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 Opening a Bank Account in Singapore

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john123x
post Aug 29 2023, 06:00 PM

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i read past posts of this topic and it got me wondering

any reason why you guys prefer fullerton SGD over fullerton USD?

isnt usd better? i last check the interest is 5.2643% (7d Annualized)

john123x
post Aug 29 2023, 11:47 PM

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del

This post has been edited by john123x: Aug 30 2023, 01:05 AM
john123x
post Aug 30 2023, 08:25 PM

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del

This post has been edited by john123x: Aug 31 2023, 12:11 AM
john123x
post Aug 30 2023, 09:03 PM

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QUOTE(gooroojee @ Aug 30 2023, 08:43 PM)
You might get stuck at Tiger to MBB, even though MBB is Tiger bank.. ironically.. hahaha
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could you explain why?

Tiger is safe, its like moomoo, regulated in Singapore. I dont see any need for concern.
john123x
post Aug 30 2023, 09:16 PM

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QUOTE(gooroojee @ Aug 30 2023, 09:09 PM)
Nothing wrong with Tiger Brokers, but they want a bank statement before allowing fund withdrawals to that bank, and I assume you're using iSavvy, which doesn't provide you a bank statement...
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thats not true. I add Bank Account (for withdrawal purposes), it didnt ask any bank statement. maybe my situation is different from most people, because my initial deposit is from Wise.

EDIT: you dont send from WISE to Tiger, it will get rejected. You initialized Wise Transfer from inside Tiger App

and the "Test" withdrawal process take only 3 hours. i apply withdrawal at 2.45pm and i got it in my SG account at 6pm.

This post has been edited by john123x: Aug 30 2023, 09:19 PM
john123x
post Aug 31 2023, 04:28 PM

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ocbc getting on my nerve, over 30 tries and still fail...
john123x
post Aug 31 2023, 10:47 PM

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ocbc sg

my trick

i put my IC between my two fingers (and disregard the nonsense put on dark background because i am so pissed off earlier)
john123x
post Sep 7 2023, 01:40 PM

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QUOTE(unkaleong @ Sep 7 2023, 01:01 PM)
My bank issued token has failed (OCBC). I have been trying to register my Malaysian mobile number to receive TAC, but unable to do so. Do I have to request for this over the counter?
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QUOTE(Ramjade @ Sep 7 2023, 01:35 PM)
Download the ocbc app? Alternatively give them a call.
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user posted image
Ramjade is right, nowadays OCBC uses "OCBC OneToken"

Remarks: i accidentally setup onetoken on wrong phone (old phone), i have requested the 6 digit Token Key (sended by slow mail) on 1 Sept.

and i am still waiting for it.

This post has been edited by john123x: Sep 7 2023, 01:41 PM
john123x
post Sep 9 2023, 11:38 AM

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del

This post has been edited by john123x: Sep 9 2023, 11:38 AM
john123x
post Sep 11 2023, 03:34 PM

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i am still waiting for my cimb sg....


QUOTE(lilsunflower @ Aug 29 2023, 09:43 PM)
Just sharing my recent experience trying to open a CIMB SG account.

I already have a CIMB MY account and applied for CIMB SG on 13 August. The form filling was easy and the account was created on the same day. I transferred SGD1k from my DBS SG via Ifast and also applied to link my CIMB MY account and CIMB SG account.

Accounts were linked on 16 August and I transferred SGD5 from CIMB MY to CIMB SG.

Note that my account had been created but not approved.

On 16 August I received an email from CIMB SG asking for my bank statement showing proof of salary crediting. I provided this and also reiterated that I am an existing CIMB MY and DBS SG account holder and had made transfers in via both accounts.The email also asked my intended purpose for opening the account. I responded saying I wanted to open the account for investment, depositing SGD and spending for personal use during visits to Singaporean.

8 days passed without any response.

On 24 August I sent a follow up.

On 29 August I received an email asking for proof of investment in SG. I responded saying that I already told them that my intention is for investment (such as FD deposit in SGD) and how can I prove my future intention when the account is not even opened?

Very frustrated at how long and nonsensical this process has been. I'm really regretting opening this account and now have SGD1005 stuck there, and a very slow and inefficient account opening team. I just hope they will give me my money back if they disallow my account opening.
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your story scares me...

EDIT: Ziet videos didnt mentioned anything about issue that you experienced. I already said ziet videos are outdated, no one believe me, and everyone insulted me.
QUOTE(lilsunflower @ Aug 29 2023, 09:58 PM)
Yours sounds so easy.

I'm asking them to cancel my application and return my money if they're gonna make this so difficult for me. Will stick with DBS.
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just asking, have you receive back your money? I just want to know the expected refund time frame...

This post has been edited by john123x: Sep 11 2023, 04:36 PM
john123x
post Sep 11 2023, 08:05 PM

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QUOTE(fishermanG @ Sep 11 2023, 07:12 PM)
Just opened Maybank iSAVvy Savings account via Maybank2U MY. Got the SMS to setup online banking (maybank2u sg) etc. Deposited $200 via Wise to try out first. No issues. All seems smooth so far.

