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 Opening a Bank Account in Singapore

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Ramjade
post Aug 2 2023, 11:30 PM

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QUOTE(freeofjeff @ Aug 2 2023, 10:52 PM)
yes, thanks for correcting

money transfer more niceeee....  rclxms.gif   appreciate for your sharing, in need of these platforms nowadays
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This is one time test. Will test multiple times for consistency (next will be when I transfer money).

This post has been edited by Ramjade: Aug 2 2023, 11:31 PM
hksgmy
post Aug 3 2023, 09:23 AM

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QUOTE(TOS @ Jul 28 2023, 10:15 AM)
I am coming to SG to study... tongue.gif

Once I obtain my student pass, will open OCBC monthly savings account, dollardex (for Fullerton SGD cash fund), and ICBC SG (3-month FD always looks attractive compared to others).
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Welcome to Singapore! Will your PhD come with a monthly stipend? You could save a bit of that and stash that away as spare SGD smile.gif
SUSTOS
post Aug 3 2023, 09:47 AM

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QUOTE(hksgmy @ Aug 3 2023, 09:23 AM)
Welcome to Singapore! Will your PhD come with a monthly stipend? You could save a bit of that and stash that away as spare SGD smile.gif
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Yea. 2.2k SGD before qualifying exam, 2.7k SGD after that.

Supervisor told me my School may offer additional stipend for teaching assistant duties.

Now I know NTU got free food almost daily! Really saved a lot on meals. rclxm9.gif
hksgmy
post Aug 3 2023, 09:48 AM

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QUOTE(TOS @ Aug 3 2023, 09:47 AM)
Yea. 2.2k SGD before qualifying exam, 2.7k SGD after that.

Supervisor told me my School may offer additional stipend for teaching assistant duties.

Now I know NTU got free food almost daily! Really saved a lot on meals. rclxm9.gif
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Wah! You’ll save a bundle! So happy for you notworthy.gif
ccschua
post Aug 3 2023, 01:02 PM

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The hive must be really special, too bad didnt have a chance to view from inside.

I use to go Funan centre in the 90's for the chicken wing rice. the crispiest chicken wing ever tasted.

now it is a good time to convert to SGD.
Ramjade
post Aug 3 2023, 01:25 PM

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QUOTE(TOS @ Jul 28 2023, 10:15 AM)
I am coming to SG to study... tongue.gif

Once I obtain my student pass, will open OCBC monthly savings account, dollardex (for Fullerton SGD cash fund), and ICBC SG (3-month FD always looks attractive compared to others).
*
You don't need dollardex. Moomoo, tiger and moneyowl also have access to Fullerton SGD cash fund.
ccschua
post Aug 3 2023, 05:22 PM

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earlier someone discussed and asked about closing account and whether can be done online. well, i have just learned that (for OCBC account, not sure about others ), you can just transfer out the balance to zero.

since its zero balance, there is no minimum charges and after 6 months, the account will be closed.

there goes my OCBC Easi-save account, requiring Minimum SGD 3000 balance if not service charge of 7.5 + 2 per month.
Ramjade
post Aug 4 2023, 10:08 AM

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Next update
user posted image
user posted image
user posted image
Bigpay RM10k = SGD2927.91

Looks like moneymatch wins for now.
Medufsaid
post Aug 4 2023, 10:15 AM

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Ramjade
QUOTE(Medufsaid @ Aug 2 2023, 02:04 PM)
remember to subtract RM5 when u compare moneymatch (RM10000 becomes RM9995)
and subtract RM1 when u compare sunway money (RM10000 becomes RM9999)

these 2 will add-on those amt separately as service fee
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Ramjade
post Aug 4 2023, 10:24 AM

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QUOTE(Medufsaid @ Aug 4 2023, 10:15 AM)
Ramjade
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Already done. Still moneymatch cheaper. lol I am using sunway for today cause moneymatch tell me need ekyc? COme on la. I already perform eyc, how many times you want me to perform ekyc???
Medufsaid
post Aug 4 2023, 10:30 AM

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maybe you performed ekyc too long ago (or their database died and all old customers need to redo. my theory only). i only need to do ekyc once. already transferred via moneymatch twice already

This post has been edited by Medufsaid: Aug 4 2023, 10:35 AM
Ramjade
post Aug 4 2023, 11:13 AM

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QUOTE(Medufsaid @ Aug 4 2023, 10:30 AM)
maybe you performed ekyc too long ago (or their database died and all old customers need to redo. my theory only). i only need to do ekyc once. already transferred via moneymatch twice already
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Yeah maybe. Cause been years since I use them. I was one of their early users when no such other service exist in Malaysia.

