Yes I have savings account. but i need to deposit my physical SGD into savings acc, can be done?

can be done via TT but the rate is expensive. you can deposit your SGD physically at a better rate if you frequent SG.

Yeah, that's why i think to go SG to open acc, since local Mybank requires me to purchase SGD from bank to deposit into local foreign currency account (which way to expensive), so if i go to SG maybank branch, can open savings without PR nor Employment letter?

based on Maybank SG website, they do require those documents like Eletric bills/Water bills/PR/Employment later.

This post has been edited by antichrist: Jan 12 2017, 01:07 PM

If you apply at SG maybank branch, you would need Employment Pass or Work Permit. If you apply here at Msia, you don't need to. Depends on your preference and if you are able to provide the criteria.

I recommend you don't wait. The longer you wait, you may regret it if Singapore government close their doors. It already closing. Almost 90% of banks in Singapore now require a working pass to have account with them.

Fair enough. I will look into it. Thanks!

1-2 years ago, one can freely walk into any SG banks and ask for a bank account. No questions asked. Well do update here if you managed to get one and how you managed to open. It will help people who wants to open.

DON'T UPDATE HERE TOO MUCH ! THE DOORS WILL BE CLOSED FASTER ! USE PM ! SOME GOVTS AND AUTHORITIES RE-ACT FAST, UNLIKE OURS !

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 !

5 years ago, Malaysia bank account does need all these crap.

Even a valid work pass doesn't work on them. Die die must company HR's letter

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

There's a thread some where here that people who is unemployed having trouble with opening Maybank Malaysia (requires proof of employment). Also banks in Malaysia are kind of weird that your IC address must be within the bank radius. Say you are from KL. You went to Penang on holiday and decide to open a bank account in Penang, you will be denied opening. Not sure if it's applicable for all banks in Malaysia or just some banks.

Sorry off topic but is true about this.my cousin wanted to open an account in Maybank but was rejected even though the husband has supporting employee document from SG company.
Very strict rules and requirements now. Just my share on experience

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.

Compared to their Malaysian counterparts, Singapore Banks all follow strict SOPs on all their transactions.

The news with the one who kena tangkap holding so much foreign currency really
This applies to unemployed Malaysian also. But I don't think all banks that strict.

This post has been edited by Ramjade: Jan 13 2017, 11:41 AM

Those who kena tangkap are the really big fishes. I would suspect those are money changers transferring huge amounts for clients who do not want to go through proper channels.

Those who kena tangkap got their money in illicit ways. This is the basis of it !

There is definitely a back channel for such things. Just not publicly available to normal citizens.

Bro,... I think these back channels are slowly closing down,...Doors are closing, otherwise, we wouldn't have so many 'sonlap pros' keeping foreign currency cash in their homes and in their kampungs. On a personal level, I too find many of the easier channels previously are no more there, and rules are tighter nowfor funds movement.

The 1MDB event sealed the hole tighter,... NR moved fast, he's smart, becos after him,... that govt agency is allowed to go after the rest of the big 'songlap professionals',... he slipped through first with a big haul. This is what I heard too from my private banking circle in Sgp !

Now 'catching 5th individual' !