is it fast (or decently fast) to transfer money from DBS back to a malaysian account? money in & out purely for investment purpose.

or better to just go CIMB sg all the way

DBS rates sucks compare to cimb. Speed wise not sure.

Hi guys...
i just open a cimb sg account....
i was trying to make a transfer from my cimb MY to sg account..
but the purpose of transfer there is not option for savings?
any idea which to select?

thanks

you were trying to do eKYC activating ur account with their first transfer, or you have activated but merely transfer for the sake of savings?
if it's the latter, don't use CIMB MY to transfer CIMB SG, the rate is bad

is the first transfer..but i've linked to my local cimb account...
any advise which to use to transfer sgd 1000?

oh if that's the case, i think u can put the reason as "investment", you are hedging on SGD which is a form of investment i would say?
the reason doesn't really matter much

FYI last time there were forummers transferec $1 from CIMB MY to CIMB SG, remaining $999 they use remittances like BigPay/Wise etc,
I am not in the position to advise if it still works thou, I personally didn't use that approach

if u want to know more can search 999 in this forum thread

ok thanks...if those reason is not impt...then i just select anything which is applicable.
tbh...those options are really confusing.....

I did this about a month ago so its still doable

This post has been edited by ParkBoGum: May 13 2022, 05:57 PM

POSB/DBS every corner, nook, and alley is more common than a MBB ATM in MY.
It's really everywhere.

DBS first account with us got 0 minimum IF apply online. (I just opened a DBS Multiplier).
It is best to hold a credit card in local currency IF you are in MY. Conversion rates may be a problem.

CIMB SG is just a method of doing the wire transfers without actually carrying wads of $100 around..
But all in all I think its too much hassle.
Better to just open a proper local bank acc, DBS, UOB, OCBC are pretty good in terms of ATM availability.
Once u have a debit card (local) getting around and paying with it (wave to pay) its pretty convenient, already can use all the cut queue self checkouts and order like a boss in McD.

Just sharing on reply from CIMB SG

We wish to inform that an account will turn into inactive status when there are no deposits or withdrawals performed by the account holder. Saving account will turn inactive after 36 months.

To activate the dormant account, kindly contact us at the hotline for assistance. Our Customer Service Officers will be able to assist after a simple phone verification

Malaysian practically impossi5 to open sg bank accounts since 1mdb issue. Thanks najib.

36 months is a great deal of time

Anyone tried transferring money from Maybank SG to Maybank MY before? What's the rate compare to CIMB SG? Had bad customer service experience with CIMB

Worse. Don't even bother. Didn't transfer but you can check the rates before you send.

So far cimb sg customer service quite good. You don't need customer service as everything is online.

So currently Malaysian only can open Maybank SG and CIMB SG bank account right if no working in SG?

Yes. Sg banks off limits 3xcwot maybe DBS or you are super rich. If you are poor like me, they won't even let you open account.

Technically yes. if not working in SG its hard to open. Applications are being vetted stringently

Heck even with IPA letter also hard mode to open
That's why end up with DBS coz at least can use IC+IPA+company proof of address
Which saved a bit of time as compared to waiting for physical EP card

work in malaysia, if open cimb SG account
1. any charges per year?
2. will receive SG ATM card?

today sunway money rate is already 3.21 =(

Hi Ramjade, may i know which DBS branch u went to apply for this ? Thank you so much