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There will be no telegraphic transfer (TT) charges for the remittance. However, the beneficiary bank or intermediary agent may deduct a fee from the transferred amount, which may vary depending on the destination country.

Cancellation and/or amendments cannot be made once a transaction has been submitted or confirmed. However, in the event of a valid reason for cancellation, we shall not be liable for any potential foreign exchange losses incurred.

All potential losses shall be borne by the customer.

A remittance confirmation advice will be issued and can be downloaded from the KenangaFX platform.

There is no minimum or maximum transaction amount. However, the applicable maximum limit is subject to FEP Notice 3 on Investment in Foreign Currency Assets as well as the daily maximum transfer limit of your personal or corporate bank account.

Foreign Exchange Policy Notices(FEP) rules are applied because your transactions involve foreign currency dealings, which are regulated by the central bank to ensure compliance with national foreign exchange policies. These rules are designed to monitor cross-border fund flows, manage financial risks, and ensure that all transactions are conducted in accordance with applicable regulations.

For Resident Individuals, Sole Proprietors
If you have any domestic Ringgit borrowing, your annual investment in foreign currency assets (including investments made through other licensed onshore banks) will be capped at RM1 million per calendar year. Conversely, if you do not have any domestic Ringgit borrowing, there is no limit on your annual investment in foreign currency assets.

For Resident Entities
If you have any domestic Ringgit borrowing, your annual investment in foreign currency assets (including investments made through other licensed onshore banks) will be capped at RM50 million per calendar year. This includes any resident entity within the same group of entities with a parent-subsidiary relationship that has Ringgit borrowing. Conversely, if you do not have any domestic Ringgit borrowing, there is no limit on your annual investment in foreign currency assets.

KenangaFX account accept both online and offline payment. Online banking like FPX is available while offline payment like IBG,RENTAS,DUITNOW, funds from Client Trust Account (CTA) and funds from deposits are available.

All foreign fund remittances are processed via SWIFT using straight-through processing. However, the actual time for the beneficiary or recipient to receive the funds depends on the respective receiving or intermediary bank involved.

Please contact our Customer Care Service Centre at 603 - 2172 2904 or email us at [email protected]