May i know, why must DBS? POSB cannot use?

to many, initial deposit is a minor concerns,...i think the monthly account fees and the Fall-below fee of $ X.00 per month (if average daily balance < S$X,000), that is the major hurdle to many

This post has been edited by MUM: Aug 9 2018, 11:33 AM

Because the HR asked for DBS? LOL.
to many yes,but not to me because i just started work? LOL.
So do you know the initial deposit or not? Or else pls leave for experienced to help me.

during my time...it was $20 If I remembered correctly.
I currently had both DBS and POSB saving accounts
any way,..will leave my posting so that experienced people can help you.
bye for now.....

DBS and POSB are the same bank
DBS need min SGD3k for most account.
Posb eEveryday Savers only need SGD500. Whether DBS let you open eEveryday/Everyday Savers is another thing. I opened mine online.

If you want without any hassle, Maybank isavvy only SGD500.
I remembered one of UOB also SGD500. UOB have yearly charges for their card.

Hope this helps.

Hi thanks. But u mean initial deposit when opening account is 3k? Dbs website mentioned no initial deposit when opening but of course got fall out fee etc. Pls enlighten.

All info can be found here
https://www.dbs.com.sg/iwov-resources/forms...icing-guide.pdf
https://www.posb.com.sg/Resources/posb/docs...osits_guide.pdf
https://www.uob.com.sg/assets/pdf/deposits/...and_charges.pdf

For dbs, they will give you 1 month to start topping up to the required level.

appreciate if you could update us on the latest info....

I opened with SGD50 but topup straight away after opening account.

Thks....
so you top up till S$3k and does it need to have an average balance of 3k monthly?...else they will charge you some fees?

Yes need to maintain SGD3k. The SGD3k is practically stuck there and cannot withdraw earning 0.05%p.a. Even if it should drop to say SGD2999.99for for one day, you will be charged as SG banks use daily balance must be >=SGD3k.

You can withdraw but need to make sure you can earn back the fees being charged. SGD5.00 or SGD7.50/month depending on type of account.

What I did was after few months later switch my bank account to the min SGD500 one and put the balance SGD2500 to work. Close the SGD3k account.

This post has been edited by Ramjade: Aug 10 2018, 07:49 PM

Good info.
so the newly switched one is POSB or DBS a/c?

DBS multiplier > posb eEveryday Save
If want to talk about best rates for overseas online shopping, travelling, I don't need that multicurrency account now that there's BigPay where I can topup in RM.

This post has been edited by Ramjade: Aug 10 2018, 08:43 PM

Hi Ramjade, you always have great way to save monies. Can we transfer usd to another local bank account which accept usd currency in Malaysia with Bigpay?

I think this is wrong place to talk about Bigpay. You cannot transfer money from Bigpay into another person or your own bank account. Is a limitation of Bigpay. You can only transfer from one Bigpay account to another Bigpay account.
Not to mention that you can't move USD around in Malaysia (kind of malaysian govt policy to keep the RM in demand)

If you want to transfer money from overseas, best would be using Transferwise.

Thanks for reply. It's a spur of the moment response as i was wondering what the best way to transfer usd to another account in Malaysia. Sorry for Off topic to TS.

No banks gonna give you better rates than trasnferwise and friends. The other alternative is use Interactive broker. Their rate is very close to spot rate (real market rate) but the downside is the min USD100k need to be with them...

Hi all si fu, I am HSBC premier customer Malaysia. Now wish to open HSBC account in SG. Is there any restrictions for Malaysian? Any fall below fees? I can't find info from HSBC SG website.

Forget about HSBC SG. They are one of the worse bank to have in SG. Totally useless. Apparently you did not look hard enough. Here you go.
https://www.hsbc.com.sg/1/2/miscellaneous/tariff/main

For customers who are residing overseas and would like to open a Premier International account in Singapore, please visit their Premier International Centre at 6 Claymore Hill #02-00 Claymore Plaza, Singapore 229571.

https://www.hsbc.com.sg/1/PA_ES_Content_Mgm...tant-things.pdf

https://www.hsbc.com.sg/1/2/hsbcpremier/hsb...tional/contact/

Hi ramjade, i am a newbie here. Can share what you did with the SGD 2500 to earn better returns? I too am concerned with the low interest rate earned.