How long you got everything done?

Are you able to open USD account through online besides SGD?

No opening of USD via online. If you want to open USD, have to visit the bank. All SGD banks have fal below fees if your USD drop below certain amount.

If you want multicurrency, UOB, OCBC, DBS all offer multicurrency account.

The question is whether they want to open for you or not.

The only bank which won't charge you fall below fees for Multi currency account is Cimbif you are their Preferred customer

This post has been edited by Ramjade: Mar 3 2017, 12:40 AM

CIMB Malaysia or Singapore?

I have the recommendation from UOB Malaysia to open USD account with UOB Singapore but I lazy to go over.

If there is shortcut way to get it without the need to go over, it would be great.

Cimb SG la. Want fast? Use HSBC or Citibank lo or Standard Chartered. Open priority banking with any one of them, ask them open Multi Currency (valid for citibank and HSBC, Standard Chartered doesn't have Multi currency account).

Must be priority with SG side also.

haha.. not enough qualification to be priority banking.

Gentlemen,... if you have managed to open an SG account, please use it to invest, or for whatever else,... it defeats the purpose of opening one just because everybody wants to open one, and the acct is left there idle.

Like what Showtime747 mentioned. But all banks will require customers to maintain a certain amount of money in the bank at all times and will monitor account activity. So those who managed to open their accounts, do take note of the above rules.

some acc requires you to have average daily balance of sgd1k. close one eye, and you are on the way building your regular income portfolio.

suffer abit then you may harvest the fruits soon. trust me.

With the exception of HSBC. The minimum AUM for HSBC Malaysia Premier Account is RM200,000. But I won't be surprised if HSBC Malaysia increases the AUM to RM300,000 or even RM400,000 later this year or next year.

And besides the foreign banks in Singapore mentioned above, it is also easy to open a DBS International Treasures Account or UOB Bank Privilege Account. For DBS International Treasures Account, the AUM to qualify for DBS Singapore is SGD350,000 but the AUM for DBS Hong Kong is only HKD1 million, which is a lot less than DBS Singapore. So if you have some money to spare, another way to easily open a DBS Singapore Treasures Account is to first open a DBS Hong Kong Treasures Account. Then ask your DBS Hong Kong Treasures RM to help you to open a DBS Singapore account. Just like HSBC Premier, you only need to maintain your status in one country.

This post has been edited by MilesAndMore: Mar 4 2017, 01:34 AM

I made another call to Maybank KE Customer Service yesterday.

It is better to select 'Cash and Prefunded' option. With that, Maybank KE will open two trading accounts, namely KE Trade Account and KE Trade Prefunded Account, even though we will use only the KE Trade Prefunded Account.

The advantage of this method is that those with CDP account need not have their all account opening forms and supporting documents to be certified by Commissioners for Oaths. Maybank KE will seek the certification and verification of our signature, with CDP instead.

For sure, if you have plenty of $$$ and do not mind engaging the service of Commissioners for Oaths to certify all account opening forms and supporting documents, choose the 'Prefunded'.

This post has been edited by kart: Mar 4 2017, 11:20 AM

hey, when i TT from alliance bank to maybank sg, TT amount S$ 560, somehow maybank sg only received SGD 540, then minus SGD 10 at maybank sg side, left sgd 530

May I know the extra sgd 20 is charged by alliance bank or maybank sg or any other charges that i dont know?

Maybank side. You want free transfer, transfer to Cimb. Then go straight to Maybank. That way you only pay once at Malaysia side. But not sure if there's a third party between Alliance and Mayabank

Eg
Alliance -> Maybank - no third party so charge theoretically should be SGD10 unless the bank charge SGD20
Alliance -> 3rd party -> Maybank so this charge can be SGD20-30 as there is 3rd party involved

Some people said when you transfer money overseas, it is converted to USD first before being converted to SGD.

I haven't try to TT money yet. But this is what I know.

because when I tt from alliance bank, i convert to sgd with their rate then deduct the equivalent MYR

then maybank sg side deduct sgd 10 as per their inward remittance fee

so i dont know where could the sgd 20 go in this case? (what 3rd party could it be)?

as for cimb, i do not have cimb fast saver activated yet, thats why i tt the remaining sgd 500 to maybank first then only activate the account via fast to cimb

one time TT only, moving forward will transfer between cimb my and sg

From what UOB told me, there's agent fees involve (the 3rd party). They told me the receiving end will be charged SGD10-20.

Money changer could be cheaper but don't know if it's safe to use them vs banks.

This post has been edited by Ramjade: Mar 8 2017, 02:23 PM

you mean if you TT via money changer, they will also have this kind of charges?

first time TT, initially plan to transfer just enough amount for 2 years fall below fee, manau tahu after these funny funny charges, left one year to deduct only

You mean using CIMB Malaysia to Maybank SG?

this one by right no charge

no one tested apparently

going to transfer via this one my cimb fast saver have all the things came to me

Er, for Maybank min fall below fees to activate is SGD500 woh. Takkan you got less than SGD500 meh? Your initial Maybank Bank Draft should have min SGD500 + this TT of SGD530 = SGD1030. More than enough to not trigger the fees.

I TT before USD to my uni. Always kena short charge like USD5-10 so I always transfer extra.

If you transfer using money changer, you get money changer rates But some people say not safe

No. Any bank to Cimb SG. Cimb SG does not have any incoming charge. AIYH
Cimb MY got charge. RM10.60

This post has been edited by Ramjade: Mar 8 2017, 02:45 PM

AIYHSee this for transfering money between Maybank SG and Maybank MY

Will I incur any agent fees?

No, there will be no additional fee charged by the agent bank in Brunei and Malaysia.

So I am guessing because you use Alliance, so you kena agent fees.

This post has been edited by Ramjade: Mar 8 2017, 02:49 PM