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 Opening a Bank Account in Singapore

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hyperzz
post Apr 13 2019, 03:59 PM

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QUOTE(604weekendwarrior @ Apr 13 2019, 02:59 PM)
Besides Maybank and CIMB for opening bank accounts in SG, are there any other banks that offer this type of program?

As an expat they won't allow me to open a bank account at CIMB even with a valid Malaysia work permit.  So I'm looking for another option besides the Maybank ISavvy.
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The decision to accept/decline an bank account application is very subjective. Sometimes it depends on the mood of the staff serving you.
With a work permit in MY, you have very good chances to get a bank account with any banks in MY.
You can try to open account at another branch of CIMB, maybe you will have better luck smile.gif
Just make sure to give a very good reason for needing the account.
604weekendwarrior
post Apr 13 2019, 09:09 PM

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QUOTE(hyperzz @ Apr 13 2019, 03:59 PM)
The decision to accept/decline an bank account application is very subjective. Sometimes it depends on the mood of the staff serving you.
With a work permit in MY, you have very good chances to get a bank account with any banks in MY.
You can try to open account at another branch of CIMB, maybe you will have better luck smile.gif
Just make sure to give a very good reason for needing the account.
*
Hi Hyperzz

I've actually tried at 2 different CIMB branches in Bangsar. Both said that because I'm a foreigner with a work permit, my employer needs to have their bank account with CIMB as well, which it isn't. The first branch I figured ok maybe its only this branch's policy, but the second time I was told that I just gave up.


Ramjade
post Apr 13 2019, 09:53 PM

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QUOTE(604weekendwarrior @ Apr 13 2019, 09:09 PM)
Hi Hyperzz

I've actually tried at 2 different CIMB branches in Bangsar.  Both said that because I'm a foreigner with a work permit, my employer needs to have their bank account with CIMB as well, which it isn't.  The first branch I figured ok maybe its only this branch's policy, but the second time I was told that I just gave up.
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What foreigner are you?
Best to open normal bank account with Cimb Malaysia then after one year apply online for cimb sg.
604weekendwarrior
post Apr 14 2019, 01:34 AM

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QUOTE(Ramjade @ Apr 13 2019, 09:53 PM)
What foreigner are you?
Best to open normal bank account with Cimb Malaysia then after one year apply online for cimb sg.
*
Canada

Opening a normal bank account at CIMB Malaysia is the issue, I can't even look to think about opening a CIMB SG account yet.
hyperzz
post Apr 14 2019, 01:39 AM

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QUOTE(604weekendwarrior @ Apr 13 2019, 09:09 PM)
Hi Hyperzz

I've actually tried at 2 different CIMB branches in Bangsar.  Both said that because I'm a foreigner with a work permit, my employer needs to have their bank account with CIMB as well, which it isn't.  The first branch I figured ok maybe its only this branch's policy, but the second time I was told that I just gave up.
*



As I don't work for CIMB I don't know if this is their policy. But I think some bank staff could be more easygoing. I would try more branches of CIMB if I were you.

AFAIK, only Maybank and CIMB offer this service without requiring you to join their premier banking (min RM 200k). Other forumers can correct me if I am wrong.

An European guy shared his experience about getting a SG bank account on another forum. He succeeded after making close to 10 trips to SG. He got the DBS account on his 3rd attempt. It's about how badly you want the account. If there's a will, there's a way.

With your Canadian passport and MY address, you stand a good chance to get the DBS account. My Malaysian friend who tried last year was given the cold shoulder. Only the Marina Bay branch would open account for nonresident. You have to ask for the DBS vickers account first. Ramjade would know more about this.

Ramjade
post Apr 14 2019, 08:38 AM

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QUOTE(604weekendwarrior @ Apr 14 2019, 01:34 AM)
Canada

Opening a normal bank account at CIMB Malaysia is the issue, I can't even look to think about opening a CIMB SG account yet.
*
Canadian no issue opening SG bank account if go down. If you are US/Malaysian/Indon maybe got issue.
elea88
post Apr 14 2019, 01:03 PM

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QUOTE(hyperzz @ Apr 14 2019, 01:39 AM)
As I don't work for CIMB I don't know if this is their policy. But I think some bank staff could be more easygoing. I would try more branches of CIMB if I were you.

AFAIK, only Maybank and CIMB offer this service without requiring you to join their premier banking (min RM 200k). Other forumers can correct me if I am wrong.

An European guy shared his experience about getting a SG bank account on another forum. He succeeded after making close to 10 trips to SG. He got the DBS account on his 3rd attempt. It's about how badly you want the account. If there's a will, there's a way.