Questions:
1) Why does the mobile app prompt SMS OTP every single time I tried to login? Secure2U is enabled though.
2) I was testing to send the SGD to my own Maybank MY account (to enjoy zero fees/commission) but it gave me this error "Transaction Signing error... please contact Maybank etc..."

Do I need to wait a couple of days to enjoy the full online banking experience?

Edit: formatting
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1. I think Secure2U needs time to fully activate (i think 24 hours)
when its active, you no need SMS OTP to login.

an activated secure2u can log into maybank website very fast:
1.maybank website, click the QR picture
2.maybank app, Scan Icon, select "Scan QR and login", scan QR
3. approve secure2u notification at app

john123x
post Sep 12 2023, 02:05 PM

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QUOTE(TOS @ Sep 12 2023, 01:48 PM)
I made a mistake. Was too excited yesterday lol

My Frank account was finally set up today. And yes, you can open monthly savings account from the online banking portal.

» Click to show Spoiler - click again to hide... «

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are you a SG resident or working in Singapore?

I dont think its possible for Non resident to apply for Frank

This post has been edited by john123x: Sep 12 2023, 02:07 PM
john123x
post Sep 14 2023, 06:39 PM

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i guess i can open only Maybank

CIMB (they been chasing for lots of documents) and OCBC (my mistake i activate OneToken on the wrong phone, and now i still waiting for Token Key after 2 weeks) will be hard to get for me
john123x
post Sep 22 2023, 06:57 PM

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at last, i managed to get open all 3 maybank, cimb and ocbc....

its really hard work.


This post has been edited by john123x: Sep 22 2023, 08:04 PM
john123x
post Sep 22 2023, 11:42 PM

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QUOTE(TOS @ Sep 22 2023, 11:13 PM)
Be careful with Maybank SG. My debit card was "hacked" for some reason in the past and some Latin American companies drew blood from it, forcing me to call the SG card center to halt the card and chase back all my stolen cash. Account close since I come to SG. No such issue with CIMB SG (no card issued anyway), and DBS.

I use my card very conservatively, not buying anything online apart from air tickets and MRT/buses in SG or occasionally NETS payment for SG hawker food, no usage of ewallets/Google Wallet/Samsung Pay/Apple Pay etc.

At least that is the case for now.
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any way to disable the card only?

i have check all options web and app classic, but i cant find it.
john123x
post Sep 25 2023, 03:12 PM

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user posted image
Thank you Gray, hope you get it too.

john123x
post Oct 17 2023, 11:05 PM

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QUOTE(abcn1n @ Oct 17 2023, 08:30 PM)
Welcome. Tiger commission high. $2 per transaction. Moomoo Malaysia not functioning yet.
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tiger isnt that bad.

it may look bad, but if you take consideration that tiger gives lots of vouchers... it kinda balanced it out

until 31 mar 2024, tiger have option pricing promo, 0.65 per option

QUOTE
The Ultra-low US Options Fees Coupon will take effect immediately after activation. Its effect will be applied on all US options trades within the Campaign Period.

Reward valid period: from the date of activation until 23:59 March 31, 2024

Activating the Ultra-low US Options Fees Coupon will reduce commissions on only US options trades to USD 0.35 per contract with no minimum fee while platform fees will be USD 0.3 per contract with no minimum fee.


john123x
post Nov 19 2023, 12:54 AM

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QUOTE(heLL_bOy @ Nov 18 2023, 06:11 PM)
Tried only maybank works for now. there is no transaction fee between same bank.

Others bank listed still not working may wait next few days see whether it works or not.
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more info please

maybank sg app scan maybank my app
OR
maybank my app scan maybank sg app

and hows the forex rate? is it competitive?
john123x
post Nov 20 2023, 02:57 PM

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https://soyacincau.com/2023/11/20/malaysia-...duitnow-paynow/

https://ringgitplus.com/en/blog/personal-fi...-transfers.html

soyacincau and ringgitplus have release news of MY-SG payment linkage

most important info is: is the forex rate better than WISE?

QUOTE
Maybank is currently waiving the service charge to utilise this feature which the bank called the DuitNow Overseas Transfer.


i also will do experiment when i am free



This post has been edited by john123x: Nov 20 2023, 03:11 PM
john123x
post Nov 20 2023, 03:05 PM

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user posted image
the above info from ringgitplus

i have maybank MY, TNG, maybank SG and OCBC SG

here is probably to do research:
- research LiquidPay - must have thailand or singapore phone number
- Maybank MY scan Maybank SG - show invalid QR
- Maybank MY scan OCBC SG - show invalid QR
- TNG scan Maybank SG - show invalid QR
- TNG scan OCBC SG- show invalid QR
- Maybank SG scan Maybank MY- show invalid QR
- Maybank SG to TNG -Not implemented yet
- OCBC SG scan Maybank MY- show invalid QR
- OCBC SG to TNG -Not implemented yet

i dont know how it works.
fyi:my Malaysia duitnow and singapore paynow is using the same number....

i found it:
MAE MY App/Transfer/Oversea tab


user posted image

Transfer SGD1000:
-Wise : fee 26.14 total: 3511.04
-MAE total: 3486.75

summary: its cheaper than WISE because WISE charges fee

This post has been edited by john123x: Nov 20 2023, 06:12 PM

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