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 Opening a Bank Account in Singapore

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Fantasia
post Jul 17 2025, 10:43 PM

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Guys, I understand that CIMB SG no longer accept initial deposit from remittance service (Wise, Sunway Money, MoneyMatch etc). How about deposit from another Singapore bank account which is not under my name (friends or family)?
Fantasia
post Jul 18 2025, 09:54 PM

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QUOTE(polarzbearz @ Jul 17 2025, 10:53 PM)
As far as I'm aware it must be own-name account for first e-KYC from CIMB Malaysia, as the whole purpose was to do a remote eKYC entrusting that the verification already took place on Malaysia side.
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I guess I will need to open 2 accounts then sad.gif

QUOTE(Medufsaid @ Jul 18 2025, 12:04 AM)
go here https://www.maybank2u.com.sg/en/personal/cr...casa/index.page open MBB sg bank acct. then transfer S$1k from MBB sg to CIMB sg. pick ar-rihla (cheapest min balance to maintain, S$200)
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I just submitted my application. Is remittance service allow for initial deposit?

QUOTE(Ramjade @ Jul 18 2025, 01:47 AM)
Use Cimb Malaysia to send the first SGD1k.
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I am a cheapskate, want to reduce the cost as much as possible blush_ani.gif
Fantasia
post Jul 19 2025, 10:43 PM

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QUOTE(Medufsaid @ Jul 19 2025, 12:48 AM)
link your MBB sg Paynow ID to your malaysian phone number, then follow these steps to DuitNow overseas transfer S$200 from MBB malaysia
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I think the initial deposit has changed to S$500 for Malaysian/foreigner.

user posted image

I guess I cannot run away from using forex from bank for S$500
Fantasia
post Jul 21 2025, 06:34 PM

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QUOTE(Medufsaid @ Jan 9 2024, 08:50 PM)
| user posted image | user posted image | user posted image |
user posted image user posted image
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I have a question. I have read a little bit about DuitNow oversea transfer and it said it will follow the bank foreign exchange rate. May I know why there is a difference here between duitnow and other methods even though it is the same bank?
Fantasia
post Jul 21 2025, 11:28 PM

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QUOTE(Medufsaid @ Jul 21 2025, 07:17 PM)
I suggest you learn how to err... google?user posted image

user posted image
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Ah... I must'd been blind just now doh.gif

QUOTE(kucingfight @ Jul 21 2025, 10:58 PM)
Sorry, need to get it down right away, main purpose is to deposit into IBKR.
I'm already using Maybank, so would be directly easier for me to open Maybank SG right? Or cimb sg account still has some advantage? (Besides the min sgd200 balance for Maybank sgd)

Once open Maybank sgd, use sunway money to transfer myr, and then use IBKR deposit sgd function?
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The advantage of CIMB SG is its superior SGD-MYR exchange rate when you decided to bring those money back home
Fantasia
post Jul 23 2025, 09:20 PM

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Out of curiosity, I tried to transfer SGD from my Wise account to my Maybank SG account as initial deposit. Surprisedly, it went through biggrin.gif
Fantasia
post Aug 4 2025, 05:32 PM

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QUOTE(john123x @ Aug 4 2025, 03:08 PM)
Maybank SG app offline?
It shows error FEUI02 error, then show "service is not available" error

its frustrating to unable to access account.
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Mine is also the same.
Fantasia
post Aug 6 2025, 08:59 AM

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QUOTE(john123x @ Aug 6 2025, 01:28 AM)
I managed to find our why.

Maybank SG app is implementing country IP block

I use VPN Singapore and managed to login!!!!
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I managed to login in with the apps yesterday evening though. Now cannot login at all
Fantasia
post Aug 16 2025, 07:53 AM

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QUOTE(SwarmTroll @ Aug 16 2025, 02:32 AM)
The fees/cost to transfer from MBB MY to MBB SG also quite high cause their exchange rate is pretty bad. Initial deposit is 500 SGD which I think they require transfer direct from MBB MY.

Perhaps I'll bring some amount in cash and the rest will be in WISE, which I can use the debit card there, and then transfer to my UOB Account once its ready.
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I used Wise to to transfer money to MBB SG as initial deposit.
Fantasia
post Aug 21 2025, 12:04 AM

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QUOTE(kucingfight @ Aug 20 2025, 10:57 AM)
for first deposit, any issues of transferring to MBB SG using SunwayMoney? will it be queiried?
*EDIT = can, done it..almost instant transfer
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Oh, that is good to know. Seems like Maybank is much more flexible when compared to CIMB Bank.
Fantasia
post Oct 26 2025, 11:01 PM

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Ramjade, may I know how did you open DBS account? I tried to apply online through their phone app just now and I could not proceed because I do not have the FIN that they required as I am not employed in Singapore.
Fantasia
post Oct 26 2025, 11:56 PM

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QUOTE(Ramjade @ Oct 26 2025, 11:35 PM)
In person. Go there. Sg banks cannot open online except for Maybank or Cimb.
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Thank you so much. Your reply gave me the keyword to find this reply that you made last time.
QUOTE(Ramjade @ Dec 17 2024, 08:22 PM)
Willingness to come to SG.
Willingness to wait 4-6H
Willingness to beg
Willingness to open DBS Vickers account
SGD3k
Utilities bill
Malaysian bank statement
Pay slip
Income tax filling

Above should be more than enough. But no guarantees.
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Does the utility bill need to be my name cause mine is not my name? The address is same as my IC though

This post has been edited by Fantasia: Oct 26 2025, 11:57 PM
Fantasia
post Oct 27 2025, 12:04 AM

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QUOTE(Medufsaid @ Oct 27 2025, 12:00 AM)
Fantasia just do what u can but no guarantees. anything can change anytime. e.g., OCBC SG allows foreigners like mainland chinese, malaysians to open bank acct with S$1k deposit but since the rule tightening, you need to provide a copy of the letter offer of employment (no need FIN) plus S$3k deposit. Ramjade's experience may not be valid
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I see. Thank you very much for your info. I should at least give it a go when I travel to Singapore next time and at the same time, manage my expectation.
Fantasia
post Oct 27 2025, 06:24 PM

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QUOTE(tropik @ Oct 27 2025, 06:01 PM)
I personally went to DBS HQ last year to ask about it.
Went up to Level 3 or is it Level 4 in MBFC to enquire.

I was told since the Covid days, the Vickers team will only entertain you by appointment. They have also moved up to Level 14(?).

So I didn't get the chance to beg 🤣 or maybe I didnt try hard enough.

You perhaps can find out about this appointment thing and prepare ahead. Let us know if you manage to make it, all the best.
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Vickers is their broker business, right? I just want a normal saving account first.
Fantasia
post Oct 28 2025, 09:08 AM

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QUOTE(tropik @ Oct 27 2025, 07:03 PM)
Then it's unlikely you will be able to open one.
At the counter they will tell you to do it online.
But you don't have FIN or SingPass...

Unless you are going for premier banking.
All in 6 figures (DBS, UOB, Stanchart).
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QUOTE(Ramjade @ Oct 27 2025, 09:31 PM)
You need the Vickers to open their normal savings account. No trading account, no savings account.
No need. I opened mine as a student. No money. No active income.
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I see. That is a crucial detail I missed out. Thanks for the insight.
QUOTE(Medufsaid @ Oct 27 2025, 07:07 PM)
RM300k to open HSBC MY premier acct, and you can get HSBC sg
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That is a lot of cash where I need to dig from other places... I will rather not do that. Thanks for the info anyway.

 

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