YES, bro,.... open one more at Maybank too,... there are its benefits too,... when you wished to move funds in and out of MY into Sgp....provided you also have a Maybank acct in MY.

See thread : SGX Counters.

You can still open savings accts at Standard Chartered Singapore and at Maybank Singapore with your normal documents. Do it quickly before these two banks close their doors too.

Temasek !

1) If you have a DBS Account, you can use a facility called DBS Remit, and remit to Msia without charges at all.

2) There is NO charge imposed by Maybank Msia for inward remittance from an Sgp Bank.

I love yr profile photo, Shin,...

Bro Ramjade,... charging SGD5 per month ?

Bro,... for Stanchart eSavers Acct, you have must a daily average of SGD1000 inside. If this daily average falls below SGD1000, then they will charge you SGD5 at the end of the month as fall-below fee.

If you wished to invest this SGD instead, leave SGD60 inside the account for them to deduct, then you can take out SGD940 to invest. SGD60 will allow them to deduct for one full year !

Use the following. I thought somebody would reply,...

1) Call Standard Chartered, Sgp, tel no : 65-67477000, ask them what documents are needed. Tell them of the date that you will be going down. Tell them you intend to do at No : 1 Battery Road.

You do this so that they can't refuse you later ! Bro,... don't go to other branches ! Open at No 1, Battery Road.

2) Gather the docs, then go down !

3) At a minimum, open the eSavers, SGD and USD Settlement Accts.

Bring SGD 1200 with you, you need to put in SGD 1000 into that eSavers Acct.. After that, wait for your token and the ids and passwords to reach your house. Then you can start from there.

Looks like Shin's way is better than mine in opening a Sgp bank account,...

Yes, use the above way,... then if you guys needed a trading account with the lowest brokerage charge in Sgp, use my way,... BUT,... quickly open the bank acct first using Shin's way above, BEFORE MAYBANK CLOSES THEIR DOORS !!

Gentlemen,.. perhaps I'm a bit over-careful, but I would look at it this way. Different bank accounts have different qualities. For SG Banks, if they allow us to open bank accounts, I would open a few. I would capitalise on the good qualities carried by each particular bank acct, eg :-

1) Doing a TT from DBS using DBS REMIT is cheap, so, open one bank acct at DBS.
2) If DBS REMIT is stopped by DBS, and fees start, then to move funds between Msia and Sgp, the cheapest way that I know of would be by Maybank. So, open one at Maybank.
3) Standard Chartered brokerage charge is the cheapest in Sgp, so open another at Stanchart, Sgp...
4) If, seuy suey,... should one day, Stanchart stops its equities service, then can shift over to DBSV if you have a DBS Acct..

BUT : as in everything, there is a downside. The downside to opening too many bank accts is the minimum balance that need to be put into each acct..

Well,... with all other things being equal, KE is even better than Stanchart because the comm rate is 0.18% compared to Stanchart's 0.20%. Don't know abt other aspects of KE Trade, don't use them,...

But yeah, if it is easier to open in KE, go ahead !

That's right. Apply via Maybank Malaysia. Hopefully the process is still there.

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.

With the introduction of 1.5% charged against the foreign currency amt notes being deposited into or withdrawn from the DBS MCA, things are not as attractive as before. We must go to the other banks which provide free service for currency notes being dep and withdrawn.

THANKS TO THE 1MDB EVENT !!!!!

It rarely falls below in the last two years, because I've been converting out my RM into foreign currencies.

Edited : what do yo know abt UOB and OCBC being able to accept foreign currency notes over the counter ?

This post has been edited by Hansel: Jan 8 2017, 09:06 AM

Bro Ram,... a few things needed to fine tune here in yr tactics with IB,.. can't write now,.. need to go change money !!!

Bro,.. for IB, if you are able to bank in only SGD, to me,.. this is not good enough. I would prefer to have an account that can accept foreign currency notes in different currencies.

I would be quite positive that IB provides a custodian acct., and no CDP holding.

My questions for UOB and OCBC is more like : how much do they charge for OTC cash banking-in and withdrawal ?

Bro,.. it's not abt exchanging,.. Exchanging will cause us to incur 'spread expense'.. I would prefer 'no-charge' direct bank-in in the currency that I preferred, hence, I control the spread... don't know if you understand or not. Hmm,... it's a bit hard to illustrate via a forum like this,... we seem to be talking in opposite directions. ...

Yes, banks will charge fees, but there are one or two banks now which are thinking of opening their doors to direct bank-in of notes without charges. They have not confirmed yet. Yes, I agree,...we try not to hop. But if we have limited capabilities in opening accounts, we have to hop. The moment we can open in one bank, then,...

UOB is expensive,... OCBC is expensive,...

BRO,... I'M NOT READING TOO MUCH ! I'LL JUST REPLY TO THE STATEMENT IN BOLD ABOVE - YES !

If an institution allows direct bank-in of foreign currency notes without charges, then you control the spread. When you control the spread. a whole new world of currency exchange tactic opens up to you in terms of which currency you wish to use, where to exchange, and another factor ! From my experiments and experience, if I control the spread, I stand to gain all and nothing to lose.