There is no minimum balance for first time user for DBS Multiplier Account or DBS My Account. You may deposit any amount you like OTC during account opening or via the CDM machines outside branch or in major public locations like MRT stations, malls, airports etc. You can also deposit via Wise/Instarem/other fintech or from other SG bank accounts.

You can also choose not to deposit anything and deposit only when you are back in Malaysia. But I will recommend deposit a few SGD just to try out the ATM feature to make sure the card can be used on MRT/buses.

DO NOT adjust the maximum transfer/pay limit for both card and ibanking to 0, otherwise the card/ibanking services might be deactivated. Choose the minimum amount above 0 for transfer/pay limit if you want to be secure.

Also make sure you bring enough money for food, transportation, hotel etc.

This post has been edited by TOS: Sep 18 2022, 07:56 PM

AirAsia Senai-Penang last time is 100 MYR back and forth for me should be ok.

Not sure about KL-Senai airfare. But land at Changi surely very expensive.

Train also ok. But I can't find KL Sentral-JB Sentral train ticket on KTMB website. Looks like fully booked?

Website under maintenance after 11pm. We check again tomorrow.

Go before branch open no need to queue 4 hours. Only those go after branch open will need to queue 4 hours. Remember SG mentality. It's game theory at work!

Not necesary to close multiplier account if you might land a job in SG in the future or can open CDP account. The bills and bonds interest count as "income" and if amount is large can help turn your multipler account into a high-yield saving account.

2 DBS accounts also allow you to move money back and forth to keep the accounts active if you don't have Maybank and CIMB SG.

This post has been edited by TOS: Sep 18 2022, 11:16 PM

That's why must come at 8 am*... early to bed early to rise makes a man healthy, wealthy and wise.

I didn't know DBS bully non-resident foreigners. Thanks for info, in this case, to stay safe, tadashi987, please follow Ram's advice to bring 3k or more SGD for account opening in case DBS wanna bully you.

They are not supposed to discriminate prospective clients but somehow it seems like they are becoming more like Swiss banks these days.

*tadashi987 Can consider booking a hotel near CBD to facilitate shorter transporation time to MBFC Tower 3. 7-8 am is peak hours so traffic jam is certain in CBD areas even with ERP in place. Avoid buses unless it's very near MBFC Tower 3. MRT is more predictable.

This post has been edited by TOS: Sep 18 2022, 11:42 PM

Your 2-3 people info is outdated already. Now the queue number is no longer given after 11am-12 pm in very busy days. Those come after branch open have to wait till afternoon to proceed with their applications if you are behind in the queue. You can only hope the officers will come to the queue to check your documents first. Risk-free rates are no longer 0% now...

My account opening process was only like 30 minutes. Did you just wait at the counter for 4 hours? The staff can't just be gluing their eye on the computer screen all the time. I don't recall any thumprint verification also. I suppose they can trace your thumprint by checking with ICA by looking up your travel documents since you already have your thumprint taken at the airport/land checkpoints.

Combining our experience, it seems like in the worst case tadashi has to wait for 8 hours to get his account opened... That sounds very unreasonable...

This post has been edited by TOS: Sep 19 2022, 08:25 AM

Ok lah different experience, we shall see how tadashi's experience looks like soon.

I hold a different view on fingerprint. SG GLCs and government integrate very well, I am not surprised if they can get fingerprints and info from ICA. And not taking your fingerprints can also be a good thing from privacy point of view.

Tried several times. Each time need MyInfo from SingPass, so not able to open account. But you can read the reviews from HWZ: https://forums.hardwarezone.com.sg/threads/...errals.6802859/


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tadashi987 make sure install some needed apps on your phone: "SG BusLeh" for bus live locations and MRT map, "Wireless@SGx" for free wireless service if eligible, SG Arrival Card app for filling up and showing your arrival card in SG.

This post has been edited by TOS: Sep 19 2022, 01:43 PM

Not sure if you have CDP account. If you have one, should consider SG 1 year T-bill, yield should be 3.18% up to 1 million SGD per non-competitive bid.

https://www.channelnewsasia.com/singapore/t...ow-risk-2948356

Same question. I also noticed SGD 0 for now but no other currencies are listed in the DBS ibanking online statement.

Did they inform you when your account was suspended? Or you just logged in as usual and noticed you couldn't do this and that etc?

