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 Opening a Bank Account in Singapore

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Ramjade
post Nov 7 2023, 01:47 PM

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QUOTE(abcn1n @ Nov 7 2023, 01:31 PM)
Ramjade You mean email or postal mail? Anyway, now its through sms from what I see from various websites/youtubes
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Better call them to find out. Use idd calls to bring down cost of calling.
Ramjade
post Nov 7 2023, 02:21 PM

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QUOTE(abcn1n @ Nov 7 2023, 02:17 PM)
Thanks. Will do. I read CIMB only got 1 branch in Singapore and they are very busy. There was 1 person succeeded after 1 week. Yikes
Yours is very fast. Thanks for sharing  :thumbsup:
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Yup 1 branch only. I think sg govt law. Only those like important to economy have more branches. That's why I don't bother with apply debit card from cimb sg. ATM inside their branch and no where else and never have the need to use SGD debit card.
Ramjade
post Nov 7 2023, 03:29 PM

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QUOTE(TOS @ Nov 7 2023, 03:11 PM)
All Singapore banks. Uob also shit. If you read their Facebook. Well it tell you something. Lol.
Ramjade
post Nov 13 2023, 02:17 PM

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QUOTE(abcn1n @ Nov 13 2023, 01:50 PM)
Update. Confirmed total charges deducted is USD20-170 for my case.
Ramjade, charges deducted for yours is slightly less than USD20 because from your 2 screenshots, the amount withdrawn is different from amount received (xx814.06 vs xx796.12). So around USD17+ difference there. Then add USD 7+ for TT as per your 2nd screenshot. So total deducted USD20+

Happy Deepavali to you. May you have a wonderful timeĀ  during this festive season
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If you use wise, it's free. Only need to pay wise withdrawal fees.

Yes I have used wise to send USD from inside wise to DBS sg.

This post has been edited by Ramjade: Nov 13 2023, 02:18 PM
Ramjade
post Nov 18 2023, 11:41 AM

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QUOTE(Chiggah @ Nov 18 2023, 10:28 AM)
May I know the reasons people here transfer to SG bank account for ?

I know one of them is to transfer from SG CIMB to Interactive Brokers, but is it also to park in SG because MYR is devaluing ?

Can we earn FD while we park in SG CIMB ?
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Cause you want to put your ringgit to work. When you put it to work, it earns you foreign currency rather than earning you ringgit.

Yes to protect against devaluation. Some people only put into Sg bank account or FD. Not ideal.

Tell me if you know SGD1 is going to be say RM4.50 or RM5.00 some where in the future. Are you not going to do anything about it? RM4.50 or RM5.00 is a question of when. Not if. Guaranteed to happen.

This post has been edited by Ramjade: Nov 18 2023, 11:42 AM
Ramjade
post Nov 21 2023, 07:04 PM

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QUOTE(chiacp @ Nov 21 2023, 03:04 PM)
Transfer SGD1000:
-Wise : fee 26.14 total: 3511.04
-MAE total: 3486.75

With wise you get 3511.04 rgt compared with MAE 3486.75 for 1000 sgd. So it's cheaper with WISE as you get more rgt for the 1k sgd.
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Will they show you rate first before or after you transfer? Any fees by the banks?
Ramjade
post Nov 22 2023, 04:18 PM

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QUOTE(Mr Gray @ Nov 22 2023, 03:56 PM)
yes rate is shown before transfer. Zero fees. MYR to SGD, definitely better transfer using duitnow than Wise.

Scanning paynow QR with duitnow strangely doesn't work for now. Maybe it will work soon.
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Not sure why my bank got no duitnow. Maybe I never activate duitnow. Lol.
Ramjade
post Nov 22 2023, 04:42 PM

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QUOTE(leo2010 @ Nov 22 2023, 04:29 PM)
user posted image

Try this ..
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Dome that. No Duit now option. Maybank transfer, western union and another unknown stuff but no duitnow. Anyway moneymatch cheaper than whatever Maybank can offer me.
Ramjade
post Nov 22 2023, 04:59 PM

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QUOTE(leo2010 @ Nov 22 2023, 04:54 PM)
You did this ?

user posted image
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Duitnow option missing. Never see the middle options.
Ramjade
post Dec 10 2023, 12:30 PM

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QUOTE(Medufsaid @ Dec 10 2023, 12:07 PM)
i already corrected my post. i got confused with DBS $1k fall below threshold.

i opened my DBS acct in 2009 when fall below was only $500, $500 still applicable to me due to grandfather clause. just closed this year bcos i think it's silly to lock up any funds, also partly bcos covid shows me that my money could technically be frozen as i won't be able to liquidate/close acct with the border closed (well i mean, i can always withdraw what i want, just pay S$2 monthly only)
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You should have switch to DBS my account. It's free. No fall below fees. Check and see if you still can cause your info is with he bank. DBs my account is a multicurrency account.

QUOTE(Hansel @ Dec 10 2023, 12:29 PM)
Thank you for acknowledging, bro Ramjade,... :thumbsup:

Singpass is coming today. Just wanted to alert relevant bros here,.........
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It been there for a while. Only way to get singpass is working there or citizen or or. Irony part is people loaded easy to open account. Man on the street difficult to open account.

This post has been edited by Ramjade: Dec 10 2023, 12:55 PM
Ramjade
post Dec 10 2023, 02:34 PM

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QUOTE(Hansel @ Dec 10 2023, 01:31 PM)
I think no need to talk abt the 'loaded ways'.

