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 Opening a Bank Account in Singapore

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Ramjade
post Apr 13 2021, 08:07 PM

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QUOTE(taiping... @ Apr 13 2021, 07:34 PM)
I tot first time must use bank 😳

🤦🏽‍♀️
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Yes. Transfer SGD1.00 only tongue.gif Then the rest use fintech.
Ramjade
post Apr 24 2021, 12:07 AM

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QUOTE(neshineo @ Apr 24 2021, 12:04 AM)
Hi,

I stuck at the very beginning process, open the CIMB Malaysia account, seems like it is a lot of trouble open the saving account now.
Any idea how to do it?
As i brought my employer letter, the bank said my company didt have the account in CIMB so the letter is no use.
And i can't use investment purpose. So any idea?
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Are you Malaysian or foreigner?
Ramjade
post Apr 26 2021, 06:11 PM

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QUOTE(neshineo @ Apr 26 2021, 06:08 PM)
Malaysian. Like very troublesome to open any account in Malaysia now.
Need a lot of verification
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Nope. Just to go bank and ask for free basic savings account from CIMB. Reason just out savings. Staff will denied such account exist. Show them CIMB own page.
Ramjade
post Apr 27 2021, 04:27 PM

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QUOTE(torres09 @ Apr 27 2021, 01:24 PM)
Hi guys, newbie here..
If successfully open CIMB SG account, any limit on funds that you can transfer to that account?
Will BNM check if say, every month transfer few thousand RM out to CIMB SG?
Thanks and sorry if it's a noob question.
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If you have no debts you transfer unlimited amount.
If you have debts max is RM1M/year.
As per bank negara.

Of course if you transfer more than what your salary is get ready for sg banks to questions you. And give them proof where money is coming from.
Ramjade
post Apr 27 2021, 04:48 PM

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QUOTE(torres09 @ Apr 27 2021, 04:34 PM)
Yo bro thanks for the reply.
And if I shift money back into CIMB Malaysia, will it trigger anything?
So I just prove that I sent the money to CIMB SG in the first place, and now I am transferring it back?
Thanks.

Edit: just to be clear, with the current economic climate in Malaysia, I feel it is safer to park a part of my savings in SG for stability as well as planning for my children's education. But if I need the money due to emergency, I will need to transfer it back to Malaysia.
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No issue. But keep bank statement and say record of selling of your shares in case they asked.

Keep in mind from now on, every year during efilling of LHDN, you need to tick the box I have overseas bank acocunt. Better safe than sorry cause Malaysian govt already know you have overseas bank account (cooperation with sg govt) Failing to tick that box means you are trying to hide your overseas bank account.
Ramjade
post Apr 27 2021, 05:19 PM

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QUOTE(HonG8821 @ Apr 27 2021, 04:52 PM)
Hi. I just created an account for CIMB SG and initiated account linking from my CIMB MY account. Normally how long will it take for them to verify and approve this? Also normally what is the phone no. that they will use to call me for verification purpose?
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2 weeks like that
Phone number for OTP.
Ramjade
post Apr 28 2021, 07:50 AM

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QUOTE(neshineo @ Apr 27 2021, 07:40 PM)
Im opening basic saving account, but they r asking a lot of questions, like purpose of opening and ask me to provide a valid document to support it(wth?). Which like they are giving you trouble to open, complaint to CIMB and the customer service replied decision for opening account is all up to the branches(wth?!).
Guess i have to find an easier branch?
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Just tell them you are just using as your first bank account. You don't have any bank account yet. For saving purpose.
Ramjade
post Apr 30 2021, 11:08 AM

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QUOTE(jack2 @ Apr 30 2021, 10:52 AM)
I managed to open another international bank in SG without presenting there.. hhuu
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Easy if you are HNWI. Not so for majority of us here. Can it be done by non HNWI/non accredited people?

This post has been edited by Ramjade: Apr 30 2021, 11:19 AM
Ramjade
post Apr 30 2021, 06:53 PM

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QUOTE(neshineo @ Apr 30 2021, 06:10 PM)
ok, update here.
I finally opened my saving account(hooray), in another branch
Due to too many peoples come and open saving account and sell to the market for fraud case, so they are very strict about this now
I have ask them about the basic account thing, they said BNM is only promised all bank "will" offer basic saving account, not "shall".
So they still hold the final decision that whether to let you open or not

Just show all the valid documents(EPF, Income Tax, etc) to support you are not selling your account then you are safe.
Goodluck guys!
should cont open my sg account now
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Did you get your free basic savings account? Or CIMB open some other account for you?
Ramjade
post Apr 30 2021, 07:38 PM

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QUOTE(!@#$%^ @ Apr 30 2021, 07:12 PM)
actually, u all know can open account online right? then go to branch for verification
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I already have my free basic account. No I didn't know can open account online. I think it's new stuff.
Ramjade
post Apr 30 2021, 08:02 PM

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QUOTE(neshineo @ Apr 30 2021, 07:59 PM)
I was requesting basic saving account in the website, but i saw they open AirAsia saver for me.
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Never mind. For now keep it. 6 months later open the free basic account online and close the airasia account.

