Yes. You may transfer foreign currency to your children studying abroad, as well as friends or relatives travelling or living abroad.
Your TT will only be rejected by the beneficiary bank if the beneficiary details are incorrect. The RM10 bank fee and beneficiary bank/agent charges (if any) are not refundable if your Foreign TT is rejected by the beneficiary bank.
Sorry, you cannot cancel a transaction.
Note: However should there be a cancellation due to refund or repurchase, there may be a potential foreign exchange losses. Maybank shall not be liable for any such losses and that as the remitting party. Customer shall bear the losses.
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