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FAQ
Questions Answered |
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| 1. Why do I need to submit identification documents for remittance and money exchange? |
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Bank Negara Malaysia's (Central Bank of Malaysia) regulations including Anti-Money Laundering regulations require that all customers must be identified face to face at the point of registration / transaction. The following original identity documents should be made available:
- International Passport for foreign nationals
- Valid Malaysian Government Work Permit
- National Identity Card for Malaysians
- Valid employer issued identification card
In addition, customers have to declare the source of their income in Malaysia.
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| 2. What information is required to do a remittance? |
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For Remittance purposes, the following information is required:
- Full name of beneficiary
- Beneficiary's Contact Details
- Beneficiary's Current home address
- Beneficiary's Bank and Account Number
- Beneficiary's Bank Branch location
- Beneficiary's IFSC Code (India)
- Sender's full name
- Sender's Contact Details
- Sender's Current Home Address
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| 3. In which currencies can I remit? |
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At the moment you can send your remittance in Indonesian Rupiah to Indonesia and in Indian Rupees to India. The transaction must be paid for in Malaysian ringgit. |
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| 4. How much money am I allowed to remit? |
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The current rules are as follows:
- For individuals, not more than RM50,000 equivalent in foreign currency per day.
- For business transactions not more than RM200,000 equivalent in foreign currency per day.
- For business remittances to India, the maximum daily remittance permitted by the Indian Authorities is not more than INR 15,00,000 (Rupees Fifteen Lakh only) per day.
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| 5. Do I get a receipt for my money exchange and remittance transactions? |
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| Yes for every successful transaction, you will be issued with a KL Remit Exchange receipt. Remember to ask for a receipt. |
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| 6. Can I cancel a transaction? |
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Cancellation can only be done if the transaction has not been paid or credited into the recipient/beneficiary�s account. You may do so by contacting our specific branch where the transaction was done for immediate cancellation request. |
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| 7. How can I contact Customer Service or file in a complaint? |
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- Contact our branch
- Call us 03 - 7958 2005 / 012-9892005 / 017-2072005
- Email: enquiry@klremitexchange.com
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