Why you want close Maybank SG account?

Maybank SG account might require minimum account balance. I closed my traditional DBS acct (minimum S$500 balance) and opened a CIMB sg one bcos of that (DBS eMySavings requires S$0 balance but i decide to use CIMB to link to CIMB MY)

Choose OCBC over UOB. UOB internal control systems weak and there had been cases of scam/fraud and bank is not helpful.

https://www.theonlinecitizen.com/2023/02/28...s-bank-account/

Neither. Cause both also got fall below fees. Go for trust bank (digital bank) which I have no fees.
I am not sifu as I do t have uob or OCBC. Even if I can open I won't want to open so many.

Maybe cause never use?


DBS my account is better than cimb as it's a multicurrency acocunt and no fall below fees. I keep only SGD0.10 inside.

Because of this: https://forum.lowyat.net/index.php?showtopi...ost&p=107415347

Yea as Ramjade suggested.

You should have opened a DBS My Account (using their digibank mobile app) a few months after opening whichever other DBS account you opened earlier (usually 6 months because that's the maximum period in which the early account closure fee will be effective). https://www.dbs.com.sg/iwov-resources/pdf/d...-deposits-guide

I forgot to mention I'm an OCBC shareholder lol

Which OCBC account do you recommend? https://www.ocbc.com/personal-banking/deposits

I prefer the minimum 500 SGD monthly deposit (to avoid 2 SGD fall-below fee) monthly saving account.

The FRANK account which targets uni students like me have a 1k SGD minimum monthly balance after I turn 26 (in 2 years time...)

The popular 360 account have a monthly minimum of 3k SGD...

Do I miss out anything or do you have different views?

SG banks are flushed with so much cash that banks are forced to lend them to MAS.

https://www.sinchew.com.my/20230619/%e7%8b%...b8%ad%e8%a1%8c/

Today I also saw this news

Maybank sg FD is the best currently.

I close my mabank sg acc before COVID.

I do not have singapass nor am I a PR/work permit.

can I open Maybank sg acc at any of the Malaysia branches, is it still work ?

The effective rate is 3.55-3.6% p.a. only. It's a bundled FD promo, like the ones you see often in Malaysia...

https://www.maybank2u.com.sg/en/promotions/...me-deposit.page

https://forums.hardwarezone.com.sg/threads/...#post-148013415

This post has been edited by TOS: Jun 21 2023, 10:56 AM

Just put into Moomoo mmf and earn more or less the same with Maybank FD minus the locking up period and min amount.

yup. u can search Ziet's youtube videos where he discussed CIMB sg vs MBB sg.

one major downside is MBB sg requires you to have minimum S$500 in your account else you kena charged monthly fee, so to me that's a deal breaker

what is Moomoo mmf ?

I have just spoken to MBB RM and its possible to Open Spore Isavvy acc in msia


This post has been edited by ccschua: Jun 21 2023, 11:39 AM

Moomoo is an online brokerage. Mmf is money market fund.
https://growbeansprout.com/cash-management-...singapore-guide

other than fix instrument like FD or EPF, i will not consider as this is the retirement funds.

I know a lot of funds can outperform the CPF/EPF. but just cant guarantee the rate.

https://thesmartinvestor.com.sg/4-singapore...of-4-9-or-more/

Maybank SG and CIMB SG FDs for you then.

If you are ok with money market mutual funds (purely loans/deposits and MAS Bills), then you may consider Fullerton SGD Cash Fund.

Fullerton SGD cash fund invest in FDs basically.

I can confirm you are right. I just got my IPA letter from ICA today. My student pass has been approved and the FIN number is exactly the same as that of the work holiday pass I applied last year. So the FIN is a unique identity number tied to each individual regardless of which pass you apply.

I follow the steps outlined in the CIMB account opening, when I tried to link the singapore CIMB to my main CIMB Clicks, I receive a tag to approve in my hp cimb app. after approval, the cimbclick rejected with the message
"Sorry, we've encountered an unexpected error.
Please try again. If this continues, please contact our Call Centre to report this issue. [CLK01371]"

UPDATE 27 JUNE. I perform another trial. this time key in IC number without the dash, voila, it works. omg, why is cimb clicks so dumb. no prior check.

Question : If I transfer sgd from cimb sg to sg local banks online, any transactions charges ?

This post has been edited by ccschua: Jun 27 2023, 01:01 PM

No charges if you use FAST, which is instantaneous. 200k SGD limit per transaction.

For remittance >200k SGD, you can use MEPS (MAS Electronic Payment system). Should be real-time settlement as well. Charges apply: https://www.cimb.com.sg/en/personal/help-su...remittance.html

This post has been edited by TOS: Jun 28 2023, 04:06 PM

A slightly old news:

MAS proposes raising coverage of deposit insurance scheme to S$100,000

CNA reports: https://www.channelnewsasia.com/singapore/d...oposals-3589751

Straits Times reports: https://www.straitstimes.com/business/mas-p...0000-from-75000

HWZ thread: https://forums.hardwarezone.com.sg/threads/...75-000.6918136/