urm? still no reply? i already got mine before NY including the card and security token device.

and they call me everytime i dropped them an email thou.

Btw you drop the email to SG or MY maybank?

perhaps maybank shah alam not efficient. maybe. 

try email them about your application status @ CallCentre@maybank.com.sg

that's how I get my update twice in a week. Put down your phone number with country code and let them know to call you instead of email.

edit: before they update you about the application status, they will verify certain info with you first (IC number, type of account opened etc...)

Ok I think SG can wait lah. Let me get settled with what I have. I do have relatives in SG and go down from time to time, so that isn't an issue.

The biggest draw for me is that they have so much better fund choice selection - Brazil, Russia, Eastern Europe, South America, Mexico, Turkey, Poland etc. Malaysia got none of those individual funds, sadly.

Fair enough. I will look into it. Thanks!

Now I really regret closing mine few years back when I moved back to Malaysia 😂. Likewise in Malaysia , to open new account also need Employee salary slip and some verification for those unemployed  . Banyak macam macam !

This is news to me,... opening banks accounts in Msia is also difficult ???? 

I agree on this. Many eyes are watching. Even more when it is reported in the papers recently people are transferring huge amounts of money overseas.
If you are a foreigner in Malaysia.

Is there reason(s) why everybody is rushing to open an account in Singapore ? In malaysia bank, we also have foreign currency accounts. You still can convert RM into forex and keep in bank accounts. I believe it is much easier to open a forex account in malaysia than an account in Singapore

If your objective is for share investment, our malaysian trading platform can buy shares in many exchanges around the world. You can fund your trading accounts in forex and buy shares in those foreign exchange. If you sell it, you can also choose to get the proceed in forex and not exchange it back to RM but keep in forex, waiting for your next trade.

For those who say the charges to buy shares in foreign exchange, the difference is only 0.xx%. Unless you are trading in millions, the price changes in a few days could easily be more than 0.xx%.

This left us with the last concern that Malaysia will introduce capital control again. And sending money out will be a problem. But do you guys have so much forex spending/expense ? My experience during the capital control years in late 90s / early to mid 2000s, I vaguely remember the procedures/documents required may be more, but my import/export business and my forex spending for my kids education is still not much of a problem

Or you fear that malaysia's economy will collapse like Zimbabwe or Venezuela ? If that happens, how much money in foreign currencies do you think you need to have so you can flee the country and live overseas for a long period of time ? Bear in mind, unless you are multi millionaire who could live on the wealth, you cannot simply move to another country and get a job there. Poor people is not welcome by any country

Unless I missed out that all of those who rush to Singapore to open accounts are people with millions to park overseas....

You carry so much cash and fly to Singapore ? You need to declare any amount >RM30k at the airport Customs. Hope you did that....
You can always carry SGD9500. That's way below the limit. 

BTW, at RM100k, you can get preferential rate from bank. Board rate is not applicable. And there is also DCI which you may be able to convert at spot rate at the time of entering contract.
I don't trust banks. My parents transfered RM75k+ before in USD (for education) worth never get special rate also.

BTW, how much do you exchange each time you travel to Singapore ? Your cost saving and time of travelilng is it worth it ?
This time will be my 2nd trip. Last time I change only SGD5.5k as I didn't expect can open an account. So this time SGD9.5k. Come on la. ETS only about RM51. RM5 to cross the crossway. Then buy tourist pass. SGD10 only for unlimited rides on their MRT/bus. Plane also RM69 only (right now). Then get on MRT t Changi airport. Can buy the SGD10 tourist pass at Changi airport.  Will be using money changer in the future to transfer as it cost only RM22 after I test it out. (to see whether can transfer or not)


Talking about 50% salary, if you fear RM depreciate, you can always open a foreign currency account with malaysian banks.
How do you get the 1% loss ?
Totally understand this point. I am an exporter as well.
Check the 2 link I gave. The comparison website match the exchange rates as quoted by the banks at today's price. SGD508.90/SGD32k x 100%
http://www.eforex.com.my/
http://www.exchangerate.my/

But you are not an exporter right ?
Nope. I am just a fresh graduate.

Again, where you get the 1% loss
See the above
Tell them you want to trade in DCI. And you can open a forex account.
I don't do forex trading

You go all the way to find ways to open an account in Singapore, but you don't find ways to open an account in malaysia ?
It was brief asking the banks. Was looking to hedge in terms of USD for my studies (that time USD/RM was at 3.x). But the banks refuse to entertain me. Besides if bank in Malaysia don't want me, so be it.

If for more selection in UT, that I can understand.
What is the difference in service charge ? You are talking about FSM My vs FSM Sg, right ?
No. Talking about FSM MY vs Philips SG. FSM MY charge 2% SC. Philips only 0.75% and more selection. FSM SG sucks as they charge you platform fees at 0.4% pa regardless you buy or not. In the long run (10 years holding), one will lose more to FSM SG compare to Philips.

Do you always charge your RM into SGD in cash form ? And you travel down to Sg to deposit the money ? You stay in JB is it ? If not, how much is your travelling cost per trip ? Do you have time to travel outside of work ?
Right now, I just travelled to SG once. Yes. I will convert to cash and slowly transfer out. In future use money changer service if can work as they charge their rates (can nego if amount is big) and charge fees of only RM22/transfer. Each transfer is capped at RM50k. I stay in Klang. See my cost above. It's cheap if you can carry SGD9500. Plus family members so >SGD9500/trip

Bro eForex and eRemit rates are different. If you use eRemit, the rate is even worse than bank.

eForex - SGD 3.125
eRemit - SGD 0.3138 --> 3.1867

Looks like you have to make a trip down to Singapore for every S$9.5k 
Bro, you are comparing the rates for cold hard cash vs bank remittance. How the exporter handle cash to do business ?