This post has been edited by TOS: Sep 30 2022, 10:44 AM

Depends on the counter service officer. During my recent account opening in June 2022, they say Multiplier is for foreigner, MyAccount is for Sporeans/PR. I believe they purposely do this because too many Sporeans/PR who have jobs in SG can use multiplier to boost their interests while they rarely use the foreign currency accounts service offered in MyAccount. Foreigner may need to use multicurrency features often yet they push for multiplier account...

Anyway, you can open a MyAccount easily via the iBanking app once your multiplier account is set up. It took less than 3 minutes, just a few clicks of buttons.

It's a good opportunity to test your gf's patience.

Anyway, depending on which hotel/accomodation you stay, can ask your gf to wake up 2 hours later while you queue at MBFC Tower 3. A few hours of separation should not be a problem, yes? Or maybe jogging around Marina Bay first while you queue?

Sorry that I don't know what good places are there to paktor in SG Maybe can ask sgh for recommendation.

How long will you stay in SG?

You got 1 chance. Saturday morning. Come early as it's only half day, and those Sporeans usually working on weekdays will also join you on early Saturday to handle OTC bank matters.

You gotta come early tomorrow bro. Arrive before 8 am. Not sure if you can make it on time.

Yes, you can use Maybank SG or CIMB SG or both. Here's a complete guide to opening CIMB SG for Malaysians, without needing the need to travel across the border: https://ringgitfreedom.com/banking/opening-...for-malaysians/

For Maybank SG, you can follow the instructions here: https://www.maybank2u.com.sg/iwov-resources...n-Form-mbmy.pdf

CIMB SG is recommended over Maybank SG as:

1. CIMB SG has no minimum balance deposit requirement. Maybank SG has a minimum daily balance requirement of 500 SGD, or else you will be charged with 2 SGD fall-below fees.
2. CIMB SG has good SGD->MYR forex rate for transfers back to MY. Note that the converse is not true. MYR->SGD is best done via Wise/Instarem/Sunway Money/BigPay etc.
3. No inwards remittance TT charges for CIMB SG if you need to send money into your SG bank account via SWIFT, for example.

This post has been edited by TOS: Nov 14 2022, 08:34 AM

Tell the bank branch to open online for you from their branch computer. For first time DBS customer, no fall-below fees. So, no worries.

If possible, ask for My Account opening, but most likely they will tell you to open Multiplier account (for non-Sporean and PR). Just go with it, but insist that no fees will be charged (ask them to double check). The counter officer will open account for you via the "online" route.

https://www.dbs.com.sg/personal/deposits/ba...er#casaDigibank



Other references: https://forum.lowyat.net/index.php?showtopi...#entry104713013

SG banks have quota for how many customers they can handle per day as there are a few branches across the island but too many people (especially old uncles and aunties) who don't know (or like to) use mobile apps/internet banking will queue. These days with rising interest rates, OTC FDs and application for SG T-bills from CPF accounts (which can only be done via bank branch) means very long queue.

I took this photo a few months back at DBS Woodlands branch when I opened my account there:

https://forum.lowyat.net/index.php?showtopi...#entry104662684

CIMB bank should be better since they don't have that much customer like the 3 local banks. Most CIMB SG account functions are online too (like FD deposits). So, not much matters require physical visit to branch (thus less need to queue).

This post has been edited by TOS: Dec 2 2022, 06:19 PM

Try to return the next day, queue early. Or else, you can try other branches. https://www.dbs.com.sg/index/locator.page?filter=DBS

If still cannot by then, you can try other banks like OCBC and UOB. Your main aim should be the 3 local SG banks, mainly to prepare for possible CDP account opening in the future if possible. But UOB and OCBC saving accounts will have minimum balance requirements of some 500 SGD or more, unlike DBS's case.

While Sunway Money rates are better, I notice that the SGD always take 1-3 hours to appear in my SGD bank account. Wise might give poorer rate but the transfer is instant.

Not sure if you encounter the same situation.

Register an account here: https://sunwaymoney.com/

Once your account is set up you can transfer directly from the homepage. It should be fairly straightforward.

Take note that Sunway Money has a slightly different fee structure. They charge an extra "RM 1" service fee, unlike Wise or Instarem which include the fees together with forex markup.

So, when you compare Wise/Instarem and Sunway Money rate, to be accurate, you must always ensure Sunway Money's initial value in MYR is RM1 higher than Wise/Instarem for better accuracy. E.g. RM 2001 in Wise to SGD compared with RM 2000 in Sunway Money (RM 2001 deducted by Sunway Money during FPX transfer).