FAQ
Questions Answered
 
 
1. Why do I need to submit identification documents for remittance and money exchange?
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.
 
2. What information is required to do a remittance?
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
 
3. In which currencies can I remit?
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.
 
4. How much money am I allowed to remit?
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.
 
5. Do I get a receipt for my money exchange and remittance transactions?
Yes for every successful transaction, you will be issued with a KL Remit Exchange receipt. Remember to ask for a receipt.
 
6. Can I cancel a transaction?
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.
 
7. How can I contact Customer Service or file in a complaint?
You may contact us at our branches or you can email us.
 
 
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