This is advanced stuff for me. Let me ping Ramjade polarzbearz. You can also ask others here.

But one thing is certain, opening USD account in Singapore by a foreigner certainly involve tonnes of due diligence by the bank.

if you mean the AML (Anti-Money Laundering) forms, then I'd say it's the same anywhere

I've tried calling Maybank SG and was told it could be done in branch only ... but trying to see if there's a way I can do it online OR if another SG based bank has this service ?

This post has been edited by corad: Dec 8 2020, 09:07 PM

Might need to give them a call if you want them to check your application.

Probably have quite a few applications and a friend had to call in after waiting a week in middle of November.

yea got it! was tired of waiting so i dropped them an email and got my account approved within an hour after dropping the email

Maybank SG is a bit outdated. So just wait until borders are open.

Wrong. I use DBS My Account. Keep only SGD10 inside and can received multicurrency. New and improved multicurrency account. Issue is I don't know how to move USD without incurring charges in SG. I know you can use cheques but digitally don't know.

Suddenly something new come out.

Never heard of DBS My account. Can Malaysian open for investment purposes? Better than CIMB SG and Maybank SG?

I see from the requirement for foreigners only for work, study and some visas/permits. And it seems like there is $10 charges for inward remittance like Maybank SG.

https://www.dbs.com.sg/personal/deposits/sa...unts/my-account

You need to be there physically. Subject to approval by banks. I went in when 1mdb saga was released. Waiting time took me around 3-4 hours just to open account.
Considering no income tax that time. And need to fork out SGD3k one shot.

Sg USD movement not as good as HK. I know HKD can just move it like our IBFT.

Never tried so cannot really comment I'm exploring something else also as I'm still finding ways to hold USD/EUR or GBP but haven't found a cheap/fast/easy ways yet

You can try revolut. Cant wait for them to set up shop in Malaysia.

haha, is there a way to open a DBS account online ?

Yes if you have singpass or Already have bank account with DBS (I opened mine via online cause I already have existing account with DBS).
Other than that I think no.

Hi everyone,

Here's a step-by-step guide (YouTube video) to open a CIMB Singapore account from Malaysia.

Hope this helps!

Possible to open account with HSBC Singapore? If you are a premier banking customer in Malaysia?

I would like to thank the many ppl here for helping and writing out guide for opening bank acc. Got mine open in a week .everything smooth sailing

just wanted to know, now that i have the 1k SGD in CIMB, can i withdraw everything or there is a min balance to keep so that the acc remains active

Need advise from all big bro and sis here. I am giving talks over zoom and teams. My customers are foreign companies. Currently they send money direct to MY bank. I wanted to use transferwise but unfortunately now i can only send money instead of receiving. I am thinking of getting DBS SG account but I am not an employee nor student and no existing Singapore bank account. Who can give a good suggestion to receive multi-currency.

Avoid. Cause if you use PB banking way you need to park RM250-300k in FD or some crap stuff by banks. Waste of good money.

Just open Transferwise Business account.

I did open Business. Not sure if i need to wait or this is not a doable.



This post has been edited by Spiv: Dec 20 2020, 01:11 AM

Opening dbs account require you to travel to Singapore. You need to be physically there and is subject to approval. I opened mine up last time by opening dbs Vickers with them (can only be done at HQ). If you walk into any dbs bank, they will reject you straight away.

One fintech I know can receive USD is wallex. I have never got around to opening an account with them before.

If you're already a HSBC Premier holder, you can open foreign account but need to first validate via any HSBC Branch or your Relationship Manager then they'll route it to International Banking Centre (IBC) to take over after thumbprint verification.

There's no premier fees in other country - since the qualification comes from Malaysia (>250K holdings, Perks@Works, or >1mil mortgage loan with HSBC). But there might be minimum holdings required depending on country you're opening the account. Note that you can only open Premier account overseas, not basic ones, via the Premier International banking feature.

Tho for Singapore I'd rather to go with CIMB route since it's practically free and you don't have to worry about premier status or minimum holdings; or Maybank which only requires $1K SGD holding

This post has been edited by polarzbearz: Dec 20 2020, 03:39 PM

Thank you for the advise but now cannot go there yet.

Does local bank can accept multi-currency?
Last time i talk to MY citibank they need to have 3k USD opening account for receiving USD and other equivalent amount for other currency.

This post has been edited by Spiv: Dec 20 2020, 03:42 PM