Indeed Maybe it's due to constant update on the currency exchange..

Sorry I don't know what is DBS. Could someone point me a link so that I can catch up with what you guys are talking about ?

looking for renting SG bank account (POSB/DBS) 3 x account needed RM1000/month
Yes, like renting a room. You getting paid every month.

Shall i assume you are mature enough and yet the account will be doing transaction but strictly not for any illegal activities.

Opportunities for you, PM me. everything will be in P&C.

If you google. it will probably display as the first result, is a bank

Here you go
http://www.dbs.com.sg/personal/default.page

Think of it as our Maybank (the amount of branches & atms) but is a SG bank.

DBS allows malaysian to open account?

Well it's hard. You need to convince them why you need an account with them, And is not cheap. Need to maintain min SGD3k or they will start charging you SGD5/month.

There are people who kena rejected. All because MAS increase the difficulty to open account.

This post has been edited by Ramjade: Feb 2 2017, 03:26 PM

SGD 3k is still far better than those priority banking stuff offered by those banks.

So this DBS account is it any good compared to others ?

Going for OCBC360 savings account. Went to open the account last month, they want me to prove mailing/residential address.

3k is fine, any tips on how to convince?

Why you go for that ? Why is that better ?

you can try MAYBANK SINGAPORE. open from Maybank Malaysia.
min SGD 500.

That's definitely a possible option. But I am looking to see if there is a better one for my purpose. From what I gather, Maybank conversion from MYR to SGD is not very favourable.

just because the interest rate are better.

Okay.

Interest rate is less important for my purpose as I don't intend to keep so much money there. I only want to keep the bare minimum to maintain the account.

depends on how you view it.

Maybank Isavvy account, can open via maybank malaysia, fall below fee SGD 2/month if below SGD 500, you will lose 4.8% p.a. (SGD 24) if you decide to fulfill the criteria, forex rate loose to DBS (based on other currencies) since I can't see then live rate for SGDMYR

CIMB FastSaver Account, can apply online, once you got maybank sg, no problem for this one, no fall below fee, forex rate on par with Maybank SG (again based on other currencies) since I can't see then live rate for SGDMYR

DBS multiplier account, very hard to open now, fall below fee SGD 5/month if below SGD 3000, you will lose 2% p.a. (SGD 60) if you decide to fulfill the criteria, forex rate better than maybank/cimb

IMO, if you can spare SGD 3k and above to invest in SG (be it UT, SGX, bonds, reits etc to earn at least 2% p.a.) so that the fall below fee is not much of a concern, DBS, else maybank (need 5% p.a. to cover if you just use SGD 500 to invest)

This post has been edited by AIYH: Feb 2 2017, 04:32 PM

Thanks for this very comprehensive reply.

Now it's will be 100.1 % score if we can have actual rates figures, as "better rate" is still rather vague. LOL.

Because unlike malaysia, the SGDMYR Rate is only visible to their customer via online banking , as I am neither of them, so I am helpless on this

Hopefully everyone here, who have all these 3 banks account, or can work tgt, to publish the rate for these 3 banks

Also can help to introduce any other account with competitive fees and forex rate (interest rate is out of the question in this comparison )

This post has been edited by AIYH: Feb 2 2017, 05:22 PM

Its another way of saying no to you. Like mentioned, all Singapore banks require a Singapore work permit or a SGP mailing address. Their government and our government are very strict now on allowing non working foreigners on opening an account there.
The only way of going around it is to buy their savings/insurance plans and that will ensure you be able to open an account there. However, there would be a need to commit to their said savings/insurance plan.

That will be the no 1 rejection reason. Banks just are not interested in maintaining such accounts because there are no profits for them. No profits for them means no point opening an account for you. I've come upon bankers who will tell you straight in the face that they are not interested in customers opening such accounts. So make sure you dont tell them this.

Which is quite cheap and affordable but lousy return. Case point SCB.

Same here. Will leave nothing inside my SG account.

This post has been edited by Ramjade: Feb 2 2017, 06:53 PM