We offer the ability for our clients in Southeast Asia to send funds via a local bank transfer in the following countries and currencies; Malaysia (MYR), Indonesia (IDR), Thailand (THB) and Vietnam (VND).
While there is no fee when depositing using this feature, similar to an international bank wire, the rate at which the funds are converted isn’t the spot rate so you will still have to pay for the conversion of funds according to your account base currency, however, the good thing is that you will have the ability to fund via local currency.
The fees for conversion range from 2.5% - 3% (e.g. you send MYR and it is converted to USD). It is like sending money to a friend domestically rather than internationally and gives our clients more flexibility in how they fund their account rather than the 3-5% offered by a typical retail bank. The best part is the payment should be instantly credited to your account rather than the usual 2-3 business days for an international bank transfer.
How does it work? The processor will ask you to log in to your internet banking via the Fusion Hub. Then just follow the prompts.
Let me know if you have questions.