What kind of investment with low risk in spore?

Cimb fast saver, Citibank maxi gain, FDs in SG, SSB.

For those with CIMB FastSaver, after receiving SMS regarding account activation - how long does it take for you to get the activation code to setup First Time Login for cimbclicks.com.sg? Is it via snail mail?

Got my account activation SMS 2nd Aug 2018 and only got the password to open PDF copy of my the application form and security token so far

This post has been edited by roarus: Aug 28 2018, 10:11 PM

Hi all, I would like to ask a question. Is it possible to transfer online earnings in USD from Paypal to iSAVvy account? I have yet to open an iSAVvy account..

Of course can. You will be charged double. Simple as that. One from PayPal side, one from bank side (from bank side expect higher exchange rate + possible fees)

Unless you have a multicurrency account/transferwise global account.

Is there a way to open a sg account if I'm not working there? last time it can but not sure the current status

All info is found in this thread. Only if you are rajin to read. If you are not rajin, then

This post has been edited by Ramjade: Sep 9 2018, 09:34 PM

@Ramjade
Okay, I read finished. Damn long debate but good insight by a few forummers here.


OPENING ACCOUNT
However, many banks closed gate to open from SG except for Priority Bankers or those insurance/fund investment criteria(X going to mention)

Just some confirmation, since some months ago, opening acc cant apply from SG anymore right?
Only via Malaysia due to the Employment Pass or Residential Address required.

So, can I assume that the only option now for normal bankers(X PB), Maybank is the only choice? MB Prefunded better than SC eSavers with the lower cost but to prevent the commission oath procedure, choose cash & prefunded option right? Correct me if wrong.

(ADDED) Some say use local broker such as CIMBITrade, not much different, less hassle? What I think is as long can online, less intermediate statutory(orang tengah) such as fintech still best but need to be regulated by BNM at least for security.

TRANSFER

MY -> SG: Use moneymatch/instarem or CIMB/MB MY to CIMB SG then CIMB SG to broker(still applicable with the new fintech?)
SG -> MY: Use transferwise

Others: relatives/friends or money exchanger(might not be legal but cheap)
Some suggest visa direct, eRemit, eForex,

INVESTMENT
UNIT TRUST - Go for Philip Capital-POEMs (Is eUnittrust from Msia the same with this?)

STOCK - If want CDS account, open DBS Vickers, if not can use MBKE Prefunded or SCeSavers for lower fees but nominee acc.
Choose Broker Leslie Toh? All under him?He must be very good in counter Msian Question ad.

Not sure OCBC or UOB as some stated but yeah about that.

I will follow the Maybank path for now since can be apply in MSia itself. Any quicker suggestions are welcomed

This post has been edited by w3sley: Sep 10 2018, 06:50 PM

Opening account.
Yes maybank and DBS are still the last bank standing. After you get either one, can open Cimb bank easily via online. Opening bank account need to go in person to SG unless it's Maybank.

To avoid going to commission of ath, go in person to SG (applies for broekrage). Otherwise get all documents verified by commissioner of oath then send them down via mail.

If you can open standard chartered, go for it. Is a better brokerage than Maybank but not nice forex rate. One way to bypass it is buy via DBS V, transfer over to standard chartered as DBS V have excellent exchange rate. This is for overseas stocks. For SG just pick either standard chartered or maybank KE prefunded.

Avoid local brokerage at all cost. Unless you feel so generous to donate free money to them (higher commission + dividend charges on every dividend received + maintenance fee). Your call.

Transfer
MY > SG Use any of the fintech. Banks more expensive. Cheapest bank also UOB. But fintech win them hands down. Unless you PB, and transfer 6 figure you can get cheaper rates from banks
Recommend ones: moneymatch (can't transfer to own account, transfer to others ), Instarem, max money
These 3 are the cheapest I find

SG > MY
DBS/Cimb SG/Transferwise. See who provide you the cheapest price.

Investment
UT : POEMS. Not same. You can't open an account using eUT Malaysia ID. You need to open with SG side.

Stocks: As mentioned above (my reply to you)

Hope this helps.

Thanks! replied in Red.

This post has been edited by w3sley: Sep 11 2018, 02:23 PM

Why so sacred to go commissioner if oath? They just chop all documents only. Commissioner of oath only for opening maybank KE prefunded account. For bank account, have to go in person. Except maybank isavvy. If you go in person for maybank isavvy, sure cannot open.

You can ask standard chartered to absorb the fees. If they are willing. And is cheaper than your forex rates charged by SCB if I am not mistaken. Only valid FOR foreign stocks.

Apparently is something BNM set up internally Still in place last I message moneymatch. Transfer to own account for moneymatch is a no go. But transfer to others is perfectly fine.

Trying to reduce the steps required but its okay since I will be making a trip to SG, I will do it there once Isavvy acc opened.
It seems like the tough part is the opening account, others are pretty straightforward.

Thanks anyway!

You can either send an email to HSBC Premier SG or you can try to open it via your HSBC Premier RM in Malaysia. There is absolutely no fall-below fee and you can get a debit card for free. All you need to make sure to maintain your HSBC Premier status in Malaysia.

HSBC account is pretty useless in SG. Avoid at all cost.

If he only wants a SG account then HSBC SG is good enough without him going all the troubles just to open a SG account. HSBC MY or HSBC SG will do everything for him. He doesn’t even need to pay a single cent to DHL. Besides, HSBC SG debit comes with NETS too and HSBC SG is in ATM5 network. There are plenty of Citibank ATM in Singapore for him to withdraw cash should the need arises. And last time HSBC SG will also issue a HSBC SG Premier World MasterCard. But unfortunately not anymore these days due to MAS had tightened the rules a few years back.

And HSBC SG does share trading too and it is running a promotion now on brokerage fee.

This post has been edited by MilesAndMore: Sep 11 2018, 04:31 PM

HSBC bank account cannot link to any POEMS.He wants POEMS as well And he mentioned the non PB way.

I can’t find the post by oldman1920 saying he wants to open a SG account not via premier/priority/private banking wah or that he wants to link to POEMS. Besides, he had mentioned he is currently a HSBC MY Premier client.

Eh I thought you referring to w3sley. Not oldman1920.
https://forum.lowyat.net/index.php?showtopi...post&p=90223058

Not sure where you get that idea as it was very clear that I was replying directly to oldman1920 in my post posted at 3.28pm today with his post quoted and all.

[quote=MilesAndMore,Sep 11 2018, 07:33 PM]
Eh I thought you referring to w3sley. Not oldman1920.
https://forum.lowyat.net/index.php?showtopi...post&p=90223058

[/quote]
Not sure where you get that idea as it was very clear that I was replying directly to oldman1920 in my post posted at 3.28pm today with his post quoted and all.


[/quote]
I didn't bother replying to oldman1920 as the date was August.