Managing a diversified currency portfolio right here in Malaysia

Earning high interest on short / long-term deposits.

Avoiding double conversions for receivables and remittances from and to, other countries

Potential foreign exchange gain depending on the market condition.

Consolidated monthly statement

No Bank Negara registration ID required for ringgit conversion to foreign currency maintained in Malaysia.

Company Accounts: -

• Export Proceeds Account (EXPA)

  • For exporter only, to retain unlimited export proceeds from the sale of physical goods, without conversion into Ringgit Malaysia, which can be directly used for paying overseas and foreign debits.

• Non-Export Proceeds Account (NEPA)

  • For non-exporter to receive unlimited proceeds from all types of non-export invoices, consultation charges, services fees, royalty fees, dividends, rentals or any investment abroad proceeds.
  • No limit for residents on conversion from Ringgit to foreign currency if domestic borrowing is limited to ONE housing loan and ONE vehicle loan, if not subject to conversion limit of RM 50 million p.a.

Individual Accounts: -

• Education & Employment Account (EDEA)

  • Sources of fund from ringgit conversion or from overseas sources;
  • For parents/individual to manage educational funds in foreign;
  • For resident individual who is employed overseas to retain overseas salaries and investment funds from abroad.
  • For non-resident employed in Malaysia to retain foreign currency salary received from overseas or in Malaysia, inclusive of ringgit conversion.
  • At anyone time, this account outstanding balance cannot exceed USD150,000 in Malaysia, USD150,000 in Labuan Offshore and USD50,000 in overseas banks

• Individual (INDA)

  • For individual to invest in foreign currency either from conversion of ringgit or proceeds from overseas.
  • No limit for residents on conversion from Ringgit to foreign currency if domestic borrowing is limited to ONE housing loan and ONE vehicle loan, if not subject to RM 1,000,000 p.a

For Company Account:-

• Complete application and declaration form & 2 specimen signatures;

• Company/Board resolution, M&A, Cert. Of Incorporation & Form 24 & 49

For Individual Account:-

• Complete application and declaration form & 2 specimen signatures;

• Identity card and/or passport.

• For education purpose, to provide enrolment letter

• For employment, to provide working visa

Conversion of foreign currency to another foreign currency;

Conversion from foreign currency into ringgit account;

Deposit overseas source of funds;

Ringgit conversion to foreign currencies allowed;

Sales/Purchases of Telegraphic Transfer, Demand Draft and Travellers Cheque at competitive rates.

Acceptance of Foreign currency cheques;

Call Deposit Type

• Minimum initial call deposit of

  • USD1,000.00 or its equivalent for Individuals
  • USD5,000.00 or its equivalent for Companies

• Interest rate calculated daily and credited at month end;

• No minimum withdrawal amount required;

Term Deposit

• Similar to Fixed Deposit

• Tenure ranging from 1 week to 12 months

• Minimum initial term deposit requirement

  • USD2,000.00 or its equivalent for Individual
  • USD10,000.00 or its equivalent for Companies

• Interest paid upon maturity

Telegraphic Transfer – USD10.00* subject to change

All foreign currencies transaction is to be in the form of telegraphic transfer, drafts, foreign cheques and/or transfer to/from ringgit account.

No foreign currency cash is allowed;

No limits are applicable for Non-resident account type;