Just like with HSBC and Citibank, u can see all global accounts but to operate the account, you have to log in from that country’s portal.. e.g. CIMB Malaysia can see balance of CIMB Sg but to transfer money out, u need to log in CIMB Sg

Any of you guys earning money abroad and direct deposit into SG account? Does the SG bank call you to ask where the funds are from, like the local banks do?

I earn RM and deposit into SGD every 3-4x a year.
I am a salaried man. Upon opening account they want bank statement and they will ask you where is money coming from.
Just be truthful to them and give them whatever they want.

Thanks.

Anyone depositing from other countries - US, Middle East, Aussie, Europe, UK?

Same procedure. Only more expensive if you TT via banks. Use fintech.

This post has been edited by Ramjade: Nov 2 2019, 10:50 AM

Sometimes, I do deposit in funds from Canada and Australia into my SG bank acct.. No issue at all.

I believe one's records with MAS has to be clean,... it's worthy to put in effort to preserve the good record with MAS.

you do this regardless if SGD is high or low? something like DCA?

so in SGD you trust? Why not other currency?

Yes. Cause over long term SGD>RM. So I don't need to do anything automatically SGD> RM.

SGD is my main currency. From there I convert to others via IBKR. If Malaysian govt don't block IBKR sure direct RM-> IBKR.

Do they call or ask for documentation on source of funds? Just want to be prepared and contactable. Thanks

This post has been edited by Mattrock: Nov 3 2019, 04:56 PM

No, they don't,.... the wire-transferred funds will just flow straight into your bank accts if all your details are right ? Well,... at least I have not had any problems when I wire-transferred back amts in the region of 6-figures.

Don't action-lar, bro,....

MAS will weaken the SGD soon !

Well I am just telling me what I am doing. If there is nothing to buy I just hold on to my cash until something comes up. And that is up I am doing. I hold very little RM nowadays. Nowadays I ma not limited to just SGD. Whichever country I see got potential I invest in it.

This post has been edited by Ramjade: Nov 4 2019, 12:20 AM

I wish to know what most of you guys do with your funds in Singapore. Just leave in FD, which is not much and hope for currency to appreciate?

I'm already trading SG Reits through local bank and US stocks using TD Ameritrade SG, so pretty much covered for those. Looking for other options. Maybe go for Priority banking and get RM to invest in some products? Not convenient for me to travel to Singapore regularly, so online options will be best.

If anyone willing to share ideas, apppreciated.

This post has been edited by Mattrock: Nov 4 2019, 09:44 AM

I don't travel. My SGD is used to fund interactive broker. Hence I am not limited to Sreits alone. I have a whole lot of options to pick. From there I can buy anything I like. All online.

Money park in SGD is basically rotting and I don't mind cash rot. This is because I keep it to buy when things are selling at a discount. When things are at a discount and you have no cash, you cannot take opportunity of it. Of course to do that you need to be OK with rotting cash. I know someone who cannot tahan rotting cash.

Avoid those priority banking. They are only interested in making money off you to the point they can sell you garbage.

This post has been edited by Ramjade: Nov 4 2019, 09:58 AM

Thanks. I will check out IB. I am also able to buy other stocks on my local cross border account, but charges are quite high.

I avoided using local brokers to buy foreign stocks. Not going g to give them free money for hike up exchange rate, commision, quarterly platform fees, dividend fees.

Buy sell btc like me. Each profit margin 1% .

That would be me !!

Let's see the results from Showtime again,... whether waiting like what you are doing now is right or always staying invested like myself is right,... but don't chg the goalposts-lar,...

Personally, my funds in SG, most of it SGX (most in Reits, Keppel, DBS)

But right now, I find SGX not very attractive, especially in Reits, just waiting only, dunno what to buy? (got suggestions?)

Yeah, me too who cannot tahan rotting cash

I was facing same delema. SG market expensive. Hop over to UK, and HK market
Better value for money companies there.