I planned for another trading acc besides Sg Std Ctd.

anyone have Sg MBB trading acc ?

iOCBC acc, the commission is bit expensive. over sgd20 (min).

now I m looking at dbs Vickers. any advise.

planning going Sg very soon.

In the maybank form, they asked to fill up reason wanting to open the account. What did you guys put?

saving?....

it's after all, a savings account....

I thought they won't allow cos of currency controls

They are trying, bro,... let's observe closely,... if this works,... lots of people in MY can do it this way,... no need to travel all the way to SG.

i just put Saving/investment.

I ask the officer what people normally write.. in their forms.

He say they normally write:

For rental collection; to pay for goods; To buy things..

For Subang Jaya branch.. He will send documents every Friday. Cut off time will be Thursday.

Which subang jaya branch do you go to?

No worries, ShinG3e. You are already very helpful to us here, and I cannot thank you more.

Here, we may not know everything, but we try to share our real-life experience of using the banking product, for the benefit of everyone here. These information is way better than the misleading information, given by the clueless Customer Service Officers.

As shown in http://info.maybank2u.com.sg/personal/depo...debitcards.aspx, the Maybank Platinum Debit Card, bundled with Maybank iSAVvy Savings Account, does not have any annual fee. That is good.

This post has been edited by kart: Dec 4 2016, 10:18 AM

nice to hear that there is no annual fee then. cause pretty pointless to get charged annual fee for a card that we never intend to use.

It is useful when you travel to Singapore and need cash or buy things....also, if it is cheap money to you, can use to pay for goods and purchases online and overseas...

It's 2.4 to me, and I have used it to pay for hotels in Japan...

that is true. just that i don't frequent sg at the moment. perhaps in the future.

I am quite new and have not bought share before. Apologies, if my questions seem silly to experts like you all.

What I know is that the we use online trading account to buy share (in Singapore Exchange, SGX, in this context). Then, what is a settlement account, and what is the difference between an online trading account and a settlement account? Why do we need a settlement account, to buy shares in SGX?

Yes, I tried to google "settlement account", but the meaning is unclear for a layman like me.

I already have a CDP (Singapore Central Depository) account.

Thank you for your information.

Hansel, prince_mk ,managed to open my DBS MCA at Marina Bay
Thank you sifu

Considering I am currently unemployed, it's a miracle they let me open.

Here's how I manage to open. Requirement by DBS to open account with them


No 3 was problematic. I decided to go the way of opening a Philips account first. Once I opened that, I had a copy of application proof which I can give to the bank. They were problematic as well and refuse to open without a Singapore bank account. But somehow they told me we will open for you and hang on to your application unless you can provide us the Singapore bank account no. They did give me a proof of application. This was done at Toa Payoh branch.

Headed over to Marina Bay. Told them want to open Vickers and MCA. Apparently one cannot open Vickers without a bank account. So had to deal with MCA first.

Note:
Now MCA have foreign charges regardless when you open starting next monday. All MCA have free first 5 years annual fee waiver. Then after the 5 years, you are required to pay SGD12 for another 5 years = SGD2.40/year.

For Maybank SIN account, do we need to maintain transactions in & out every other month to keep the account "activated"? If not, what is the penalty?

Congrats for opening the DBS MCA account.

It is really a challenge recently even with proof of CDP account. However, it still can be done with much efforts.

You have to have a minimum $3000 balance in the account at all times.

You have to prove to them on what grounds you are opening an account for. In other words, a good reason would be for Salary Bank in (Sg work permit) or bills to pay (address in Singapore) or investment purposes (like mentioned SGX-CDP account). If not, most banks will not allow account opening.

This post has been edited by TOMEI-R: Jan 7 2017, 07:10 PM

Agreed. That's why I showed them my Philips application with chop from Philips branch. Then I told them I want to open Vickers.

You are lucky that they allow you to open. My case, I apply to open investment account with Maybank KE and I went to Maybank to open savings account(produce copy of the application and even ask them to further verify with Maybank KE remiser) and they still rejected saying they need approved letter on the investment account opening before they allow to open savings account.

Anyway, good that you opened DBS MCA. Shouldn't have problem on the investment account opening once you have the savings account.

Hi all,
First time on this thread and read thru the last 10 pages of the forum as some of them were quite old (<2013) which i presume outdated. Quick question, can i
1) Open a SG bank account (Prefer bank with Malaysia account too, e.g. OCBC, MAYBANK, CIMB etc) ?
2) If (1) is yes, what is the requirement ?
- Can i apply online ? I do not wish to fly to Singapore just to open an account
- Prefer bank with free annual fee as i don't think i will use the facility (ATM, Debit card etc) only use Internet Banking

Apparently the Singapore Government are very strict laws on currency control and anti money laundering. It is very hard to open an account at Singapore now compared to many years ago. Yes if you did managed to open one, you are one very lucky man.