Actually where in SG to search for the best money changer rates?

Thanks!

Anyone recently opened account at OCBC, CIMB or Maybank in Singapore? Were you able to sign the documents at your local bank and then only go there when account already prepared and approved?

This post has been edited by David_Yang: Jan 14 2020, 06:58 PM

I think Maybank and CIMB are both very good options. Are you "preferred" with one or both?

No idea about the transfer limit, I like cash

Your CIMB preferred RM will prepare the account opening a couple of weeks before you go to Singapore. Then you can use the account immediately.

Why no good idea? Can bring 30000 SGD or 90000 MYR and still use green line at Changi. Certainly if you talk about millions as "big amount" then it is not a good idea

And changing your MYR to SGD at Midvalley is and will always be much better than anything that involves banks, even if you are super mega preferred

Well, that is again about what you think is a "large amount". I never do more than the mentioned SGD 30000, actually even less than 20000, and always keep the moneychangers receipt. Then you are fine.

As we know, a "large amount" in Malaysia is more than RM 10000, which in other countries is considered tiny

Sounds very strange as OCBC and CIMB have absolutely nothing to do with each other.

It is good to keep CRS in mind, but for me this is no problem. Think about how many Malaysians do have accounts at Singapore banks, thousends. And I am such a small fish, no use to monitor me at all


Actually I even get phonecalls from my local bank here in Malaysia from time to time about the source of funds I am banking in or out.


"I want to have more savings ins SGD so I changed other currencies to SGD" would be my answer.


Sure, everyone should do the method he is most comfortable for him. I am doing forex with my favourite money changer a very long time already. And I will continue the good old Malaysia "Cash is king" way

@frostfrench With RM 1million I guess you can talk with your CIMB preferred manager about the exchange rate quite successfully. If they can compete with instarem, that I don´t know.

You also can burn this amount of money with education easily in Malaysia. Quite a lot of mainland Chinese do!

Hah, you can easily already burn 500k only with PRIMARY and only with tuition fee. These "International Schools" are just big business, there owners are super rich for a good reason. And the million long time gone before going to University. In Malaysia!

Don´t forget the wonderful CIMB WHY WAIT eFD ends this Friday:
https://www.cimbbank.com.sg/en/personal/new...osit-promo.html

Yeah, go for CIMB.

Any limit how much you can transfer with Bigpay in one transaction?

Just ask your RM.

If you not really really really need money absolutely desperate now, leave it in Singapore! Better take loan in MYR if possible.

How to link? I never got any e-mail.

Google found it indeed:
https://www.cimbbank.com.my/en/personal/ban...via-clicks.html

Followed the steps, hope it will work.

Don´t waste your time with hotlines, go to the preferred center and talk to your RM.

Sure, but I highly doubt that a non-priority customer will be entertained. I mean OCBC not even help their priority clients if they are not super priority and willing to throw a lot of money in the garbage bin by accepting a terrible exchange rate.

At CIMB they need to post documents to Singapore (yes, POST, no electronic mail), make phonecalls to the Singapore branch and so on. If you not have a RM that is willing to do this, you surely have to go to Singapore. Or did you manage to make someone outside the priority center in Maybank do it for you?

By the way, because of the long snail mail process I decide to show up personally in Singapore also, anyway was in mood for a 2 day food trip without the family

I have a very deep love for two Laksa places in Singapore for more than 15 years.

Totally Off-Topic: I love all the Laksas from North to South, East Coast and Sarawak, but Katong Laksa is my alltime favourite. If you know a place in KL that matches our Singapore friends, feel free to PN me