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 Opening a Bank Account in Singapore

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Hansel
post May 24 2021, 03:44 PM

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QUOTE(Ramjade @ May 24 2021, 03:14 PM)
I don't visit branch so why should I keep up about how many branch they have? Besides I don't use Cimb debit card. I only use Bigpay in Singapore.

Bro there's bigpay. You don't even need to convert. It will charge you close to moneychanger rate. Acceptable anywhere they accept cards. Coming soon Revolut and MyMy.
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There is news you can keep up with, don't need to know just because of visiting branches.

Different people use different things,...

Tq for your info abt Bigpay,... I don't worry too much abt conversion,.. I have a lot of SGD to use and no chance to use now except for buying investments.
nicemamak
post Jun 4 2021, 06:06 PM

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Which bank in Malaysia can save in foreign currency like SGD, RMB etc?

Which bank is better as well as interest earn? OCBC?
SUSxander83
post Jun 5 2021, 01:43 AM

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QUOTE(nicemamak @ Jun 4 2021, 06:06 PM)
Which bank in Malaysia can save in foreign currency like SGD, RMB etc?

Which bank is better as well as interest earn? OCBC?
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Most banks has dual currency account but the easiest to apply at the moment would be OCBC, HSBC or HLB

With current rates are so low you can forget about interest as most of this account transactional function

Pm me your telegram Id if you need further info on it rclxms.gif
anonymous552235
post Jun 6 2021, 04:38 PM

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This post has been edited by anonymous552235: Jun 6 2021, 04:41 PM
whycanot323
post Jun 11 2021, 03:30 PM

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hello guys, SWIFTCODE for CIMB SG is CIBBSGSGXXX and Maybank SG is MBBESGS2XXX.
is it correct ? need to fill in during sending money in Sunway Money form ~~~
Ramjade
post Jun 12 2021, 12:11 PM

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QUOTE(whycanot323 @ Jun 11 2021, 03:30 PM)
hello guys, SWIFTCODE for CIMB SG is  CIBBSGSGXXX and Maybank SG is MBBESGS2XXX.
is it correct ? need to fill in during sending money in Sunway Money form ~~~
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Suggest you drop he Bank customer service an email to get the right SWIFT code.
Sumofwhich
post Jun 13 2021, 04:34 PM

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Any high yield interest rate savings/current accounts for SG banks?

Like Ocbc 360, how much is their interest now?
thanks.
Ramjade
post Jun 14 2021, 10:44 AM

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QUOTE(Sumofwhich @ Jun 13 2021, 04:34 PM)
Any high yield interest rate savings/current accounts for SG banks?

Like Ocbc 360, how much is their interest now?
thanks.
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You can forget about it as you need to spend with their cards and pay bills with it unless you are in Singapore.

Go open stashaway simple or equivalent.
Mr.Weezy
post Jun 24 2021, 12:50 PM

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Anyone got experience on linking CIMB SG to CIMB Malaysia so that can wire transfer from CIMB SG directly to CIMB MY?

How long does it take for this to be approved?

Been 2 long days bye.gif


user posted image
QUOTE(Ramjade @ Jun 14 2021, 10:44 AM)
You can forget about it as you need to spend with their cards and pay bills with it unless you are in Singapore.

Go open stashaway simple or equivalent.
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Btw I plan to keep some SGD in my CIMB SG, other than Stashaway Simple, what other instruments best to park SGD with minimal risk?

nicemamak
post Jun 24 2021, 02:32 PM

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QUOTE(Mr.Weezy @ Jun 24 2021, 12:50 PM)
Anyone got experience on linking CIMB SG to CIMB Malaysia so that can wire transfer from CIMB SG directly to CIMB MY?

How long does it take for this to be approved?

