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 Opening a Bank Account in Singapore

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Ramjade
post May 27 2019, 12:56 PM

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QUOTE(jack2 @ May 27 2019, 12:33 PM)
I don't know. I thought is same for everyone.

Yours are not at this rate?
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Have not checked.
Mijac
post May 27 2019, 01:05 PM

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For the Singapore Dollar Maybank iSAVvy Savings Account :
Do you guys request for the Maybank Platinum Debit Card as well?
Is that compulsory to take?
Or can decline the Debit Card?
If accept the Debit Card, any recurring annual charges for it?
Thanks.

Ramjade
post May 27 2019, 01:10 PM

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QUOTE(Mijac @ May 27 2019, 01:05 PM)
For the Singapore Dollar Maybank iSAVvy Savings Account :
Do you guys request for the Maybank Platinum Debit Card as well?
Is that compulsory to take?
Or can decline the Debit Card?
If accept the Debit Card, any recurring annual charges for it?
Thanks.
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Comes together. No charges. Keep in mind the fallw below fee of SGD2/month if you have less than SGD500 in your bank account. SGD499.99 also will kena charged.

This post has been edited by Ramjade: May 27 2019, 01:11 PM
Mijac
post May 27 2019, 01:48 PM

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QUOTE(Ramjade @ May 27 2019, 01:10 PM)
Comes together. No charges. Keep in mind the fallw below fee of SGD2/month if you have less than SGD500 in your bank account. SGD499.99 also will kena charged.
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Okay, thanks!
homicidal85
post May 29 2019, 10:52 AM

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would just like to say thanks to Ramjade. i recently successfully activated my cimb fastsaver-i account following your instructions in this thread. the whole process was done online without having to travel to singapore or even a local bank branch.

nice one thumbup.gif

now all i need is someone to tell me how to create an Xfers account without a singapore phone number smile.gif
Ramjade
post May 29 2019, 05:46 PM

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QUOTE(homicidal85 @ May 29 2019, 10:52 AM)
would just like to say thanks to Ramjade. i recently successfully activated my cimb fastsaver-i account following your instructions in this thread. the whole process was done online without having to travel to singapore or even a local bank branch.

nice one thumbup.gif

now all i need is someone to tell me how to create an Xfers account without a singapore phone number smile.gif
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Why do you need xfers account?
homicidal85
post May 29 2019, 08:25 PM

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QUOTE(Ramjade @ May 29 2019, 05:46 PM)
Why do you need xfers account?
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to register for binance.sg.
its a fiat gateway to bitcoin.
Ramjade
post May 29 2019, 09:38 PM

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QUOTE(homicidal85 @ May 29 2019, 08:25 PM)
to register for binance.sg.
its a fiat gateway to bitcoin.
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Open account straight with Binance?
homicidal85
post May 30 2019, 10:01 AM

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QUOTE(Ramjade @ May 29 2019, 09:38 PM)
Open account straight with Binance?
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for fiat gateway in singapore, i need an intermediary. cannot direct buy from binance.
in malaysia previously, we can buy through luno directly but now that has stopped because of licensing issues. so, no more official fiat gateway to btc in malaysia. this is why i opened a sg bank acc so I potentially could use binance/coinbase singapore. im staying in JB and travel to singapore quite often anyway so its not too difficult for me to get a singapore sim card but there isnt one that is cheap to maintain over a long period. so, i prefer not to buy a sg number.
Ramjade
post May 30 2019, 12:47 PM

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QUOTE(homicidal85 @ May 30 2019, 10:01 AM)
for fiat gateway in singapore, i need an intermediary. cannot direct buy from binance.
in malaysia previously, we can buy through luno directly but now that has stopped because of licensing issues. so, no more official fiat gateway to btc in malaysia. this is why i opened a sg bank acc so I potentially could use binance/coinbase singapore. im staying in JB and travel to singapore quite often anyway so its not too difficult for me to get a singapore sim card but there isnt one that is cheap to maintain over a long period. so, i prefer not to buy a sg number.
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According to here, can register what.
https://www.binance.com/register.html
604weekendwarrior
post May 30 2019, 09:49 PM

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QUOTE(Ramjade @ May 30 2019, 12:47 PM)
According to here, can register what.
https://www.binance.com/register.html
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I think he's referring to Binance.sg which is different from Binance.com

I just registered for binance.sg and the verification process needs an SG SIM for OTC...
tadashi987
post May 31 2019, 09:03 AM

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QUOTE(604weekendwarrior @ May 18 2019, 06:21 PM)
Just in case this helps anyone applying for the SG ISavvy, my Maybank SG ISavvy account is finally 100% read to go.  For whatever reason, my PIN arrived 1.5 weeks after the initial notification letter that my account was open and when the security token & debit card arrived.

Either way, whole process took about a month from the time I applied to when I received my pin to set up my online account. 

