So there is no choice for Malaysian??? CIMB SG I also have bank account for me but TT transfer fee very high then before I Google found HSBC SG if you perform TT via online will be free. So that why I curious whether Malaysian can open HSBC SG bank account.

This post has been edited by lyyera96: Oct 31 2021, 09:53 PM

Got choice. See whether you have the money or not.

If you don't have money limited to only
1) CIMB sg
2) Maybank sg
3) DBS SG need to visit their HQ to open

TT in or TT out? If TT in then CIMB SG no fees. For outward remittance in SG, usually people use FAST or to a lesser extent MEPS and they are free/cheap (FAST definitely free, some banks charge on MEPS). For outward remittance to overseas, if possible can use fintech service providers like Wise/Instarem etc.

Regarding HSBC SG if TT free. Again time after time, you should remind yourself there is NO such thing as free in this world. This "free" service is paid for by the opportunity cost of locking several hundred of thousands with them to earn interest income and potentially highly lucrative wealth management fee from your some hundred thousands deposit.

In other words, you already "pay" them with your huge deposit.

Oligopolistic/monopolistic-competitive market like banks like to play with these kinds of "differentiated services", like different telcos offering different packages with different charges yet they look the same if you count the cost, or the different toothpaste brands with very similar net weight/packaging (few people know that Darlie's parent company Hawley & Hazel is 50% owned by Colgate-Palmolive).

This post has been edited by TOS: Oct 31 2021, 10:31 PM

This is good sharing, thanks a lot to you

Hi, May i know if i transfer from CIMB SG to CIMB MYS, is this still consider as TT or just normal transfer ?

I think it is some sort of internal transfer. You can initiate the transfer under the CIMB Malaysia Transfer option in the menu of the CIMB Clicks SG page.



https://www.cimb.com.sg/en/personal/promoti...sting-customers

is that ur screenshot? banyak duit there

4 digit SGD in CIMB SG. 3 digits in CIMB MY. That is a lot to you?

35k SGD is limit (notice the word "up to", I didn't change the default setting.)

Ah okay i thought thats ur bank balance so sent in reminder, I remember mine not that much

How does one open an account with DBS SG, does it have to be done physically in Singapore or KL branch is enough ?

Thanks

Need to go to SG in person with a valid work/student pass, if you are referring to DBS My account which Ram and I referred to earlier.

https://www.dbs.com.sg/personal/deposits/sa...unts/my-account

"You can open a My Account online without the need to visit the branch, if you are holding a valid Singapore work or student pass."

I already wrote there need to visit their HQ. They dont have HQ in Malaysia.

1 You need to fly or take a train or bus into Singapore.
2. Bring at least SGD10k (to make your journey worth it)
3. Go to marina bay financial center via smrt
4. Go to DBS HQ ask for DBS Vickers account with DBS bank account.
5. You need to open Vickers or else you won't get the bank account at all. It's their requirement. You don't need to fund it or use it.
Take whatever account they give you. Don't bargain.
6. Deposit in the SGD10k.
7. After 6 months and 1 day, open DBS MY account via online.
8.Transfer money into DBS MY account from previous DBS/posb account.
9. Close your current DBS/POSB account online.

Dayum, I'm currently using CIMB SG, will keep this in mind.


Thanks

Hi! Anyone still knows if I want to open the Fast Savers account, does the trick of transferring 10SGD from your cimb account and 990SGD from TransferWise still works? Thanks in advance

yes that is still working. You can transfer S$10 from cimb MY and followed by transferring the rest with Wise.

Just to check this means it still works after the newly added clause right?

Which newly added clause? I transferred 1 SGD from CIMB MY to CIMB SG a few months back during the account opening. Back then 1 SGD is enough, no need 10 SGD.

I saw from here: https://ringgitfreedom.com/banking/opening-...for-malaysians/
It says there is a newly added clause that the initial funding must come from an account under your name.

You mean this?



Ya, the e-KYC must come from CIMB MY anyway (for the 1 SGD verification), the rest I fund it using my Maybank SG account. Instarem/Wise/Sunway Money not acceptable it seems. Let me ping polarzbearz

cimb sg closed my acc few months back after for using over a year and a half....
then i asked my sister open 1 so i could use hers... now hers will b closed as well.. even tho i pledged 10k FD there d... lol. fken sensitive

This post has been edited by KenYoung: Nov 4 2021, 09:17 PM