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 Opening a Bank Account in Singapore

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Ramjade
post Dec 21 2021, 03:26 PM

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QUOTE(Hansel @ Dec 21 2021, 02:36 PM)
Let me reply you just on your first para.

So when was that passport renewed (in 2016 or 2017 ?) and how much did you pay to renew that passport ?

And secondly,.. I continue to insist you would not have saved RM400 by doing all these things you have done. YOU did not know how to ask for special rates at,.... Maybank back then. With 30K to TT,... you would have qualified for special rates by calling a certain number at Maybank,... no need to use the counter rates published on the Maybank forex page.

And then again,... if you would have gone to the 'right' money-changer,... you would have been able to 'TT' at least once using the 'right' money-changer with money-changer rates before being clamped-down by,... This,... you did not know too,...

I am waiting for your reply.

Edited twice to correct spelling errors to ensure transmitting the correct message.
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That was necessary as I am from overseas bro. So no choice. Not sure how much paid. I think rm300.

No I did not know about special Maybank number. I just check the rates online for all the bank account I have. Tell me how many normal people know about special rates? Is it applicable for those without priority/private banking or it's only reserve for them? If only reserved, then no use to me as I am neither a priority or private banking customer. And my writing is for regular Joes.

I know money changer can TT but kind of risky for me based off hear say from here. This I know but I don't want to risk it.
Ramjade
post Dec 21 2021, 07:02 PM

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QUOTE(Hansel @ Dec 21 2021, 04:32 PM)
So,.. after deducting this RM300 against the RM400, you seved ONLY RM 100,... or,... let's see you also used the amt for other overseas travel,.. then you saved only RM150,.. if it worth it ?

Many know abt that special number,... it depends on ur TT amt, not on your customer status... I shld have told you abt this number.  smile.gif

NO risk, no gain.
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You can't count like that. Why? Cause I already have that passport way before hand. If you want to count that in with banks then total loss would be even RM700+ (RM300+RM400).

Nevemind. If I have known about special number, I would not have discover fintech. When you are desperate, you will find ways. Something I learned myself. No issue as already history.

This post has been edited by Ramjade: Dec 21 2021, 07:03 PM
Ramjade
post Dec 22 2021, 09:11 AM

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QUOTE(Hansel @ Dec 22 2021, 02:29 AM)
Your calculation is wrong again.

The RM400 was the amt you saved by taking train up and down and eating bread. The RM300 was to pay for your passport, and this is an expense you can't avoid if you need to do it this way.

So,.. it then boils down to RM400 (you saved) minus the fee for your passport, RM300 (you expended) = RM100 nett savings ONLY after taking trains up and down and eating bread for that whole day.... Now,... is this worth it ?
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If I don't count the passport it's worth it the train trip.

But as mentioned if I used banks to transfer the net loss is also RM700 (if you want to count passport). Cause either way the passport is already there. It's not like I purposely make a passport just to go down to sg. I didn't count in passport as it's a necessary expenses. Unavoidable.

Anyway if the same thing happen again without fintech, I think I will just take train. Once a year. Maximize my passport usage.

This post has been edited by Ramjade: Dec 22 2021, 09:14 AM
Ramjade
post Dec 22 2021, 07:11 PM

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QUOTE(Hansel @ Dec 22 2021, 02:28 PM)
I think it's getting boring for everybody trying to explain things to you. Now you are twisting the facts by saying : don't count the passport.  biggrin.gif

Anyway,... to your last sentence,... you can;t go to Singapore anymore,... VTL restricted from tomorrow till Jan 20th., and then quota will be halved after that. No chance for you to go anymore. Ur passport fees are wasted now.
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I don't count passport as it's a fixed constant.
If I don't travel to sg, I still pay passport fees.
If I travel to sg, I still passport fees.
Either way I still pay RM300. No running away.

The only thing different is bank rates of RM4O0.
If I travel to sg, I saved RM400/transfer.
If I don't travel to sg, I lose RM400/transfer.
Keep it simple. No need to think so hard.