With your Canadian passport and MY address, you stand a good chance to get the DBS account. My Malaysian friend who tried last year was given the cold shoulder. Only the Marina Bay branch would open account for nonresident. You have to ask for the DBS vickers account first. Ramjade would know more about this.
*
i agree .. IF THERE's a will.. there's a way.

coz i blur blur walk into STandard Chart Singapore.. and the manager then.. happily open the bank ac and the brokerage ac for me..
after many declines from so many branches.

Whenever i walk pass a bank. i just try luck. and BINGO.. did it in one of the days... She will try to sell all their investment products.. however. i just sit and chit chat.. ask her to totally convince me why i want buy UNIT TRUST from Std Chart when i can get from Philip Cap at 0%.. then talk talk .. she say O.K la.. but hv to be super patient.. total process took me few hours.

then after open the ac. a month later realise did not sign the US ac form.. so i went back and bring her some presents local products from M'sia.. and she open an ac for my sis and a friend on my 2nd trip. She is now promoted to another division..

So, yeah.. if really want Singapore Bank ac.. whenever in Sg.. just go walk into any branch and try try. There is no SOP.... it depends on u and the officer at that time.
604weekendwarrior
post Apr 14 2019, 01:54 PM

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QUOTE(hyperzz @ Apr 14 2019, 01:39 AM)
As I don't work for CIMB I don't know if this is their policy. But I think some bank staff could be more easygoing. I would try more branches of CIMB if I were you.

AFAIK, only Maybank and CIMB offer this service without requiring you to join their premier banking (min RM 200k). Other forumers can correct me if I am wrong.

An European guy shared his experience about getting a SG bank account on another forum. He succeeded after making close to 10 trips to SG. He got the DBS account on his 3rd attempt. It's about how badly you want the account. If there's a will, there's a way.

With your Canadian passport and MY address, you stand a good chance to get the DBS account. My Malaysian friend who tried last year was given the cold shoulder. Only the Marina Bay branch would open account for nonresident. You have to ask for the DBS vickers account first. Ramjade would know more about this.
*
QUOTE(Ramjade @ Apr 14 2019, 08:38 AM)
Canadian no issue opening SG bank account if go down. If you are US/Malaysian/Indon maybe got issue.
*
QUOTE(elea88 @ Apr 14 2019, 01:03 PM)
i agree .. IF THERE's a will.. there's a way.

coz i blur blur walk into STandard Chart Singapore.. and the manager then.. happily open the bank ac and the brokerage ac for me..
after many declines from so many branches.

Whenever i walk pass a bank. i just try luck. and BINGO.. did it in one of the days... She will try to sell all their investment products.. however. i just sit and chit chat.. ask her to totally convince me why  i want buy UNIT TRUST from Std Chart when i can get from Philip Cap at 0%.. then talk talk .. she say O.K la.. but hv to be super patient.. total process took me few hours.

then after open the ac. a month later realise did not sign the US ac form.. so i went back and bring her some presents local products from M'sia.. and she open an ac for my sis and a friend  on my 2nd trip. She is now promoted to another division..

So, yeah.. if really want Singapore Bank ac.. whenever in Sg.. just go walk into any branch and try try. There is no SOP.... it depends on u and the officer at that time.
*
Appreciate the feedback guys. I'll give it another shot at another CIMB branch.




Mijac
post Apr 15 2019, 10:20 PM

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QUOTE(ShinG3e @ Apr 8 2019, 02:42 PM)
I did mine at first avenue branch. better to go bigger branches.

they will provide the papers to sign.
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QUOTE(coolguy99 @ Apr 8 2019, 06:42 PM)
I did mine at the kl main branch
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Thanks for the input.
Will go to bigger branch as advised.
604weekendwarrior
post Apr 30 2019, 06:30 PM

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QUOTE(604weekendwarrior @ Apr 13 2019, 02:59 PM)
Besides Maybank and CIMB for opening bank accounts in SG, are there any other banks that offer this type of program?

As an expat they won't allow me to open a bank account at CIMB even with a valid Malaysia work permit.  So I'm looking for another option besides the Maybank ISavvy.
*
Just to update the status of my ISavvy account.

Today I received a letter from Maybank Singapore with my Access ID for Maybank2u.com.sg, and that I should be receiving my PIN and Security Token soon.

Looks like I have my Singapore bank account! thumbup.gif
hyperzz
post Apr 30 2019, 06:42 PM

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QUOTE(604weekendwarrior @ Apr 30 2019, 06:30 PM)
Just to update the status of my ISavvy account.

