So last year, I made this video about the three best ways to exchange your Singapore dollars to Malaysian Ringgit. But you know what is different now? I’ve been living in Malaysia for the past 10 months, and I found that even though credit cards are widely accepted, at least where I stay, most of the time I still have to rely on cashless payment codes from e-wallets or even cash. And I’m sure for those of you who are watching this video and those who regularly go to Johor Bahru for your weekend escapes, be it for shopping, dining, massage, and whatever, you are looking for the best ways at the best rate to exchange your Singapore dollars to Malaysian Ringgit. I visited so many social media channels; all they talk about is YouTrip, Trust, even Wise. But today, I'm not going to talk about these apps because all these have been covered by a lot of other people already. I’ll talk about those apps that are less covered by other people. But of course, I'm not saying they're not good. It’s just that if you want to sign up for YouTrip and Trust, I still have the referral codes, which I'll put in the description. But the fact is, I'm not using YouTrip or Trust for my Malaysia spending right now. Also, the fact that YouTrip and Trust cannot hold Malaysian currency inside them makes it different from what I’m going to discuss today. But to be clear, even though you cannot hold Malaysian Ringgit in YouTrip or Trust, you can still use this card at merchants which accept credit or debit cards because it will just automatically convert your Singapore dollar to Malaysian Ringgit to pay at the same day’s exchange rate. I'm not saying you cannot use it; it’s just that it’s not favorable. And if you want to learn about more credit card strategies and the best way to optimize your travel spending, be it in Singapore or overseas, then join us with over 16,000 members in the HoneyMoneySG Telegram group. Let’s start with the first contender, which is IChange. I briefly introduced IChange last year when they had one of the best exchange rates for Singapore dollars to Malaysian Ringgit, especially for digital currency exchange. In fact, if you compare IChange digital currency exchange rates to Google's spot rate, it is fairly close; there isn’t much difference, and it is a very fast conversion, almost instant. You just put in the amount that you want to convert, and it will convert within the next few seconds. And the good thing about IChange Wallet is that you can store Malaysian currency. So if you expect to hold a lot of Malaysian currency, then you can just convert one shot all your Singapore dollars and hold it in Malaysian Ringgit. Of course, whether that’s the right move or not, I’m not here to debate. But another good thing about IChange is that it comes with its own Mastercard, which means that you can use this Mastercard debit card, whether physically or you can add it to your Apple Pay wallet and then use it contactlessly. This card can also be added to Google Pay, so for those Android users, good news for you. But one downside of this card compared to last year’s review is that this card can no longer be used to top up Touch ‘n Go e-wallet or, in fact, any other kind of e-wallet apps in Malaysia like Grab. So in order to use the IChange Wallet credit, you really have to use the Mastercard and pay at merchants, and that is assuming your merchant accepts Mastercard. So it’s much more limited usage compared to in the past using the Touch ‘n Go e-wallet credit. And if you're a new user to IChange, you may use my referral code CHONG268 to get $5 of wallet credit when you fulfill the requirements of IChange. And you know what other kind of good welcome rewards are there? It’s a sponsor for today! If you're looking for the best trading platform for US options, here are three good reasons to choose Webull Singapore: Number one, low commissions. 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And I want to be very clear here, I’m not going to talk about the Amaze linked credit card transaction because this is something different. It’s about the Amaze Wallet conversion from Singapore dollars to Malaysian Ringgit. So I know that a lot of you are already using the Instarem Amaze card, but what you may not know is that Amaze has very good conversion rates from Singapore dollars to Malaysian Ringgit in the Instarem app itself, and it is very close to the spot rate even during weekends. I’ve tested this multiple times, and Instarem Amaze is one of those few multi-currency wallets that can allow you to hold Malaysian Ringgit. So assuming you want to store a lot of Malaysian Ringgit, just convert it via Singapore dollars to Malaysian Ringgit in the Amaze app. And the good thing about this Malaysian Ringgit currency is that it can be used to top up e-wallets like Touch ‘n Go, so quite different from IChange, right? Even though both have very good close-to-spot FX exchange rates, but Amaze Wallet allows you to top up e-wallets, so that’s a main difference compared to IChange already. Then for the card, I think most of you already know you can save it under your Google Pay wallet but not Apple Pay wallet. So for Apple Pay users, you can use the physical card; just bring it around with you. For Android people, you can either use the physical card or pay through your Google Pay on your mobile phone; that works as well. But I want to remind you of the recent development of Amaze because right now, Amaze is going to charge you for topping up the Amaze Wallet even, so there’s going to be top-up fees whether you top up from credit card or debit card. So best to just pay out the top-up Amaze Wallet if you want to avoid all the fees together. And you can use my Instarem Amaze referral link to sign up and apply the code to get some rewards as a new user for Amaze. Now let’s come to the final contender, and that is through CIMB Singapore dollars to Malaysian Ringgit bank transfer. Now you know CIMB is a Malaysian bank, but they do have a Singaporean bank branch as well, CIMB SG, and I’m sure you have seen some of these credit cards from CIMB SG. But today I will talk about the bank account, and if you look at the CIMB exchange rates between Singapore dollars to Malaysian Ringgit, it is really quite competitive. There’s just a very small spread, and you know it’s a bank-to-bank transfer, so it’s considered much safer than any other third-party apps if you have more faith in banks. And from my experience, it is instant transfer as well, so you can do it within the CIMB mobile app. But the big question is, how do you get the Malaysian bank account, right? In fact, you can sign up for both the CIMB Singapore account and CIMB Malaysia account in one appointment. So what you have to do is to book a physical appointment via the CIMB website and click on askEva. There will be some options for you to book a physical appointment because you have to be physically present to present your IDs and documents in order to set up your account in both countries. Then on your appointment date, bring along your NRIC and passport and whatever documents to the Rafols Place CIMB branch during your time slot. Then once you have completed all the administrative forms, wait up to 2 weeks for the CIMB Malaysia account to be set up. Okay, and the thing is you can only open the CIMB Malaysia account from the Singaporean CIMB bank branch. You don’t go to Johor, Malaysia, and ask to open because they will not be able to accept your application without a valid work permit or resident visa. After your account is fully set up and activated, all you need to do is to download the CIMB mobile app, and from the mobile app itself, you can already do instant transfers once both your CIMB SG and CIMB MY accounts have been linked up. And now with a Malaysian bank account, you just have to convert your Singapore dollars to Malaysian Ringgit, and then with your CIMB mobile app, you can pay via DuitNow to all these cashless QR merchants. You don’t have to top up TNG Wallet anymore; you can just use the CIMB mobile to pay directly to Malaysian merchants with the QR code. So quite powerful, right? CIMB Singapore and Malaysia really offer very good deals to Singaporeans to open a Malaysian bank account without a work permit or residence visa, so that’s good news for some of you. Wrapping up all three of my ideas: Number one, IChange Wallet, but you have to use the Mastercard. Then number two is Instarem Amaze, where you use the Amaze Wallet and convert Singapore dollars to Malaysian Ringgit, but make sure you top up through PayNow instead of card; otherwise, there will be fees. Then thirdly, there’s CIMB Singapore dollars to Malaysian Ringgit transfer, and just make an appointment to go to the bank branch to open your CIMB Malaysia account. And now you can just use your Malaysian Ringgit freely within the country. But take note, all these strategies are really for Malaysia only. If you go to other countries, I’m not sure if these strategies work, but if you really want to know the best strategies for your overseas travel, like you want to go for a two-week holiday, one-week holiday, then I can show you how I will plan and strategize my travel strategies right here.