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Exchange Rates for RM

Discussion in 'A Singaporean's guide to Living In JB' started by crystal_tiong, Jan 11, 2012.

  1. klsg5800

    klsg5800 Alfrescian Old Timer

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    I did a transfer at INSTAREM 2 days back. I transferred the money using CIMB to their CIMB account. However, website still showing AWAITING PAYMENT. Their support number always goes to voice mail immediately. Online chat also only have auto reply message. Email them and took 1.5 days to reply. They told me they saw a banking transaction with account xxxx and asked to provide banking transaction details. Reply with proof now but the website showing transaction is cancelled due to no payment. No reply until now... this is really bad.
     
  2. enjoylife77

    enjoylife77 Alfrescian Old Timer

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    How will these news affect the RM$?

    Hundreds of thousands could be arrested in crackdown on Malaysia's undocumented migrants
    Malaysian authorities have arrested over 3,300 undocumented workers and 84 employers in the country's latest crackdown
    Activists are concerned about possible abuses of workers' rights, while labor shortages continue to plague business owners
    Stacey Yuen
    6 Hours Ago
    CNBC.com
     
  3. jbnewbie

    jbnewbie Alfrescian Old Timer

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    it is all the better for crime prevention
     
  4. whoami

    whoami Alfrescian (Inf)

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    Bdk int 3.12
     
  5. FHBH12

    FHBH12 Alfrescian Old Timer

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    I hope the amount involved is quite little. I suggest that you give them another 3 working days to resolve, failing which you should raise this issue with MAS: http://www.mas.gov.sg/Feedback.aspx as high number of substantiated complaints may affect licence. Do update us here on the outcome end of this week.

    Just to share that I cut and pasted the transaction number from my DBS to Instarem transfer for ease of identification at Instarem side. My trial only involved SGD $100. I will not move onto this TT platform for bigger amount until this is resolved. Thanks.
     
  6. klsg5800

    klsg5800 Alfrescian Old Timer

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    It is 2k SGD. They have acknowledged fund received and status changed to Payment Received on Sunday. Now. it is showing Transfer Completed (Tuesday) but never mention when it got transfer and ETA of fund received. It is still not in destination account. Will check again tomorrow.

    I did cut and past REM transaction number into CIMB description during transfer but seems like CIMB doesn't put that detail into destination transaction log. I am thinking DBS online transfer will show the details at destination account log. If it is quick and smooth, I would definitely recommend this but seem like is not the case so far....
     
  7. klsg5800

    klsg5800 Alfrescian Old Timer

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    Update: 20170726 (Wednesday morning) - Fund received. :) Exchange rate is good but took few days (and slow customer support). I think transfer small amount is still fine since they don't have minimum amount to be transferred. Also, prefer to use DBS transfer so that they can see the REM transaction ref no.
     
  8. FHBH12

    FHBH12 Alfrescian Old Timer

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    Good to hear that. Thanks!
     
  9. FHBH12

    FHBH12 Alfrescian Old Timer

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  10. ElfieFay

    ElfieFay Alfrescian Old Timer

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    So far.. highest is 3.155 in April 2017..

     
  11. snowbird

    snowbird Alfrescian Old Timer

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    1MDB Misses $603 Million Payment to Abu Dhabi Sovereign Wealth Fund

    According to some:

    "That’s definitely a negative for the ringgit at some point,"
    "We have to wait and see how it develops. If people don’t make an arbitration payment they’ve agreed to, it doesn’t say something positive about the currency or the country or the regulatory framework."


    So take note and watch out for the development.

    https://www.bloomberg.com/news/arti...id-to-have-missed-603-million-payment-to-ipic
     
  12. enjoylife77

    enjoylife77 Alfrescian Old Timer

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    Reuters today's show weakest at RM$3.1580.
     
  13. RedsYNWA

    RedsYNWA Alfrescian Old Timer

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    Great news. Hope for more falls in RM$. MY is now the cheapest in the region for food, as compared to Jakarta and Bangkok.
     
  14. RedsYNWA

    RedsYNWA Alfrescian Old Timer

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    I have used instarem to transfer at 3.14. Takes a bit longer but cant complain with the gd rates. May skip the money changers entirely....
     
  15. enjoylife77

    enjoylife77 Alfrescian Old Timer

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    Our S$ may buy more RM$ but look at the inflated prices of goods and services there. Everything up substantially especially liquor, restaurant meal, foot massage, groceries. Daiso items up RM0.60 to RM$5.90 slightly cheaper vs S$2.00 vs THB60.
     
  16. RedsYNWA

    RedsYNWA Alfrescian Old Timer

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    Yes prices are up, but restaurant food is still cheaper than comparables in Bangkok and Jakarta.

    Overall, prices have not.risen as fast as the currency depreciation, so overall we are still better off than before, esp if RM continues to fall.
     
  17. ElfieFay

    ElfieFay Alfrescian Old Timer

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    Today Wednesday 02/08/2017 at JB.. 3.14
     
  18. enjoylife77

    enjoylife77 Alfrescian Old Timer

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    Agree that restaurant, despite the adjusted prices, are still cheaper than most cities and savings substantial if a family go for lunch and dinner including take-away.
    I like to add that international brands H&M, Uniqlo (savings of 11%), Mark & Spencer (savings of 7%) and the like have not adjusted their prices yet so it is worth the trouble shopping in JB if you buy a lot. Clarks are slightly cheaper only. In fact I find shopping in JB/KL (GST 6%) more value because of the weakened currency than shopping in Bangkok (VAT 7%), Jakarta (GST 10%), Manila (VAT 12%).
     
  19. ElfieFay

    ElfieFay Alfrescian Old Timer

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    Today Friday 11/08/2017 in SG.. 3.146
     
    Last edited: Aug 11, 2017
  20. ElfieFay

    ElfieFay Alfrescian Old Timer

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    Today Saturday 12/08/2017 in SG.. 3.15
     

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