any other potential overseas account that can be opened virtually?

On a second note, just applied for SG CIMB this week and when attempting to do Foreign Transfer with 1SGD, seems like CIMB Clicks MY is blocking it

I had to do a minimum MYR250 transfer so I went ahead with SGD100 (MYR 310.20). Or maybe I'm doing it wrongly

what's the latest interest rate for maybank isavvy vs cimb fastsavers?

Since you have not experienced it personally and was just commenting based on what you read in some blogger's forum,.. I thought I'd ignore what you said,.. but well,... I changed my mind.

I suspect that blogger has some background with the IRS that we don't. That's why IB need not withhold the 30% against him,... For other account-holders, our interest will still be withheld. It's not so easy, bro,.... I think if Biden wins, it will be worse when it comes to taxation matters.

I need not use the EPF as my preferred bond proxy.

I don't want to earn the Malaysian Ringgit. I am earning many major currencies of the world thru my investments,.. why fallback to the MYR for my investment income ? And I am confident my investment outcome can beat the EPF's without even considering the currency exchange.

Anyway,.. I have uses for other currencies too,... my children are considering furthering their career to Euro and The US. I may help neph too.

You bought Brookfield listed in the Nasdaq personally and your payout was not taxed ? Or are you mentioning someone else's action/experience again ?

Ah, how do you open DBS Vickers account or SCB account? You are based in Singapore? (Maybe JB?)

What is the 1% WHT for ? Didn't you ask ?

SCB has no platform fees. IB has platform fees if you do not have assets worth USD100K inside IB, unless you go with their front-end proxies which you called white-(somethings). 
Nobody asked you to exchange inside SCB, you can always exchange outside SCB and TT into SCB for a good amt...
If needed to call in and still able to do your corporate action, it's better than NOT being able to do your corporate action at all for IB,.. there has been problems at IB. You can't subscribe to IPOs at IB, right ??

DBSV's platform fees can be waived if you have sufficient transactions, and the platform fee is only SGD 2, come on,....
No worries abt the dividend fees if your amt is substantial enough.
Again, nobody asked you to change your currency inside DBSV,... you don't know enough abt changing in other ways inside the DBS Group. IB's spot rate is still not the closest to the interbank rate. DBS Group's is !!

At the end of the day,... I will still stick to a bank established inside SG. That's my preference,... I wouldn't mind paying a bit more for this peace of mind.

After reading into the link Hansel shared, I become interested with baby bonds. But I don't see any way to buy baby bonds via IBKR. All the results shown under the bond scanner only has large denomination size of 2k USD to 350/500k USD.

The blogger does not seem to provide any hints on buying baby bonds. Anyone here knows how to do that? (Anything to share from you, Hansel?)

EDIT: I found one, it's actually called exchange traded debt and is traded like stocks with par value 25 USD per share and you can buy from a minimum of 1 share. Commission is 1.5 USD from IBKR's TWS platform.

https://stockmarketmba.com/analyze.php?s=PRS

For this example, the ticker symbol is PRS.

Your needs are different from mine,.. and our needs and circumstances are different from others. You can't say SCB and DBSV are bad and ONLY IB is good. Everybody's personal circumstances is different. And what's the problem with calling SCB's Online Trading Unit ? Their call centre is in Cyberjaya,... they're quite efficient too. And very polite and customer-oriented in their speech,....it's a pleasure to speak with them.

Don't bad-mouth SCB and DBSV,... you have accounts inside too.

You have not been able to get your hands on the recent Snowflake IPO. IF you have,... you wouldn't want to say never to buy stiff at IPO stage.

Literally 2 posts before this I posted a lengthy chronological description

Newest CIMB SG Fastsaver rate: 0.3% p.a.

Effective from November onwards.

https://www.cimb.com.sg/en/personal/help-su...ount-rates.html

I believe it was 0.5% earlier.

Maybank still stays at 0.1875% though. The spread is getting smaller. 

Warm reminder. Stashaway Simple in SG is different from the one in Malaysia.

The one in Malaysia, also called Stashaway Simple is invested in Eastspring Islamic Income, a MMMF (I use it as well, but I deal directly with Eastspring via FSM). This is a true money market mutual fund.

