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 Opening a Bank Account in Singapore

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Ramjade
post Jun 20 2025, 09:08 PM

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QUOTE(Medufsaid @ Jun 20 2025, 08:32 PM)
hard to say. he says he's on DBS private so need to compare that exchange spread against wise (or IBKR)
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That's why I keep saying his privilege doesn't apply to normal people.

There are ways banks earn money from private clients. They may waive incoming wire fees or give you good rates but definitely other ways to make the money back.

I refuse to give banks any additional money when and if I can reach priority banking status.

This post has been edited by Ramjade: Jun 20 2025, 09:14 PM
elea88
post Jun 20 2025, 09:25 PM

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QUOTE(Hansel @ Jun 20 2025, 03:37 PM)
I'm laughing at your statement above, in bold,.... biggrin.gif

Only you kena this,...
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REALLY .. DBS will charge for incoming foreign funds.
Ramjade
post Jun 20 2025, 10:01 PM

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QUOTE(elea88 @ Jun 20 2025, 09:25 PM)
REALLY .. DBS will charge for incoming foreign funds.
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Sis his level not same as our level. We are poor people level. If you are priority banking and above you can ask your RM to waive the incoming fees.

How I know? I observe normal everyday working Singaporean complain about DBS incoming fees in their telegram chat. Then yes some HNWI Singaporean said that they call their RM to waive the charge, DBS refund the money back to them.

This post has been edited by Ramjade: Jun 20 2025, 10:27 PM
Hansel
post Jun 23 2025, 10:06 PM

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QUOTE(Ramjade @ Jun 20 2025, 10:01 PM)
Sis his level not same as our level. We are poor people level. If you are priority banking and above you can ask your RM to waive the incoming fees.

How I know? I observe normal everyday working Singaporean complain about DBS incoming fees in their telegram chat. Then yes some HNWI Singaporean said that they call their RM to waive the charge, DBS refund the money back to them.
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Caught you there again, biggrin.gif ... if I get charged for incoming fees,... I just Whatsapp my RM if got time, and hopes he willhelp me. If he doesn't, I wouldn't know too. No time to follow-up.... let it be-lar,...

I'm now trying to find ways to drive myself into Albania and across the Balkan countries. That's more exciting work.

Thank you, bro,... enough of this nonsense, it's boring for everybody. biggrin.gif
Medufsaid
post Jun 24 2025, 09:12 AM

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user posted image

Duitnow Overseas Transfer hilang
kockroach2
post Jun 24 2025, 10:22 AM

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QUOTE(Medufsaid @ Jun 24 2025, 09:12 AM)
user posted image

Duitnow Overseas Transfer hilang
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The service fee is quite high
john123x
post Jun 24 2025, 12:46 PM

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QUOTE(Medufsaid @ Jun 24 2025, 09:12 AM)
user posted image

Duitnow Overseas Transfer hilang
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you are right. Its gone. Hopefully, its temporary due to fixing bugs.
annoymous1234
post Jun 25 2025, 03:49 PM

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I'm comparing the most cost saving way to transfer money from ringgit to CIMB SG to transfer to IBKR. I did a comparison of sunway money, wise, and CIMB MY, but not sure if I'm doing it the right way, based on what I see, sunway money is the cheapest, but I need advise if I'm doing it correctly.

this is CIMB MY straight to CIMB SG
Attached Image

This is sunway money
Attached Image

This is wise
Attached Image

This post has been edited by annoymous1234: Jun 25 2025, 03:50 PM
Ramjade
post Jun 26 2025, 09:36 AM

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QUOTE(annoymous1234 @ Jun 25 2025, 03:49 PM)
I'm comparing the most cost saving way to transfer money from ringgit to CIMB SG to transfer to IBKR. I did a comparison of sunway money, wise, and CIMB MY, but not sure if I'm doing it the right way, based on what I see, sunway money is the cheapest, but I need advise if I'm doing it correctly.

this is CIMB MY straight to CIMB SG
Attached Image

This is sunway money
Attached Image

This is wise
Attached Image
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Do not use cimb my to transfer money.
Use sunway money or moneymatch
privatequity
post Jul 1 2025, 01:28 AM

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Weird, last time OCBC SG said please confirm with us that you are living in Singapore by 15 December 2024 else will subsequently close them.

