finally got time to do non-office hours comparison

RM3.4955 market mid-rate as verified by Wise

	S$850	S$8562
DuitNow	2982.46	30042.11
MoneyMatch	2992.40 + 5	30142.28 + 5
sunway money	2993.45 + 8	30140.09 + 8
wise	2991.81	30140.80
bigpay	2988.15 + 4.5	30099.39 + 4.5

Hello all! Happy New Year! I've got a question regarding putting idle cash in money market funds (Fullerton SGD). At the moment, MoomooSg is not available for us Malaysians. What would be the next best option? From this blog (https://growbeansprout.com/cash-management-accounts-singapore-guide), seems like it could be Webull due to zero platform fees and reasonably quick withdrawal time?

At the moment, I've got some idle cash in CIMB Sg (SGD) as well as IBKR (SGD+USD). What would be the best way to transfer funds into money market funds? Convert into USD in IBKR and transfer straight into Webull (is that possible/allowed)? Or convert into SGD (in IBKR) and transfer into CIMB Sg first, then into Webull.

The current Moneybull campaign is min USD2000 but I'm not sure whether it's more worthwhile for funding to be in USD or SGD.

erm.. when u figure out how to do it.. teach.

i went into MBB website no duitnow for overseas. If i key in my tel no.. it goes to duitnow my Msia  ac.
even CIMB also cannot find duitnow to SG bank
https://www.duitnow.my/Cross-Border/fund-transfer.html

Thanks. I reregistered my phone in MBB SG but didn't link to paynet. After linking it works now. Don't seem to need to link SG to MY account though.

DuitNow to SG in SGD is a 3.506 rate huh...

maybank singapore good? if im already a maybank malaysia customer, how to open maybank singapore ya?

if i wan to open a sg bank acc in malaysia, which better ya? or what way better?

thanks! good rate to bring money back to Malaysia u mean when i transfer SGD from cimb sg to MYR to cimb my, better rate? is that the rate u r referring to?

UOB Malaysia Priority Customer?  Correct?

No issues.  Just looking at available options
Since you're knowledgeable on this 👌

Try HSBC. No fees for inter country transfer.

Hi, just wanna ask is there anyway I can deposit physical singapore dollar in Malaysia ?

Is there any way to transfer from myr to sgd cheaper? I use cimb click to transfer to cimb sg, exchange rate at 3.5878

Haha yeah. I saw moneymatch rate is 3.5544 for myr/sgd, is this the rate usually we use to remit fund? Because money changer midvalley only 3.50

Yes that is the rate I checked. If I want to transfer 300k to 500k sgd (rm1 to 1.5mil) , is this the best way to transfer? I mean we cannot compare to the rate offered by money changer/ Google rate? We should use the rate stated in wise/moneymatch/bank tt correct?

Yes bank offered me 3.56, first time doing big transfer, I thought it cost me only 3.50 or 3.51, got shocked 😲

my ocbc Statement Savings Account service fee waived until 25 aug 2024

I have applied Monthly Savings Account via ocbc website. before 25 aug 2024, i planned to move my money to Monthly Savings Account.

anyone doing the same? using Monthly Savings Account? any issues?

Reason why i ask is: according to OCBC SG website, technically, I am not eligible (i am a foreigner without pass) to open this "Monthly Savings Account" account, despite i have opened this "Monthly Savings Account" account.

Am thinking to diversify some of my capital - into SG bank (SG is the best offshore bank) for asset protection n diversification (keep in SGD). Is CIMG SG sufficient? Or better open a pure SG bank like UOB. Would appreciate any suggestion.

why would normal malaysians open SG bank acc??? unless u stay in JB or u go SG very often lar.... got business dealings etc.... if not for normal folks.... why wanna open a SG bank acc ah??? FD rate also super low......

To be honest, I just wan to keep it there. 0% is ok, hold too much ringgit is not a good sign

Cause those that open and park SGD in singapore banks since 2010 laughing liao. 😆 FD rate low? Kindly check again… also got government bonds/t-bills that offers as high as 4.5%+

Also not to mentioned potential currency appreciation, more investment choices, politically stable country, business/investment friendly environment etc.

thanks for the tip..... we should have a SG FD rate discussion thread here then..... in SG, if u wanna put in FD, do u need to open a bank acc? which bank is Foreigner/ Malaysian friendly in 2024?