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 Opening a Bank Account in Singapore

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post May 21 2017, 07:46 PM

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QUOTE(Ramjade @ May 21 2017, 07:45 PM)
You don't need to have priority/private banking to be able to open bank account in SG. Just that priority/private banking
1) improve your chances
2) make your life easier as you don't need to go down to SG.
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i was referring to not needing to visit branch biggrin.gif
Ramjade
post May 21 2017, 07:51 PM

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QUOTE(alexanderclz @ May 21 2017, 07:46 PM)
i was referring to not needing to visit branch  biggrin.gif
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Actually you can do that with Maybank isavvy for malaysians. Not sure if you meant Malysian branch or SG branch. Even for this Maybank iSavvy, you just need to visit Maybank Malaysian branch and they do everything for you even if you are priority customer as you still need to sign the forms.
Ramjade
post May 23 2017, 10:29 PM

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QUOTE(Mr.Weezy @ May 23 2017, 10:01 PM)
Hey friends&fam here !

Not sure if what I'm gonna ask is personal finance or not, but here it is anyway .

I'm planning to diversify my savings overseas

Just don't feel safe putting all my money in Malaysia

I plan to open a bank account in Singapore , anyone has info regarding it?

Very limited info online. Only thing I heard of from a friend is it requires min deposit of S$200k.

Feel free to comment what are your thoughts on this

Regards
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All info can be found in this thread. Not sure if you are too late.

Rubbish. You don't need min SGD200k. Min to open is SGD3000. If you use maybank route, min is SGD500. Of course with SGD200k, higher chances thumbup.gif

I opened mine with DBS for SGD3k, maybank SG for SGD600, Cimb SG for SGD1k then I move the SGD1k out.

Keep in mind SG banks charge you if you have lesser then the min amount. Best bank for temporary parking is cimb fast saver as it's free (no min level) and give 1% pa.

DBS - need to be physically there. At MBFC. Ask for DBS Vickers account then only they will let you open bank account.
OCBC and UOB I think same procedure. Tell them you want to open trading account and bank account. I think can be done at raffles place as there is their HQ.
Maybank SG - Can be done in malaysia without visiting SG. Go download and fill up isavvy forms for malaysians.
Cimb SG - Online application but needs a local SG bank account first.

Not sure if DBS, OCBC, UOB and maybank SG close their doors. If door is close, then yes, you need min SGD200K to open.

This post has been edited by Ramjade: May 23 2017, 10:41 PM
Mr.Weezy
post May 23 2017, 10:51 PM

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QUOTE(Ramjade @ May 23 2017, 10:29 PM)
All info can be found in this thread. Not sure if you are too late.

Rubbish. You don't need min SGD200k. Min to open is SGD3000. If you use maybank route, min is SGD500. Of course with SGD200k, higher chances thumbup.gif

I opened mine with DBS for SGD3k, maybank SG for SGD600, Cimb SG for SGD1k then I move the SGD1k out.

Keep in mind SG banks charge you if you have lesser then the min amount. Best bank for temporary parking is cimb fast saver as it's free (no min level) and give 1% pa.

DBS - need to be physically there. At MBFC. Ask for DBS Vickers account then only they will let you open bank account.
OCBC and UOB I think same procedure. Tell them you want to open trading account and bank account. I think can be done at raffles place as there is their HQ.
Maybank SG - Can be done in malaysia without visiting SG. Go download and fill up isavvy forms for malaysians.
Cimb SG - Online application but needs a local SG bank account first.

Not sure if DBS, OCBC, UOB and maybank SG close their doors. If door is close, then yes, you need min SGD200K to open.
*
Man
if the thread title were spelt correctly, would've discovered this thread earlier laugh.gif
ok , noted with thanks
jack2
post May 24 2017, 11:48 AM

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QUOTE(Ramjade @ May 23 2017, 10:29 PM)
All info can be found in this thread. Not sure if you are too late.

