The news with the one who kena tangkap holding so much foreign currency really 
This applies to unemployed Malaysian also. But I don't think all banks that strict.

There is definitely a back channel for such things. Just not publicly available to normal citizens. 

If a person wants to open an account just for the sake of opening it, then malaysia has forex account also.

Also, for forex share investment, it is not worth the effort for small timer to go to Sg. I think the local platform is more cost efficient and less effort to get involve in foreign currency stock investment

1. One largest bank RM told me it is central bank directive that no more FCA account wil be allowed to be open. But I'm not sure whether this is apply to all or "very special" Priority customers still able to open cause I'm not seeking further clarification from him. What I can sense is, it is extremely not easy to open unless you have say RM500k above and it is their active customer that support them with DCI or purchase bond etc yet still need RM to act in favor of you.

2. Open sg account still possible for non resident but very tough, u need to heavily commit say with few hundred thousand sgd deposit or e.g. Buying a saving insurance from the bank with e.g. Sgd 3k monthly premium. (This is someone real encounters)

3. Opening e.g. Sg mbb account via local Mbb is possible but I think is not applicable to everyone and the process takes very long time. Opening sg mbb fca is some what more difficult unless again u r bank very worthy customers.

4. And more..

Yes. Although same parent company, the same bank in Malaysia and Singapore are two separate entities. So the local bank can recommend, but it is up to the Sg bank to accept.

I heard HSBC can open overseas branch accounts right in Malaysia. I never tried though so I am not sure.

Rich people always are welcome and given privilege. The banks in Singapore will still welcome preferred/privileged/premier customers. The ballpark figure is US$300k thereabout. Or like you said, buy a big insurance policy.

For those who are small timer, it is arguable whether it is worth the while to open and maintain the forex account and trading platform in Sg. It may be more cost effective to use a local trading platform first and then when he grows bigger, only consider shifting to Sg.

Wah. I am not trader. I am aiming to for dividends only. Don't sound like it can apply to me.

Wait. Singapore have SGD10k? I thought the biggest is SGD1k? My God. I didn't know. Now only I know.   But wonder local money changer have SGD10k note or not...

10K note is no longer produced since 2014, but still legal tender. Still have some floating around. 

Leng Lui tend to have good luck?🤓

you're welcome. good stuff need to share. 

linked to brokerage account to receive dividends. 

S-REITS, their UT (much superior than ours), access to worldwide ETF.

disclaimer: not a buy call. trade at your own risk.

Guys,.. if got 'tricks',.. better to use PM. When Sgp authorities keep seeing 'tricks' here and there,.. soon, they will set the criteria very high for opening and for maintaining an SG Acct..

so easy to open CIMB Fastsaver,now need to find RM 3k+ to fund this account within 30 days lol

What are the perks ? Or how can one reap the highest benefits from putting in SGD 200k?

How's the service compare to malaysian priority banking?

Thank you very much for your generous advices as always, Hansel. We, newbies, have so much to learn from you. 


One question: I have a Standard Chartered JustOne Personal Account (saving account cum current account) in Malaysia. With that, does it make it easier to open a Standard Chartered saving account, and trading account in Singapore?

Thanks again for your advice. 

SCB is as good as gone case. Went to 3 branch (woodlands, battery road, mbfc) refuse to open for me just because I am a Malaysian. They told me MAS have tighten the rules in opening account ESPECIALLY AGAINST MALAYSIANS starting last year. The future looks dark for us if we want to open account in other country seeing that MAS has started to act against us.

You cannot open online trading account without a SA. I told them I don't need your SA, I just want the online trading account. Told me no.

Told me I still can qualify for a eSaver account if I have either one
1) UT with them SGD50k at 3% SC (some branch do not accept this)
2) Mortgage
3) Endowment plan SGD500/month for 5 years. Can only withdraw at 10th years. Expected returns 3% pa
SGD400/month for 10 years. Expected retuns 3.8% pa

I wonder if I can email MAS and complain that SCB did not let me open online trading account without a must for their SA.
Can use cimb SG (which I think is better than Maybank). Another way to transfer the money globally at cheap rate: Transferwise. Only drawback cannot transfer MY > SG but no problem with SG > MY.
Is out of question. They refuse to open online trading account without the saving account. The sabing account is a must.

Going for OCBC360 savings account. Went to open the account last month, they want me to prove mailing/residential address.

Okay.

Interest rate is less important for my purpose as I don't intend to keep so much money there. I only want to keep the bare minimum to maintain the account.

Which is quite cheap and affordable but lousy return. Case point SCB.

Same here. Will leave nohing inside my SG account.

SCB told ms SGD500/month and ony get 3% pa for their insurance plan for 5 years  Told them straight in the face, no I am not interested in your insurance plan as insurance plans give miserable returns.

The power of government cooperation.  Wonder if MAS and BNM will cooperate to prevent Malaysians from further opening account...

since we need to park money at that account.. isit wise to open an FD account at sg bank?

They seem to keep increasing minimum deposit amount before charging maintenance fee; my DBS minimum is only SGD1k; n previously only SGD500

Hmm, CIMB cannot open SG account anymore? Just last year or the year before can open a CIMB SG account through CIMB Msia; don't even need to go to SG physically. Link to cimbclicks Msia even

I don't really bank with Citibank, so no status la, status borrower only

Oh, is that the catch? I never know that. But the SGD1k transfer did take place for the account I was talking about. The transfer was made from a third party account

I email Cimb. The FAST trasnfer must come from another Singapore account in your name. Third party, TT won't cut it. It's even stated on their website.

FAST is more like our IBFT if not mistaken.

No, you must transfer from your own name account, meaning you must have already hold a singapore SA to FAST transfer to CIMB fastsaver to open the account