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 Opening a Bank Account in Singapore

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Ramjade
post Dec 25 2019, 06:43 PM

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QUOTE(alexanderclz @ Dec 25 2019, 06:38 PM)
hmmm I didn't meet anybody to open also
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You went to their office and open?

This post has been edited by Ramjade: Dec 25 2019, 06:43 PM
Ramjade
post Dec 25 2019, 06:53 PM

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QUOTE(alexanderclz @ Dec 25 2019, 06:47 PM)
nope, everything online. kyc verification just snap snap the ic as usual.
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Then must be new. Last time my time no choice. Need to somehow meet them up.
Ramjade
post Dec 26 2019, 05:21 AM

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QUOTE(asakura_hao @ Dec 25 2019, 10:06 PM)
I also opening the instarem account all going through online, snap photos driving license/ic, selfie, everything do online.

Afterthat everything done, just find out cannot use Malaysian instarem to transfer SGD to MYR, so I just change to TransferWise.
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Memang. We Malaysians practically got no luck with instarem Singapore. There are only 3 ways to bring money back to Malaysia from Singapore.
- transferwise
- cimb sg
- 3rd fintech not tested yet.

QUOTE(alexanderclz @ Dec 25 2019, 10:23 PM)
how's TW rates from SGD to MYR?
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Not very good. Cimb usually better rates. But still cheaper than DBS. Cimb > transferwise > DBS

QUOTE(alexanderclz @ Dec 25 2019, 11:10 PM)
had issues with financial authorities before? or maybe as ramjade say, ur location cannot 'open' account?
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QUOTE(jack2 @ Dec 25 2019, 11:27 PM)
No. If my location cannot open account, sure they will tell me so. Now they claimed that it is their internal policy and cant tell me why.

I believe that they must google my name and found that I have companies in oversea and thought that I am going to do money laundering. The reason why they can't disclose they reason is, they afraid of salah by saying that I opened the account for money laundering and being sued.
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I think got issue with transferwise (got something to do with him involving with bitcoin). Hence sharing of information among financial companies.

This post has been edited by Ramjade: Dec 26 2019, 05:21 AM
Ramjade
post Jan 20 2020, 09:56 AM

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QUOTE(frostfrench @ Jan 20 2020, 08:52 AM)
Thank you everyone for the inputs. Appreciate all of them.

My main purpose to ask whether to open a CIMB SG bank account is for me to transfer my money from CIMB MY. I am planning to transfer RM 1million in batches. I am looking for the best sales charges and best exchange rates.
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Open up cimb sg. Then contact instarem tell them you want to do a big transfer.

If you want priority service, best to go for DBS Treasures
Ramjade
post Jan 21 2020, 03:46 PM

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QUOTE(coolguy99 @ Jan 21 2020, 12:18 PM)
1mil for education in Malaysia? For a doctor degree?
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Nowadays doctor job not guaranteed already. Look at sibu. Kena fired just like that. No reason.
Ramjade
post Feb 25 2020, 01:25 AM

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QUOTE(moosset @ Feb 24 2020, 11:52 PM)
yes, you got a reason. That's why.

I'm also premier but when I wanted accounts in other countries, they said I need to give them a reason.
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Yeah. Tell them you are investing overseas. Is a valid reason.
Ramjade
post Feb 25 2020, 07:14 AM

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QUOTE(echoesian @ Feb 24 2020, 11:02 PM)
How to apply Singapore bank account online?
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QUOTE(Eurobeater @ Feb 25 2020, 05:57 AM)
Which online platform did you use to apply for the SGD Bank acc? Or did you apply it though the online platform of big banks? And which broker you used to exchange the money?
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To open online account the answer is Cimb fast saver.
Then use Cimb Malaysia to transfer SGD1k over.
Aftrr that use instsrem to transfer movie over.
All no need travel down to Singapore.

This post has been edited by Ramjade: Feb 25 2020, 07:14 AM
Ramjade
post Feb 26 2020, 06:13 AM

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QUOTE(dChief @ Feb 25 2020, 10:45 PM)
how about OCBC?
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Depends on what account is it.
Google ocbc pricing guide pdf. You have the answer to your question.
Typically range range from sgd500-3000
Ramjade
post Feb 27 2020, 06:02 PM

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QUOTE(iamshf @ Feb 27 2020, 01:46 PM)
Ernmm .. trying foreign TT this morning
But was rejected .. ask to check bank acc.

