Understanding the Table:
The comparison table above helps you see the total cost of your CIMB Bank currency transaction by showing the exchange rates offered by different providers. It also makes it easy to spot potential savings from market-leading FX services compared to bank rates.
To see a full list of available providers, simply enter your details and click ‘Get Rates’.
When receiving an international wire transfer at CIMB Bank, you will typically need to provide specific bank codes to ensure the smooth processing of the transaction. Here are the commonly used bank codes for CIMB Bank:
SWIFT Code: The SWIFT (Society for Worldwide Interbank Financial Telecommunication) code for CIMB Bank is CIBBMYKL. This code is used to identify CIMB Bank as the recipient bank in international wire transfers. You or the sender will need to provide this code to ensure the transfer reaches CIMB Bank correctly.
Bank/Branch Code: CIMB Bank also uses a bank and branch code system for domestic transfers within Malaysia. However, for international wire transfers, the SWIFT code mentioned above is the primary code required. The bank/branch code is not typically necessary for international transfers.
Account Number: In addition to the bank codes, you will need to provide your CIMB Bank account number. This account number ensures that the funds are credited to the correct account within CIMB Bank.
When receiving an international wire transfer, it is crucial to provide accurate and complete information to the sender, including your full name, bank account number, and the CIMB Bank SWIFT code (CIBBMYKL). Additionally, it is recommended to communicate with CIMB Bank directly or visit their website to obtain the most up-to-date and accurate information regarding the bank codes required for receiving international wire transfers.
The CIMB Bank MYR to SGD exchange rate is 0.2949. This is -3.1% compared to the latest MYR-SGD mid-market rate 0.3043.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare Malaysian ringgit (MYR) to Singapore dollar (SGD) rates from different sources before making a conversion.
The above CIMB Bank - Ringgit to Singapore dollar comparison table makes it easy to compare the Total Fees (both variable and fixed) you are being charged by CIMB Bank and other foreign exchange providers against the latest MYR-SGD mid-rate and the possible savings of using various providers.
Looking at the full comparison table the best MYR to SGD exchange rate is 0.3028 from OFX, -0.49% from the mid-market rate 0.3043. The next best rate is 0.3021 from Wise, -0.72% from the mid-rate. Then WorldRemit with 0.2997 is -1.5% from the mid-rate.
Among the banks the CIMB Bank rate is 0.2949 at -3.1% the OCBC Bank rate is 0.2936 at -3.5% and the Maybank rate is 0.2936 at -3.5% compared to the mid-rate 0.3043.
It's important to note that exchange rates also fluctuate frequently due to market conditions. Additionally, banks like CIMB Bank often apply a margin to the exchange rate, resulting in a less favorable rate for customers compared to the mid-market rate. For more competitive rates, you might consider using a specialized currency exchange service or platforms that offer rates closer to the mid-market rate.
View a full list of exchange rates by selecting your Base (from) currency: