I have to thank LiewCF for the tip on where to bank in our US cheques and get the best rate. Previously, I used Maybank and it was so expensive. Each cheque, regardless of the amount, I have to pay more than RM65 per cheque. I finally opened the account with CIMB in February and notice that CIMB really charge me RM10 for the bank charges and RM0.15 for the stamp they use to mail the bank in slip.
However, I am not sure if CIMB foreign exchange rate is the best because according to my husband who is an accountant, some banks give higher foreign exchange rate if the amount is huge. Anyway, for all these small amounts, I don’t get to negotiate much so I am happy with the RM10 charge instead of the exhorbitant charges from Maybank.
Can you share what is the rate our banks in Malaysia charge? Not that I want to open another account because I like CIMB as they are opened till late on Saturdays and even Sundays.