Rubbish. You don't need min SGD200k. Min to open is SGD3000. If you use maybank route, min is SGD500. Of course with SGD200k, higher chances thumbup.gif

I opened mine with DBS for SGD3k, maybank SG for SGD600, Cimb SG for SGD1k then I move the SGD1k out.

Keep in mind SG banks charge you if you have lesser then the min amount. Best bank for temporary parking is cimb fast saver as it's free (no min level) and give 1% pa.

DBS - need to be physically there. At MBFC. Ask for DBS Vickers account then only they will let you open bank account.
OCBC and UOB I think same procedure. Tell them you want to open trading account and bank account. I think can be done at raffles place as there is their HQ.
Maybank SG - Can be done in malaysia without visiting SG. Go download and fill up isavvy forms for malaysians.
Cimb SG - Online application but needs a local SG bank account first.

Not sure if DBS, OCBC, UOB and maybank SG close their doors. If door is close, then yes, you need min SGD200K to open.
*
Have you discovered the way to USD account?
Ramjade
post May 24 2017, 12:08 PM

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QUOTE(jack2 @ May 24 2017, 11:48 AM)
Have you discovered the way to USD account?
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I posted my application. Now see whether will be approved or kena rejected. Anyway USD in SG is useless. Cannot transfer anywhere via online. Need to manually present yourself at counter to do USD transaction unless you are using it to buy stocks.
jack2
post May 24 2017, 12:10 PM

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QUOTE(Ramjade @ May 24 2017, 12:08 PM)
I posted my application. Now see whether will be approved or kena rejected. Anyway USD in SG is useless. Cannot transfer anywhere via online. Need to manually present yourself at counter to do USD transaction unless you are using it to buy stocks.
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really? I thought can do online... if cant, then it is useless like Malaysia.
Ramjade
post May 24 2017, 12:31 PM

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QUOTE(jack2 @ May 24 2017, 12:10 PM)
really? I thought can do online... if cant, then it is useless like Malaysia.
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From what I talk with DBS and Maybank SG, only way to move your USD is via visit to the bank branch. Not sure if you can TT directly from USD account via online.
MilesAndMore
post May 24 2017, 06:37 PM

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QUOTE(jack2 @ May 24 2017, 12:10 PM)
really? I thought can do online... if cant, then it is useless like Malaysia.
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For HSBC SG, you can transfer USD online to your overseas account.
jack2
post May 24 2017, 06:43 PM

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QUOTE(MilesAndMore @ May 24 2017, 06:37 PM)
For HSBC SG, you can transfer USD online to your overseas account.
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How to apply HSBC SG?
Ramjade
post May 24 2017, 07:02 PM

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QUOTE(jack2 @ May 24 2017, 06:43 PM)
How to apply HSBC SG?
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Priority customer with HSBC MY and SG lo.
jack2
post May 24 2017, 07:06 PM

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QUOTE(hwl97 @ May 24 2017, 02:26 PM)
Hi,

Does anyone know of a local bank that offers USD foreign currency current account for business purpose? Basically for:
-receiving money in USD from PayPal or other online payment processors
-TT transfer to foreign banks in USD
-has e-banking functions for viewing balances/statements and to perform TT and local bank transfers

This account needs to be registered to a local sole proprietor/business name.

Any hint would be helpful, thank you.
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Don't think you are able to withdraw PayPal in USD to bank accounts in Malaysia. As you are Malaysia, you must need to withdraw in MYR even though you have USD account.