Bro,... I am trying to help my buddy open an OCBC acct.. Would you know this step - second image of front of IC,... what does it mean by : Scan bottom front card ???

We have placed our IC nicely INSIDE the box by tilting our phone. We are not able to capture the 'tilted' image of our IC. What's wrong, bro ?

Then the error msg comes out : Scanning the second front image failed.
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QUOTE(!@#$%^ @ Jul 25 2023, 04:34 PM)
nice. one question though, can close the account online?
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Mr Gray said Ocbc app problematic. Lol.
Look at Mr gray reply I the quote. Somehow his post is deleted.

This post has been edited by Ramjade: Dec 10 2023, 03:34 PM
Ramjade
post Dec 18 2023, 02:14 PM

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QUOTE(Medufsaid @ Dec 18 2023, 01:34 PM)
how about malaysian investment accounts? my robo advisor is malaysian-based
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Open la interactive broker and give them interactive broker statement.
Ramjade
post Dec 26 2023, 01:53 PM

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QUOTE(moonsatelite @ Dec 26 2023, 01:27 PM)
welp, its quite a hassle and lot of screening, should i just inform them to cancel the account opening? my biggest fear is that they will refund me via cheque
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Don't even know what's the issue. They ask you for bank statement and whatever stuff, just give them. Not that hard. Remember you want their account not they want your money. Just be nice and follow what they want. Part of their KYC.
Ramjade
post Jan 3 2024, 07:57 PM

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QUOTE(gooroojee @ Jan 3 2024, 07:36 PM)
If first year no fall below penalty then i'll keep my OCBC account, since got statement...

But my MBB iSavvy account is eating SGD$2 every month. Thinking to terminate it, but the zero fee transfer to/from MBB Malaysia is what's keeping me holding on to it.
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That is because of fall below fees. You need to "lock up" SGD500 inside there to prevent the SGD2/month fee.

Maybank rates sucks. See TOS reply below. They write zero fees but markup the exchange rate.

QUOTE(TOS @ Jan 3 2024, 07:47 PM)
Maybank FX rates are good? I remember it's CIMB SGD-> MYR that's worth trying.

It's important to note that zero fees does not mean the bank can't markup the FX rates and earn your money. Beware of this marketing gimmick/business tactic. smile.gif
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Ramjade
post Jan 4 2024, 06:54 PM

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QUOTE(moonsatelite @ Jan 4 2024, 04:33 PM)
i wonder why don't people notice the Ar-Rihla Savings account instead which only needs SGD $200 minimum balance, the lowest requirement from Maybank SG

i noticed that most people sign up with iSavvy (minimum SGD $500)
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No such options last time.
Ramjade
post Jan 4 2024, 09:42 PM

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QUOTE(!@#$%^ @ Jan 4 2024, 09:36 PM)
many info available at lowyat first
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Actually he copied all our info without giving credits. That's why I never watch any of his video.
Ramjade
post Jan 5 2024, 06:37 AM

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QUOTE(Mr Gray @ Jan 4 2024, 10:34 PM)
Lol I just realised my original post was deleted. Mod deleted eh?
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Not sure why deleted? Maybe people don't want us to open sg account ? Lol.

QUOTE(Medufsaid @ Jan 4 2024, 11:31 PM)
which post of yours was this, Ramjade?
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His post on step by step how to open a ocbc account. Not mine.

QUOTE(john123x @ Jan 5 2024, 02:16 AM)
i used to watch ziet videos and found some info are outdated.

and its very frustrating when i post at lowyat forum to ask for help, just to be ridiculed with  "just follow ziet", "dont be stupid", "dont stubborn", "i follow ziet last time no problem", "you the problematic one", "other people no problem only you"

and i really did suffer a serious depression about this the last time.
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That's why I never ask you or anyone to follow ziet video. Cause I don't support copycat which don't give credit. I always try to answer those who ask questions.

This post has been edited by Ramjade: Jan 5 2024, 06:38 AM
Ramjade
post Jan 5 2024, 09:49 AM

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QUOTE(moonsatelite @ Jan 5 2024, 09:35 AM)
a Singaporean debit card is quite useful when you're in Singapore, although you can also use OCBC Cashless withdrawal if one has already opened an account.
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No need. Use tng ewallet or bigpay. I use that last time. Never need ATM or debit card.
Ramjade
post Jan 5 2024, 09:53 AM

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QUOTE(!@#$%^ @ Jan 5 2024, 09:52 AM)
so is moomoo still the best place to park idle funds at minimal risk via fullerton sgd cash fund?
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Yes. Malaysians without singpass cannot open moomoo. Reason is moomoo is coming to Malaysia soon. When? Dont know. Supposed end of 2023.

This post has been edited by Ramjade: Jan 9 2024, 02:04 PM
Ramjade
post Jan 5 2024, 10:50 AM

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QUOTE(TOS @ Jan 5 2024, 09:54 AM)
TnG ewallet can hold SGD? blink.gif
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Tng ewallet card is which "supposedly give good rates" but heard SCB jumpstart better rates. Anyway youtrip coming soon.

QUOTE(!@#$%^ @ Jan 5 2024, 09:58 AM)
i see. have been neglecting my small sg idle money. i have moomoo, endowus, syfe and stashaway sg, so i wonder
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Choose anyone. Majority use Fullerton mmf fund. Some use lionglobal.

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