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Opening a Bank Account in Singapore
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Ramjade
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 Jan 21 2025, 12:26 AM
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QUOTE(ccschua @ Jan 20 2025, 11:23 PM) fullerton sgd cash for the past few days has not been impressive. it is around 3.1%. is this about right ? You cannot do anything. That's the downside of putting money into MMF. Singapore follow US fed interest rate. If US interest drop, Fullerton will also drop. You want to lock in the yield buy bonds or US tbills. It's cheaper than Singapore bonds. QUOTE(MilesAndMore @ Jan 20 2025, 11:55 PM) Purpose of the post was to correct the wrong info given in your original post - 300k instead of 250k. And it was still 200k only just a few months ago Thanks. Anyway I don't aim for priority so I never follow the AUM required. This post has been edited by Ramjade: Jan 21 2025, 12:27 AM |
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Medufsaid
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Jan 21 2025, 12:36 AM
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QUOTE(tifosi @ Jan 20 2025, 06:36 PM) Did you calculate Simple SGD vs Simple Plus? I am curious which one has better return. refer here https://www.stashaway.sg/save - simple guaranteed - FD
- simple - what i'm in now
- simple plus, the one you are aiming for
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tifosi
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Jan 21 2025, 12:55 AM
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QUOTE(Medufsaid @ Jan 21 2025, 12:36 AM) refer here https://www.stashaway.sg/save
- simple guaranteed - FD
- simple - what i'm in now
- simple plus, the one you are aiming for
I know the products but since the rates varies (SA only gives the projected rates, unlike Moomoo Fullerton I know exactly how much the %), wanna find out what's the actual rates for both SA Simple and Simple Plus. |
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gedebe
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Jan 22 2025, 02:51 AM
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guys, i found out that using cimbclicks MY, i can't transfer from cimb SG to MY, it can only allow from MY to SG. And when i tried to link my cimb MY in cimbclicks SG, it asks for to key in into the security device which is not relevant anymore since we are using digital token  This post has been edited by gedebe: Jan 22 2025, 05:11 AM |
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Medufsaid
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Jan 22 2025, 06:30 AM
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gedebe download CIMB sg app, then follow https://www.cimb.com.sg/en/personal/digital...ital-token.html "Set up Digital Token in few simple steps" to make your phone the digital token device
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kart
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Jan 22 2025, 08:32 AM
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I am still using CIMB SG hardware token.
As such, it is incorrect to say that all CIMB SG customers are using digital token.
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iSean
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Feb 3 2025, 07:33 PM
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QUOTE(Ramjade @ Jan 20 2025, 07:11 AM) I would not go with Cimb or any other sg bank foreign currency account. Reason is the min fall below amount which means extra fees for the bank should the amount drop below the required threshold and the money needs to be lock up and cannot be put to use. 2nd would be the exchange rate. I have always hated Singapore banks to lockup min amount. If really want a foreign currency account, rhb multi currency in Malaysia would be a better choice. If course if you are willing to travel to Singapore together a DBS account, by all means go for it as there is no minimum amount with DBS. I keep only SGD0.10 inside my DBS account. - You Simply Can't open a DBS Account now without a confirmation letter from a Singapore Company right now. - I tried few times in 2023/24， walked in . - DBS Account depending what types still typical $500 min. else, $2 fall below fees? |
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Ramjade
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Feb 4 2025, 02:34 AM
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QUOTE(iSean @ Feb 3 2025, 07:33 PM) - You Simply Can't open a DBS Account now without a confirmation letter from a Singapore Company right now. - I tried few times in 2023/24， walked in . - DBS Account depending what types still typical $500 min. else, $2 fall below fees? You need to get it done at their HQ. Not just any DBS branch. Also the account is usually lockup of $3000 with fall below fees if $5/Month. Whether still can be done currently I don't know. I did mine at peak of 1MDB as a student. |
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!@#$%^
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Feb 4 2025, 02:48 AM
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QUOTE(Ramjade @ Feb 4 2025, 02:34 AM) Whether still can be done currently I don't know. I did mine at peak of 1MDB as a student. that's a very long time ago |
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gedebe
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Feb 14 2025, 02:46 AM
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is there any charges of transferring fund from Cimb SG to Dbs bank?
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Ramjade
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Feb 14 2025, 08:21 AM
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QUOTE(gedebe @ Feb 14 2025, 02:46 AM) is there any charges of transferring fund from Cimb SG to Dbs bank? If you do it via FAST transfer, it's free. It's essentially our Duitnow. You cannot move USD for free via online. |
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watermineral
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Feb 21 2025, 03:47 PM
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Getting Started
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hi sifu here, I applied for a CIMB Singapore account three weeks ago and submitted all the documents they requested. They told me to wait for a phone call from an officer for verification. However, it’s been two weeks since then, and I still haven’t heard anything from them. Does anyone have experience with this?
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Medufsaid
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Feb 21 2025, 03:49 PM
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watermineral very normal. if u don't have a bank account & can't wait, just open MBB sg ar-rihla first (link is few pages back)
good for most stuffs except Moomoo SG
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watermineral
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Feb 21 2025, 03:58 PM
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Getting Started
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QUOTE(Medufsaid @ Feb 21 2025, 03:49 PM) watermineral very normal. if u don't have a bank account & can't wait, just open MBB sg ar-rihla first (link is few pages back) good for most stuffs except Moomoo SG thanks for the input. If its pretty normal then I don't have to worry, Not rushing just wondering if there is an issue with my info in SG. |
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watermineral
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Feb 25 2025, 11:36 AM
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Getting Started
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hi is there any cooling period for cimb sg account? i got the message mentioning my account is activated last night but until now i am not able to do any transaction from the account until now
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Medufsaid
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Feb 25 2025, 11:38 AM
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watermineral setup digital token already? after setting up, u'll have 12 hours cooling period. after that good to go QUOTE(Medufsaid @ Jan 22 2025, 06:30 AM) download CIMB sg app, then follow https://www.cimb.com.sg/en/personal/digital...ital-token.html "Set up Digital Token in few simple steps" to make your phone the digital token device
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watermineral
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Feb 25 2025, 02:28 PM
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Getting Started
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QUOTE(Medufsaid @ Feb 25 2025, 11:38 AM) watermineral setup digital token already? after setting up, u'll have 12 hours cooling period. after that good to go its in my cimb app for a month since when i apply the account. i send them an email and still waiting respond from them.,.. |
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joice11
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Mar 4 2025, 05:53 PM
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My friend is going to work in singapore next month, may i know what singapore bank acc he should open if he want to tranfer money (SG ) to malaysia (RM) in term of best convertion rate?
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Medufsaid
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Mar 4 2025, 06:03 PM
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joice11 best is CIMB sg. since he's going there to work, he can choose to open CIMB sg acct after he opens his main sg bank acct
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joice11
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Mar 4 2025, 06:19 PM
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QUOTE(Medufsaid @ Mar 4 2025, 06:03 PM) joice11 best is CIMB sg. since he's going there to work, he can choose to open CIMB sg acct after he opens his main sg bank acct thanks for quick reply, from CIMB sg acc he can tranfer money to malaysia any bank acc with the same rate or is it better rate if he has CIMB malaysia acc? |
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