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 Opening a Bank Account in Singapore

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adam1190
post Sep 2 2024, 04:48 PM

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Which cimb Malaysia account the cheapest to open? As I need it before can open cimb Singapore account, thanks smile.gif
SUSTOS
post Sep 2 2024, 04:55 PM

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QUOTE(adam1190 @ Sep 2 2024, 04:48 PM)
Which cimb Malaysia account the cheapest to open? As I need it before can open cimb Singapore account, thanks smile.gif
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Basic Saving Account (BSA), the one mandated by BNM and will never be promoted to new customers laugh.gif

https://www.bnm.gov.my/documents/20124/5579...ng_services.pdf
adam1190
post Sep 2 2024, 05:06 PM

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QUOTE(TOS @ Sep 2 2024, 04:55 PM)
Basic Saving Account (BSA), the one mandated by BNM and will never be promoted to new customers laugh.gif

https://www.bnm.gov.my/documents/20124/5579...ng_services.pdf
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Thanks a lot smile.gif
Medufsaid
post Sep 3 2024, 09:03 AM

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adam1190 you might want to open MBB sg ar-rihla acct first. Since CIMB wants S$1,000 to be either transferred from CIMB MY or other local sg banks. Wise not accepted for CIMB sg verification

This post has been edited by Medufsaid: Apr 24 2025, 03:16 PM
SUSTOS
post Sep 5 2024, 03:06 PM

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CIMB SG cut rates across the board!

https://www.cimb.com.sg/en/personal/importa...ates-oct24.html

First 25k rate drop from 1.5% p.a. to 1.19% p.a.
adam1190
post Sep 10 2024, 03:25 PM

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QUOTE(Medufsaid @ Jan 9 2024, 08:50 PM)
| user posted image | user posted image | user posted image |
user posted image user posted image
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If I don’t have a Singapore number, can still use DuitNow overseas transfer? I tried searching past topics but cannot find any relevant information.

By the way, is it possible to do wise transfer from my Maybank Malaysia to Maybank sg account for the initial deposit?
Medufsaid
post Sep 10 2024, 03:31 PM

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adam1190 in maybank sg, try to find the place to add PayNow number. just key in your malaysian phone number
adam1190
post Sep 10 2024, 03:33 PM

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QUOTE(Medufsaid @ Sep 10 2024, 03:31 PM)
adam1190 in maybank sg, try to find the place to add PayNow number. just key in your malaysian phone number
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Ok thanks, do you know if Maybank debit card got any annual fee charges?
SUSTOS
post Sep 10 2024, 03:44 PM

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QUOTE(adam1190 @ Sep 10 2024, 03:33 PM)
Ok thanks, do you know if Maybank debit card got any annual fee charges?
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No annual fee charge. (Used to have iSavvy account at Maybank SG.)
adam1190
post Sep 10 2024, 05:17 PM

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QUOTE(Medufsaid @ Jul 16 2024, 10:39 PM)
looks like MBB sg can have more competitive rates when remitting back to Malaysia sometimes (don't worry, CIMB sg will refund the difference if u show proof https://www.cimb.com.sg/en/personal/promoti...sfer-promo.html )

https://www.reddit.com/r/singaporefi/commen..._rate_is_a_lie/
» Click to show Spoiler - click again to hide... «

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Does anyone know what’s the diferrence in Sgd to myr exchange rate between maybank sg and cimb sg in general ?Thanks a lot 🙏

This post has been edited by adam1190: Sep 10 2024, 05:41 PM
Medufsaid
post Sep 10 2024, 06:47 PM

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adam1190 what sg bank accounts you've opened so far
adam1190
post Sep 10 2024, 07:01 PM

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QUOTE(Medufsaid @ Sep 10 2024, 06:47 PM)
adam1190 what sg bank accounts you've opened so far
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Planning to open Maybank sg as I am currently Maybank Malaysia holder and I am not able to open cimb Malaysia account as I am offshore..

So wanted to see the difference in exchange rate between Maybank and cimb when converting money from SGD to MYR..

This post has been edited by adam1190: Sep 10 2024, 07:02 PM
Gabriel03
post Sep 10 2024, 08:32 PM

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QUOTE(adam1190 @ Sep 10 2024, 07:01 PM)
Planning to open Maybank sg as I am currently Maybank Malaysia holder and I am not able to open cimb Malaysia account as I am offshore..

So wanted to see the difference in exchange rate between Maybank and cimb when converting money from SGD to MYR..
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i have a MBB SG.

Wise or Instarem exchange + fee has always been better every time i want to perform the exchange compared to MBB SG
Medufsaid
post Sep 10 2024, 09:31 PM

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QUOTE(adam1190 @ Sep 10 2024, 07:01 PM)
So wanted to see the difference in exchange rate
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can always check CIMB SGD-to-MYR rates here https://www.cimbclicks.com.sg/sgd-to-myr (please check during office hours only, more expensive during night time)

user posted image

once you created MBB sg account https://www.maybank2u.com.sg/en/personal/cr...casa/index.page you can straightaway create CIMB sg acct, & activate by depositing S$1k from MBB sg. Opening CIMB MY acct + linking with CIMB sg can be done once you returned to malaysia

This post has been edited by Medufsaid: Jul 18 2025, 04:31 PM
adam1190
post Sep 10 2024, 10:06 PM

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QUOTE(Gabriel03 @ Sep 10 2024, 08:32 PM)
i have a MBB SG.

Wise or Instarem exchange + fee has always been better every time i want to perform the exchange compared to MBB SG
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Instarem can convert sgd to myr?
Ramjade
post Sep 10 2024, 10:14 PM

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QUOTE(adam1190 @ Sep 10 2024, 10:06 PM)
Instarem can convert sgd to myr?
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Yes and no. You need Instagram Singapore. Not worth to use Instagram. Expensive.
SUSTOS
post Sep 10 2024, 10:28 PM

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QUOTE(Ramjade @ Sep 10 2024, 10:14 PM)
Yes and no. You need Instagram Singapore. Not worth to use Instagram. Expensive.
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lol you mean Instarem... not Instagram laugh.gif
Ramjade
post Sep 10 2024, 10:37 PM

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QUOTE(TOS @ Sep 10 2024, 10:28 PM)
lol you mean Instarem... not Instagram  laugh.gif
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Phone typo.
Mr Gray
post Sep 11 2024, 08:53 AM

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Anybody recently transfer from Maybank MY to Maybank SG via duitnow? Received the following error.

user posted image

This post has been edited by Mr Gray: Sep 11 2024, 08:53 AM
annoymous1234
post Sep 12 2024, 12:05 PM

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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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Hey sorry need to ask, can mbb sg transfer to ibkr? Is it cheaper than cimb sg?

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