Anyway I am not travelling anywhere. My passport have not be renew and I am not planning to renew unless sg govt needs me to renew my passport then only I will renew.
Ramjade
post Dec 27 2021, 06:59 PM

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QUOTE(labtec @ Dec 27 2021, 10:51 AM)
Hi, after successfully open CIMB SG, are we able to apply for CIMB SG credit card?
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No. Unless you want. Cimb cc us useless. Nothing beats Maybank 2 amex premier if you want to get airmiles.

Cimb debit card also useless as they only have one branch in sg. So if you want to withdraw money from their ATM, need to go to their only branch.

I have never asked for any card from cimb sg for over 7 years.

This post has been edited by Ramjade: Dec 27 2021, 07:00 PM
Ramjade
post Dec 31 2021, 01:43 PM

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QUOTE(jas029 @ Dec 31 2021, 11:03 AM)
just wondering after submitting the application for Fastsaver SG account, do u guys get the account number and email/sms right away (instantly) ?
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After filling up the fastsaver page, they will email you the bank account for you to deposit sgd1k or sgd1k for eKYC.

Cause how to proceed with eKYC if you don't have the account number to deposit your money?
Ramjade
post Dec 31 2021, 06:38 PM

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QUOTE(jas029 @ Dec 31 2021, 05:49 PM)
i mean after u click submit at the final step of application page, do we get the account number instantly?

because i only got a application reference number only
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Check your email, spam folder. Forgot already. If nothing, wait a few days to up to a week. If don't have anything by then, give CIMB SG a call.
https://ringgitfreedom.com/banking/opening-...for-malaysians/
Ramjade
post Jan 1 2022, 09:08 PM

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QUOTE(labtec @ Jan 1 2022, 12:30 PM)
just got my CIMB SG account approved as it show up in my CIMB MY account, and manage to transfer money to it.

will we get ATM card or online CIMB SG account? so far no email or sms from CIMB SG yet.
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You want you need to request and pay sgd10 for it. I don't even bother. I never apply since my account opened 7 years ago.
Not worth it as
1) their ATM machine is located at their branch only. And they have only one branch in Singapore.
2) I don't visit SG at all. Last was like 3 years ago. When I visit it, I use bigpay
3) I have no intention to withdraw my SGD or convert my USD back into SGD.

Ask yourself, do you really need their card seeing that the account can fully be used online. If you feel you need the card, then pay for it lo. For me, the card got no perks hence I don't even bother applying.
Ramjade
post Feb 3 2022, 01:03 AM

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QUOTE(labtec @ Feb 2 2022, 11:28 PM)
I try to figure out how to transfer money from Wise into my AmeritradeSG account but it looks like only accept saving or current account.

So I have to use wise to transfer into my CIMB SG account then wire transfer to my AmeritradeSG   account?

[attachmentid=11086221]
And I also think I cannot wire transfer USD from my CIMB SG Foreign Currency Savings Account in USD to AmeritradeSG account. So in the end have to wire transfer money from my CIMB SG FastSaver Account in SGD to AmeritradeSG account.

[attachmentid=11086222]
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TD doesn't let you transfer USD from wise. They mentioned only accept DBS bank.
You can try with ACH or Giro transfer. But most likely money will be returned to you. Give it a try and let us know the result.

Last time I used wised to transfer money to IBKR, I use ACH transfer.

This post has been edited by Ramjade: Feb 3 2022, 01:03 AM
Ramjade
post Feb 6 2022, 06:25 PM

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QUOTE(labtec @ Feb 4 2022, 10:22 AM)
dwRK and Ramjade working in banking is it? seems like expert  tongue.gif Even cheque have to be in SGD or USD from own account, cannot be bank draft.
ya lor, I read that also... Maybe I have to travel to SG to open a DBS account in US currency, which I can directly transfer money to AmeritradeSG account without going through currency conversion.
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There has been reports of people successfully use wise borderless account to fund TD. Not direct transfer using wise. Need the borderless account.

You can ask here.
https://t.me/joinchat/PmAf8xrBEOcrZchIOUTNtQ

I don't work in banks but hang out in those places. Hence I know.

This post has been edited by Ramjade: Feb 6 2022, 06:26 PM
Ramjade
post Feb 20 2022, 10:13 AM

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QUOTE(tankteam @ Feb 19 2022, 04:59 PM)
Is there any updated info regarding opening multi currency / USD account in Singapore for Malaysian not working or studying in Singapore?

