i transferred money from Maybank SG to CIMB SG to activate the account.

yeah, I think they got ask if you have other banks' acc in SG upon application

so if you don't have, and residing in MY, basically, only way is CIMB MY BSA...

maybe something missed out in between someone can fill up

if no other bank accounts in singapore, then you are right. need CIMB MY, though not necessary BSA.

I see. My bad. Incomplete information from my side earlier. Sorry.

This post has been edited by TOS: Jun 22 2020, 10:01 PM

Your answer can be found here.

Hi, I tried calling their branches multiple times but nobody pick up the phone. May I know what documents they need ya, other than the application form and IC?

Why do you want to link your CIMB MY to CIMB SG?

For transfer of funds?? I find it cheaper using Instarem

The initial deposit of SGD 1000 for account activation needs to come from an account under your name.

Ok, before I proceed, let me tell you something: Some of the branches may have moved or closed down or have their phone number changed. (At least for my case, the Butterworth SSC branch in Penang was relocated from the Jalan Selat area to the main Jalan Bagan Luar road further south, so the address in the application form was the old one and the phone number has changed as well).

You should NOT rely solely on the branch address and phone numbers stated in the application form without verifying the branch existence on Google Map, i.e. you need to so do some homework. I am not sure about your area, but in any case, don't follow the application form's address and phone number blindly.

Back to your question, for my case, I brought a lot of documents related to my university (I am still a uni student) such as my offer letter, hostel's address proof etc. but the branch officer said there's no need for them.

In the end, you only bring along:

i) Proof of Address (latest utility bill with your name and mailing address included) (For uni students or those without such bills, you may use your Maybank (they prefer other bank) account statement for the last 3 months)

ii) Proof of purpose to open account (some members here claim that it's optional, but I presented my IBKR account information, including the account confirmation letter and the activity statement and the counter officer accepted it). I believe submitting such documents will enhance your success rate of opening an offshore banking account, at least you show your willingness to co-operate with the bank and not hiding information.

iii) IC (they will print a copy if your IC and verify it, but you can bring along your own copy just in case).

iv) Your thumb. They will take your thumbprint electronically.

Different branch may have different ways of handling such applications, so it's still a good idea to call them in advance. In case you do not know, most branches close earlier during the RMCO period. In my area branches close at around 2:30 to 3p.m.. (They no longer close at 4:30 p.m., which's the usual case). So, you may want to call them in the mornings.

This post has been edited by TOS: Jun 24 2020, 05:47 PM

Many thanks Ramjade!

Thanks for the informative post! Just want to ask, if I transfer 1k SGD just to activate and take out, are there any charges?
My only problem is I don't have friends in SG so I don't know where I should get the 1k from

Just use Cimb MY to trasnfer first time.
If you withdraw back to malaysia you are just inuring extra forex loss for yourself.
Can withdraw. But the question is where are you going to put it?
You can leave like sgd10 inisde. I have never leave sgd 0 inside cause I don't want them to close my account. Keep in mind if lots of people does that sooner or later cimb going to implement fall below price. So pandai-pandai.

I have a noob question here on CIMB SG. What should I put as the "purpose of payment"? I can't find any meaningful options.

---

Perhaps this is the reasonable one - "Other Investment" -> "Placement/withdrawal of deposits of residents with/from financial institution abroad"?

This post has been edited by kiawin: Jun 25 2020, 03:14 PM

yup. thats good enough

Just to reconfirm during the initial transfer of $1k SGD, does it have to be from an account under my name? I do not own any SG bank accounts, am trying to find friends who can do the transfer for me.

Abit worried that the money gets stuck there during the activation process and there's no way to retrieve it. Thanks for your time.

yup. at least sgd 1 from ur own account. the rest can be from other sources. this is according to someone who recently opened an account.

Some other guy said it has to be from an account under your name. Upon rereading the Terms, I quote:

Applicants not using MyInfo, transfer via FAST $1000 from your personal account under another bank in Singapore.

Does this mean it wont get approved if I somehow find an alternative cheaper method to transfer 1000? Cimb rates 3.15 is a killer atm.

Yes must be under your name. Part of Cimb KYC
If you want the safest use Cimb MY to do the first transfer of SGD1k. Subsequently you can use instarem/bigpay etc.

Do we use CIMB Clicks Singapore app to perform transaction, or we can use CIMB Clicks Malaysia to perform transaction?

CIMB sg.