how to overcome this is by getting a job in Singapore and be assigned a F.i.n number (Foreign identification number), then you'll automatically be able to use SingPass, that's one of the ways for a foreigner to get SingPass

got it! But when you mentioned about opening a SG Maybank account, I start to get confused! Why I need SG Maybank and SG Cimb, why not just SG Maybank only? SG Cimb has the best forex rate?

gedebe yea CIMB has the best SGD->MYR forex rate, not MYR->SGD rate though. details below

• SGD->MYR
  
  CIMB has the cheapest rate. my theory is, CIMB wants to accumulate SGD, & they have loads of RM, which no institution in sg wants except us malaysian retailers. so rather than be a greedy bank for once, they'll sell RM at a competitive price (don't know why MBB sg is not following suit)
• MYR->SGD
  
  CIMB will charge you 1% to convert from ringgit to SGD

as recently as last year, CIMB is ok if we just remit SGD1 from CIMB MY to SG for e-KYC purpose. we can send the remainder S$999 via Wise. but i guess they want to earn some profit, so they changed this. as in this scenario, you need CIMB more than they need youif you can send S$1k from a singaporean bank into CIMB sg, it proves to CIMB sg that they are your 2nd/3rd/etc option

Thanks! What about sending money subsequently to SG Cimb, what other online transfer has the best rate?

gedebe

1. sunwaymoney (no referral promo for now)
2. moneymatch (you can enter referral code to get some discount on first transfer, but nowadays moneymatch not worth it to send SGD anymore even with discount)

you can send up to RM3k (will be converted to roughly S$900) daily using DuitNow Overseas Transfer, from MBB/CIMB malaysia to MBB sg. CIMB sg doesn't support it for now

This post has been edited by Medufsaid: Jul 6 2025, 07:56 AM

OCBC Digital currently offers lowest $1,000 minimum balance amount...
Apparently OCBC SG Recently restructured. Last time $20,000, otherwise if your account <$20k, $10 Fall Below Service Fees.

I opened a 360 Account, just for the sake of the Debit Card when I visited earlier this January. But I believe if you go to Singapore on a working weekday, the front desk don't mind to help you to get a Debit Card linked to the Statement Saving Account (STS/SSA), if you don't want to open a 360 Account.

Well, personally, I would say open another OCBC Savings Account without those "Fall Below Fees", because I feel parking $3k SGD doing nothing there, kinda defeats the purpose. Otherwise, park your money in Fullerton Money Market Fund or SG T-Bills.

This post has been edited by iSean: Nov 25 2024, 01:27 AM

Register OCBC Digital. =redacted for referral after reported=

Can read here about the things.

https://www.ocbc.com/group/media/release/20...foreigners.page

Just need Passport and $1,000 SGD in your Wise Account.

This post has been edited by iSean: Nov 25 2024, 01:26 AM

--edited--

OCBC SG no longer applicable to malaysians. removing this post

This post has been edited by Medufsaid: Apr 24 2025, 11:13 AM

opening a saving account also can earn refer fees?

what about Sg Cimb and Sg Maybank, do they have fall below fees?

only OCBC sg

cimb no. MBB depends on acct. From S$200 to S$500

Used to be, but like need to hit like dunno 1st/5th/10th customer to get like $10?
But now no more also just realized.

No promo edi.

But then OCBC SG Digital is still the easiest way to get a Singaporean Bank Account without requiring SingPass/Working Permit.

If you want the OCBC Debit Card shipped to your house, and don't mind the $3k minimum balance - 360 Account via Application through the App. Is much easier through the OCBC SG App. I applied through the web, I didn't got my Debit Card, and forced to go SG to get my Debit card

I believe the same applies for the Monthly Saving Account, you need to go to OCBC SG Singapore branch for Debit Card.

easiest to open is MBB sg. Since those who open it half-heartedly can get the debit card straightaway.

OCBC sg you need NFC phone and many many scanning of your passport to proceed

Seeing folks here on money in SG and not in MY ... is the bank interest rate good? CIMB Sg just like 1 to 2% right?

Please don't just put money in sg bank account and leave it... Use it to invest. Putting money into SG FD or bank account, better you out into EPF.

Ultrashort term SGD interest rates are around 3.2 - 3.3% p.a.

Short-term (6M - 1Y) interest rates are around 2.9-3.1% p.a.

FD rates will be some 20-50 basis points below the numbers above.

Hi Ramjade What good to invest there? Property condo too expensive ..like SGD1mil and above easily for foreigners... and if equity, can just use MooMoo Malaysia and buy shares there right? Would like to heard your thoughts on SG investments. Thanks in advance

Sg banks only. If you like reits lots of selection. I don't hold any more Singapore reits in my portfolio. If you are ok holding stuff which give like 5-6%p.a with minimum (max 1-2%p.a increase in dividend) to negative growth yearly

SG banks are basically my official banking tool. Me and many use them to invest overseas cheaply. Reason is we use interactive broker and they don't allow RM deposit or withdrawal. But they do accept SGD. So if you are investing long term, interactive broker is cheaper than moomoo Malaysia by miles (commision, exchange rate) and not to mention more market than just the US.

If the day comes that interactive broker accept direct funding, withdrawal and conversion of ringgit, I won't send my money to Singapore.

Hope that explains it.

the debit card for Sg Mbb can only be obtained in Sg branches right and without debit card I could not create my online profile

This post has been edited by gedebe: Nov 26 2024, 03:36 PM