Before Covid, several banks told me they need SGD300k for account opening. I think that is for priority banking, not the normal account.

Looks like they do not offer basic account for Malaysian who are not working or studying in Singapore since few years ago. Anyone has latest info?
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You didnt go your homework enough. Come I spoon-feed you
There's only one bank in sg which accept Malaysian without sg address or if you are not working/studying sg.

Cost to maintain account varies from SGD3000-SGD0.00

But you need to be physically there to open account. No online opening account.

That's bank is DBS. But you need to open their DBS Vickers account. After that see what account they opened for you.

If it's a DBS multiplier you need to maintain sgd3k for 6 months.
If it's a DBS My account it cost sgd0.00 to maintain account.

If you get a DBS multiplier account, you can switch to DBS My account after 6 months via online.

Hope that helps.
Ramjade
post Feb 20 2022, 03:20 PM

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QUOTE(esyap @ Feb 20 2022, 01:12 PM)
Bro. Can go to any DBS branch to open DBS Vickers? Planning to open one wen able to go Singapore so tat easier to fund TD acc.
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Cannot. Can only be applied at their hq. Marina bay financial center.
Ramjade
post Feb 20 2022, 06:31 PM

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QUOTE(tankteam @ Feb 20 2022, 06:08 PM)
@Ramjade @GalaxyV

Hi Ramjade,

https://forum.lowyat.net/index.php?showtopi...ost&p=103009039

You have told me from previous post above that this method was 5 years ago. That's why I am asking if anyone have updated news / methods.

Not sure if your method still valid today. Have anyone tried recently?
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Once the VTL is open, just make a trip there.
The worse is they prevent you from opening account.
The best is you get your account.

For me, last time was try my luck. I was prepared for the worst outcome and to my surprise they let me open especially when I am student without any employment.
Ramjade
post Feb 22 2022, 02:28 PM

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QUOTE(clovercliff @ Feb 22 2022, 10:51 AM)
i could open an account with only using my passports
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Does the requirement to open DBS Vickers still stand or now don't need to open DBS Vickers?
Ramjade
post Feb 23 2022, 09:36 AM

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QUOTE(clovercliff @ Feb 23 2022, 03:07 AM)
dont need
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That's good to hear. How much did they ask to open account?
Ramjade
post Feb 25 2022, 07:43 PM

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QUOTE(clovercliff @ Feb 25 2022, 02:06 PM)
not a student, open at jurong point branches. I just said open for future might use for investment SG stock
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Are you working in Singapore?
Ramjade
post Mar 3 2022, 07:42 PM

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QUOTE(ikanbilis @ Mar 3 2022, 07:32 PM)
If you have the DBS savings account, you can open another DBS My Account online which has no fall below fee. After that you can close DBS Savings account.

I closed my POSB savings after opening MyAccount. Some months i leave SGD 1 in My account and no fee ever being charged.
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I can vouched for that. I levae my DBS my account with only SGD0.10.
How much you leave yours?
Ramjade
post Mar 3 2022, 07:55 PM

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QUOTE(!@#$%^ @ Mar 3 2022, 07:52 PM)
does it matter?
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Who knows if he leave sgd0.00. i have not dare to leave it at sgd0.00 yet.

Yes it matters. If he keep it at sgd0.00 it means no issue.

This post has been edited by Ramjade: Mar 3 2022, 07:56 PM
Ramjade
post Mar 9 2022, 12:20 PM

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QUOTE(godzillapunks @ Mar 9 2022, 10:51 AM)
How about a Malaysian who is not working in SG? Tks
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No one tested it recently (like when VTL became available).
I will say go for it. Buy a ticket to sg and try luck. Read back previous pages about how to go about it.

Worse come to worse they reject you.
If you are lucky you get your account.
Ramjade
post Mar 13 2022, 11:38 PM

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QUOTE(!@#$%^ @ Mar 13 2022, 08:54 PM)
thanks.

on another note, is there any benefit at all to get a current account in singapore?
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Don't bother. Unless you are doing business.

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