Today I received a letter from Maybank Singapore with my Access ID for Maybank2u.com.sg, and that I should be receiving my PIN and Security Token soon.

Looks like I have my Singapore bank account!  thumbup.gif
*
Congrats!
Any success with CIMB?
604weekendwarrior
post Apr 30 2019, 06:48 PM

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QUOTE(hyperzz @ Apr 30 2019, 06:42 PM)
Congrats!
Any success with CIMB?
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Thanks!

I haven't tried yet. I'll be away from Malaysia for a week so I think I'll try again when I get back. Will try a branch farther away from the Bangsar area.


On a somewhat related note to my CIMB issue,

I opened a savings account at Heong Leong and they asked me the same questions.
- Is this for your payroll account?
- Will you be investing with us?

Said yes to all and they started creating my application and processing it.

Then out of nowhere, the teller agent asked me "We can't find your employer bank account, are they not with us?". I said no and they had a 10min discussion in Malay and decided to give me the account anyways.

I don't think I was supposed to get it but they were probably 80% done processing my application.
hyperzz
post Apr 30 2019, 06:55 PM

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QUOTE(604weekendwarrior @ Apr 30 2019, 06:48 PM)
Thanks!

I haven't tried yet.  I'll be away from Malaysia for a week so I think I'll try again when I get back.  Will try a branch farther away from the Bangsar area.
On a somewhat related note to my CIMB issue,

I opened a savings account at Heong Leong and they asked me the same questions. 
-  Is this for your payroll account?
-  Will you be investing with us?

Said yes to all and they started creating my application and processing it.

Then out of nowhere, the teller agent asked me "We can't find your employer bank account, are they not with us?".  I said no and they had a 10min discussion in Malay and decided to give me the account anyways. 

I don't think I was supposed to get it but they were probably 80% done processing my application.
*
I think the requirement that your employer should have a bank account with the same bank is not a hard requirement.
It can be waived but this decision is up to the staff serving you. It's a plus that you said you will invest with them thumbsup.gif
Better luck with CIMB next time.
604weekendwarrior
post Apr 30 2019, 09:16 PM

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QUOTE(hyperzz @ Apr 30 2019, 06:55 PM)
I think the requirement that your employer should have a bank account with the same bank is not a hard requirement.
It can be waived but this decision is up to the staff serving you. It's a plus that you said you will invest with them  thumbsup.gif 
Better luck with CIMB next time.
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I'll keep trying I guess. thumbsup.gif
hyperzz
post May 1 2019, 03:20 AM

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QUOTE(604weekendwarrior @ Apr 30 2019, 09:16 PM)
I'll keep trying I guess.  thumbsup.gif
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If you're asked about your employer's bank account again, you should say:

"I am not sure which bank my employer has account with, but my colleague recommended that I open account with your bank".

Hope this work.
icemanfx
post May 1 2019, 02:40 PM

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According to bnm kyc guidelines; bank should only accept foreigners with work permit if his employer has bank account there.

hyperzz
post May 1 2019, 03:06 PM

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QUOTE(icemanfx @ May 1 2019, 02:40 PM)
According to bnm kyc guidelines; bank should only accept foreigners with work permit if his employer has bank account there.
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Any online references/URL for this?
Just interested to know more.
toiletking2006
post May 10 2019, 10:57 AM

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Anyone of you using Malaysia Phone number to register for cimb fastsaver account??
I am using digi. And I cant seems to receive Activation code for cimbclick.


roarus
post May 10 2019, 11:11 AM

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QUOTE(toiletking2006 @ May 10 2019, 10:57 AM)
Anyone of you using Malaysia Phone number to register for cimb fastsaver account??
I am using digi. And I cant seems to receive Activation code for cimbclick.
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I'm using Unifi Mobile for it. Did you get account activation and welcome SMS? I got those but didn't get activation code for first time login registration. You can get it resent via phone call, either:
i. Drop CIMB SG an email and they will call you back the same or next business day (they'll at least call twice and drop you an email if they failed to reach you)
ii. Call CIMB SG directly
toiletking2006
post May 10 2019, 11:13 AM

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QUOTE(roarus @ May 10 2019, 11:11 AM)
I'm using Unifi Mobile for it. Did you get account activation and welcome SMS? I got those but didn't get activation code for first time login registration. You can get it resent via phone call, either:
i. Drop CIMB SG an email and they will call you back the same or next business day (they'll at least call twice and drop you an email if they failed to reach you)
ii. Call CIMB SG directly
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i got activation and welcome sms. but didnt receive the activation code for cimb clicks.
Do u manage to get the code after calling them?
I tried calling them despite two attempt of resending i couldnt get it as well

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