QUOTE(Ramjade @ May 24 2017, 07:02 PM)
Priority customer with HSBC MY and SG lo.
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Hahahaha... Don't think HSBC will accept me.
Ramjade
post May 24 2017, 07:13 PM

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QUOTE(jack2 @ May 24 2017, 07:06 PM)
Don't think you are able to withdraw PayPal in USD to bank accounts in Malaysia. As you are Malaysia, you must need to withdraw in MYR even though you have USD account.
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I think if Paypal to USD account in Malaysia, can. Only cannot tarik that USD out. Can only see USD only. sad.gif
jack2
post May 24 2017, 07:26 PM

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QUOTE(Ramjade @ May 24 2017, 07:13 PM)
I think if Paypal to USD account in Malaysia, can. Only cannot tarik that USD out. Can only see USD only.  sad.gif
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Cannot. During PayPal withdrawal menu, you are forced to exchange to MYR.
kart
post Jun 30 2017, 07:38 PM

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Ramjade

If I want to buy S-REITs share today via Maybank Kim Eng, can I key in the nunber of units and buying price in Maybank Kim Eng website yesterday night?

Or, I can do it on the morning today?

Thanks for the advice. smile.gif
Ramjade
post Jun 30 2017, 08:44 PM

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QUOTE(kart @ Jun 30 2017, 07:38 PM)
Ramjade

If I want to buy S-REITs share today via Maybank Kim Eng, can I key in the nunber of units and buying price in Maybank Kim Eng website yesterday night?

Or, I can do it on the morning today?

Thanks for the advice. smile.gif
*
It doesn't matter you enter now or enter next morning (as long as not before it masuk queue the next morning) as both will masuk at the same time. TO buy next morning, usually I queue the night before/next monrning. Even in the middle of the day, sometimes I cancel my previous order and put in new price to requeue laugh.gif
kart
post Jun 30 2017, 09:40 PM

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Thanks, Ramjade.

Are you still using DBS Vickers Cash Upfront Account for SGX trading, or you have changed to Maybank Kim Eng Trade Prefunded Account?
Ramjade
post Jun 30 2017, 10:10 PM

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QUOTE(kart @ Jun 30 2017, 09:40 PM)
Thanks, Ramjade.

Are you still using DBS Vickers Cash Upfront Account for SGX trading, or you have changed to Maybank Kim Eng Trade Prefunded Account?
*
I use Vickers for:
1) Hold the shares in my name
2) Get free discount card from company
3) Easier to go for AGM/EGM
4) Apply IPO

I use Maybank KE for:
1) rights issue (you can't do this with DBS Vickers as DBS Vickers will auto sell any right issue unless you have SG address). Maybank KE let you subscribe to rights issue.
2) topup anything I have with DBS Vickers as brokerage is cheaper

Whatever is bought using DBS Vickers will be left with CDP as it is.

For month of May still using vickers as the charges only SGD5 (DBS V have SGD5 rebate which ends today)
For the month of June, didn't buy anything.
For month of July, most likely will use KE unless Vickers offer me SGD5 promo some more. That's 2 upcoming IPO I want to try my luck (Netlink + HNA Reit which can only apply via DBS Vickers)

Btw, I haven't open ceremony my Maybank KE yet. tongue.gif It's already opened but haven't use it yet.

This post has been edited by Ramjade: Jun 30 2017, 10:13 PM
kart
post Jun 30 2017, 10:35 PM

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Thanks for your informative post, as always.

For DBS Vickers, do you explain what kind of discount card you get and which company?

Based on DBS Vicker website (http://www.dbs.com.sg/vickers/en/vickers-r...es-btnlearnmore), the brokerage fee of 0.12%, min SGD10 for Cash Upfront account with SGD5 online rebate is still valid until 31 December 2017.

So, you have even lesser chance to use your Maybank KE account? tongue.gif
nestahng
post Jul 11 2017, 03:37 AM

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Hi all bro and sis,

I just open an Maybank iSavvy account in Singapore. Now I want to transfer some money from my Malaysia Maybank account to iSavvy account in Singpore for investment purpose.

Questions:
1. Is there any daily transfer limit from my Maybank Malaysia to Maybank Singapore?
2. I realize that there're 2 way which I can transfer from Maybank Malaysia to Singapore: Foreign Telegraphic Transfer & Maybank Money Express. Is there any transfer limit for both and do they share the same transfer limit?
3. Anything would happen if I exceeded the daily limit?

Thanks!

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