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 Opening a Bank Account in Singapore

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elea88
post Apr 27 2024, 10:06 AM

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QUOTE(!@#$%^ @ Apr 26 2024, 06:18 PM)
how long did it take to refund back into ur account? i called maybank hotline, the fella ask me to ask my imaginary RM  doh.gif
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few hours later. i tested SGD100 first before sending more. then stress when no $ receive in sg.
then later I check it was refunded.
ws7
post Apr 29 2024, 11:30 AM

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QUOTE(Medufsaid @ Apr 26 2024, 01:28 PM)
influencers should always make sure their info is correct, if outdated, have to immediately retract their posts/videos. no harm in trying out the old Wise method, just need to wait for phone call only.

my friend's experience was this

  • deposited $1k via wise
  • 28 days later receive call to bankin via CIMB MY
  • 18 days later acct finally opened. you do the math of grand total of days
i recommend opening MBB sg ar-rihla first instead https://apply.maybank.com.sg/regionalcasa/A...Opening/arrihla
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"Minimum fixed monthly deposit for Ar Rihla Regular Savings Account-i: S$50"
What's the penalty if I do not do any monthly deposit?
Medufsaid
post Apr 29 2024, 11:32 AM

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ws7 no annual interest profit. https://www.maybank2u.com.sg/iwov-resources...lar-Savings.pdf

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leagueoflegend
post Apr 29 2024, 01:56 PM

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anyone knows if i have OCBC in Malaysia, can i open OCBC Singapore online and link them together? thankss
!@#$%^
post May 1 2024, 01:47 AM

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QUOTE(elea88 @ Apr 27 2024, 10:06 AM)
few hours later. i tested SGD100 first before sending more. then stress when no $ receive in sg.
then later I check it was refunded.
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money lost in thin air, had to file report. guess this duitnow/paynow thing is dead


QUOTE(leagueoflegend @ Apr 29 2024, 01:56 PM)
anyone knows if i have OCBC in Malaysia, can i open OCBC Singapore online and link them together? thankss
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cannot
tropik
post May 3 2024, 11:24 AM

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QUOTE(Medufsaid @ Apr 26 2024, 09:54 PM)
you pick what you want to do next

  1. activate MBB sg with S$200, then send S$1k to CIMB sg

    activate MBB sg using these steps from Maybank2u m'sia
    then once it's active, activate CIMB sg by sending S$1k from MBB sg
  2. send S$1k to CIMB sg from CIMB my, ignore MBB sg. don't wait any longer as CIMB sg acct could risk closure if no deposit done
  3. same as step 1, however, send only S$150 to CIMB sg, as experiment to replicate what Avangelice experienced

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I managed to deposit S$1000 from CIMB MY on the 29th April, about RM30 higher than Wise rate. Dont want to risk them calling me days later.

Then the MBB SG debit card arrived after that, which I thought of not proceeding with the account, but since it arrived at door step, why not.

Now trying to fund MBB SG from CIMB SG, but maybe due to my limited exploration on CIMB Clicks (.my website) and even the CIMB Octo app, it seems I can't do anything with my CIMB SG money.

Supposed to receive info on how to create login to CIMB SG account right? Currently I find the separation of MBB MY and SG better for handling (like registering for PayNow)

QUOTE
Step 1: Activate Your Account

Transfer the initial deposit into your new account via FAST from your personal bank account with another bank in Singapore.Should you wish to perform a funds transfer from your CIMB Malaysia account, simply link your new account to your CIMB Malaysia Clicks Internet Banking. Thereafter, perform a transfer from your own CIMB Malaysia account to activate your new account.

Step 2: Access your account via CIMB Clicks

Your account will be activated within 5 business days if the documents submitted are in order and the initial deposit is received, subject to the Bank’s approval.You will receive a 6-digit Activation Code via SMS within 1 business day upon account activation for you to perform your First Time Login via CIMB Clicks.Download CIMB Clicks Mobile App and set up your Digital Token to perform high value transactions.

Thank you once again for choosing CIMB Bank.

CIMB Bank Berhad,
Singapore Branch
Medufsaid
post May 3 2024, 11:32 AM

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tropik have you activated CIMB Clicks SG yet? until they manually approve and give you OTP sms code to sign up @ http://cimbclicks.com.sg/, the SGD money is effectively frozen. can see cannot touch from CIMB my

activating MBB sg would've been faster. CIMB sg approval will take 2 weeks and above. so unless u are ok to send S$200 from MBB my, might be better to let the MBB sg acct die else you have the monthly S$2 fee waiting for you if you are going to wait for CIMB sg clicks to be activated

This post has been edited by Medufsaid: May 3 2024, 11:44 AM
tropik
post May 3 2024, 11:50 AM

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QUOTE(Medufsaid @ May 3 2024, 11:32 AM)
tropik have you activated CIMB Clicks SG yet? until they manually approve and give you OTP sms code to sign up @ http://cimbclicks.com.sg/, the SGD money is effectively frozen. can see cannot touch from CIMB my

activating MBB sg would've been faster. CIMB sg approval will take 2 weeks and above. so unless u are ok to send S$200 from MBB my, might be better to let the MBB sg acct die else you have the monthly S$2 fee waiting for you if you are going to wait for CIMB sg clicks to be activated
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Is MBB SG strict about having the first transfer from another account under my own name?

