Last week I went to Singapore to try to open a bank account there.

I am a Privilege Banking customer in UOB Bank Malaysia. Since I wanted to open a UOB bank account in Singapore, I requested for a reference letter from my UOB branch and they provided it to me, though they said that it's no guarantee that the UOB branch in Singapore will open an account for me as it's getting more strict in Singapore.

I went to the UOB branch in Orchard Road and the lady staff (for account opening) that initially attended to me asked me what is the purpose that I would like to open an account. I said that it's for investment purpose. She said that it's getting more strict in Singapore for foreigners to open a bank account. Then she said that she will refer me to another colleague who is in the investment department (at that point of time, a thought came to my mind that I shouldn't have said that the bank account is for investment purpose).

This other colleague of hers was also another lady. She tried to engage in some small talk and ask about my background. Then she tried to sell me on some kind of unit trust savings plan, that goes together with a savings account. The bad thing about this unit trust savings plan is that you have to put in a monthly sum for five years. You can only withdraw a partial sum before the end of the five years, so this means you will lose money if you withdraw before the end of the five years. And the minimum amount that the branch will apparently accept from a foreigner is S$1000 per month! Obviously I didn't agree with the unit trust savings plan and she wasted 40 minutes of my time. Before I left, I told her that I was disappointed.

Anyway, I haven't given up on opening a bank account in Singapore yet. I'll try again with two other UOB branches since I understand that not all branches are the same and some could possibly be more lenient than others.

As a note, please do not go and open an account with UOB branch in Orchard Road. Try other branches.

Since I am going to Singapore again only some time next year, I won't be able to try two other branches until then.

I think that you should try one of the UOB branches that is outside the city, like in Toa Payoh or Ang Mo Kio. That's because most of the UOB branches in the city see numerous bank account applications by Malaysians, as least from what I understand from that lady banker in the Orchard branch. Going to a UOB branch that doesn't see that many applications by Malaysians or foreigners could help.

ShinG3e is right. I have not be charged a single cent yet by them. Why?
1) I deposit my money via CDM and not counter
2) I keep min SGD500 inside
3) for transfer I am using FAST transfer (like our IBFT except it's free)
4) Maybank SG is not the best bank to bring money back to Malaysia. Best bank is Cimb sg (they are having a promo and will refund the difference if you you can prove that another bank give better rates than them/DBS. If you want cheaper stuff, use fintech like SingX or transferwise.

Yes. The only requirement by CIMB Sg is that you have to transfer your first deposit to open a bank account with them from another Singaporean bank account. You can do that through FAST transfer from your Maybank SG account.

You can register yourself at cimb.com.sg. You don't need to be present there to open an account.

Head over to Cimb sg, look for Cimb fast saver,  click apply,  fill up all the details,  upload all scanned documents, 

When you are done, log into your other SG account and transfer SGD1000 into it via FAST (their version of IBFT but free). Account must be under your name alone. Joint account is not allowed. 

The SGD1000 is just to prove your identity.  Later on, you can withdraw out everything also can. Sometimes I keep SGD10 only inside.

USD account need to walk in. And you can't really move USD between SG banks via online.

Why nobody open account in Thailand?

Just came back from SG. i heard from bank staff,  by July 2018.. Malaysians cannot open ac in Sg anymore unless got working permit. So if u want open yr ac do it fast...

Hi,

Does Maybank isavvy account in Singapore allow to keep the currency in USD?

I've checked on Maybank MY Foreign currency account, and they mention there is charges of USD4 for each deposit & withdrawal. Besides, you need couple of documentation to prove the purpose of the account opening..

I'm looking alternative to transfer the USD fund back and forth without losing much on the conversion rate. Any advice? Thanks

Actually wrong. I use them successfully transfer to a UK company which needs a UK bank account. So their service is good.

They are not bank but they are regulated by UK laws.

People, any cheaper way to send money from SG to Malaysia?
M2u.sg charges $15

InstaREM no good for SG to MY ? I have done MY to SG and their rate is pretty good, and process to do the transfer was a breeze...

How much is the service charge using TW to send money from SG to MY ?

Send to which account ?

How much does the account deduct from the incoming funds please ?

Bro,... no need to comment too much abt people's things from the past-lar,... We never know who is right and who us wrong in many instances of life,..

any other service charge?

transfer wise hv to open ac etc etc..

in case emergency tot CIMB SG will be faster if only the 1 / 2 cent difference.
just need to know if any hidden charges

Their opening account all online. Keep in mind Cimb SG only can transfer money from SG to MY. The current cheap rates is a promo. Not a feature. Utilised it while promo is on going.  With transferwise can accept money and transfer money to and from anywhere in the world.
Valid for priority customer only or regular customer?

iSavvy can use SMS token.

Call them up and get it unlocked? Maybank cs is pretty responsive and helpful.