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.

Looks like MBB now also can make TT for initial deposit to activate account...

Opening a bank account in Sg is much more convenient now...not to mention it is faster...

3rd party transfer allowed to activate the bank account.

Yes, TT is one way that can be used to make initial deposit.

In my case, when I submitted my application forms for Maybank iSavvy Savings Account at Menara Maybank, KL, I insisted that once iSavvy Savings Account is opened by Maybank Singapore, I will transfer SGD 500 from my savings account in other bank in Singapore, for the initial deposit. So, it is not necessary to perform TT, or buy a bank draft for the purpose of the initial deposit, if the applicant chooses not to.
For the application of Maybank iSavvy Savings Account in Malaysia, I believe that identity verification is performed by Maybank Malaysia by virtue of thumbprint verification. Thus, Maybank Singapore does not require the initial deposit to be originated from other savings account belonged to the applicant.

On the other hand, CIMB Singapore requires that the initial deposit to be originated from other savings account belonged to the applicant (either CIMB Malaysia savings account, or other savings account in other bank in Singapore), because this is how CIMB Singapore performs identity verification.

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

Managed to open both Maybank iSAVvy and CIMB FastSaver-i thanks to the info here.

Here's my journey if it helps anyone in the future:

Maybank:
1. Downloaded and filled in iSAVvy application form from maybank sg site
2. Submitted form, IC and utility bill to Maybank SS15 Subang Jaya branch on Raya eve (14 June 2018)
*was told utility bill not required if IC and mailing address in form is same, but no harm including it
*did not attach bank draft for initial amount of SGD500
3. Waited around 3 weeks and heard nothing yet, dropped an email to CallCentre@maybank.com.sg (3 July 2018)
*before that unable to contact Maybank SS15 Subang Jaya as lines were always busy/gave up waiting on hold for person in charge of savings account
4. Got misscall from Maybank SG, and later an email informing me that relevant department has been notified regarding my application status check (5 July 2018)
5. Got a call from Maybank SS15 Subang Jaya, turns out the forms are still in Malaysia and will be couriered via DHL to Singapore the same day (10 July 2018)
6. Got an SMS from Maybank SG regarding OTP registration with my mobile number (16 July 2018)
7. Got a welcome call from Maybank SG regarding account activation and to lookout for pins, security token and debit card in the mailbox (17 July 2018)
8. Got my pins, security token and debit card in 2 separate batches over the week and following week (20 - 26 July 2018)
9. Transferred to cover Maybank and CIMB's initial opening amount via Instarem - RM10 off with welcome promo code (~5:30pm 30 July 2018)
10. Money appeared in Maybank SG account as inward FAST transfer, amount as shown during Instarem transfer confirmation - no inward fee like TT (~3:45pm 31 July 2018)

CIMB:
1. Applied using online form for CIMB FastSaver-i
2. Submitted form with uploaded IC (front + back) image and utility bill PDF
3. Got account number at the end of application and welcome email
4. Transferred via FAST the initial amount from Maybank SG (31 July 2018)
5. Got a call from CIMB SG, apparently my IC uploads weren't captured - had to attach and reply on top of welcome email (1 Aug 2018)
6. Got email acknowledging my attachments and SMS later in the day informing me that account has been activated (2 Aug 2018)
Update: After activation, you should expect to get code for cimbclicks First Time Login via SMS (together with welcome SMS), and security token via mail 1-2 weeks later

Also did MoneyMatch and Instarem registration:
1. MoneyMatch - online KYC
2. Instarem - 2 min KYC at my office area in Bangsar

Thanks bro for the details step by step explanation, really helpful indeed. 

Looks like Maybank still dealing with some manual paperwork, hence i decided to give CIMB a try.

Sharing my experience opening CIMB Fastsaver account for SG:

~11am, 8 Oct 2018 (Sunday)
- Applied online thru cimb website. Got the CIMB SG account number immediately.
- Using instarem to transfer initial deposits (Min required 1k sgd)
- Request to link CIMB SG account in CIMB Clicks MY website (I'm an existing CIMB Clicks user)

~7pm, 9 Oct 2018 (Monday)
- CIMB SG account approved in CIMB Clicks MY. Able to see the money i deposits using instarem.
It looks almost exactly 1 business day for the account creation + approved, 2 days for end to end process. Impressive and everything is done online.