Now i receive email ask me to deposit and make balance more than 0 to keep it active. how ah?
tropik
post Jul 2 2025, 11:00 AM

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Will there be hassle with switching device for CIMB SG and Maybank SG?

Hope no need to go branch or ATM to enable usage of app in new device.
GalaxyV
post Jul 2 2025, 11:04 AM

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QUOTE(privatequity @ Jul 1 2025, 01:28 AM)
Weird, last time OCBC SG said please confirm with us that you are living in Singapore by 15 December 2024 else will subsequently close them.

Now i receive email ask me to deposit and make balance more than 0 to keep it active. how ah?
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they allow to keep acc with 0 balance?

then you mah deposit SGD10 lah
privatequity
post Jul 2 2025, 11:42 AM

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QUOTE(GalaxyV @ Jul 2 2025, 11:04 AM)
they allow to keep acc with 0 balance?

then you mah deposit SGD10 lah
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ya weird they said they will close down but they didnt. why ah? ocbc sg
Medufsaid
post Jul 2 2025, 12:05 PM

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privatequity you can always deposit back some cash but don't be upset if they suddenly contact you asking for proof of residency.

i won't deposit any more cash as i don't intend to keep OCBC sg after the 1st year (after that have to keep S$3k min balance) anyway. You can find out and report to us

This post has been edited by Medufsaid: Jul 2 2025, 12:13 PM
kart
post Jul 2 2025, 12:17 PM

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QUOTE(tropik @ Jul 2 2025, 11:00 AM)
Will there be hassle with switching device for CIMB SG and Maybank SG?

Hope no need to go branch or ATM to enable usage of app in new device.
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I believe that you are asking about changing smartphones, in order to use the mobile banking app for CIMB SG and Maybank SG.


I am not sure about that. However, I respect your choice to use mobile banking app.


Actually, we can still use physical hardware tokens, to approve banking transactions for both CIMB SG and Maybank SG.

Ramjade
post Jul 2 2025, 11:50 PM

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QUOTE(kart @ Jul 2 2025, 12:17 PM)
I believe that you are asking about changing smartphones, in order to use the mobile banking app for CIMB SG and Maybank SG.
I am not sure about that. However, I respect your choice to use mobile banking app.
Actually, we can still use physical hardware tokens, to approve banking transactions for both CIMB SG and Maybank SG.
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I think have been discontinued. Force to use app as token.
kart
post Jul 3 2025, 06:17 AM

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Ramjade


CIMB SG and Maybank SG will persuade the customers to use mobile banking apps.


However, we can inform CIMB SG and Maybank SG that we insist on using physical hardware tokens, upon our request.


Recently, upon my request, CIMB SG and Maybank SG sent replacement physical hardware tokens via mail to me, because the battery of my previous physical hardware tokens is running low.


Thus, I am still using physical hardware tokens, to approve banking transactions for both CIMB SG and Maybank SG.


Anyway, it is really up to you, as a banking customer, to choose either mobile banking apps, or physical hardware tokens. Either option is fine.

This post has been edited by kart: Jul 3 2025, 12:00 PM
Ramjade
post Jul 3 2025, 07:09 AM

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QUOTE(kart @ Jul 3 2025, 06:17 AM)
Ramjade
CIMB SG and Maybank SG will persuade the customers to use mobile banking apps.
However, we can inform CIMB SG and Maybank SG that we insist on using physical hardware tokens, upon our request.
Recently, upon my request, CIMB SG and Maybank SG sent replacement physical hardware tokens via mail to me, because the battery of my previous physical hardware tokens is running low.
Thus, I am still using physical hardware tokens, to approve banking transactions for both CIMB SG and Maybank SG.
Anyway, it is really to you, as a banking customer, to choose either mobile banking apps, or physical hardware tokens. Either option is fine.
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Damn kena conned already.

tropik
post Jul 3 2025, 08:42 AM

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So switching smartphone wont be a problem for user outside of SG right?
Medufsaid
post Jul 3 2025, 08:48 AM

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tropik i switched before for CIMB sg, no issues. don't have MBB sg. in fact in malaysia it's only MBB malaysia that requires a visit to ATM

This post has been edited by Medufsaid: Jul 3 2025, 08:48 AM

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