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 Opening a Bank Account in Singapore

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Duxia999
post Sep 18 2021, 12:12 PM

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QUOTE(TOS @ Sep 16 2021, 02:36 PM)
CIMB SG activated!

Thanks for your encouragement Ramjade and the info provided by Gracie in her blog. polarzbearz
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It's been a week since I depo 1sgd from my cimb my and then transfer 999 from my dbs... Still no call from sg cimb..
SUSTOS
post Sep 18 2021, 12:18 PM

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QUOTE(Duxia999 @ Sep 18 2021, 12:12 PM)
It's been a week since I depo 1sgd from my cimb my and then transfer 999 from my dbs... Still no call from sg cimb..
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Did you follow Gracie's blog instruction? I presume your CIMB SG linkage with CIMB MY has been approved by CIMB MY?

I transfer 1k SGD from Maybank SG since I already have Maybank SG. According to her blog, you can transfer 1k SGD via Wise/Instarem/Sunway Money etc from your MY bank account to fund it.

I don't know if the call is necessary though, Gracie didn't mention that in her blog instructions.
Duxia999
post Sep 18 2021, 12:43 PM

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QUOTE(TOS @ Sep 18 2021, 12:18 PM)
Did you follow Gracie's blog instruction? I presume your CIMB SG linkage with CIMB MY has been approved by CIMB MY?

I transfer 1k SGD from Maybank SG since I already have Maybank SG. According to her blog, you can transfer 1k SGD via Wise/Instarem/Sunway Money etc from your MY bank account to fund it.

I don't know if the call is necessary though, Gracie didn't mention that in her blog instructions.
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No call and I can't register for cimb click sg too... Coz never got the sms /email
SUSTOS
post Sep 18 2021, 02:35 PM

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QUOTE(Duxia999 @ Sep 18 2021, 12:43 PM)
No call and I can't register for cimb click sg too... Coz never got the sms /email
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Ok have you received this email?

user posted image

And when login to CIMB MY what is the status of your CIMB SG account linkage?

user posted image

Is it still pending for approval? Or it has been approved?
Ramjade
post Sep 18 2021, 05:54 PM

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QUOTE(Duxia999 @ Sep 18 2021, 12:12 PM)
It's been a week since I depo 1sgd from my cimb my and then transfer 999 from my dbs... Still no call from sg cimb..
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Last the no call. The will just send you everything via mail. Need to wait around 1 month for it everything to arrived. Keep in mind to check your email. They will send you an email.

That's was during my time.
Duxia999
post Sep 19 2021, 01:50 AM

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QUOTE(TOS @ Sep 18 2021, 02:35 PM)
Ok have you received this email?

user posted image

And when login to CIMB MY what is the status of your CIMB SG account linkage?

user posted image

Is it still pending for approval? Or it has been approved?
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Get this once account opened and already show link and transfer money like I say before..
SUSTOS
post Sep 19 2021, 08:41 AM

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QUOTE(Duxia999 @ Sep 19 2021, 01:50 AM)
Get this once account opened and already show link and transfer money like I say before..
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If this is the case, you can drop them an email and contact their CS representative to ask for updates. For my case, the whole process takes around 1 week from submitting application to final approval.
TaiGoh
post Sep 21 2021, 08:01 PM

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QUOTE(TOS @ Sep 16 2021, 02:36 PM)
CIMB SG activated!

Thanks for your encouragement Ramjade and the info provided by Gracie in her blog. polarzbearz
*
Wondering you transfer 1k SGD with only CIMB Clicks or together with Wise?
Thinking whether to do it straight with CIMB Clicks or together with BigPay.
Transferring 1k via CIMB Clicks need 3148.80 but BigPay only 3113.01.
Thanks again!
SUSTOS
post Sep 21 2021, 09:03 PM

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QUOTE(TaiGoh @ Sep 21 2021, 08:01 PM)
Wondering you transfer 1k SGD with only CIMB Clicks or together with Wise?
Thinking whether to do it straight with CIMB Clicks or together with BigPay.
Transferring 1k via CIMB Clicks need 3148.80 but BigPay only 3113.01.
Thanks again!
*
1 SGD for e-KYC from CIMB MY to CIMB SG.

1k SGD for minimum deposit from my Maybank SG to CIMB SG (My Maybank SG was opened last year, you can transfer this 1k SGD from CIMB MY/other local MY banks (expensive) or fintech apps/portals like Wise/Instarem/Sunway Money etc. or from an SG bank with your name)

So total for me is 1001 SGD.