Thanks bro for the details step by step explanation, really helpful indeed. 

Looks like Maybank still dealing with some manual paperwork, hence i decided to give CIMB a try.

Sharing my experience opening CIMB Fastsaver account for SG:

~11am, 8 Oct 2018 (Sunday)
- Applied online thru cimb website. Got the CIMB SG account number immediately.
- Using instarem to transfer initial deposits (Min required 1k sgd)
- Request to link CIMB SG account in CIMB Clicks MY website (I'm an existing CIMB Clicks user)

~7pm, 9 Oct 2018 (Monday)
- CIMB SG account approved in CIMB Clicks MY. Able to see the money i deposits using instarem.
It looks almost exactly 1 business day for the account creation + approved, 2 days for end to end process. Impressive and everything is done online.

Looks like the shortest and most convenient way to open account in SG at the moment. +1 for the report on successful funding via Instarem too

You guys know right if you want to use EPS,  Cimb SG does not support EPS?

You guys know right if you want to use EPS,  Cimb SG does not support EPS?

sifu, what's EPS?

What is the general usage for EPS? I plan to use it mainly for saving / transferring fund to FSM SG / other investment platform.

EPS is electronic payment for shares usually use to link your brokerage to your bank account. Think of it like our IBG but it takes one day.

Only few banks in SG supports EPS. The ways to transfer money  electronically is usually FAST (think of our IBFT),  EPS, GIRO. You need to ch ck with the respective brokerage whether they support FAST transfer or not.

I will avoid FSM SG if one is aiming to buy UT. FSM SG is only good for
1) SG brokerage
2) HK brokerage

Other than that,  avoid FSM at all cost. I opened FSM SG only for their access to HK market as they are the only 3 brokers I know of in SG which does not charge dividend/maintenance fee for HK stocks

Thanks bro for the details step by step explanation, really helpful indeed. 

Looks like Maybank still dealing with some manual paperwork, hence i decided to give CIMB a try.

Sharing my experience opening CIMB Fastsaver account for SG:

~11am, 8 Oct 2018 (Sunday)
- Applied online thru cimb website. Got the CIMB SG account number immediately.
- Using instarem to transfer initial deposits (Min required 1k sgd)
- Request to link CIMB SG account in CIMB Clicks MY website (I'm an existing CIMB Clicks user)

~7pm, 9 Oct 2018 (Monday)
- CIMB SG account approved in CIMB Clicks MY. Able to see the money i deposits using instarem.
It looks almost exactly 1 business day for the account creation + approved, 2 days for end to end process. Impressive and everything is done online.

Thanks bro for the EPS explanation. I just started to understand how SG banking and money transfer works.   

Any specific reason why you're trying to avoid FSM? Is there any better investment instrument available for non-SG resident? I interested in US ETF from FSM SG.

I'm sorry it seem this discussion is a little off the original topic.

1% of gross dividend
subject to
min USD 2.50
max USD 25

EPS is electronic payment for shares usually use to link your brokerage to your bank account. Think of it like our IBG but it takes one day.

Only few banks in SG supports EPS. The ways to transfer money  electronically is usually FAST (think of our IBFT),  EPS, GIRO. You need to ch ck with the respective brokerage whether they support FAST transfer or not.

I will avoid FSM SG if one is aiming to buy UT. FSM SG is only good for
1) SG brokerage
2) HK brokerage

Other than that,  avoid FSM at all cost. I opened FSM SG only for their access to HK market as they are the only 3 brokers I know of in SG which does not charge dividend/maintenance fee for HK stocks

Thanks sifu for explaining on EPS.
Who are the 3 brokers in SG doesn't charge for HK Stocks?
Is FSM one of the 3 that's why you with them?

FSM
Standard chartered
Interactive broker

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 ? 

Yes,... another door opened now,...this is good, because if someone starts to open now, and mkt drops after this, can start to buy shares already...

Do you guys know which is the cheapest brokerage in Singapore ?