Do I need to add in swift code or IBAN.
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Swift code, bank address doh.gif

This post has been edited by Ramjade: Feb 27 2020, 06:02 PM
Ramjade
post Feb 27 2020, 09:26 PM

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QUOTE(iamshf @ Feb 27 2020, 08:12 PM)
Ok .. managed to transferred sg acc.
Wasted RM10 service charge for foreign tt.

No service charges once MY SG acc linked

🤦
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RM10 is the least of your worry. You can check money changer website like spectrum forex and see how much Cimb is actually earning from you.
Ramjade
post Mar 1 2020, 06:38 PM

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QUOTE(cklimm @ Mar 1 2020, 03:29 PM)
Dear proud holders of Sg account(s), are we now obliged to declare this on efiling?

[attachmentid=10438721]
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I will declare.
What did you declare?
Ramjade
post Mar 1 2020, 06:39 PM

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QUOTE(iamshf @ Feb 27 2020, 10:41 PM)
CIMB rate 3.065
Bigpay rate 3.03 .. first time is FOC

Now exploring investment acc in sg
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You cannot use bigpay for first transfer.
Ramjade
post Mar 22 2020, 10:40 AM

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QUOTE(thecurious @ Mar 21 2020, 11:55 AM)
From the recent posts, it seems like no longer possible to open account if not working there?
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Only way is to test yourself and see.
Ramjade
post Mar 30 2020, 12:24 PM

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QUOTE(EddieBrock @ Mar 30 2020, 12:21 PM)
Still possible to open SG account without PR or EP?
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Don't know. Some say no as rules may have tighten. Only way is experiment yourself.
For me if you are desperate and really want it, you will try. I know I did.

This post has been edited by Ramjade: Mar 30 2020, 12:25 PM
Ramjade
post Apr 20 2020, 08:39 PM

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QUOTE(ben3003 @ Apr 20 2020, 08:19 PM)
i see. the rate is see inside cimb sg before transfer? cos i see the rate inside cimb my sucks like mad.. i now linking my cimb sg to my malaysia acc see how.
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Cimb SG -> Cimb my : very good rates
Cimb my -> Cimb sg : avoid at all cost
Ramjade
post Apr 21 2020, 08:55 AM

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QUOTE(!@#$%^ @ Apr 20 2020, 08:56 PM)
what are the steps to transfer from cimb sg to cimb my?
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1st have an account.
2nd login
3rd click and play around. Answer is there. Can't remember the steps. You need to login into account to find out.
Ramjade
post Apr 24 2020, 04:41 PM

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QUOTE(mr_tuzki @ Apr 24 2020, 12:26 PM)
So pessimistic on MYR / Malaysia future.. haha.
Ok, Need to figure out a way to open SG account.
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Your answer is found here.
Ramjade
post Apr 25 2020, 07:55 PM

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QUOTE(abcn1n @ Apr 25 2020, 07:27 PM)
Why are people not using TransferWise? So far I have been using TransferWise instead of Instarem to transfer RM to SGD. Very fast. Is CIMB SG-->CIMB my better than transferwise's rate?

Noticed that xe.com may also be able to transfer? Not sure. Did not explore it
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Transferwise most of the time expensive vs instarem. Is the only fintech I will use for bringing money back to Malaysia should there be a need. There is another fintech based in singapore which allows malaysians to open an account online. Have not tried them yet. But I know this fintech rates is the cheapest.

Cimb sg rates sometimes better than transferwise. Surprisingly. Forget about xe. We cannot use XE. XE is only for westerners.

This post has been edited by Ramjade: Apr 25 2020, 07:57 PM
Ramjade
post Apr 25 2020, 08:18 PM

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QUOTE(mr_tuzki @ Apr 25 2020, 08:14 PM)
What's the best / easiest way to open a Sg bank account, without having to physically go there? I thought it was quite difficult to open an Sg bank account unless you're a PR / have a long term resident visa? Is it possible to open ask our Malaysian Maybank / CIMB branch to open a corresponding account with their Sg counterpart?
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Your answer is found here. Kindly read. No spoon feeding.
Ramjade
post Apr 25 2020, 08:40 PM

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QUOTE(cklimm @ Apr 25 2020, 08:39 PM)
I am actually using BigPay to transfer to SG. Yes, it is not the best rate, but what else gives you 50 days of interest free period?
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Hehe... Only RM10k each time right?

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