It is used to offset or hedge against future rate exposure on receivables or payables in other currencies. Currency Options A Currency Option Contract provides the buyer holder with the right not obligation to buy or sell currency at a predetermined rate strike price on a specific future date.
The buyer of the Option pays an upfront fee or premium to the seller in exchange for the right featured in the Option Contract. This instrument is generally used to hedge and manage uncertain future currencies exposure. To the extent that customers continue to enter into FX transactions with Maybank, it will be on the basis that they have read and understood the following. For more details, contact us at the following numbers: 03 Do I need to be a Maybank customer?
The interest rate for MFCA placement is being revised daily whereas under normal placement, the rates are revised from time to time. What are the charges for a Master Foreign Currency Account? There are no charges for opening an account and no yearly charges. But a service charge will be levied for each currency transaction the amount varies for each foreign currency.
Withdrawals can only be made through the following methods: Telegraphic transfers Conversion to Ringgit account Are there any restrictions if I want to open a joint Master Foreign Currency Account? A resident individual is allowed to open and maintain a foreign currency account with a licensed onshore bank or a non-resident financial institution, individually or jointly with another resident individual or jointly with a non-resident individual who is his immediate family member How can I claim for free PA insurance?
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