Their new account call My account have no minimum fall below fees. That's how I can keep only SGD0.10 inside.

Another good thing about that is it have ability to send, store and received most major foreign currency. Very handy if you have US REIT in SG paying USD.

Later I put up calculation.

You closed all your SG accounts?

YES now no more SG A/c

oh why, investing in MY only?

i now worked in MY, property in MY, stayed in MY, EPF in MY
not 100% sure on how the forex will moves in my favours

also i think one of the forummer mentioned, something like...if you invested in NON malaysia EQ,...you are also investing out of M'sia

No need to follow people. Do what you are comfortable with and what you think is good yourself and your family.

I wish you best of luck. Seriously and honestly. Looking at Malaysia condition I think it's wise to open back your bank account if DBS accept it. Better to have protection in place than no protection. Just my two cents.

For me I took out my EPF during govt initiative and invest it overseas. Better for me to protect myself than regrets it should ringgit continue to slide.

This post has been edited by Ramjade: Aug 3 2021, 11:44 AM

just wondering,...is it the SAME for this 2 Malaysians in Malaysia?

Malaysian "A", invest in Malaysia,...investing in Stashaway Msia, buy unit trusts that are mandated out of Malaysia from FSM MY, buying overseas ETFs and etc etc

Malaysian "B", invest by channeling money to (for example) Singapore to invest. (Open bank and investment a/c in Spore). Then invest in Stashaway Spore, buy unit trusts that are not mandated to have Malaysia's stocks in its holdings thru the use of FSM SG, buying ETFs and etc etc

just forget about the cost of investment for this discussion,....

This post has been edited by MUM: Aug 3 2021, 11:31 AM

Interesting topic,
The difference would be the forex movement then?

Assuming all investments made by A are in ringgit. The investment returns would have included the forex movement. Even if there is no change in the investment value, the weakening of the ringgit may show a facade of increasing "investment returns".

Assuming B made investments in foreign currency, he could choose when he wants to convert the currency and is not subjected to the constant forex movement.

This post has been edited by thecurious: Aug 3 2021, 12:06 PM

in fact, they are theoretically the same, it is just that having an SG account gives you more opportunity to vast investment products with lower cost.

but this is a comparison on constant investment movement without selling etc, anyhow you cant run away from parking your idle funds, so parking your idle fund in SGD or MYR are gonna affect your ROI anyhow.

This post has been edited by tadashi987: Aug 3 2021, 02:58 PM

But if I do international freelance work and get paid to this "SG" account, do I get taxed here or in SG?

it is just a mean to accept payment, no changes on your income tax filling.
for example, it doesn't matter you accept the payment in cash, paypal, crypto, SG, MY etc etc.

This post has been edited by lamode: Aug 3 2021, 09:48 PM

Hi sifus,

How much can I transfer from my Malaysian bank account to my Singapore bank account without attracting queries from our authorities? Daily max? Monthly max?
Thanks

i think i read before in this forums,...
other than the amount of money daily/monthly, it was mentioned the consideration may includes the total number of times made daily/monthly too....

If you use fintech, max is RM30k/day. If you use banks, no limit. Downside is you pay more for using banks.

Keep in mind if you have any debts you can only transfer RM1M/year. If you have no debts, unlimited amount.

As in, you open a bank account in SG as a traveller?

Without working in SG (non SG resident)?

Yes you can. You can try opening Maybank sg account from here too. Not sure if they still allow it though

You can. That applies to DBS SG only. You need to go to their HQ. I tried UOB, OCBC, Maybank all rejected me. This was because of Nahin and his 1mdb. Before this they accepted us only.

Thanks. Will try Maybank SG next time. Since I already got Maybank MY.

I don't have CIMB Msia yet but will try.

Post above says CIMB and Maybank ok.

I will just try all 3 (DBS in HQ, CIMB, and Maybank) and see how

Unless you want to buy unit trust, then no need to go for Maybank sg as they need you to lock up sgd500. CIMB got no minimum amount. I am keeping SGD0.10 inside my CIMB sg.

Dbs need to travel there. Both CIMB sg and Maybank sg can be opened from Malaysia. CIMB sg opened online provided you have CIMB my account. Maybank sg need to manually suit form with bank draft to certain branch which accept isavvy account application.

Thanks for the info.

CIMB seem convenient as we can open online provided we have CIMB MY already.

Just found out about this "S$ iSAVvy Savings Account".
Will download and fill up the form and go to the selected branches to apply


Edited :
Regarding the "S$ iSAVvy Savings Account",
it is still the same Maybank card we use in Malaysia right?
We log in to our Maybank app, normally got basic account, and then M2u savers, and now I will have a 3rd account called "S$ iSAVvy Savings Account". And I can just move the money, say from M2U saver to this "S$ iSAVvy Savings Account" through the Maybank app?

Since I have to deposit SGD $500 within 30 days from the date of account opening.. I assume I can just say, transfer RM1600 from M2u savers to that Savvy account

This post has been edited by SkyHermit: Aug 20 2021, 12:33 PM