Also known as the interbank rate, the mid-market rate is the price on the halfway point between a bid and offer spread in a financial market. This means that it’s the true exchange rate before having a margin added, a common practice among most banks and money transfer services. You should always compare the rate you’re offered against the mid-market rate to see if it’s a good deal or not. The calculator below will give you an idea of the mid-market rate.1
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Maybank exchange rates
See how Maybank's exchange rates stack up for your next international money transfer.
If you need to transfer money overseas or receive an overseas payment, the competitiveness of the exchange rate you’re offered can make a big difference to the amount of money that ends up with you or your recipient at the end of the day. However, the exchange rates are everchanging and will also vary widely from one money transfer service to another.
This guide shows the typical foreign currency exchange rates at Maybank, and how they compare to some other options.
What are Maybank’s exchange rates like?
Take a look at the foreign exchange rates Maybank is offering in the table below. This table is accurate as of 27 October 2020.
When looking at the table, the buying rate is used when you sell a foreign currency to Maybank and converted to Singapore dollars in exchange. The selling rate, on the other hand, is when Maybank buys your Singapore dollars and convert it into the foreign currency you need. This is the exchange rate you’ll need to pay if you want to send local currency overseas.
|Per Unit of Foreign Currency||Country||Selling TT/OD||Buying TT||Buying OD|
|NEW ZEALAND DOLLAR||NZD||0.9278||0.8921||0.8866|
|Per 100 Units of Foreign Currency||Country||Selling TT/OD||Buying TT||Buying OD|
|HONG KONG DOLLAR||HKD||17.9000||17.3700||17.1700|
Sending money with Maybank: What to know
What we like
- Instant funds transfer to Brunei, Malaysia and the Philippines. Maybank’s RegionLink service provides the convenience of transferring funds to accounts with Maybank in Brunei, Malaysia and the Philippines via Maybank Online Banking instantly at discounted rates.
- Wide network. You can send money to virtually anywhere in the world with Maybank’s wide network of correspondent banks.
What to watch out for
- Not the best rates. Maybank often adds a larger margin to the exchange rate than specialist money transfer services typically do.
- Fees apply. Although Maybank’s overseas transfer fees may be lower than some other banks, it is still high compared to most specialist transfer services. Extra fees such as agent charges can also apply in different circumstances.
How do Maybank’s exchange rates compare?
Maybank can be a great money transfer option if you make transfers to Brunei, Malaysia and the Philippines frequently. But if you need to transfer to other countries, other specialist money transfer companies can typically offer you better exchange rates than Maybank.
The table below shows a list of money transfer service providers and gives an indication of their exchange rates and fees.
The “Rate” and “Amount Received” displayed are indicative rates that have been supplied by each brand or gathered by Finder.
Exchange rates are volatile and change often. As a result, the exchange rate listed on Finder may vary to the actual exchange rate quoted for the brand. Please confirm the actual exchange rate and mention “Finder” before you commit to a brand.
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