Your observation is correct, banks charge high fees and markup the forex rates. So you should use fintech like BigPay/Wise/Instarem/Sunway Money etc. to do the 1k SGD deposit. Don't use CIMB Clicks MY to transfer the 1k SGD. Gracie mentioned that in her blog too.

In any case, just don't forget about the e-KYC which must be from your CIMB MY account , that one you already did. (For e-KYC 1 SGD is enough, transfer more is also ok, say 1k SGD, but you will lose money like what you have observed above.)

This post has been edited by TOS: Sep 21 2021, 09:06 PM
kky1211
post Sep 24 2021, 06:58 PM

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QUOTE(TOS @ Sep 21 2021, 09:03 PM)
1 SGD for e-KYC from CIMB MY to CIMB SG.

1k SGD for minimum deposit from my Maybank SG to CIMB SG (My Maybank SG was opened last year, you can transfer this 1k SGD from CIMB MY/other local MY banks (expensive) or fintech apps/portals like Wise/Instarem/Sunway Money etc. or from an SG bank with your name)

So total for me is 1001 SGD.

Your observation is correct, banks charge high fees and markup the forex rates. So you should use fintech like BigPay/Wise/Instarem/Sunway Money etc. to do the 1k SGD deposit. Don't use CIMB Clicks MY to transfer the 1k SGD. Gracie mentioned that in her blog too.

In any case, just don't forget about the e-KYC which must be from your CIMB MY account , that one you already did. (For e-KYC 1 SGD is enough, transfer more is also ok, say 1k SGD, but you will lose money like what you have observed above.)
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Hi thanks for the heads up on the e-KYC part. Any idea what option to choose under the "Purpose of Payment"? Can't find anything on savings / investments. Thanks!
SUSTOS
post Sep 24 2021, 08:05 PM

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QUOTE(kky1211 @ Sep 24 2021, 06:58 PM)
Hi thanks for the heads up on the e-KYC part. Any idea what option to choose under the "Purpose of Payment"? Can't find anything on savings / investments. Thanks!
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No problem. Always glad to help. biggrin.gif

I can't remember what I selected last time, I think it's this one:

user posted image

As long as it is savings/investments-related it should be fine.
kky1211
post Sep 24 2021, 08:55 PM

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QUOTE(TOS @ Sep 24 2021, 08:05 PM)
No problem. Always glad to help. biggrin.gif

I can't remember what I selected last time, I think it's this one:

user posted image

As long as it is savings/investments-related it should be fine.
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Got it! thumbsup.gif Thank you so much!
sherynchans
post Sep 26 2021, 08:29 PM

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i am wondering can i still send only SGD1 from CIMB MY to CIMB SG?

And to send the rest from my sibling's account?
Rama522
post Sep 26 2021, 09:42 PM

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QUOTE(sherynchans @ Sep 26 2021, 08:29 PM)
i am wondering can i still send only SGD1 from CIMB MY to CIMB SG?

And to send the rest from my sibling's account?
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Yes it is possible. I think @Koranshita has done it before.
Can refer to the post #3611
homosapien8888
post Sep 26 2021, 10:06 PM

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hi , just wondering the CIMB/maybank singapore account is for withdrawal fund to your bank account in singapore rather than to your malaysia bank account ? i know now we can use wise /instaram /big pay for remittance , ie Rm -> Sin dollar

Ramjade
post Sep 26 2021, 10:17 PM

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QUOTE(homosapien8888 @ Sep 26 2021, 10:06 PM)
hi , just wondering the CIMB/maybank singapore account is for withdrawal  fund to your bank account in singapore rather than to your malaysia bank account ? i know now we can use wise /instaram /big pay for remittance , ie Rm -> Sin dollar
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Use CIMB sg. Forget about Maybank sg. Alternative is use TransferWise. The rates between CIMB sg and TransferWise are interchangeable. Sometimes one is cheaper than the other.
jack2
post Sep 27 2021, 12:17 PM

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I am so happy. UOB accepts my account opening without physical need to present there.
Ramjade
post Sep 27 2021, 12:50 PM

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QUOTE(jack2 @ Sep 27 2021, 12:17 PM)
I am so happy. UOB accepts my account opening without physical need to present there.
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Need to be priority to open with them?
jack2
post Sep 27 2021, 01:01 PM

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QUOTE(Ramjade @ Sep 27 2021, 12:50 PM)
Need to be priority to open with them?
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No. I have special deal with them.
SkyHermit
post Sep 27 2021, 01:16 PM

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QUOTE(jack2 @ Sep 27 2021, 12:17 PM)
I am so happy. UOB accepts my account opening without physical need to present there.
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Do you mean you can open UOB Singapore account without physically being in SG?

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