if u have the means to "control" the spread, it is surely to yr advantage!

but i guess this is only for ultra premium customers in special banks.

as far as brokers like IB are concerned, they dun care how u get/buy the fx, they accept face value what u bank in, no other charge.

when u withdraw, same, in that currency. the rest will depend which bank u stipulate the money goes to.

i hv not done much transfers, multi currency with IB.

details like this, best to ask rjb123 in this thread:
https://forum.lowyat.net/topic/3396549

Actually according to his way, he fund his IB account using SGD. Then switch over the currency on IB platform to buy ETF from LSE.

quite pissed with this as well, jez found out yesterday bout that % charges. From the read of the page, it looks like just physical deposit/withdrawal at the bank right?
Does it apply for online transaction as well
http://www.dbs.com.sg/personal/deposits/fees.page

Any idea which Spore banks provide free service for $$ dep & withdrawn?

I gave them my national competency exam results. They actually never look at it at all.

No wonder la.. Your earlier statement gave a lot of hopes to people hoping to open an account in Singapore. Just to clarify bro Ramjade is studying in Singapore and thus allowed to open an account there.

I told them I am just graduated. So not working yet. So no tax no. SO they put my occupation as graduate. But the worker said not working means not working. No need to say graduate or what. 

1-2 years ago, one can freely walk into any SG banks and ask for a bank account. No questions asked. Well do update here if you managed to get one and how you managed to open. It will help people who wants to open.

Now I really regret closing mine few years back when I moved back to Malaysia 😂. Likewise in Malaysia , to open new account also need Employee salary slip and some verification for those unemployed  . Banyak macam macam !

5 years ago, Malaysia bank account does need all these crap.

Even a valid work pass doesn't work on them. Die die must company HR's letter

There is definitely a back channel for such things. Just not publicly available to normal citizens. 

Same for me as well. Thanks to ShinG3e's advice, I now have a Maybank Singapore iSavvy Saving Account. Recently, the debit card and security token were sent to my home, and I have activated the access to Maybank Singapore online banking website. 

you're welcome. good stuff need to share. 

It's perfectly legal by cimb sg. Go read their fees pdf file.
Amount to maintain: no min amount
Fall below fees: nil

It's stated in their document in black and white. Even with maybank, just transfer the SGD500 to and fro from their account and back within the same day to "make it active"

DBS/ocbc/scb have cheap account you know which requires just SGD0/1000 to maintain.

One just need to read their fees.

I based my calculations on this and the rate they displayed have been accurate (double check with bank's TT rate)
http://www.exchangerate.my/

My transport cost is <RM200 (but very close). For this discussion, make it RM200. If your transport cost is higher, then you need to count again and see if it's worth it to TT or go down. For me, because my transport cost is RM200, it's cheaper for me to down. This is based on the calculations that Maybank charges 3.16/3.17 exchange rate vs money changer at 3.12 (which is true if you go to Midvalley money changers)

With a rm200 transport cost I assume u r not from Johor. Don't u have to factor in food n lodging as well, even if u take your time cost as Zero.

1 month is the entire duration, starting from the date you send your application form, to the date you receive all of the items by post in your house.

In my opinion, the actual time needed to open a Maybank iSavvy saving account is around 3 working days, if Maybank Singapore receives the full set of your form and supporting documents by post.

Most of the waiting time is due to inefficiency of our postal system in Malaysia, resulting in the delay of sending the items to our home.

Between SingPost and Pos Malaysia, which one is more efficient? I strongly believe that SingPost would have quickly sent the items from Maybank Singapore, to Malaysia. Once the custody of the items has been transferred from SingPost to Pos Malaysia, you would know what happens next. 

It is a great deal and very convenient for us to open a Maybank saving account in Singapore, with the help of Maybank Malaysia. We do not need employment visa or student visa to apply, as long as we already have a Maybank Malaysia saving account.
Good things come to those with patience. For sure, if we are high net worth individuals with insane amount of money, we can get things done faster.

But, I am just an average Joe. So, I do not mind waiting that long, as long as the end result is what I desire.

You are entitled to your own opinion, and we respect that.

so, they bully you because you are not able to go to SG and you do not have work permit/student pass? If this is the case, better they reject your application at the first place, rather for you to wait and wait for so long.

Is this the way they treasure their customer? I certainly do not think so!

wow, didnt now got people so patient. for me 1 month is very very long. opening an account should be within 1 working day. sending documents now can be by courier, which is next working day or e-mail which is instant.

I didn't call Maybank Shah Alam. I emailed Maybank SG. Maybank SG check with Battery Road then check with Maybank Shah Alam. I am perfectly fine with emails (saving cost here)
That's not bad service. For reasons:
1) You don't need to go down to Singaore at all
2) You can bypass SG govt requirement of working pass to open account
Is SG govt rule la. Anybody asking to open account must produce working pass/student pass unless you are a priority customer. They also need to protect themselves what (their reputation as SEA financial hub) after you know what happen in SG involving xxdb.

With so much tightening, I am willing to wait 1 month for my account (even though I already have an account)
They don't use courier. They use normal post. For me the fastest was one of my account. Account approve. Within 1 week receive all the stuff needed. For maybank, I am sure, they need to investigate your background with Maybank MY. So one week for letter to arrive is perfectly fine for international airmail. Also, Singapore banks love their mail. Sort of security feature. Send you 1 letter containing username, 1 letter containing your password, 1 letter with your security device etc. It's their protocol. They won't send you those details via email.

If send everything in one letter, if one letter is compromise, all the login account details are compromised. Same thing with email. Email is the easiest to be compromise.
Just submit the TIN only. Is not like one have any thing to hide. Why use custodian account? Just use Maybank KE trading account.

Not everyone got RM10k to park in SG not earning money (DBS saving account)

AFAIK, only DBS V let you have direct CDP account. Even for pre funded. According to the one who service me, DBS V will always open CDP account for the applicants. All foreigners who apply will get prefunded account. Only SGreans can get other type of account. It's against SG govt laws to give foreigners access to margin/leverage trading. Not sure if one can asked for it or not.

Maybank KE prefunded Custodian. If is not prefunded, its CDP.

That's what I am trying to ask you lots of time, no reply. Thanks finally got an answer.