for maybank KE i was offered 2 brokerage accounts.

1. trading account with CDP (comes with margin)
2. pre-funded trading account with custodian-ship (100% own money)

anddddddd also you are able to transfer shares from custodian to CDP but there will be a % transaction fee. <--- trying to get the % fee and will update on that.

so yea during trading i can pick whether want to put under (1) or (2) then execute.

This post has been edited by ShinG3e: Jan 31 2017, 11:53 PM

then i guess should be okay , i also attached $500 demand draft to them

u have better chance, cuz i ***gues*** u submitted before they increase it?
i can only hope/pray so, otherwise very troublesome... like the Chinese saying, two heads also don't reach shore.

i can't imagine the hassle and time require to have them return me the cheque and convert it back to MYR, plus possible losses due to exchange rate. at the same time, i don't feel like going to open anymore if it requires $S5k initial deposit, the bank's exchange rate is blood sucking, i just stick with my other SG bank acc without debit card.

will post the status here once i get it.

This post has been edited by lamode: Feb 1 2017, 12:16 AM

Tq for the confirmation, forummers,...

Thank you very much for your generous advices as always, Hansel. We, newbies, have so much to learn from you.


As you rightly predicted, it is getting tougher to open a Maybank Singapore saving account, ranging from the need to furnish LHDN tax reference number, to the requirement of higher initial deposit of SGD 5000. Luckily, other posters and I heeded your wise advice, and quickly opened a Maybank Singapore saving account.


Well, I shall use it as an account to receive dividend from S-REIT. I just started learning the basic A to Z of S-REIT, before I will start to invest in it.


I also invested in Singapore Saving Bonds, and I agree with you that its dividend is too low, compared to S-REIT. But, I shall keep the bonds for diversification, and I will use additional money to invest in S-REIT.


What I have now:
1) POSB Saving Account
2) OCBC Singapore Saving Account
3) Maybank Singapore iSavvy Saving Account
4) Singapore Exchange CDP Account

One question: I have a Standard Chartered JustOne Personal Account (saving account cum current account) in Malaysia. With that, does it make it easier to open a Standard Chartered saving account, and trading account in Singapore?

Thanks again for your advice.

This post has been edited by kart: Feb 1 2017, 10:33 AM

Really? The website (http://info.maybank2u.com.sg/personal/depo...gs-account.aspx) did not mention about higher initial deposit of SGD 5000.

Even if we can withdraw SGD 4500 after account opening, we still need to prepare SGD 4500 of money, probably by exchanging RM to SGD at bank's poor exchange rate. Man, not all of us do have SGD 5000 ready in cash.

You can argue that Maybank Singapore officers have not briefed Maybank Malaysia officers in KL Main Branch, about the higher initial deposit of SGD 5000.

Thus, Maybank Singapore should allow you to open iSavvy saving account, as per the previous rule of the initial deposit of SGD 500, in this transitional period.

This post has been edited by kart: Feb 1 2017, 10:29 AM

ya, will see how it goes first...

S$ 5k is updated here under "how do I apply", http://www.maybank2u.com.my/en/personal/de...ings/savvy.page

weird... only MBB MY stated $5000 to open but MBB SG still stated $500 to open...

Bro,....

Yes, learn SREITs and instruments of the SGX. .. With knowledge, comes confidence,... and higher chances of investing success,...

Hmm,... I'm not sure if having a local SCB Acct helps in opening a SG SCB Acct + Trading Acct,... perhaps you can try,... tell them that you have the JustOne Personal Acct., and that you would like to use SCB in Sgp too,...

Forum bros,... another tip here :-

If yo have a DBS Savings Acct, use the DBS Remit facility from the websote to TT your funds back to yr Maybank Msia Savings Acct if you needed to use funds.

Try not to withdraw from the Maybank Msia ATM, because even though they said there is no charge, the exchange rate that Maybank Msia uses to convert your SGD into the MYR is higher than the exchange rate used by DBS when you TT funds back.

The DBS Remit facility has no fees and charges when you do TT back from Sgp to Msia. It's a great service, very fast,...

Please try to open a DBS Savings Account.

dun worry bro, cause before i went to the maybank i've do some research on it , i also saw the $5000 initial deposit, but i think should be fine
in another words, if i die, u die also haha, will update here if i received the parcel. estimated will received after 17/2/2017

SCB is as good as gone case. Went to 3 branch (woodlands, battery road, mbfc) refuse to open for me just because I am a Malaysian. They told me MAS have tighten the rules in opening account ESPECIALLY AGAINST MALAYSIANS starting last year. The future looks dark for us if we want to open account in other country seeing that MAS has started to act against us.

You cannot open online trading account without a SA. I told them I don't need your SA, I just want the online trading account. Told me no.

Told me I still can qualify for a eSaver account if I have either one
1) UT with them SGD50k at 3% SC (some branch do not accept this)
2) Mortgage
3) Endowment plan SGD500/month for 5 years. Can only withdraw at 10th years. Expected returns 3% pa
SGD400/month for 10 years. Expected retuns 3.8% pa

I wonder if I can email MAS and complain that SCB did not let me open online trading account without a must for their SA.

Can use cimb SG (which I think is better than Maybank). Another way to transfer the money globally at cheap rate: Transferwise. Only drawback cannot transfer MY > SG but no problem with SG > MY.

Is out of question. They refuse to open online trading account without the saving account. The sabing account is a must.


This post has been edited by Ramjade: Feb 1 2017, 09:38 PM

But whenever, we remit from SG to MY, who is the one converting from SG to MY? DBS or the local bank?

If is DBS, whats the rate?

If is local bank, even though DBS provide it free remit, the exchange rate still depends on the local bank.

For this (if you transfer amount is less than 10k), CIMB is better as it allows you own account to transfer between MY and sg without charges and have better exchange rate than maybank.

Btw, if we TT from malaysia to sg, they are using the sell TT rate to convert right?

How about if we withdraw money at SG from MY saving account? say if we withdraw money from Maybank SG atm from Maybank MY saving account? what rate does it use?

SCB Malaysia is not related to SCB Singapore. I have asked them before. So no, you cant open an account in SGP even if you have an account with SCB Malaysia.


Already mentioned that our government is becoming stricter on currency outflow controls. Apparently a lot of foreigners are using Singapore as a platform to park their money. Especially the Indonesians. Hey... dont forget even Jho Low parks him money over there.

But anyway, I think SCB charges are quite exhorbitant. Imagine, you have to pay $20 Sgd for your bankcard annual fee.

This post has been edited by TOMEI-R: Feb 2 2017, 11:43 AM

As we speak SGD is now at 3.135.

DBS current rate.. DBS having good rate for oversea TT. But if you wanna TT from local bank to sg (example maybank to dbs), better avoid this as maybank exchange rate super sux and not to mention the extra fee + 6% charges.

I can't seem to find the sgd myr forex rate in DBS SG same for maybank SG and CIMB sg, where does it locate?

You can only view it after logging into dbs

That means is only for dbs customer

How sad