You expect us to ask our staff to carry cash and fly down to Singapore to deposit, so we can save the 1% ?

And I am not talking about S$32k each time. You got to add another zero behind. You trust staff who carry so much cash (assuming Customs will clear the amount)
Fresh grad in Malaysia earning about RM3k now right ? You said you can save 50% in forex. So it would be RM1500.

The 1% "loss" you talked about is worth :

1500 / 3.125 = S$480.00
1500 / 3.1755 = S$472.37

The savings from handling cash is S$7.63 per month. That is S$91.6 per year. S$916 per 10 year. Let's assume salary increase by 4 times. Your salary is RM12k in 10 years time. Your savings on the 10th year is ~S$400 per year

If you think it is worth it, then continue to do what you did.
DCI is not forex trading
Bro, from your various posts, can see you want to save every penny. If you are into saving every penny, you may be better off concentrating on buying stock yourself instead of asking people to handle your investment.

Buying stock yourself is much cheaper. Because asking someone to do a job for you will cost you money.

If you don't let bank make money off you, why you let UT manager to make money off you ?
Check their rates in eRemit. They are even more expensive than banks' board rate.

Are you working now ? If you start work already, you may not have the time and you will feel the hassle to carry the cash down to Sg often. Moreover, you are talking about RM1500 pm. Your savings is not worth it.

BTW, do you know that the rates offered by CIMB iTrade is close to spot ? Last time I use it, their rates were very good. Check it out and compare I don't know if they still offer good rates now.
1. Good planning for the future. You have this idea because you thought that you can transfer your money cheaper using eRemit. Otherwise, you will have to make every trip down to Singapore for every S$9500

2. I feel the same too 

3. Same as #1. You have to make the trip down to Sg to save money using eForex

4. If your amount is small, you may be better off try to open an Forex account with Malaysian banks. And using the local share trading platform to invest in overseas stock market

Frankly, your focus is wrong bro. You concentrate too much on saving cost. While ignoring the most important thing --> how to make money from your investment

For e.g., if you bought capital mall trust last week <1.90, it's now ~2.00. 10+ cents. That is >5%. What is saving 1% on the cost means ? Nothing compare to the gain

I have not heard investor getting rich by saving on the cost of purchasing shares.

It's ok I will tell here. I use DCI at spot rate regularly. So, if successfully, I will get spot rate at the time of entering DCI contract (although it could be more expensive at strike date). If I don't do DCI, I will convert directly from banks who give me preferential rate which is about 0.4-0.5% above spot rate. This involve bigger amount. I compare the rates from 3 banks. So, after a few times, the RM know they have competition and give me the best rate they can to get my business

However, that is not my main concern. I spend way more time on reading news, reports and forum to spot opportunities. Also buy lunch for the dealers and remisiers often and know what is going on. The more you trade, the more you will realize those with insider news will win more often than the regular retail buyers. Stock market is about who getting the information quicker

Don't bother so much on the cost side. Put your effort in the revenue side

If you are a bean counter in stock investment, I can tell you that you won't make a lot of money

If you are long term investor, all the more reason for you to transfer money out while you can, instead of skimming on the 1% and the time and effort to travel to Singapore. SGD has appreciated from 1:1 to the current rate over the last few decades. And your dividend per year of 7-8% is more than enough to cover.

I would rather use the traveling time to research on a good dividend stock. The capital gain could worth more than 1% in a short period. Should you have opened a local trading platform 1-2 weeks ago and dived straight into SGX, you would have made a few time more than the 1% you saved. But of course, the share price may go the other way around...

I also foresee you will have trouble buying a share if you are worry about a 1% difference. Because you will likely queue for a stock at lower price than buying it outright at "offer sell price". And in many occasions, you may miss the boat. Anyway, you will experience the "dilemma" when your vickers account is ready. Then you will understand what i am talking about. Good luck and happy investing !

Yes. Although same parent company, the same bank in Malaysia and Singapore are two separate entities. So the local bank can recommend, but it is up to the Sg bank to accept.

I heard HSBC can open overseas branch accounts right in Malaysia. I never tried though so I am not sure.

Rich people always are welcome and given privilege. The banks in Singapore will still welcome preferred/privileged/premier customers. The ballpark figure is US$300k thereabout. Or like you said, buy a big insurance policy.

For those who are small timer, it is arguable whether it is worth the while to open and maintain the forex account and trading platform in Sg. It may be more cost effective to use a local trading platform first and then when he grows bigger, only consider shifting to Sg.

SGD is created purposely to enable easy travel... one single SGD10K note fits nicely in the wallet. 

Suggest some good investments over at Sgp please. 

Something with lower risk. But FDs are only 1.28% max over in Singapore. 

http://www.dbs.com.sg/personal/deposits/sa...-visa-debit-faq

DBS enhanced DBS Visa Debit card + multi currency savers account
Basically if you have foreign currency in your multi currency account you can use it for POS/online txn at no fees