hi all, im a malaysian, not studyin nor working in sg, can i open a bank account in singapore??

This post has been edited by MilesAndMore: Sep 11 2018, 06:19 PM

can.

Yes, you can. Some SG banks have tight account opening requirements. I think OCBC requires a referral from an existing customer to open an account.

This post has been edited by gilabola: May 30 2010, 11:51 PM

Try DBS/POSB. Or you can try with Maybank Singapore. Many Malaysians who do not study or work there have an account with them.

This post has been edited by MilesAndMore: May 30 2010, 11:57 PM

What are the pros and cons ?

Maybank singapore would be easier to transfer money to/out malaysia ?

I recently open bank with DBS/POSB. Took me less than 10 minutes. I don't even stay / work there. My main purpose is for online transactions only because I do not trust Maybank (yet) ^^;

I tried another bank, they say I have to work/resides in Singapore to be eligible. The bank is red in color, can't remember much.

how much is the TT charge to transfer money to malaysia ?

I do not have an account with Maybank Singapore. Therefore, i can't comment much. But i believe it is very easy for Malaysian to open an account with Maybank Singapore. As a matter of fact, i believe you can open a Maybank Singapore through any local Maybank branches here in Malaysia without you physically going to Singapore.



I would have preferred to open an account with DBS/POSB too due to their vast ATM network on the island. DBS also do not charge any fee when we use their Singapore issued ATM/VISA debit card to withdraw money through their ATM in DBS Hong Kong, DBS Taiwan and DBS Indonesia.


It probably is OCBC Bank.

How come there are no DBS Malaysia ?

Can we use DBS in Thailand too ?

DBS Bank wanted to apply for one of the two commercial banking licences which to be awarded this year but dropped out in the last minute. It is reported that they are more interested in venturing into the retail mass banking market and the commercial banking licences won't allow them to do that hence the last minute dropout.

Anyway, the owner of DBS Banking Group, Temasek Holdings is the single largest shareholder of Alliance Bank. Rumor is that they are waiting for Bank Negara to open up the local banking industry to foreign players and they will eventually merge Alliance Bank into DBS Banking Group.


DBS is not in the retail banking in Thailand. They are currently present only in Singapore (obviously), Hong Kong, Taiwan and Indonesia. Another rumor is that PT Bank Danamon Indonesia, one of the largest banks in Indonesia which is also majority owned by DBS Banking Group's parent, Temasek Holdings will eventually be merged into DBS Banking Group too.

This post has been edited by MilesAndMore: Jun 1 2010, 05:29 PM

I believe if you got UOB ATM card, you can withdraw from Malaysia ATM FOC.

Even if you have a UOB Singapore ATM card, you will still be charged for each cash withdrawal at any UOB Malaysia ATM. I am however not too sure what are the charges like though.

As for OCBC, if you have a OCBC/OCBC Al-Amin Malaysia ATM card, you will be charged RM2 each time you withdraw money at any OCBC Singapore/OCBC-NISP Indonesia ATM. Same goes to OCBC Singapore ATM/VISA debit cardholders. When they withdraw money at any OCBC/OCBC Al-Amin Malaysia ATM, they will be charged SGD2/withdrawal.

Can we open over Malaysia Bank here or have to go over Singapore to open account?

Recommend DBS bank for Malaysian to open bank account in Singapore. Easy to open, excellent service (much better than Malaysian banks ), just 10-15 minutes, they even fill in the bank opening form for you. Also instantly eligible for ATM/debit card, internet banking and secure device.

Requirements :

1. Malaysian IC
2. SGD 500 minimum deposit

Benefits:
1. Platinum ATM/VISA debit card, free of charge
2. Will send statement every month to your Malaysian home address, free of charge
3. Can use internet banking anywhere (using a secure device), free of charge
4. Can register your Malaysian HP no for internet banking message, free of charge
5. Online bank fraud refund guarantee.

Cons:
1. No Malaysian bank presence
2. SGD 2 fee per month of your account value falls below SGD 500

This post has been edited by gark: Jun 2 2010, 03:00 PM

How much do they charge for autobilling? can you pay your water and electricity, credit card bills through the website? what about Interbank transfer?


This post has been edited by wodenus: Jun 2 2010, 03:59 PM

How much does it cost to transfer money from Singapore to Malaysia over the internet ?

Are there anybody that is not studying/working in Singapork but purposely crossed the causeway carrying a bunch of Singapore Dollars in cash just to open a bank account there? (thinking of doing this)

What is the purpose of doing it? Is it a means to safe guard your money?

Can anybody share their experience to me. PM etc.

I did and opened an account with DBS bank, carried some SGD1k notes, for easy carrying . Anyway manage to lose some of 'deposit' at Marina Bay Sands. .

My main purpose is for easy credit to my singapore investment, diversify my cash and asset holdings, safeguard my money against sudden devaluation and also just in case this country tells me ' you tak suka, you keluar!'.



Good enough reason?

Appreciate it if you can tell us how best to invest in Singapore for low risk investment .

This post has been edited by jalsrix: Jun 19 2010, 12:10 AM

Just to share I went to SG & open Maybank account years ago. Very easy, passport, IC, SGD 200.00/500.00 (forgot)
The reason open a/c ... to transfer paypal funds, coz last time Malaysia no paypal.