Most important is able to open sg bank account. Pay RM15 is a small price to pay.

This post has been edited by Ramjade: Apr 30 2021, 08:03 PM
Ramjade
post Apr 30 2021, 08:29 PM

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QUOTE(torres09 @ Apr 30 2021, 08:18 PM)
Update:
Managed to open my Ecosave (or whatever) savings account online, went to branch for verification and deposit.
Opened SG FastSaver account, verified with OTP and transferred $1000 via Wise.
Submitted account linking in CIMBclicks MY now waiting for approval.
Here's hoping everything goes well.
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Make sure to open free basic savings account online and close your current account 7 months later so you don't get charged by CIMB.

This post has been edited by Ramjade: Apr 30 2021, 08:30 PM
Ramjade
post May 3 2021, 07:53 PM

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QUOTE(neshineo @ May 3 2021, 07:27 PM)
lolz, now only i realize we got charged for the annual fees 15MYR every year for every "special" saving account.
I was wondering what is the different and why do u ask us to close the account.  sweat.gif
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Your choice. If you feel like it's worth paying the bank for no reason, by all means pay them.

For me, banks serve us and not we serve the banks and I do not like to give banks free money especially they don't give me anything in return so why bother paying bank fees?

That's why all my bank account are fees free. I don't pay a single thing to banks.
Ramjade
post May 4 2021, 03:35 AM

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QUOTE(AnasM @ May 3 2021, 09:30 PM)
When opening CIMB SG FAST acc it say initial depo is SG1k.
Can I dep SG3k?
Will they accept?
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Why do you want to deposit sgd3k when the verification requires only SGD1.00?

Unless you like to pay banks free money then by all means deposit with them SGD3k (I assumed it's from Malaysia)
Ramjade
post May 15 2021, 09:24 AM

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QUOTE(Mr.Weezy @ May 15 2021, 09:13 AM)


Very helpful video on YouTube that shows opening CIMB SG account, hope everyone that is researching in this topic is able to see this  thumbup.gif
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This is old news. Youtuber just copy steps from lowyat and make it into a video. If you rajin read through, the steps already highlighted inside here.
Ramjade
post May 15 2021, 04:13 PM

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QUOTE(AnasM @ May 15 2021, 04:01 PM)
other than cimb and mbb sg, which bank at sg accept malaysian and can open via online?
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None. Dbs if you are willing to travel there.
HSBC if you are rich.
Ramjade
post May 23 2021, 09:59 AM

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QUOTE(taiping... @ May 23 2021, 09:54 AM)
I hav just opened CIMB Singapore

Will i be able to obtain an ATM card from singapore and withdraw money from Singapore if i want to

Sorry if it has been asked bfore
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No card. You want card you pay extra SGD10. Besides CIMB ATM sucks cause only located at their branch and I think only 2 branch in the whole island. They don't have branch thoughout whole island. Not worth it. biggrin.gif

Use bigpay to pay as they accept bigpay thoughout the island. If you are worried about hawker not accepting cards just go Midvalley Money changer before going and change your cash there.

This post has been edited by Ramjade: May 23 2021, 10:01 AM
Ramjade
post May 23 2021, 10:02 AM

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QUOTE(taiping... @ May 23 2021, 10:00 AM)
Thanks for the prompt reply bro

Seems it is possible then!
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You want to pay SGS10 and travel about 1h to their branch just to withdraw money or deposit money? Not worth it man.

Even if they give me their card for free I also don't want.

This post has been edited by Ramjade: May 23 2021, 10:03 AM
Ramjade
post May 23 2021, 10:45 AM

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QUOTE(taiping... @ May 23 2021, 10:06 AM)
Just making sure tat the money is in singapore haha. Friend asking
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If he/she scared ask him/her to link his Malaysia CIMB with sg CIMB. Login to Malaysia cimb and view CIMB sg account from Malaysia CIMB.
Ramjade
post May 24 2021, 03:14 PM

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QUOTE(Hansel @ May 24 2021, 02:46 PM)
You are right ! I was abt to say this,... that bro is backdated,.... biggrin.gif

And having a CIMB Debit card will allow one to spend at merchants,.. not only for funds withdrawal at an ATM,.... if one does not have any other SG Debit Cards,.... why not ?
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I don't visit branch so why should I keep up about how many branch they have? Besides I don't use Cimb debit card. I only use Bigpay in Singapore.

Bro there's bigpay. You don't even need to convert. It will charge you close to moneychanger rate. Acceptable anywhere they accept cards. Coming soon Revolut and MyMy.

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