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Opening a Bank Account in Singapore
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polarzbearz
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 Dec 20 2020, 03:55 PM
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QUOTE(doomx @ Dec 18 2020, 05:01 PM) 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 There's no minimum holding required in CIMB SG at least as of today. Not sure about dormant period but just keep good practice to have minimum 1x deposit / withdrawal transfer every quarter. |
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Ramjade
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Dec 20 2020, 10:08 PM
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QUOTE(Spiv @ Dec 20 2020, 03:40 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. Yes but very bad rates. Just drop wallex an email and see how. |
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mikhailcbh
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Dec 22 2020, 09:09 AM
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Getting Started
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My main purpose is to open a CDP account in SG. I understand we cannot do that with CIMB SG right?
Despite the MBB SG account opening form list the branch near my town (east Malaysia) can process the account opening, the staff there seems blur and not really helpful...
Will Maybank main in KL able to help on this?
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Ramjade
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Dec 22 2020, 10:49 AM
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QUOTE(mikhailcbh @ Dec 22 2020, 09:09 AM) My main purpose is to open a CDP account in SG. I understand we cannot do that with CIMB SG right? Despite the MBB SG account opening form list the branch near my town (east Malaysia) can process the account opening, the staff there seems blur and not really helpful... Will Maybank main in KL able to help on this? You go to the bank, you print out the pdf form, filled it up and tell the front desk person you want to meet the person in charge of opening Maybank sg isavvy account. Aka them call HQ if they still blur. Forget about opening CDP account. Not useful to Malaysians. Just use FSM sg or tiger brokerage for sg market. |
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Candylyn P
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Jan 6 2021, 02:26 PM
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New Member
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QUOTE(!@#$%^ @ Nov 28 2019, 05:47 PM) applied for isavvy on 14 nov at KL main branch. received the successful otp registration today. looks like it's approved. Hi,may i know if you are already an existing maybank user before request to open isavvy account? Im from sarawak,last year during somewhere dec i walk in to the "said branch" and they told me that only premiere account holder only can apply for isavvy,starting they keep say no such thing unless u fly to singapore to open,after i said for trading pyrpose then they mention about premiere acc/ not their branch etc. Was wondering how u apply urs,sounds so easy ? And one more question,is isavvy under MAS? cuz i wan to apply for sgx dbs acc,aso not sure if this one is qualified singapore account or not |
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Candylyn P
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Jan 6 2021, 04:54 PM
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New Member
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QUOTE(Ramjade @ Jun 11 2019, 06:45 PM) Precisely. Keep $500 lock up is better than RM200k in Malaysia and SGD300k in SG just for SG bank account. Unfortunately,i went to maybank and this is what they told me,even having 250k aso not warranty can get approved,lol. Im not sure if this is sarawak rule,or now maybank change their limit dy,my cdp got stucked now,sgx change into cheque free,unless doing tt,otherwise all dead. |
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Ramjade
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Jan 6 2021, 06:29 PM
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QUOTE(Candylyn @ Jan 6 2021, 04:54 PM) Unfortunately,i went to maybank and this is what they told me,even having 250k aso not warranty can get approved,lol. Im not sure if this is sarawak rule,or now maybank change their limit dy,my cdp got stucked now,sgx change into cheque free,unless doing tt,otherwise all dead. Of course it's not guaranteed. It's up to Singapore side to decide to approve you or not. Just fill up the firm, bring it to Maybank side, buy a banker cheque under your name for SGD500 and let Maybank settle everything. |
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kendo88
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Jan 10 2021, 03:37 PM
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New Member
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Hi all, just wanna to check with those with cimb my/sg accounts.
Did the bank recently block off the instant conversion/transfer between the myr and sgd account?
Wanted to transfer some myr to sgd couple days ago, but was not able to do so, when asked the bank staff, they told me they suspended this feature recently. Have to go through the TT method now.
Is it true?
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Ramjade
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Jan 10 2021, 05:43 PM
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QUOTE(kendo88 @ Jan 10 2021, 03:37 PM) Hi all, just wanna to check with those with cimb my/sg accounts. Did the bank recently block off the instant conversion/transfer between the myr and sgd account? Wanted to transfer some myr to sgd couple days ago, but was not able to do so, when asked the bank staff, they told me they suspended this feature recently. Have to go through the TT method now. Is it true? Avoid using cimb my to transfer money. Use fintech like money march, instarem, bigpay, TransferWise, Sunway money. |
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pu27
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Jan 10 2021, 07:34 PM
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Getting Started
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Is it useful at all having a SG bank account in terms of saving charges in funding and withdrawal from TDA?
