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 Opening a Bank Account in Singapore

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ikanbilis
post Mar 3 2022, 07:32 PM

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QUOTE(Medufsaid @ Mar 3 2022, 06:32 PM)
there's pro and cons... quite a few banks have fall-below fee so you have to be careful when picking a bank (e.g., if your average monthly balance is below S$500 there's a $2 monthly service charge)

https://dollarsandsense.sg/4-banking-accoun...singapore-know/

in my case, want to close my acct there also think twice bcos if want to reopen again, the fall-below threshold will be $1000

user posted image
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If you have the DBS savings account, you can open another DBS My Account online which has no fall below fee. After that you can close DBS Savings account.

I closed my POSB savings after opening MyAccount. Some months i leave SGD 1 in My account and no fee ever being charged.
Ramjade
post Mar 3 2022, 07:42 PM

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QUOTE(ikanbilis @ Mar 3 2022, 07:32 PM)
If you have the DBS savings account, you can open another DBS My Account online which has no fall below fee. After that you can close DBS Savings account.

I closed my POSB savings after opening MyAccount. Some months i leave SGD 1 in My account and no fee ever being charged.
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I can vouched for that. I levae my DBS my account with only SGD0.10.
How much you leave yours?
!@#$%^
post Mar 3 2022, 07:52 PM

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QUOTE(Ramjade @ Mar 3 2022, 07:42 PM)
How much you leave yours?
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does it matter?
Ramjade
post Mar 3 2022, 07:55 PM

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QUOTE(!@#$%^ @ Mar 3 2022, 07:52 PM)
does it matter?
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Who knows if he leave sgd0.00. i have not dare to leave it at sgd0.00 yet.

Yes it matters. If he keep it at sgd0.00 it means no issue.

This post has been edited by Ramjade: Mar 3 2022, 07:56 PM
Medufsaid
post Mar 3 2022, 07:56 PM

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sg is a "fine" city. do something slightly out of the ordinary and you might be fined

This post has been edited by Medufsaid: Mar 3 2022, 08:15 PM
ikanbilis
post Mar 3 2022, 09:35 PM

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QUOTE(Ramjade @ Mar 3 2022, 07:42 PM)
I can vouched for that. I levae my DBS my account with only SGD0.10.
How much you leave yours?
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When i was having both accounts, i left My account with zero balance no problems whatsoever.

After i closed my posb savings account, i always leave it with at least sgd1 to be safe.
godzillapunks
post Mar 8 2022, 05:38 PM

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Is it easy for non working Malaysian to open DBS bank account in Singapore now?
tadashi987
post Mar 9 2022, 02:38 AM

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QUOTE(godzillapunks @ Mar 8 2022, 05:38 PM)
Is it easy for non working Malaysian to open DBS bank account in Singapore now?
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kindly read Post #3943
godzillapunks
post Mar 9 2022, 10:51 AM

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QUOTE(TaiGoh @ Jan 8 2022, 11:23 AM)
If you are Malaysian, you can open account with Malaysia NRIC and put your residential address in MY as well. You just need to show your Credit Card/Saving Account Statement will do.
If you would like to open account with SG address, I think Phone Bill should work as well but you need to wait until your bill is out. Better call and check with DBS on this.
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How about a Malaysian who is not working in SG? Tks
Ramjade
post Mar 9 2022, 12:20 PM

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QUOTE(godzillapunks @ Mar 9 2022, 10:51 AM)
How about a Malaysian who is not working in SG? Tks
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No one tested it recently (like when VTL became available).
I will say go for it. Buy a ticket to sg and try luck. Read back previous pages about how to go about it.

Worse come to worse they reject you.
If you are lucky you get your account.
jack2
post Mar 9 2022, 07:27 PM

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QUOTE(Ramjade @ Mar 9 2022, 12:20 PM)
No one tested it recently (like when VTL became available).
I will say go for it. Buy a ticket to sg and try luck. Read back previous pages about how to go about it.

Worse come to worse they reject you.
If you are lucky you get your account.
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H wanna use for crypto cash out.
TaiGoh
post Mar 9 2022, 09:22 PM

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QUOTE(godzillapunks @ Mar 9 2022, 10:51 AM)
How about a Malaysian who is not working in SG? Tks
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Not sure on this, as I working in SG.
!@#$%^
post Mar 12 2022, 02:21 PM

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question, if i go to sg, how do i withdraw money otc at maybank or cimb? what identification do i furnish?
Hikari0307
post Mar 13 2022, 02:38 PM

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QUOTE(!@#$%^ @ Mar 12 2022, 02:21 PM)
question, if i go to sg, how do i withdraw money otc at maybank or cimb? what identification do i furnish?
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Most SG banks will want your Malaysia IC as identification for Malaysians.
!@#$%^
post Mar 13 2022, 08:54 PM

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QUOTE(Hikari0307 @ Mar 13 2022, 02:38 PM)
Most SG banks will want your Malaysia IC as identification for Malaysians.
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thanks.

on another note, is there any benefit at all to get a current account in singapore?
Ramjade
post Mar 13 2022, 11:38 PM

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QUOTE(!@#$%^ @ Mar 13 2022, 08:54 PM)
thanks.

on another note, is there any benefit at all to get a current account in singapore?
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Don't bother. Unless you are doing business.
sidefulnes
post Mar 15 2022, 11:07 AM

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Submitted my application to Maybank and documents have been couriered. Fingers crossed haha.

Plan B is to find opportunity to travel down to Sg to attempt to apply for DBS account with Vickers
SUSTOS
post Mar 15 2022, 01:53 PM

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QUOTE(sidefulnes @ Mar 15 2022, 11:07 AM)
Submitted my application to Maybank and documents have been couriered. Fingers crossed haha.

Plan B is to find opportunity to travel down to Sg to attempt to apply for DBS account with Vickers
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Just a question, with Wise's multicurrency account, is there any more need for a DBS MY Account (apart from diversification reasons)?
lyyera96
post Mar 15 2022, 10:14 PM

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QUOTE(sidefulnes @ Mar 15 2022, 11:07 AM)
Submitted my application to Maybank and documents have been couriered. Fingers crossed haha.

Plan B is to find opportunity to travel down to Sg to attempt to apply for DBS account with Vickers
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now we can open Maybank SG on website right, no need go to branch submit document?
lawrencesha
post Mar 15 2022, 10:18 PM

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QUOTE(lyyera96 @ Mar 15 2022, 10:14 PM)
now we can open Maybank SG on website right, no need go to branch submit document?
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Online registration requires SG FIN/NIRC and local address.

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