Malaysian can open OCBC SG, CIMB SG and Maybank SG only (without visiting SG). As for DBS, prior to 1MDB and before 2015, it's possible to open a DBS account easily via DBS Vickers in DBS's head office at Marina Bay Financial Center in SG. Post-2015, not aware of anyone who manage to open DBS account successfully without depositing huge sum of money with their private banking side...

So just stick to OCBC SG for now, that's reasonable good for general banking purposes in SGD. You can also proceed to open a CDP account thereafter, which will allow you to purchase SG Treasury bills, bonds and saving bonds.

Yea Ramjade is right haha, I got a student pass right now to study in SG, though in the coming months i may just stay in Penang to date with my high school classmate and connect to NTU servers via VPN

Earn SGD, spend MYR...

Morning Bro.

I just switched to Octo yesterday night and this morning when I can login and start to explore the app it seems like cross border transfer via mobile number is now feasible.

Can you confirm that?

I might wanna try transferring 100 MYR from CIMB MY to SGD in my OCBC SG account (registered via my SG phone number) and see how is the rate.

Very nice, so shall we say that there is now a new avenue to transfer money to SGD bank account via cross-border fund transfer at mid-market rate with daily limit of 3000 MYR?

Last time I only see Maybank MY reported here, now we have CIMB MY as well yes?

Let me try CIMB MY to OCBC SG (registered using my SG mobile number). Report back in a moment.

Didn't work eh...

Reason of failure: AM04 Unable to proceed [HTERBQS102]

The rate is midmarket rate for sure. 1 MYR = 0.287 SGD (XE quoted 0.2878)

Let me call customer service...

This post has been edited by TOS: Jun 28 2024, 11:25 AM

Actually not exactly mid-market rate. 0.0008/0.2878*100% = 28 basis points spread

Just a smidgen better than MoneyMatch if for large volume...

Customer service acknowledged the fund went out and was kicked back into my account again... they will call back later today.

CIMB customer service phoned me back again. Front office can't handle this error, so they file a report to the back office to investigate. I have the report number with me.

Will update here again when they contact me back.

This post has been edited by TOS: Jun 28 2024, 02:23 PM

Those who perform transaction on CIMB SG yesterday might want to check if anything is wrong with their CIMB SG statements today...

I notice my incoming funds yesterday were missing this morning...

I am not the only one reporting missing transaction records.

https://www.facebook.com/CIMBSingapore/

It's in the news:

https://www.8world.com/singapore/cimb-bank-...m-issue-2495296

Not yet on ST and BT though, we shall continue to observe.

Will be resolved in the next 24 hours.

Follow their updates on FB: https://www.facebook.com/CIMBSingapore/

https://www.8world.com/singapore/cimb-bank-...m-issue-2495296

Email from CIMB SG 20 minutes ago:

Final update: The money has been credited back this morning.

The accounting entry looks funny though: "ADH BULK CREDIT, CR VIA FAST"

May I ask which bank is that?

CIMB SG uses its own app as a security token. Maybank SG gave a physical token to me last time, though they still accept SMS OTP back then. I closed my Maybank SG account last year so the token was discarded. Not sure of the latest developments with Maybank SG's authentication format.

DBS and OCBC SG also use the in-app authentication method to approve transactions. No physical tokens are issued anymore.

Have you activated the digital token before?

https://www.cimb.com.sg/en/personal/digital...ital-token.html

It should have been activated as soon as your CIMB SG account was opened, yes?

See step 11 in Gracie's blog: https://ringgitfreedom.com/banking/opening-...for-malaysians/

--------------------------

Ya me too, transferring between CIMB SG/DBS/OCBC for me is pretty seamless. All 3 banks use digital token. All transactions just require "swiping a bar to the right"...

----------------------------

I don't know much about physical token... this you need to ask sifus haha.

This post has been edited by TOS: Jul 1 2024, 11:37 PM

Did you apply for the ATM card?

For OCBC, monthly savings account minimum is 500 SGD (waived for first year).

For DBS, no minimum balance whatsoever if open account online (for Multiplier, check with the bank officer who open account for you; My account has no minimum balance but they won't open My account for foreigner by default, cunning bank...).

This post has been edited by TOS: Aug 22 2024, 11:49 PM

Basic Saving Account (BSA), the one mandated by BNM and will never be promoted to new customers

https://www.bnm.gov.my/documents/20124/5579...ng_services.pdf

CIMB SG cut rates across the board!

https://www.cimb.com.sg/en/personal/importa...ates-oct24.html

First 25k rate drop from 1.5% p.a. to 1.19% p.a.

No annual fee charge. (Used to have iSavvy account at Maybank SG.)