The one in Singapore is invested in 2 OCBC mutual fund. And if you look into the fact sheets and other documents of the 2 funds, a majority are invested in bonds, not truly cash funds (despite one of the names "Money Market Fund", which is misleading).

https://www.stashaway.sg/faq/900000744806-h...ate-calculated/

So, technically the risk your bear is similar to that of bond's risk. That's unfortunately the only way to earn a mere "1.4% p.a." return.

Anyway, Ramjade, can the Singapore version of Stashaway Simple function like a bank account?

Say I can transfer directly from Stashaway Simple Singapore to my IBKR SG account? Is that possible?

This is an investment, so there is a level of risk, but it’s incredibly low. The StashAway Risk Index for StashAway Simple™ is 1.7%. That means you have a 99% chance of not losing more than 1.7% of your AUM in a given year.

Just wonder if it's normal for CIMB SG to take a while to revert the bank account opening application?

I already funded S$ 1,000 via transferwise and requested linkage from CIMB MY since Sunday (2 days ago)

Thanks for the link! but stated there i either need to be a SG PR or have work permit? how did you go about it?

Oops then mine is a mistake already, any idea if i can get the customer service to make the changes for me? Or when i get the verification call, i can tell them?

As long they don't cancel the whole application 

May I know if cimb fastsaver can be used to open Singapore exchange CDP account? Thanks

Good to know! Guess they've encountered this enough

I still don't understand why banks (not just Singapore, Hong Kong as well) don't just add some explanation on "TIN".

A simply one liner that says "TIN is typically your income tax file/registration number blah blah"  would have helped to eliminate confusions.

No, the Europeans also use. And they get their TIN a few days after they are born and will keep all their life. The baby not even need to be a citizen to be welcomed in the big family of taxpayers

I-I mean... I actually looked up to understand what's TIN when I was filling in forms
And I found
https://ringgitplus.com/en/blog/personal-fi...nuary-2021.html
https://www.freemalaysiatoday.com/category/...w-does-it-work/

...And... I totally misunderstood that as "oh so we're getting a TIN at 2021" (not knowing that LHDN income tax number is our TIN lol) 

Maybe our government needs to standardise the terms used too?

But true also, if they're spending so much human resource to explain to every silly Malaysian what TIN is, 1 additional FAQ at the bank website would've saved them so much time and money lol.
The moment I know the account number, I made my transfer via TW and it arrived (before I was given CIMB SG Clicks access lol). I think you can send it anytime before 30 days elapse.
Welcome to the dark side

Digital banks coming to SG in 2022. 4 winners announced today.

https://blog.seedly.sg/singapore-digital-bank-licenses/

And Ramjade, there is no evidence that the interest rate for digital banks will be similar to Big 3 in Singapore.

In fact the seedly article suggests higher deposit rate for digital banks.

(I remember you told me you once saw MAS require interest rate for digital banks to be no higher than the Big 3? Forgive me if I read it wrongly, but the message was something like that, I think.)

A similar article in ST: https://www.straitstimes.com/business/banki...ou-need-to-know

no, I already have a Maybank SG account.

Foreign currency account meaning I'm able to deposit say USD and keep it as USD without converting into SGD.

if you mean the AML (Anti-Money Laundering) forms, then I'd say it's the same anywhere 

I've tried calling Maybank SG and was told it could be done in branch only ... but trying to see if there's a way I can do it online OR if another SG based bank has this service ?

This is advanced stuff for me. Let me ping Ramjade polarzbearz. You can also ask others here. 

But one thing is certain, opening USD account in Singapore by a foreigner certainly involve tonnes of due diligence by the bank.

Suddenly something new come out.

Never heard of DBS My account. Can Malaysian open for investment purposes? Better than CIMB SG and Maybank SG?

I see from the requirement for foreigners only for work, study and some visas/permits. And it seems like there is $10 charges for inward remittance like Maybank SG.

https://www.dbs.com.sg/personal/deposits/sa...unts/my-account

Never tried so cannot really comment I'm exploring something else also as I'm still finding ways to hold USD/EUR or GBP but haven't found a cheap/fast/easy ways yet