I tried to open SG account - initially was planning on DBS Bank, however they outright rejected due to me not having a work permit (more than 1 branch)

OCBC also rejected, but when I mentioned I was interested in buying Unit Trusts they quickly changed their tone (although not interesting, 5% sales charge!!). So I went into another branch and mentioned I wanted to open a OCBC Securities trading account, then they gave me a savings account / debit card on the spot - took less than 30 minutes

If balance drops below 1k, 2sgd/month charge. Otherwise free

(BTW, not Malaysian - holding European passport)

This post has been edited by rjb123: Aug 9 2014, 10:37 PM

Used to be that SG did not question or tax export of funds -- still so?

which bank will be easier tp opeen account in sg? DBS or OCBC?

Went SG last weekend. DBS Toa Payoh, POSB Toa Payoh & DBS AMK Hub rejected outright. No pass no talk.

Went to Citibank & the response is $20k SGD to open an account. They mentioned only ONE branch can do. Forgot what name already. X square.

Just open one for my wife last month. Hai getting harder now. I also dare not give specific tip sked to spoil market.

The tips for opening with no pass non resident is you must be perfectly prepared before even step in the bank. Read from website of your target bank, contact customer service to find out requirements and prepare all documents then go the bank.

This tips only for kecik molek ppl like us. Rich guys anytime can open private accounts... millions of sgd one la.

Upper class but not that rich can open via international banks such as hsbc. Can say the rates are suitable for 5 digit sgd and above.

Good luck.

Every branch I visited initially rejected me (European, living in Malaysia) until I expressed interest in Unit Trust to OCBC. Then suddenly this became a "good reason" to open an account to them.

So I went along to another branch and started with "I want to open an OCBC securities account" (didn't want to buy UT through OCBC, high charges) and no problem, account opened and online banking, VISA debit card within 30 minutes

Haven't actually used the OCBC securities account yet

Edit : Ooops, didn't realise I posted above in this thread already ..

This post has been edited by rjb123: Dec 31 2014, 02:34 PM

Citi IPB capital square branch i believe. Did you managed to open with them?

actually need a Singapore bank a/c to credit my SREIT dividend(been losing too much money to CIMB admin fees lol $10/quarter).so it seems if you say you are interested in opening a Securities A/c,they will allow to open a bank a/c?
any minimum deposit?

i m interested in the subject...

sgd10 for sgreit div, cimb... meaning u r on cimb itrade sgd nominee account, right?

i never asked the question but i think for nominee acc, there will be a sgd10 charge for every div if u opt for cash,whether their trust acc or yr own sg bank acc. do u know otherwise?

i wud think u can avoid paying the sgd10 only if u have own direct trading acc n forwarding address in sg.

of course, annother scenario is opting for reinvestment if available - this one no charge but comes with odd lot issue...

pls share if u know more as some point in time, i will have to open sg bank acc too. thanks.

yes im on cimb itrade sgd nominee a/c.i once asked Hong Leong Investment how much is their charge and its SGD6 + RM$10(not much of a difference)
yes you are correct,nominee a/c there will be sgd10 charge
so i am looking at the possibility of opening my own bank a/c in singapore,as well as a direct trading a/c and transfer over my current shares with CIMB to my own direct trading a/c(one time transfer fee applicable though $10.70 per 1000 shares but still better than $40 go to CIMB every year)

currently looking whether its possible to open an OCBC account.i went to Singapore few months back,only enquired at Standard Chartered but not OCBC

This post has been edited by ryan18: Jan 4 2015, 04:36 PM

thanks for info.

pls share more when u finally get round to it.

i may want to do the same in a year's time or 2.

the difficulty may be the sg bank and/or broker will need a local mailing and tel no. as i doubt they will bother to contact u if outside sg. the question then is email n online access be adequate?

This post has been edited by AVFAN: Jan 4 2015, 08:44 PM

Broker confirm no need. I still get mail from SGX and my broker. SG bank so far my wife and mine account use Malaysian address. We do online transfer etc.

I bet you are not a rich man. No free lunch in this world- no singaporean will fly to KL meet you and give you your bank account.

So you need to walk in to a Singaporean branch to open account.

Hi guys,

I am planning to visit Singapore and open a bank account there. I am not working there nor studying there.

I heard that their rules is tighten. Is there anyone open account this year or recently?

so how was it? i plan to do so?

Folks,

Bump!!

Anyone successfully open Singapore Bank A/C without living or working in Singapore??

Thanks

Dreamer

Just open a securities trading account. They will give u a saving account also to deposit and withdraw money

Same method I used - didn't take long, was just over a year ago now. Never used OCBC securities and savings account is functioning as it should

Ops I forget to update managed to open a DBS account as I also intended to open a DBS vickers share trading. $3,000 balance otherwise $5 fall below fee per month.the good thing is it's a multiplier account and I can also keep other currencies like AUD which earns me 0.75% interest

Thats mean really have to physically travel to SG to do so?
Got others option?

go once to SG to open also problem?