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 Opening a Bank Account in Singapore

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!@#$%^
post Feb 18 2024, 10:14 AM

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QUOTE(Medufsaid @ Feb 18 2024, 10:05 AM)
erm, it's missing Mastercard/Visa logo
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that's y it's a pure atm card, no debit card function
poooky
post Feb 18 2024, 11:59 AM

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QUOTE(Mr Gray @ Jan 5 2024, 08:04 AM)
Here u go. Referral code deleted already. Hahahaha

Happy to share that I have successfully opened my OCBC Singapore account with just my IC and Passport.

The process of applying through the app is a bit a pain in the ass, as needs to do several times for the app to accept my IC. Tips, the ic can be slightly outside the rectangle.

Took about 3 working days for the account to be approved. Was given Global Savings Account and Statement Savings Account.

Initial deposit required is just SGD1000, it can be from your Singaporean bank account or Malaysian bank account. I already have Maybank SG account. So this is very seamless.

Despite the T&C showing initial deposit for non-resident Statement Savings Account is SGD20k. I just needed to deposit SGD1k. Not sure if this only applies for Malaysians or what.

Regardless, even if the fall below fee for non-resident Statement Savings Account which is 20k is imposed as per T&C (no fee for first year), don't worry, we can go around this.  cool2.gif

Once you have access to the OCBC SG online banking, you can immediately apply for other accounts like OCBC 360 (minimum balance 3k) or OCBC Frank (minimum balance 1k), Monthly Savings account (minimum balance 500) or other OCBC SG accounts. I prefer OCBC 360. I will close Statement Savings Account after this.

So for all Malaysians residing in Malaysia, with no SG pass whatsoever. Right now we have 3 easy options for SG bank accounts (Maybank, CIMB and OCBC), everything done online, super easy.
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Have you closed your OCBC SG Statement Savings Account yet? I don't see any option to do so online. From the site's FAQ https://www.ocbc.com/personal-banking/help-...ccounts/general, it seems that the only ways to do so are to either:

1. Physically mail Accounting Closure Form,
2. Walk into a branch to do so

Anyone else have gone through this process? I opened my account around Nov last year so still have some waiver time, but need to start preparing.. lol.

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privatequity
post Feb 18 2024, 03:47 PM

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QUOTE(poooky @ Feb 18 2024, 11:59 AM)
Have you closed your OCBC SG Statement Savings Account yet? I don't see any option to do so online. From the site's FAQ https://www.ocbc.com/personal-banking/help-...ccounts/general, it seems that the only ways to do so are to either:

1. Physically mail Accounting Closure Form,
2. Walk into a branch to do so

Anyone else have gone through this process? I opened my account around Nov last year so still have some waiver time, but need to start preparing.. lol.

user posted image
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i juz opened via app n its created instantly. why prefer OCBC 360? i have Statement Savings Acc and Global Savings Acc now.
Medufsaid
post Feb 18 2024, 04:04 PM

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privatequity 360 had a promo going on
QUOTE(Medufsaid @ Jul 25 2023, 05:26 PM)
(haven't fully read TnC for any catch yet) seems like no fall below fee for the 1st year (deposit, then withdraw), but this means u need to set a calendar to close it 6 months in the future, all to get that S$15 reward
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This post has been edited by Medufsaid: Feb 18 2024, 04:37 PM
privatequity
post Feb 18 2024, 04:06 PM

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QUOTE(Medufsaid @ Feb 18 2024, 04:04 PM)
privatequity 360 had a promo going on. S$15 upon successful open
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i see, should i create? or stick to Statement Savings Acc for simplicity?
!@#$%^
post Feb 18 2024, 04:07 PM

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QUOTE(privatequity @ Feb 18 2024, 04:06 PM)
i see, should i create? or stick to Statement Savings Acc for simplicity?
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consider the fall below fee
privatequity
post Feb 18 2024, 04:08 PM

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whats the best way to fund my singapore ocbc acc? convert myr to sgd to Wise. And transfer from Wise to SG OCBC?
Medufsaid
post Feb 18 2024, 04:14 PM

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Use moneymatch. Remit on weekday 9am and it'll appear in sg bank by lunchtime. If under RM3k, can use duitnow overseas transfer

btw, what are the minimum balance required for both your ocbc acct?

