
I just click on all the yes and proceed. Didnt know cannot choose the conversion.

 

[Kain999]

I don’t have Trust card.

Does the App offers any option to pre-convert and you have a MYR Balance in the App? And direct withdraw from MY

Dun have. It is basically a savings account or credit/debit card.

 

[aLeX84]

Ya.
I just click on all the yes and proceed. Didnt know cannot choose the conversion.

You can choose the conversion.. but you see the rates that Maybank offering you should know its a big red flag right? Now 1 MYR is only worth 0.28 - 0.295 SGD.. but they want to exchange at ~0.30 SGD for 1 MYR, means they want to chop ur carrot head right?? Ok lah at least now you know, only wasted few SGD for this lesson.

Next time pls remember you can choose to withdraw small amounts first to test system first, no need to withdraw large amounts at one go. If you not sure can also cancel transaction and phone a friend

 

[Kain999]

You can choose the conversion.. but you see the rates that Maybank offering you should know its a big red flag right? Now 1 MYR is only worth 0.28 - 0.295 SGD.. but they want to exchange at ~0.30 SGD for 1 MYR, means they want to chop ur carrot head right?? Ok lah at least now you know, only wasted few SGD for this lesson.

Next time pls remember you can choose to withdraw small amounts first to test system first, no need to withdraw large amounts at one go. If you not sure can also cancel transaction and phone a friend

Ya. Lesson learnt. I was only reading the other thread comparing youtrip, revolut and trust and followed
the comments to try withdrawing using Trust from ATM.
Only after the error i found the rates so low then i searched and discovered this thread and realise cannot choose conversion.
But ok la, didnt withdraw a lot, basically is practical test so take as learning fee.

 

[vaxvms]

3.45


https://cashchanger.co/singapore/mc/jc-global-bugis/607

 

[rizhal]

Wise
S$100 = MYR 342.52

 

[vaxvms]

Wise
S$100 = MYR 342.52

they really wiser haha

 

[rizhal]

they really wiser haha

Sometime high sometime low, sharing to get best rate

 

[vaxvms]

3.45 on wed


https://cashchanger.co/singapore/mc/eng-lok-money-changer/107

 

[rizhal]

3.45 on wed


https://cashchanger.co/singapore/mc/eng-lok-money-changer/107

Wise is worse now
342.92

 

[aLeX84]

Ya. Lesson learnt. I was only reading the other thread comparing youtrip, revolut and trust and followed
the comments to try withdrawing using Trust from ATM.
Only after the error i found the rates so low then i searched and discovered this thread and realise cannot choose conversion.
But ok la, didnt withdraw a lot, basically is practical test so take as learning fee.

Maybank is actually one of the better ATMs to withdraw in MY. Some other ATMs like Islamic Bank and CIMB will jitao just spit out your card if you never choose their conversion rate. Too bad you kena chop on your first attempt with them haha.

 

[Goodintentions]

Just want to chime in, I have SG CIMB account with ATM card, and I just withdraw from MY CIMB ATM as per normal and there isn't all the conversion rate screen whatsoever to deal with. I get the same rate as the money changer. Just have to remember to activate the card for overseas ATM use. Can call the hotline or use the website to do so.

UOB and OCBC on the other hand have lousier rates even though they said they don't charge commission fees to withdraw cash from their ATMs in MY.

 

[vaxvms]

3.45 on friday


https://cashchanger.co/singapore/mc/fairfield-exchange/497

 

[decibel.]

Just want to chime in, I have SG CIMB account with ATM card, and I just withdraw from MY CIMB ATM as per normal and there isn't all the conversion rate screen whatsoever to deal with. I get the same rate as the money changer. Just have to remember to activate the card for overseas ATM use. Can call the hotline or use the website to do so.

UOB and OCBC on the other hand have lousier rates even though they said they don't charge commission fees to withdraw cash from their ATMs in MY.

What's the CIMB rate?

 

[decibel.]

Anyone knows how come youtrip exchange rate is 3.42 which differs from the Mastercard calculator of 3.47? Exchanged 300 ringgit is there a criteria to get better rate?

 

[xsoldix]

Anyone knows how come youtrip exchange rate is 3.42 which differs from the Mastercard calculator of 3.47? Exchanged 300 ringgit is there a criteria to get better rate?

this is known as fx spread. that's how these company earn.

compare across providers and see which is better lo..

 

[decibel.]

this is known as fx spread. that's how these company earn.

compare across providers and see which is better lo..

But I thought youtrip rate is following Mastercard realtime?

 

[decibel.]

you need to do conversion for ringgit during office hours, ie 9am till 4pm I think, mon to fri, then you can get very good rate. Once outside office hours, rate will be bad.

https://www.cimbclicks.com.sg/sgd-to-myr

I did it Fri 2.45pm, google was 3.47 and Mastercard shows 3.466 but when exchange becomes 3.42 like that might as well exchange cash at money exchange lo