Been 2 long days  bye.gif
user posted image

Btw I plan to keep some SGD in my CIMB SG, other than Stashaway Simple, what other instruments best to park SGD with minimal risk?
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I linked CIMB Malaysia with CIMB SG. It took around 2 business days



I have the same thought as u that want to park some fund in SGD. The interest rate in SG is very low. No appetite at all. I keep the fund in SG REIT. Hopefully it is the right move. Wish to hear from experts to share too
gunpla student
post Jun 24 2021, 02:37 PM

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QUOTE(chopper~ @ May 30 2010, 09:31 PM)
hi all, im a malaysian, not studyin nor working in sg, can i open a bank account in singapore??
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Easy easy. Fast approval also.
SUSyklooi
post Jun 24 2021, 02:40 PM

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QUOTE(gunpla student @ Jun 24 2021, 02:37 PM)
Easy easy. Fast approval also.
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just to let you know,...just in case you missed the date,......that was a decade old post that you just responded
gunpla student
post Jun 24 2021, 02:44 PM

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Thank you.
How are you yklooi?
Long time no see. Vaccinated already?

gunpla student
post Jun 24 2021, 02:45 PM

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QUOTE(nicemamak @ Jun 24 2021, 02:32 PM)
I linked CIMB Malaysia with CIMB SG. It took around 2 business days
I have the same thought as u that want to park some fund in SGD. The interest rate in SG is very low. No appetite at all. I keep the fund in SG REIT. Hopefully it is the right move. Wish to hear from experts to share too
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Why Singapore REITs? I know Singaporean likes it because of tax free.
You like income stocks? rclxm9.gif
SUSyklooi
post Jun 24 2021, 02:52 PM

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QUOTE(gunpla student @ Jun 24 2021, 02:44 PM)
Thank you.
How are you yklooi?
Long time no see. Vaccinated already?
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still waiting to be called .....registered thru the website since April
gunpla student
post Jun 24 2021, 03:05 PM

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QUOTE(yklooi @ Jun 24 2021, 02:52 PM)
still waiting to be called .....registered thru the website since April
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So long ago, probably assigned you far far away because that time your area vaccination centre haven't opened yet laugh.gif
Mr.Weezy
post Jun 24 2021, 03:49 PM

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QUOTE(nicemamak @ Jun 24 2021, 02:32 PM)
I linked CIMB Malaysia with CIMB SG. It took around 2 business days
I have the same thought as u that want to park some fund in SGD. The interest rate in SG is very low. No appetite at all. I keep the fund in SG REIT. Hopefully it is the right move. Wish to hear from experts to share too
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U linked via CIMB SG or MY?

CIMB MY was fast, 1 working day

but CIMB SG seems slower

for SG REITs, which platform do you use? Syfe ?
Ramjade
post Jun 24 2021, 06:22 PM

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QUOTE(gunpla student @ Jun 24 2021, 02:45 PM)
Why Singapore REITs? I know Singaporean likes it because of tax free.
You like income stocks?  rclxm9.gif
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Because they offer 8% return in investment in form of dividends. Higher quality reits offer only about 3-4%p.a Last time higher quality reits can go for 6-7%p.a

QUOTE(Mr.Weezy @ Jun 24 2021, 03:49 PM)
U linked via CIMB SG or MY?

CIMB MY was fast, 1 working day

but CIMB SG seems slower

for SG REITs, which platform do you use? Syfe ?
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Don't bother with syfe. Learn how to buy your own reits. It's not that hard and not the expensive to buy your own reits Vs using syfe. Using syfe is just asking middleman to do something which is very simple at a higher cost.

ironman16
post Jun 24 2021, 07:13 PM

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QUOTE(Ramjade @ Jun 24 2021, 06:22 PM)
Because they offer 8% return in investment in form of dividends. Higher quality reits offer only about 3-4%p.a Last time higher quality reits can go for 6-7%p.a
Don't bother with syfe. Learn how to buy your own reits. It's not that hard and not the expensive to buy your own reits Vs using syfe. Using syfe is just asking middleman to do something which is very simple at a higher cost.
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Bro, but buy sing reits oso got minimum amount invest, right? Use IBKR oso for sing reits?
Ramjade
post Jun 24 2021, 08:08 PM

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QUOTE(ironman16 @ Jun 24 2021, 07:13 PM)
Bro, but buy sing reits oso got minimum amount invest, right? Use IBKR oso for sing reits?
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All sg stocks need you to buy min 100 shares and in multiple of 100s. Prior to Ibkr, recommended buy for s-reits is Min SGD4k per transaction. I think with IBKR you can get away with say SGD2k. You can buy say 100 shares at $2.00 which cost you $200+$3.75 (commision) which is equal to about 1%+ cost just for commision.

This is to lower your cost %.

This post has been edited by Ramjade: Jun 27 2021, 10:27 AM

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