IBQ TT

Recently the bank I am dealing with at Qatar, IBQ has a facelift on their banking account but not only that there are changes to their services too.

Last time transferring our salary would only cost QR15 and the rest is based on currency exchange rate which normally we will make a lost at 20% rate.. :( sucks right... so don't think I earn a lot OK?

But I notice something yesterday on their online banking site that now they have an option of us to choose MYR which I assume that our salary are directly convert from QR to MYR. Unlike last time there isn't MYR option and the safest choice is to choose USD because QR to USD are fixed at 3.65 and from there USD is converted to MYR based on Malaysia market rate.

And so not only the MYR option is available, I also saw that the currency rate stated in the website is 1 to 1 but I am not sure what is that rate applicable to. It is either for TT or cash exchange but I hope it is online TT so that we won't make a lost during currency conversion. But my worries is whether this rate is acknowledge by Malaysia bank as at this rate they won't make a profit which I doubt it will happen in banking industry.

Well, somehow we got to try it sometime and see how it is.. Adios