I just declared yes. Source is my local taxed salary, nothing to hide.

I have been transferring money from CIMB MY to CIMB SG weekly.

Will it be a problem with the authority? Is there any limit?

how much are you transferring weekly?

i think they should have a trigger point of the cumulations of transferred amount....
just not sure of the amount during the cumulation cycle time

Why use banks when Fintech is cheaper?

He wanna give banks earn

Have been doing like 5k /week. Just afraid it will trigger some authority.

Now i plan to use InstaReM. Is there a limit how much you can transfer to SG bank?

thanks for sharing...5k/weekly...hopefully it is not "long" duration....
yes, I think it will trigger some sort of query in the long terms...1 mth 20k, 10 months 200k, etc etc...
but if into personal a/c, the income is taxed in M'sia and the income from the S'pore are reported,...I think not much of a problem to be queried...

This post has been edited by MUM: Mar 2 2020, 08:33 AM

I don't think there is a limit for receiving SGD. So the limiting factor is converting MYR and sending SGD via Instarem.
Daily limit is RM30,000 for individual and RM200,000 for business. More info here.
When in doubt, call them up.

did not state the limit though...
need BNM approval...

Guide to the exchange control rules
https://www.bnm.gov.my/index.php?ch=en_pres...ac=2990&lang=en



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may that's is why after the "enforcement" it is now mentioned in our income tax submission?
as per

i already registered the fast saver account, then transferred sgd1k over, but now they asking me for employment pass, which i do not have. what should i do now?

wow new rule?

macam new rule.. damn man i already transferred 1k.. but now they say asking my EP front back scan copy.. i say i don have how? they say u need to have.. shit..

loophole closed. I suppose have to close the account and transfer out? hope doesn't affect the previous account holders

cant transfer out becos cannot register account. can see inside my CIMB account only.

This post has been edited by ben3003: Mar 5 2020, 01:50 PM

I mean contact cimb sg as close officially

any updates on this?

yea .. just received my internet banking activation code.
Applied on 25 Feb and SGD 1k transferred on 27 Feb.

y so slow? usually few working days only. they asked for employment pass etc?

dunno why so slow, they din ask for any documents
just a call a week after my application, ask purpose of this account opening and told me my account opening is subject to approval.