What about via Wise under my own name?
Medufsaid
post May 3 2024, 11:52 AM

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tropik you can always try. it doesn't work for someone else
QUOTE
Hi Sifu,
How do i perform an initial transfer SGD500 to Maybank SG iSAVvy Savings Account?
My WISE transfer didn't work...

Tq,
FattyBoy
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tropik
post May 3 2024, 01:42 PM

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QUOTE(Medufsaid @ May 3 2024, 11:52 AM)
tropik you can always try. it doesn't work for someone else
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Noted, will wait few more days for the pin from CIMB SG.
Thanks.
Medufsaid
post May 3 2024, 01:55 PM

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ar-rihla need to maintain monthly average of S$200. or if calculate in another way, daily balance accumulated for 1 month (30 days) need grand total of S$200 * 30 days = S$6,000
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post May 9 2024, 07:09 PM

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after raising issue with maybank my, was promised the duitnow overseas transfer refund by tmr.

i then tagged my paynow to maybank sg from ocbc sg, and successfully transferred from maybank my via duitnow overseas. very good rates.
damien5119
post May 11 2024, 11:22 AM

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QUOTE(Medufsaid @ Apr 26 2024, 01:28 PM)
influencers should always make sure their info is correct, if outdated, have to immediately retract their posts/videos. no harm in trying out the old Wise method, just need to wait for phone call only.

my friend's experience was this

  • deposited $1k via wise
  • 28 days later receive call to bankin via CIMB MY
  • 18 days later acct finally opened. you do the math of grand total of days
i recommend opening MBB sg ar-rihla first instead https://apply.maybank.com.sg/regionalcasa/A...Opening/arrihla
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thanks for the tip. did it in 10 mins. just waiting on approval now.
Medufsaid
post May 11 2024, 11:34 AM

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damien5119 MBB ar-rihla? good. after MBB sg acct is up and running, you can slowly open CIMB sg (for the better than midvalley SGDMYR rates)
damien5119
post May 11 2024, 12:24 PM

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QUOTE(Medufsaid @ May 11 2024, 11:34 AM)
damien5119 MBB ar-rihla? good. after MBB sg acct is up and running, you can slowly open CIMB sg (for the better than midvalley SGDMYR rates)
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roger. thanks again
Ramjade
post May 13 2024, 07:01 AM

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QUOTE(bokbokchai @ May 12 2024, 11:37 PM)
Lately I saw money match rate seems to be cheaper than wise rate. If I don’t have any cimb sg or mbb sg account. Can I actually use money match to remit money into wise account’s sg balance?
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Learn to open a sg bank account. Maybank, OCBC sg all can be open online. If you don't want to open a sg bank account, open rhb multi currency account then. It have very good rates.
Medufsaid
post May 13 2024, 08:26 AM

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Ramjade rhb mca won't fix his issue which is ibkr
QUOTE(bokbokchai @ May 10 2024, 03:06 PM)
Found out rate actually better than converting via IBKR deposit page. Wish to maximise the exchange since will be converting quite frequently to invest. Any idea or lobang that I can save more on MYR->USD process.
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Ramjade
post May 13 2024, 08:41 AM

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QUOTE(Medufsaid @ May 13 2024, 08:26 AM)
Ramjade rhb mca won't fix his issue which is ibkr
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I think it will. Why? Cause you can change inside RHB and wire it over to IBKR. Of course unless wiring to IBKR is kinda of block by BNM as I have seen some people said they cannot wire money to IBKR using Maybank.

Rhb multicurrency is a real multi currency account. It should have ability to send and receive foreign currency.
moonsatelite
post May 13 2024, 11:53 AM

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just a small update/ info furnishing, to those who opened an OCBC SG account via OCBC Digital account opening (MyKad and Malaysian passport), you ARE considered as a non-resident.

you will need to maintain SGD $20,000 after the first year of account opening or else you will be charged a fall below fee every month.

i opened a Monthly Savings Account alongside that account and i visited a branch to close the Statement Savings account and the Global USD account will be closed too.

i furnished my work document and passport, i am considered a resident in Singapore and no point for me to keep the Statement Savings account + Global USD account hence why i closed the account.

i was informed that you have to close the account in person
Medufsaid
post May 13 2024, 12:01 PM

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--edited--

OCBC SG no longer applicable to malaysians. removing this post

This post has been edited by Medufsaid: Jul 6 2025, 08:03 AM

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