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Funds Transfer Malaysia - Ireland

  • 13-03-2019 9:33pm
    #1
    Bold Abdu
    Registered Users, Registered Users 2 Posts: 213 ✭✭


    A colleague has RM100,000 (c€20,000) sitting in a Citibank account in Malaysia. They want to get it back to Ireland to their AIB account.


    What would be the best way to get these funds back? I suppose the question is where's the best FX rate available in this situation?


    There are no tax issues i.e remittance basis etc. is not relevant.


Comments

  • #2
    ballyharpat
    Registered Users, Registered Users 2 Posts: 1,833 ✭✭✭ballyharpat


    currencyfair is what i use for large sums.


  • #3
    Bold Abdu
    Registered Users, Registered Users 2 Posts: 213 ✭✭Bold Abdu


    Thanks for that but I don't think they deal with MYR.


  • #4
    iknorr
    Registered Users, Registered Users 2 Posts: 866 ✭✭✭iknorr


    Correct. Tried to do it myself recently, both ways. They dont transfer MYR to EUR.
    Ring both banks, ask for the best rates. Its going to "cost a few hundred".

    THe other issues its getting permission to transfer it out. Is the account in his own name?


  • #5
    meijin
    Registered Users, Registered Users 2 Posts: 1,300 ✭✭✭meijin


    transferwise?

    https://transferwise.com/ie/currency-converter/myr-to-eur-rate


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