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 transaction type, 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 best USD to MYR exchange rate is our partner deal rate of 4.1999 from OFX . This is -0.5% compared to the mid-market rate 4.2210.
The standard OFX USD-MYR rate is 4.0629, -3.7% from the mid-rate. Visit OFX here to secure the better rate.
As exchange rates can vary significantly between banks and also between currency exchange providers, it's therefore important to carefully compare US dollar (USD) to Malaysian ringgit (MYR) rates from different sources before making a conversion.
The above CIMB Bank - Dollar to Ringgit 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 USD-MYR mid-rate and the possible savings of using various providers.
Looking at the full USD to MYR - Send Money comparison table the provider with the best USD to MYR exchange rate is OFX at 4.1999, -0.5% from the latest mid-market rate 4.2210.
The next best is XE at 4.1957, -0.6% from the mid-rate.
Then Wise at 4.1936, which is -0.65% from the mid-rate.
The Western Union rate is 4.1788 which is -1% from the mid-rate.
Among the banks the Chase Bank rate is 3.8307 at -9.2% the Wells Fargo Bank rate is 3.8054 at -9.8% and the Citibank rate is 3.9996 at -5.2% compared to the mid-rate 4.2210.
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:
