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 Opening a Bank Account in Singapore

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GalaxyV
post Feb 20 2022, 10:18 AM

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QUOTE(Ramjade @ Feb 20 2022, 10:13 AM)
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.
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I wanted to reply as what you replied. notworthy.gif
GalaxyV
post Jun 18 2025, 11:02 AM

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why many like to open bank account in Singapore?
GalaxyV
post Jun 18 2025, 11:14 AM

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QUOTE(Medufsaid @ Jun 18 2025, 11:08 AM)
mainly bcos quite a lot of us here are IBKR users. cheaper to deposit, easier to withdraw

other various reason (some don't want to hold MYR)
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I see. IBKR international account can be deposited by SGD? I thought only USD.
GalaxyV
post Jun 20 2025, 01:57 PM

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QUOTE(Ramjade @ Jun 20 2025, 01:53 PM)
Cheaper to deposit rather than deposit USD straight into IBKR.

Also give you a bank account to hold SGD. Wise can only hold RM29k which is peanut.

Having a SG bank account really makes your money without border unlike restrictions on Malaysia

Also lastly the SGD will appreciate with time especially against the RM.
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Depositing to IBKR and withdraw IBKR from our Singapore bank account will lead to the closure the bank account like in mileysia?
GalaxyV
post Jun 20 2025, 02:23 PM

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QUOTE(Ramjade @ Jun 20 2025, 02:07 PM)
Nope. Been there down that and less questions or paper work to fill up with Singapore bank when you deposit SGD or withdraw SGD to your account.

There won't be closure in Malaysia as long as you can prove your money. Where it is coming from.
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user posted image

But the IBKR account I have is with international account. So it applies too?
GalaxyV
post Jun 20 2025, 02:33 PM

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QUOTE(Ramjade @ Jun 20 2025, 02:25 PM)
IBKR let you fund your account in SGD. You can withdraw also in SGD. There is no such option for ringgit.

IBKR SG is for Singaporeans only. Everyone get IBKR US unless you are in UK, Europe, Australia, Canada
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My previous deposit was in USD. Can I then withdraw my USD to SGD to my Singapore bank account?

got it

user posted image

This post has been edited by GalaxyV: Jun 20 2025, 02:40 PM
GalaxyV
post Jul 2 2025, 11:04 AM

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QUOTE(privatequity @ Jul 1 2025, 01:28 AM)
Weird, last time OCBC SG said please confirm with us that you are living in Singapore by 15 December 2024 else will subsequently close them.

Now i receive email ask me to deposit and make balance more than 0 to keep it active. how ah?
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they allow to keep acc with 0 balance?

then you mah deposit SGD10 lah
GalaxyV
post Oct 28 2025, 03:18 PM

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anyone keeps or saves money in SGD wiht SG banks?
GalaxyV
post Oct 28 2025, 03:25 PM

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QUOTE(Medufsaid @ Oct 28 2025, 03:20 PM)
GalaxyV as a malaysian without PR, you can open Moomoo SG (invest in Cash Plus) or Stashaway SG (stashaway simple/simple plus/simple guaranteed)

need a functioning SG bank acct to deposit/withdraw obviously
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I have MooMoo MY. Does it automatically qualify for SG?
GalaxyV
post Nov 19 2025, 12:33 PM

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My friend transferred SGD to my SG bank using non-fast but he selected the wrong bank.

Until now, his account was not credited back. Need to call bank to ask for refund?

 

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