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rexus
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Jan 15 2021, 10:26 AM
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QUOTE(Watta?? @ Dec 9 2020, 08:25 AM) 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 Currently facing the same problem as well where everything seems to be approved except I have yet to receive my login for CIMB SG. Mind sharing where you address your email to? |
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mjchua
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Jan 22 2021, 11:12 AM
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Getting Started
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For the CIMB SG account linking to CIMB MY. After approved,
1. can see the CIMB SG under "Transfer Money"
2. cannot see the CIMB SG under "My Accounts" - Is this normal ? or need to wait for 1-2 days ?
For Instarem, just can transfer money from RM to SGD
Can we transfer money from SGD to RM ? How about TransferWise ?
This post has been edited by mjchua: Jan 22 2021, 01:43 PM
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47100
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Jan 22 2021, 02:04 PM
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QUOTE(polarzbearz @ Dec 20 2020, 03:39 PM) 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  hi , do you happen to know if HSBC premier in SG, has foreign cash withdrawal function? example, i have a EUR account with HSBC, and i want to withdraw EURO in cash at Singapore HSBC branch. in MY, we can not. Thanks. |
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Watta??
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Jan 22 2021, 04:07 PM
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QUOTE(rexus @ Jan 15 2021, 10:26 AM) Currently facing the same problem as well where everything seems to be approved except I have yet to receive my login for CIMB SG. Mind sharing where you address your email to? i emailed to this address atyourservice@cimb.com |
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polarzbearz
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Jan 22 2021, 07:03 PM
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QUOTE(47100 @ Jan 22 2021, 02:04 PM) hi , do you happen to know if HSBC premier in SG, has foreign cash withdrawal function? example, i have a EUR account with HSBC, and i want to withdraw EURO in cash at Singapore HSBC branch. in MY, we can not. Thanks. Not very sure with this as I haven't really explored further with HSBC Premier |
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Ramjade
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Jan 23 2021, 12:59 PM
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QUOTE(47100 @ Jan 22 2021, 02:04 PM) hi , do you happen to know if HSBC premier in SG, has foreign cash withdrawal function? example, i have a EUR account with HSBC, and i want to withdraw EURO in cash at Singapore HSBC branch. in MY, we can not. Thanks. All Singapore banks allow you to withdraw foreign cash. You need to pay 1) 1-2% in withdrawal fees 2) markup exchange rate Your choice I wouldn't bother with withdrawing foreign cash in Singapore especially when they have lots of good overseas travel card from revolut, instarem, transferwise and revolut. |
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47100
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Jan 23 2021, 04:44 PM
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QUOTE(Ramjade @ Jan 23 2021, 12:59 PM) All Singapore banks allow you to withdraw foreign cash. You need to pay 1) 1-2% in withdrawal fees 2) markup exchange rate Your choice I wouldn't bother with withdrawing foreign cash in Singapore especially when they have lots of good overseas travel card from revolut, instarem, transferwise and revolut. Thank you for your input, good info. Reason I ask because in HSBC China bank , u can withdraw foreign cash at no additional cost. I wonder does it works the same at other places too. |
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y2kie
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Jan 23 2021, 08:43 PM
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New Member
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Hi sifus out there. I have just successfully applied cimb fastsaver last week. However i face issue when i try to transfer fund as it prompt security device OTP which i don’t have. I tried to applied digital token but it shows failed to load push device token. May i know if anyone face this issue before?
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aubergine6958
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Jan 26 2021, 12:52 PM
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Getting Started
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QUOTE(mjchua @ Jan 22 2021, 12:12 PM) For the CIMB SG account linking to CIMB MY. After approved, 1. can see the CIMB SG under "Transfer Money" 2. cannot see the CIMB SG under "My Accounts" - Is this normal ? or need to wait for 1-2 days ? For Instarem, just can transfer money from RM to SGD Can we transfer money from SGD to RM ? How about TransferWise ? Same with my problem. When I click on transfer, the "transfer from" is only available for my Malaysia account but not the Singapore fast saver |
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MilesAndMore
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Jan 26 2021, 09:56 PM
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Look at all my stars!!
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QUOTE(47100 @ Jan 22 2021, 02:04 PM) hi , do you happen to know if HSBC premier in SG, has foreign cash withdrawal function? example, i have a EUR account with HSBC, and i want to withdraw EURO in cash at Singapore HSBC branch. in MY, we can not. Thanks. It's doable with HSBC Premier (HK), HSBC Jade (HK) and HSBC Private Banking (HK) and it is free of charge. You can order the foreign currency online via their online banking portal and they shall have it ready at your preferred branch. |
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