This post has been edited by Ramjade: Aug 4 2023, 11:13 AM
SUSceo684
post Aug 4 2023, 11:19 AM

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unfortunately moneymatch only MYR-SGD
i need the other way lol
SUSTOS
post Aug 4 2023, 11:30 AM

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Err. I opened a Money Match account,

» Click to show Spoiler - click again to hide... «


Investing.com quoted 3.3932 as of 11:25.

So spread = [3.3932-(1005/294.05)]/3.3932 = about 72 basis points. That's about as terrible as Wise. No?
Medufsaid
post Aug 4 2023, 11:33 AM

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ceo684 use CIMB SG->CIMB MY during office hours.
in fact i noticed on some occasions, CIMB sg wants to buy your SGD more expansive than midvalley money changers selling SGD

can convert back to MYR, then take that MYR to buy back physical SGD in midvalley (ignore the impracticality of depositing the midvalley SGD into sg bank acct again)

This post has been edited by Medufsaid: Aug 4 2023, 12:48 PM
SUSTOS
post Aug 4 2023, 11:34 AM

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QUOTE(Medufsaid @ Aug 4 2023, 10:15 AM)
Ramjade
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Yea the RM 5 and RM 1 charged by Money match and Sunway Money do matter.

Must be careful with their "marketing strategy". laugh.gif

Such pricing methods are designed to trap unsuspecting customers.
Medufsaid
post Aug 4 2023, 11:38 AM

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QUOTE(TOS @ Aug 4 2023, 11:30 AM)
» Click to show Spoiler - click again to hide... «

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u need to send more to take advantage of the RM5 flat fee
user posted image user posted image
daily limit is RM30k... so u figure out your fund transfer strategy from there

oh yea... just ask us for money match referral codes

This post has been edited by Medufsaid: Aug 4 2023, 12:02 PM
Ramjade
post Aug 4 2023, 11:42 AM

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QUOTE(ceo684 @ Aug 4 2023, 11:19 AM)
unfortunately moneymatch only MYR-SGD
i need the other way lol
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So many fintech. Go try them out if you are working in Singapore. Worked remit, remit first, singx. Off limit to me because I don't work or study or have phone number or address there.

QUOTE(TOS @ Aug 4 2023, 11:30 AM)
Err. I opened a Money Match account,

» Click to show Spoiler - click again to hide... «


Investing.com quoted 3.3932 as of 11:25.

So spread = [3.3932-(1005/294.05)]/3.3932 = about 72 basis points. That's about as terrible as Wise. No?
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Don't compare like that. Compare final amount you will received for every RM10k.
SUSTOS
post Aug 4 2023, 11:44 AM

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Ah flat fee RM 5. So "volume" needs to be big enough.

Got it gentlemen.
SUSTOS
post Aug 7 2023, 11:21 PM

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QUOTE(TOS @ Jul 19 2023, 09:14 PM)
A deposit war is brewing in Singapore.

Digital bank GXS raised their maximum balance amount from 5k SGD to 75k SGD, the maximum deposit limit insured by SDIC. 3.48% p.a. interest with no conditions attached. Surely will put pressure on other banks.

» Click to show Spoiler - click again to hide... «


Source: HWZ GSX thread
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Opps...

QUOTE
With effect from 17 Aug 2023, the interest rate for

-Main Account will be adjusted from 0.08% p.a. to 2.38% p.a.

-Saving Pocket(s) will be adjusted from 3.48% p.a. to 2.68% p.a.

-There is no other change to your GXS Savings Account.


Source: https://forums.hardwarezone.com.sg/threads/...#post-148750777

Now angry Sporeans are planning to run GXS down on the 17th Aug laugh.gif

-------------------------

CIMB SG is offering 3.50% for 6 months on fresh fund deposited at the bank (CASA account): https://www.cimb.com.sg/en/personal/promoti...%20Customers%20

T&C for new customers: https://www.cimb.com.sg/content/dam/cimbsg/...st-promo-23.pdf

T&C for existing customers: https://www.cimb.com.sg/content/dam/cimbsg/...romo-23-etb.pdf

This post has been edited by TOS: Aug 7 2023, 11:22 PM

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