Done transferred using Sunway Money, account opening took less than a week, quite efficient.

https://www.cimb.com.sg/en/personal/promoti...sfer-promo.html
CIMB SG having promo now saying they have the best exchange rate
Why compare rates at money changers and online remittance services when CIMB Bank guarantees you the best exchange rate for your online funds transfers from Singapore to Malaysia? On top of that, we ensure transfers are INSTANT, SAFE, have zero service charges and all ONLINE!

Find something better? We'll credit you the difference!

yes, it is really good rate.

Anyone wants SGD? I have many.

is there anyone using cimb sg to transfer to tda sg? if so, how was the usual process?

Just to confirm for those who use DBS My account in SG, there will be charges of 10 SGD for inward remittance fee right regardless of whether you transfer in SGD or USD from IBKR (or other broker)?

I will be going to SG next year for my research exchange for a few months, plan to open the My account there with my work pass.

Unofficially it works but take damn long. FAST transfer should work. Worse come to worse, money rejected and refund to you.

DBS will always charge USD10 (whichever currency denomination for incoming money - if I am not mistake) for all TT regardless of currency. Use FAST transfer to move SGD. Cannot avoid. Only way is
1) be priority and customer and ask for waiver
2) use eCheque to move USD in SG (some banks have those feature)
3) If you use tiger it's free as money is tiger money is held with DBS.
4) Unofficially you can try withdrawing USD in GIRO (not sure will be charged by DBS side or not)

One way to get cheap rates for your HKD
Cimb SG/DBS -> SGD -> Interactive broker -> convert using Interactive broker into USD -> convert again into HKD -> withdraw to your HK bank account.

There is an SGD.HKD currency pair in IB, so no need to go through USD as the middleman. I barely transfer money to HK, usually money (scholarships) go out of HK to SG bank account.

But anyway thanks for info. So it seems withdrawal from IB to SG local bank account only CIMB SG waives the inward remittance fee. DBS My account then will be for USD withdrawal in case of emergency for me.

Just this week, I have tried the WISE digital remmitance.
My conclusion are..
Large sum or small sum, what you gets is clearly stated on their apps and no hidden charges.
Their apps is easy to use which allows me to track favourable exchange rates and lock in for the next 48hrs pending your payment. (I used online bank transfer to local WISE DBS bank account.)
Everything is spontaneous and no down time using their apps, just lie in bed and had everything done with a few clicks.
Money arrived as stated with live tracking of the money. My local bank CIMB credited the money to my account instantly too.

This post has been edited by Mac Wai: Oct 28 2021, 11:07 PM

Thanks for the new info about SGD.HKD. Er you do know that you it's difficult to move USD around in SG Vs HK right? I believed you can do like a FAST transfer for USD in HK but not in SG.

In SG, you are only limited to
1) cheque
2) TT
3) Same bank transfer for USD.
When you want to move USD.

Been trying to look for something like FAST for USD but seems the tech isn't available in SG yet. Based off chat with customer service.

Use Sunway money. You will get better rates.

Ya, you are referring to CHATS. https://en.wikipedia.org/wiki/Clearing_Hous...Transfer_System

It's free for my Hang Seng bank account, but not available on certain digital banks like Mox.

https://www.hangseng.com/content/dam/hase/c...l_e_jul2021.pdf

https://www.hkicl.com.hk/files/page_file/11...20%28Eng%29.pdf

But scholarship amount not much these days, some source of funds come from personal savings in the past, so usually that money goes straight to SG banks and get transferred to USD from there as I may reserve some SGDs for emergency use/SG shares too.

Kind of curious why SG don't have such tech when HK have it. Like they want to fight with HK but lack such crucial simple tech.

Not to mention they don't use fingerprint for withdrawal. I got a shock as Malaysia already using fingerprint to withdraw.

What kind of verification method do they use for withdrawal?

Signature, IC/passport. That was like 7 years ago. Not sure what's the latest.

This post has been edited by Ramjade: Oct 29 2021, 01:26 AM

Thanks forumers.
I have done opening CIMB fast saver account within 1 week time.
My question is, will Singapore cimb limit the transfer from overseas as part of my earning from referral and commission pay from Hongkong.

Any limit on USD receiving per TT from company to my CIMB fastsaver account
Or
Shall I ask HK company to TT HKD to me rather than USD?

Do we need to declare to Malaysia income tax since I m base and work in Malaysia.

Fyi, this is the side income which i gain from my friend company in HK.

Appreciate member advice.

Thank you.

Not worth SGDHKD while USDHKD is pegged at 7.75 so no need worry about FX rate

Hi, whether Malaysian can open the HSBC Singapore bank account without Singapore address?

Can. But must be priority banking. Do you have the moo to cough up Rm250k and lock it with them?

This post has been edited by Ramjade: Oct 31 2021, 08:06 PM

When you open CIMB SG what is the purpose of opening account you gave to them? If you mentioned it is business/trading income then they should be able to understand.

CIMB Fastsaver can only accept SGD, to all foreign currencies coming in will have to exchanged to SGD before entering your account.

There is no limit for inward remittance. https://www.cimbclicks.com.sg/faq_fundtransferinward.htm



As of now, foreign-sourced income will not be taxed (but this may change in 2022), but you should declare to stay on the safe side.

I have HSBC Malaysia account, this is my company salary account but just 3 figure only in my bank account

Go with CIMB sg. You do t even need priority banking. All you nee dia just SGD1000 to open. I keep mine with SGD0.10 only inside.