Jump to content
DrDougster

Receiving MYR

Recommended Posts

GBP, USD and Euros are all pretty straightforward and we've discussed at length.

Has anyone got advice on how to receive Malaysian Ringgit? There are quite a lot of limitations on transfers in/from Malaysia to deal with, but does anyone know of a multi currency account similar to Wise or Revolut that accepts MYR transfers? Or, as I suspect, is this going to need a more traditional multi currency account from somewhere like HSBC?

Share this post


Link to post
Share on other sites
On 25/11/2022 at 10:23, DrDougster said:

GBP, USD and Euros are all pretty straightforward and we've discussed at length.

Has anyone got advice on how to receive Malaysian Ringgit? There are quite a lot of limitations on transfers in/from Malaysia to deal with, but does anyone know of a multi currency account similar to Wise or Revolut that accepts MYR transfers? Or, as I suspect, is this going to need a more traditional multi currency account from somewhere like HSBC?

Wise don't offer an MYR denominated account but you can still receive MYR transfers and you can make payments in MYR.


Chartered Accountant (England & Wales); Registered Tax Agent & Fellow of The Tax Institute (Australia) www.kbfayers.com

Share this post


Link to post
Share on other sites
7 hours ago, Ken said:

Wise don't offer an MYR denominated account but you can still receive MYR transfers and you can make payments in MYR.

Which banking details would someone in Malaysia use to send money to your Wise account? Would it appear in your MYR denominated jar (probably not the correct term) in Wise? I can't see any details for the MYR jar. Disclaimer - I'm a doctor and as such know nothing about finance!

Share this post


Link to post
Share on other sites

Give wise a call, I have found them to be very helpful in the past. 


So many wineries ......so little time :yes:

Share this post


Link to post
Share on other sites
10 hours ago, DrDougster said:

Which banking details would someone in Malaysia use to send money to your Wise account? Would it appear in your MYR denominated jar (probably not the correct term) in Wise? I can't see any details for the MYR jar. Disclaimer - I'm a doctor and as such know nothing about finance!

As I said Wise don't offer a MYR denominated account (that's only for GBP,; AUD; EUR; NZD; USD; SGD; RON; CAD; HUF and TRY) but it is one of 52 currencies you can hold and convert - but that only allows you to transfer from an account that it is in your name. They say that you can receive money directly into your account (form third parties) in Malaysian Ringgit but that's only available for residents residing in Malaysia.


Chartered Accountant (England & Wales); Registered Tax Agent & Fellow of The Tax Institute (Australia) www.kbfayers.com

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×