You had replied him early on but it didn’t really answer his questions. I just saw his questions and I happen to know the answers to his questions such as fall below fee and so on. So I chipped in.

Cash deposit: Not required and fall-below fee waived if under 30years old?

Reply from DBS,



Hope what he said is correct.

[EDITED] Wrong Image

This post has been edited by w3sley: Sep 13 2018, 11:07 PM


Attached thumbnail(s)

[QUOTE]
[quote=Ramjade,Aug 23 2018, 09:54 PM]
Lock in because if the value drop below that threshold even for a day, the bank will charge you a monthly fee.
For SGD500 account should the amount drop to say SGD499.99, you will be charged SGD2/month.
For a SGD3000 account, the fall below fees range from SGD5-7.5
What this means is the SGD500/SGD3k is essentially lock up and you can't move it. Thus generating you zero returns.
[/QUOTE]

[quote=w3sley,Sep 13 2018, 11:05 PM]
Cash deposit: Not required and fall-below fee waived if under 30years old?

Reply from DBS,
Hope what he said is correct.

[EDITED] Wrong Image

[/quote]

Is the lock-in still valid? @Ramjade

https://www.thestar.com.my/business/busines...s-in-singapore/

maybank SG good news?

what are the additional services allowed under approved Community Financial Services (CFS) ?

To open a Singapore CIMB Fastsaver-i Account you must have CIMB Malaysian Account with Cimbclicks access. I just opened my CIMB SG Fastsaver-i Account on Tuesday evening from the comfort of my office in KL and got the account no on the spot. Next login CimbClicks and linked my new Fastsaver-i account to my malaysian cimbclicks. Processing time between 1 to 3 days for linking. After successful link on Thursday morning, I transfered the min deposit from my cimb bank account in malaysia to my Fastsaver-i Account via Cimbclicks. The SG account was activated later in the morning on Thurs and I then applied for ATM Card over the phone. So all in all it took me three days to get a Cimb SG Fastsaver-i Account. On top of that it pays 1% pa on all balances up to SGD50k but the ATM Card can only be used to withdraw money with no debit card function.

think is this.

Subject to approval from the Singapore High Court, Maybank said Maybank Singapore would transfer its community financial services business, namely the retail (personal banking, privilege wealth, premier wealth), private wealth, retail, small medium enterprises (RSME) banking and commercial banking business via a scheme of transfer to MSL with effect from Nov 5, 2018.

Yes I got a notice through mail from them on this too.

basically a full fledge bank? so guys who apply MBB SG got more services now?

You will need to transfer fund from another SG account to your SG Fastsaver-i to activate it right?

You can transfer from your CIMB Account in Malaysia to your new CIMB Fastsaver SG Account once the linking of accounts have been approved by CIMB SG. No necessary to transfer from another SG account via FAST.

Nope. Condition clearly state must do a FAST TRANSFER from a local SG bank. You cannot TT or anything. Not even from Cimb.

Linking can only be done after activate account. If account not active, how to link?

This post has been edited by Ramjade: Oct 5 2018, 06:25 PM

I did it myself so I guess your information is incorrect. Yes condition is must do transfer from another SG account in your name however there are some exceptions that is not known to many. In my case open account, get account no, login my cimbclicks and apply to link the account and after account linked do same bank transfer from cimb my acct to cimb sg acct then the account will be activated for purposes of applying for atm card.

This post has been edited by myprop9: Oct 5 2018, 08:58 PM

Thanks for sharing !

Yes, looks like ramjade is wrong. I tried it just now. This is the email I got :



hansel one door closed, the other door opened ?

Ok apparently my info outdated. More than 1 year ago I asked Cimb customer service the same thing, they told me no.

It is a bit similar to Maybank Singapore iSavvy Savings Account. If we have Maybank Malaysia Savings Account, we are allowed to open Maybank Singapore iSavvy Savings Account.

So, that is the latest update. However, S$1,000 will be converted at CIMB Bank's rate, which should be inferior to the rate of Instarem, and other Fintechs. Still, it is a small price to pay, to get the Singapore Savings Account opened.

Once CIMB Fastsaver Account is opened, future deposit to this savings account can be done via Instarem, and other Fintechs, for more favourable currency exchange rate.

Did CIMB Singapore charge you SGD 10, for this ATM card?

The fee of getting the ATM card is stated here. https://www.cimbbank.com.sg/en/personal/sup...rges&n=accounts

This post has been edited by kart: Oct 6 2018, 06:28 AM

Most of cimb customer service people in both malaysia and singapore are not well versed with the policies or acceptable practices to open the Fastsaver-i account.

[quote=kart,Oct 6 2018, 06:23 AM]
It is a bit similar to Maybank Singapore iSavvy Savings Account. If we have Maybank Malaysia Savings Account, we are allowed to open Maybank Singapore iSavvy Savings Account.

[/quote]

So, that is the latest update. However, S$1,000 will be converted at CIMB Bank's rate, which should be inferior to the rate of Instarem, and other Fintechs. Still, it is a small price to pay, to get the Singapore Savings Account opened.

Once CIMB Fastsaver Account is opened, future deposit to this savings account can be done via Instarem, and other Fintechs, for more favourable currency exchange rate.
Did CIMB Singapore charge you SGD 10, for this ATM card?

The fee of getting the ATM card is stated here. https://www.cimbbank.com.sg/en/personal/sup...rges&n=accounts

[/quote]

Yes Cimb SG said there will be a one time SGD10 charge unlike in MY where they charge you Annual fee for an ATM Card.

Regretfully Mbb iSavvy Account opening is backward compared to Cimb Fastsaver-i. For Mbb you need to buy a bank draft for the initial deposit to be submitted with the Application Form with Supporting Documents to selected Mbb Branches in MY. Mbb MY will then courier all the documents together with the draft to Mbb Battery Road SG which processing time will take three weeks to be approved or rejected.

For iSavvy you cannot do transfer like Cimb as all transfers to iSavvy Acct from m2u will be treated as foreign TT.

Just submitted for MBB SG iSavvy account yesterday. Just fill up the form with supporting docs. Was told no need bank draft now. Once account approved, just do foreign TT to SG account would do

This post has been edited by jutamind: Oct 6 2018, 11:41 AM

Same here. DOne it on 21/9. Still waiting.
3rd party transfer allowed to activate the bank account.