This post has been edited by Medufsaid: Feb 18 2024, 04:21 PM
privatequity
post Feb 18 2024, 04:21 PM

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QUOTE(Medufsaid @ Feb 18 2024, 04:14 PM)
Use moneymatch. Remit on weekday 9am and it'll appear in sg bank by lunchtime

btw, what are the minimum balance required for both your ocbc acct?
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where to check the minimum balance?
Ramjade
post Feb 18 2024, 06:48 PM

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QUOTE(privatequity @ Feb 18 2024, 04:21 PM)
where to check the minimum balance?
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https://www.ocbc.com/assets/pdf/23_pb_fees_charges.pdf
poooky
post Feb 18 2024, 07:08 PM

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QUOTE(privatequity @ Feb 18 2024, 03:47 PM)
i juz opened via app n its created instantly. why prefer OCBC 360? i have Statement Savings Acc and Global Savings Acc now.
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Did not open 360 as it needs 3k minimum balance. SSA and GSA are given by default on new account creation, but SSA requires 1k min balance waived for first year. Eventually will need to close SSA to open the Monthly Savings Account which only requires SGD500 minimum balance.

Question now is whether SSA can be closed online? Or will need to physically mail in / walk into branch.


lwlim
post Feb 18 2024, 07:13 PM

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QUOTE(poooky @ Feb 18 2024, 07:08 PM)
Did not open 360 as it needs 3k minimum balance. SSA and GSA are given by default on new account creation, but SSA requires 1k min balance waived for first year. Eventually will need to close SSA to open the Monthly Savings Account which only requires SGD500 minimum balance.

Question now is whether SSA can be closed online? Or will need to physically mail in / walk into branch.
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It's SGD 20K minimum balance for SSA if you're non SG resident.

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privatequity
post Feb 18 2024, 07:28 PM

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QUOTE(lwlim @ Feb 18 2024, 07:13 PM)
It's SGD 20K minimum balance for SSA if you're non SG resident.

user posted image
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so i just created, i dont need maintain SGD 20k and above for now?
privatequity
post Feb 18 2024, 07:32 PM

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OCBC SSA SG Acc, can i get debit card?
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post Feb 18 2024, 07:38 PM

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QUOTE(privatequity @ Feb 18 2024, 07:32 PM)
OCBC SSA SG Acc, can i get debit card?
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u need working pass for malaysians
privatequity
post Feb 18 2024, 07:40 PM

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QUOTE(!@#$%^ @ Feb 18 2024, 07:38 PM)
u need working pass for malaysians
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i see, without working pass, i can only get bank acc n do online transfer?
!@#$%^
post Feb 18 2024, 07:56 PM

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QUOTE(privatequity @ Feb 18 2024, 07:40 PM)
i see, without working pass, i can only get bank acc n do online transfer?
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yes for now
Mr Gray
post Feb 18 2024, 09:56 PM

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QUOTE(poooky @ Feb 18 2024, 11:59 AM)
Have you closed your OCBC SG Statement Savings Account yet? I don't see any option to do so online. From the site's FAQ https://www.ocbc.com/personal-banking/help-...ccounts/general, it seems that the only ways to do so are to either:

1. Physically mail Accounting Closure Form,
2. Walk into a branch to do so

Anyone else have gone through this process? I opened my account around Nov last year so still have some waiver time, but need to start preparing.. lol.

user posted image
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Not doing anything. Just leave it there. Why bother to close? I'm keeping it for my SGD savings. Every month transfer money from MYR to SGD

Lol why u opened, if wanna close barely a few months after that?
Medufsaid
post Feb 19 2024, 01:04 AM

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Mr Gray bcos by default you are given GSA/SSA. Now they want to migrate to MSA with lower amt of locked up funds
kart
post Feb 19 2024, 08:20 AM

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QUOTE(moonsatelite @ Feb 18 2024, 10:02 AM)
here's what the card looks like
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When you applied to open CIMB FastSavers Savings Account via CIMB Singapore internet banking website, what additional steps did you perform in order to get CIMB Singapore ATM card?


I did not receive a CIMB Singapore ATM card, so I may have missed out the required steps.


I am interested in only CIMB Singapore ATM card, since the card seems to be issued free of charge, as compared to CIMB Singapore debit card with SGD 10 issuance fee.


Thank you for your information. smile.gif

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