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Meet your financial goals with a comprehensive range of foreign exchange (FOREX) solutions, through the Standard Chartered Foreign Currency Deposits

My flexibile investment choices standard chartered foreign currency deposits x y
My flexibile investment choices standard chartered foreign currency deposits x y

Meet your financial goals with a comprehensive range of foreign exchange (FOREX) solutions, through the Standard Chartered Foreign Currency Deposits

Diversify your investment portfolio

Take advantage of our wide range of foreign currencies and flexible investment choices between Foreign Currency Savings Account and Foreign Currency Fixed Deposit Account to diversify your investment portfolio.

Features

Market Views on-the-go

Tap into our global network and resource to analyse financial markets around the world and identify investment opportunities.

FAQs

  • The process is the same as opening a normal Ringgit Malaysia savings or fixed deposits account at your nearest branch with your National Registration Identity Card and/or Passport. However, in order to enjoy Foreign Currency Fixed Deposits rate, you must first open a Foreign Currency Savings Account.

  • No, there are no restrictions. Residents and non-residents are free to open Foreign Currency Deposits for any purpose.

  • A resident is classified as:

    • Malaysian citizens, excluding those who hold a foreign permanent resident and reside abroad
    • Non-citizens of Malaysia who have obtained permanent resident status and reside in Malaysia

    A non-resident is classified as:

    • Any person other than a resident
    • Malaysian citizens with foreign permanent resident and who reside abroad
    • Save on foreign exchange losses that would arise from the exchange conversion process
    • Get preferential FOREX rates from our dedicated Retail Treasury Desk Dealers
    • Earn attractive interest rates on your deposits
    • Flexible placement tenures for your funds
  • Foreign Currency Deposits interest rates are dependent on market rates and could fluctuate from day to day. Please check with your nearest branch or contact your relationship manager for the latest Foreign Currency Deposits interest rate.

  • Calculation of the daily interest rate on Foreign Currency Deposits is as follows:

    (Available balance x interest rate)/365

  • A minimum deposits of USD 1,000 or its equivalent is required to open a Foreign Currency Savings Account or a Foreign Currency Fixed Deposits Account.

  • No, there are no restrictions to open a joint Foreign Currency Deposits following the latest liberalisation by Bank Negara Malaysia effective 1 April 2007.

  • You may withdraw either by converting to a Ringgit Malaysia account, telegraphic transfers or bank drafts.

  • There is no charge for opening a Foreign Currency Deposits. However, a monthly service charge of USD10 (not including GST) or its equivalent will apply to Foreign Currency Savings Account whenever the monthly average credit balance falls below USD 1,000 or its equivalent for all currencies.

  • Yes, a penalty will be charged for any early upliftment of Foreign Currency Fixed Deposits Account.
    No partial upliftment is allowed. Any early upliftment is subjected to penalty charges as below:

    Total penalty = interest accrued + handling fee + replacement cost

    Note:
    Handling fee is USD50 (or equivalent)

    Replacement cost = (current market day rate – contract rate) x remaining days to maturity

    The replacement cost can be zero if the current market rate at the date of the premature upliftment is less than the deposits contract rate.

Terms and conditions

Member PIDM

* Protected by PIDM up to RM 250,000 for each depositor


* Click here for PIDM’s DIS Brochure