Mind to share which maybank branch recommended / can open account without problem?

Is there reason(s) why everybody is rushing to open an account in Singapore ? In malaysia bank, we also have foreign currency accounts. You still can convert RM into forex and keep in bank accounts. I believe it is much easier to open a forex account in malaysia than an account in Singapore

If your objective is for share investment, our malaysian trading platform can buy shares in many exchanges around the world. You can fund your trading accounts in forex and buy shares in those foreign exchange. If you sell it, you can also choose to get the proceed in forex and not exchange it back to RM but keep in forex, waiting for your next trade.

For those who say the charges to buy shares in foreign exchange, the difference is only 0.xx%. Unless you are trading in millions, the price changes in a few days could easily be more than 0.xx%.

This left us with the last concern that Malaysia will introduce capital control again. And sending money out will be a problem. But do you guys have so much forex spending/expense ? My experience during the capital control years in late 90s / early to mid 2000s, I vaguely remember the procedures/documents required may be more, but my import/export business and my forex spending for my kids education is still not much of a problem

Or you fear that malaysia's economy will collapse like Zimbabwe or Venezuela ? If that happens, how much money in foreign currencies do you think you need to have so you can flee the country and live overseas for a long period of time ? Bear in mind, unless you are multi millionaire who could live on the wealth, you cannot simply move to another country and get a job there. Poor people is not welcome by any country

Unless I missed out that all of those who rush to Singapore to open accounts are people with millions to park overseas....

You are using the platforms in Singapore ? Then it is logical to have a Sg bank account.

For those using local platform, the dividend handling charge for SGX is only S$10, right ?

 

I think opening a Sg bank account is to serve the purpose of using the share trading platform in Sg. Not the other way around. Opening bank account in Sg just for the sake of opening

Your version is more accurately described 🤓

For the opening of account in sg, i think neither local resident bank with branch in sg nor sg resident bank will entertain someone with a few k initial deposit unless u r someone worthy for the RM or the officer to act in your favor and in their own interest. The savings insurance requirements of say sgd 3k/month for example is a huge commitment which 99.5% of applicants can't fulfilling it and only those rich would find it reasonable to proceed. This is prerequisite requirement for the bank to access you that you are worthy for them to proceed with account opening and at the same time the bank staff do make some commissions out of the insurance propose. One stone few bird strategy 👍🤐

Leng Lui tend to have good luck?🤓

Same for me as well. Thanks to ShinG3e's advice, I now have a Maybank Singapore iSavvy Saving Account. Recently, the debit card and security token were sent to my home, and I have activated the access to Maybank Singapore online banking website. 

Are you sure its a She? 

Anyway, Congrats for your account opening with Maybank SG.

Congrats on opening,... 

What do you guys intend to do with your SG bank accts now ?

Suggest some good investments over at Sgp please. 

Something with lower risk. But FDs are only 1.28% max over in Singapore. 

Yep it was about 2 years back. Anyway you will need to renew your ATM card when expired, so matter of time you need to go back to sg.

Anyone here in Klang Valley successfully open a maybank sg account from the branch here ?

Ngam ngam done open a MBB sg, thanks ShinG3e for the advises and guides.

The parcel did comes with a token as well. Whats the function of the token? Like ours, more than 30k 50k then need token to approve?

Also, do you guys receive a debit card as well? and how long it takes to auto debit from msia mbb account?

Thx boss, then when the money will be auto debit to the sg acc ah?

You are lucky , and maybe you are a high net worth customer to Maybank Singapore.    I am just joking.

I never received any call at all from Maybank Singapore regarding my application status, and approximate date I would receive my Security Token and debit card.  I had to continuously call them, to follow up with my application status, and to ensure that I get the complete set of items (such as Access ID, PIN Mailer, Security Token and debit card).

Anyway, minor conveniences asides, I am now happy that I have a Maybank Singapore saving account. 
Regarding the debit card activation, I think that we cannot activate our debit card by sending the activation SMS, since we do not have our own Singapore mobile phone number. So, we have to personally call Maybank Singapore Customer Service Line, to activate our debit card.

It is not cheap to dial a Singapore landline number, but it is far better than travelling all the way to Singapore, just to activate the debit card over the counter in Maybank Singapore. 

Looks like there is a lot of conflicting infos out there. Let's look at DBSV first :-

1) DBSV does not have custodian arrangements, hence, it is always CDP-based account.
2) I've been offered many times at very attractive loan rates for Margin Accounts, though I am not a Sporean by nationality.

Secondly, many other banks/brokerages do open CDP-based Accounts for a foreigner, not only DBSV. UOB-KayHian is one of them. There are lots of others,....

Maybank KE - many will go after the low brokerage arrangement. Such low brokerage charge transactions allow one to own shares via custodian-ship. If one wishes to own shares DIRECTLY, ie with a CDP Number, then the brokerage will be higher.

ya, will see how it goes first...

S$ 5k is updated here under "how do I apply", http://www.maybank2u.com.my/en/personal/de...ings/savvy.page

But whenever, we remit from SG to MY, who is the one converting from SG to MY? DBS or the local bank? DBS TT rate.

If is DBS, whats the rate? check online for the latest rate.

If is local bank, even though DBS provide it free remit, the exchange rate still depends on the local bank.

For this (if you transfer amount is less than 10k), CIMB is better as it allows you own account to transfer between MY and sg without charges and have better exchange rate than maybank.

Btw, if we TT from malaysia to sg, they are using the sell TT rate to convert right? yes.

How about if we withdraw money at SG from MY saving account? say if we withdraw money from Maybank SG atm from Maybank MY saving account? what rate does it use? maybank SG rate.

hi there, wondering how long did you wait for your parcel? i applied the isavvy account on 17 Jan 2017, but until today still not yet receive anything. did call Maybank MY but they ask me refer to the branch that i open the account. Since the staff told me i have to wait around 1 month, so i didn't call them yet.

ShinG3e
When you wanna arrange TT at Clarke Quay for all who are interested in opening accounts in Singapore. Tips and tricks provided during TT.

Only condition is course learners must sponsor dinner at Hooters. 

a very bad news for me, Maybank SG just call me and they said they cant find any of my application . damn 

not sure what's happening , but the officer said she will keep me updated . mind to share what the officer tell u last time? when they call you

Sadly this doesn't belong to me, I have to wait another 14 working days because didn't sign the tax declaration form. Hopefully this time nth goes wrong 😅