Not sure. But you can open priority at any Singapore banks. Tell them you want to open priority banking and all of a sudden you got no more banking restrictions. lol

Walk into the bank. Of course do you have like SGD350k sitting around?. They will even fly their people to Malaysia to meet you.

If parking RM250k in Malaysia to open priority in sg, I think only HSBC allow you to do that.

This post has been edited by Ramjade: Dec 19 2024, 07:26 AM

Thanks for heads-up. Need to see if persistently better than Sunway money. If yes can consider them but have to factor in slower and may have lots of documentation.

Maybe it is just temporary promo or maybe it become sort of like "permanent promo" as with the care of cimb sg.

I won't bother with priority banking.

The only priority banking I want is with DBS. But if no priority it's ok. Won't die.

This post has been edited by Ramjade: Jan 11 2025, 08:50 AM

MCRL..They interest rate is lower than IBKR I believed. Which is already lower than most banks.

Multi currency resolving loan.

Just open tiger sg or moomoo sg. Moomoo sg harder open. Once open just buy Fullerton SGD cash fund. No need complicated terms and conditions or jumping though hoops.

Of course what. US interest rate drop so and SG interest is directly tied to US. So Fullerton interest also drop.

I won't bother as I am not sure how good or bad is the exchange rate by moomoo. All these mmf is just for you to park your money. I am able to put my money to work but earning min 3%p.a and growing automatically around 15%p.a without the need for new cash injection. Short term I gain lesser than MMF. Long term, I earn more than MMF.

Of course need to factor in conversion charges. Never chase all these foreign FD rates. Only do it if you are using that country currency to invest. Don't suja2 change from ringgit to USD just because of the interest rate.

This post has been edited by Ramjade: Jan 19 2025, 03:59 PM

I would not go with Cimb or any other sg bank foreign currency account. Reason is the min fall below amount which means extra fees for the bank should the amount drop below the required threshold and the money needs to be lock up and cannot be put to use. 2nd would be the exchange rate. I have always hated Singapore banks to lockup min amount.

If really want a foreign currency account, rhb multi currency in Malaysia would be a better choice.

If course if you are willing to travel to Singapore together a DBS account, by all means go for it as there is no minimum amount with DBS. I keep only SGD0.10 inside my DBS account.

This post has been edited by Ramjade: Jan 20 2025, 07:14 AM

Supposedly no fees from either of them. They are not fsm. I have used moomoo sg only. So far no fees for parking my money with Fullerton under moomoo. Never used Tiger before.

This post has been edited by Ramjade: Jan 20 2025, 04:57 PM

You cannot do anything. That's the downside of putting money into MMF. Singapore follow US fed interest rate. If US interest drop, Fullerton will also drop. You want to lock in the yield buy bonds or US tbills. It's cheaper than Singapore bonds.


Thanks. Anyway I don't aim for priority so I never follow the AUM required.

This post has been edited by Ramjade: Jan 21 2025, 12:27 AM

You need to get it done at their HQ. Not just any DBS branch. Also the account is usually lockup of $3000 with fall below fees if $5/Month.

Whether still can be done currently I don't know. I did mine at peak of 1MDB as a student.

If you do it via FAST transfer, it's free. It's essentially our Duitnow.
You cannot move USD for free via online.

Of coruse can. You have bank acocunt you can transfer to anywhere in the world.

I know tiger can loin using desktop app. I just mmf on moomoo mobile. If scared just get a cheap new android phien solely for banking and keep it at home lo.

That's what I do. My banking phone is always at home.

Maybe first transfer only. Subsequently no more unlike money match.

Cheaper to deposit rather than deposit USD straight into IBKR.

Also give you a bank account to hold SGD. Wise can only hold RM29k which is peanut.

Having a SG bank account really makes your money without border unlike restrictions on Malaysia

Also lastly the SGD will appreciate with time especially against the RM.

Nope. Been there down that and less questions or paper work to fill up with Singapore bank when you deposit SGD or withdraw SGD to your account.

There won't be closure in Malaysia as long as you can prove your money. Where it is coming from.

IBKR let you fund your account in SGD. You can withdraw also in SGD. There is no such option for ringgit.

IBKR SG is for Singaporeans only. Everyone get IBKR US unless you are in UK, Europe, Australia, Canada

You can always withdraw SGD to a SG bank account. But if you withdraw USD to a pure SGD account the USD will be converted into SGD at bank rate which is not cheap and not ideal unless you have a multi currency account.


Since Malaysia does not really have a multi currency account, everytime you withdraw money back to Malaysia (which you should not be doing), banks take a chunk of it like 3% and auto convert it to ringgit.

That's why I open SG bank account so there is no auto conversion.

Bro not everyone have DBS and not everyone can open DBS and DBS charges for incoming wire feess something which Cimb sg does not.

The closest Malaysian can get without crossing the border is RHB multi currency account.

This post has been edited by Ramjade: Jun 20 2025, 03:06 PM