Process was painless, (except for having to go back to the branch a few times.  I'm an expat with no car here yet lol)

Filled out the application (URL is in this thread)
Went to the closest Maybank branch with the application and all necessary documents
Maybank deducted $500sgd from my account
Paid the courier fees of 25MYR
After 2 weeks received the first letter stating my account is open
2 days later received my debit card & security token, but no online PIN
PIN arrived about 1.5 weeks later
Logged into my online account and $500SGD funds are in my account.

Can confirm this works for expats.

Thanks everyone for this thread.  I've been looking to get an account in Singapore since I moved here but no luck until I saw this thread.  thumbup.gif

Hope this helps anyone thinking of opening the Maybank ISavvy account.
Now I just to figure out how I can open a CIMB account as an expat lol..
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QUOTE(Ramjade @ May 18 2019, 09:10 PM)
You have 2 ways.
Open via Cimb clicks Malaysia,  Open using Cimb clicks SG.
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so we would require to use the security token for OTP everytime we login? transfer money? @@

and i check maybank SG FAQ we can't replace the security token battery on our own and require to send back the security token in case low battery?
sound troublesome

Attached Image




Ramjade
post May 31 2019, 10:33 AM

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QUOTE(tadashi987 @ May 31 2019, 09:03 AM)
so we would require to use the security token for OTP everytime we login? transfer money? @@

and i check maybank SG FAQ we can't replace the security token battery on our own and require to send back the security token in case low battery?
sound troublesome

Attached Image
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Yup. That's SG. Every banks have their own token. Yes need token for login, transfer money. Before token come need to use SMS OTP. That's why phone no you give them is very important.

Yes they will replace a new token for you once the battery is low. One token can last easily 5 years depending on how much you are using. The token will flash battery low x3. Each level of battery low give you rough estatement how much time you have.

If you lose your token or damage it you need to request new one and need to pay for it. Some SG banks are moving their token into their app. I trust the token more than I trust my phone.
tadashi987
post May 31 2019, 10:43 AM

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QUOTE(Ramjade @ May 31 2019, 10:33 AM)
Yup. That's SG. Every banks have their own token. Yes need token for login,  transfer money. Before token come need to use SMS OTP. That's why phone no you give them is very important.

Yes they will replace a new token for you once the battery is low. One token can last easily 5 years depending on how much you are using. The token will flash battery low x3. Each level of battery low give you rough estatement how much time you have.

If you lose your token or damage it you need to request new one and need to pay for it. Some SG banks are moving their token into their app. I trust the token more than I trust my phone.
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Hi ramjade, not sure if u have experience on this, if the token low battery, need send back to maybank sg? do we can get it done by visiting msia SG bank branch?

Ramjade
post May 31 2019, 10:46 AM

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QUOTE(tadashi987 @ May 31 2019, 10:43 AM)
Hi ramjade, not sure if u have experience on this, if the token low battery, need send back to maybank sg? do we can get it done by visiting msia SG bank branch?
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It cannot be done in Malaysia. You need to send back to SG bank or visit the bank in SG for direct exchange.
604weekendwarrior
post May 31 2019, 09:11 PM

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I have a Maybank SG ISavvy savings account and it's in SGD.

Am I able to open a USD savings account? Has anyone tried?
trust4you
post May 31 2019, 09:21 PM

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QUOTE(homicidal85 @ May 30 2019, 10:01 AM)
for fiat gateway in singapore, i need an intermediary. cannot direct buy from binance.
in malaysia previously, we can buy through luno directly but now that has stopped because of licensing issues. so, no more official fiat gateway to btc in malaysia. this is why i opened a sg bank acc so I potentially could use binance/coinbase singapore. im staying in JB and travel to singapore quite often anyway so its not too difficult for me to get a singapore sim card but there isnt one that is cheap to maintain over a long period. so, i prefer not to buy a sg number.
*
what about the tax? the transection thru singapore bank will it be traced by ldhn?
Ramjade
post May 31 2019, 09:35 PM

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QUOTE(trust4you @ May 31 2019, 09:21 PM)
what about the tax? the transection thru singapore bank will it be traced by ldhn?
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If you pay income tax already nothing to worry. Just keep all your transactions statement. If your under declare your income and pay less tax Yes need to be worried.
604weekendwarrior
post Jun 1 2019, 03:52 PM

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QUOTE(homicidal85 @ May 30 2019, 10:01 AM)
for fiat gateway in singapore, i need an intermediary. cannot direct buy from binance.
in malaysia previously, we can buy through luno directly but now that has stopped because of licensing issues. so, no more official fiat gateway to btc in malaysia. this is why i opened a sg bank acc so I potentially could use binance/coinbase singapore. im staying in JB and travel to singapore quite often anyway so its not too difficult for me to get a singapore sim card but there isnt one that is cheap to maintain over a long period. so, i prefer not to buy a sg number.
*
Let me know if you find out how to get past the SG number requirement. I'm stuck as well.
Bjorn1688
post Jun 2 2019, 04:15 AM

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Is it difficult to open a HSBC account if you have an Employment Pass but no SG address or phone number *yet* ?

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