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 Opening a Bank Account in Singapore

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fairylord
post Apr 12 2017, 11:24 AM

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QUOTE(Ramjade @ Apr 12 2017, 11:22 AM)
SGX is open via DBS Vickers. You do not need to go to SGX. Head over to MBFC, fill up DBS vickers form + CDP form =done. Wait for letter to come to your house.
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Oh..Bro is referring to DBVS HQ..downtown MRT nearest.
TOMEI-R
post Apr 12 2017, 11:49 AM

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QUOTE(Ramjade @ Apr 12 2017, 11:18 AM)
Since you are in SG, just go straight to HQ and open. MBFC.
Ya lo. I highly doubt they will be generous. Unless another economy crisis happen as in 2008 then baru generous.
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Its not about being generous or not. Its regarding the anti money laundering and tax evasion treaty that is to be signed by many countries.
Ramjade
post Apr 12 2017, 12:04 PM

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QUOTE(TOMEI-R @ Apr 12 2017, 11:49 AM)
Its not about being generous or not. Its regarding the anti money laundering and tax evasion treaty that is to be signed by many countries.
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AU, thailand got no problem opening account as tourist.
fairylord
post Apr 12 2017, 01:04 PM

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QUOTE(Ramjade @ Apr 12 2017, 12:04 PM)
AU, thailand got no problem opening account as tourist.
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Really?! I should have opened accounts there during the last visits. Suddenly feel like dumb Accountholic~
tifosi
post Apr 12 2017, 03:22 PM

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QUOTE(Ramjade @ Apr 12 2017, 12:04 PM)
AU, thailand got no problem opening account as tourist.
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Off topic a little but how did you go about opening acc in AU as a tourist? I tried Commonwealth and ANZ but was turned away.
Ramjade
post Apr 12 2017, 03:23 PM

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QUOTE(tifosi @ Apr 12 2017, 03:22 PM)
Off topic a little but how did you go about opening acc in AU as a tourist? I tried Commonwealth and ANZ but was turned away.
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Not me. Some blogger. Make appointment before going AU. Make sure your application is less than 14 days of arrival.
cwhong
post Apr 22 2017, 07:54 PM

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Wish to open a banking acct with dbs and trading acct with them too. I would like to clarify if no mailing address in SG and no working permit would able to do so as Malaysian? I understand some may get to open it but seems not easy to be done.
Ramjade
post Apr 22 2017, 08:02 PM

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QUOTE(cwhong @ Apr 22 2017, 07:54 PM)
Wish to open a banking acct with dbs and trading acct with them too. I would like to clarify if no mailing address in SG and no working permit would able to do so as Malaysian? I understand some may get to open it but seems not easy to be done.
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Yes doable. Need to present yourself there. MBFC. Prepare SGD3k cash to open account. Take DBS V queue no first. Later they will redirect you to opening bank account by asking you to take opening account no (you can take both no one shot to save time). This one depends on them whether they want to let you open or not. If they reject you, you can say goodbye to DBS vickers account already.
Not sure if pintu to open with DBS close already or not.

Take note: SGD3k must be maintain with the bank at all times or else kena charge SGD5/month.

This post has been edited by Ramjade: Apr 22 2017, 08:08 PM
cwhong
post Apr 22 2017, 10:42 PM

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QUOTE(Ramjade @ Apr 22 2017, 08:02 PM)
Yes doable. Need to present yourself there. MBFC. Prepare SGD3k cash to open account. Take DBS V queue no first. Later they will redirect you to opening bank account by asking you to take opening account no (you can take both no one shot to save time). This one depends on them whether they want to let you open or not. If they reject you, you can say goodbye to DBS vickers account already.
Not sure if pintu to open with DBS close already or not.

Take note: SGD3k must be maintain with the bank at all times or else kena charge SGD5/month.
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Thanks for your clarify, but what is MBFC?
Ramjade
post Apr 22 2017, 10:47 PM

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QUOTE(cwhong @ Apr 22 2017, 10:42 PM)
Thanks for your clarify, but what is MBFC?
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Marina bay financial centre.
cwhong
post Apr 22 2017, 10:54 PM

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QUOTE(Ramjade @ Apr 22 2017, 10:47 PM)
Marina bay financial centre.
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Oh ic thanks .... notworthy.gif
aspartame
post Apr 22 2017, 11:45 PM

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QUOTE(tifosi @ Apr 12 2017, 03:22 PM)
Off topic a little but how did you go about opening acc in AU as a tourist? I tried Commonwealth and ANZ but was turned away.
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Why want to open Australia bank account? Singapore is much nearer and good enough.
Ramjade
post Apr 22 2017, 11:53 PM

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QUOTE(aspartame @ Apr 22 2017, 11:45 PM)
Why want to open Australia bank account? Singapore is much nearer and good enough.
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Because no harm having additional bank account in other part of the world.
aspartame
post Apr 23 2017, 12:20 AM

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QUOTE(Ramjade @ Apr 22 2017, 11:53 PM)
Because no harm having additional bank account in other part of the world.
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There is no harm for sure but it would be Immaterial to one's financial well being. The money involved will be inconsequential.
Ramjade
post Apr 23 2017, 12:25 AM

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QUOTE(aspartame @ Apr 23 2017, 12:20 AM)
There is no harm for sure but it would be Immaterial to one's financial well being. The money involved will be inconsequential.
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If you are going to invest quite a bit in that country/if you visit that country regularly, it's a good idea to have a local bank account. A bank account + trading account is the way to go vs just a trading account. Well that's just my opinion.
MGM
post Apr 27 2017, 07:14 PM

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It would be nice to have this btw Spore n Mysia

http://www.businessinsider.my/transferwise...czK66TItQrWV.97
Ramjade
post Apr 27 2017, 07:41 PM

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QUOTE(MGM @ Apr 27 2017, 07:14 PM)
It would be nice to have this btw Spore n Mysia

http://www.businessinsider.my/transferwise...czK66TItQrWV.97
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That exist. But Sngapore to Malaysia only. There's no Malaysia > SIngapore.
zhuanko
post May 6 2017, 01:24 AM

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QUOTE(tifosi @ Apr 12 2017, 06:22 PM)
Off topic a little but how did you go about opening acc in AU as a tourist? I tried Commonwealth and ANZ but was turned away.
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WestPac can. i opened mine during my visit.
Seng_Kiat
post May 7 2017, 07:13 PM

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if I own a company in singapore, possible to open an account?

how long it takes to open? Can I just walk in to the bank?

Thanks.
Ramjade
post May 7 2017, 07:23 PM

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QUOTE(Seng_Kiat @ May 7 2017, 07:13 PM)
if I own a company in singapore, possible to open an account?

how long it takes to open? Can I just walk in to the bank?

Thanks.
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Yes. Company is easy. Walk into any bank you like. SG is one of the easiest place to do business in the world.

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