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This post has been edited by Medufsaid: May 13 2021, 12:37 PM

there's pro and cons... quite a few banks have fall-below fee so you have to be careful when picking a bank (e.g., if your average monthly balance is below S$500 there's a $2 monthly service charge)

https://dollarsandsense.sg/4-banking-accoun...singapore-know/

in my case, want to close my acct there also think twice bcos if want to reopen again, the fall-below threshold will be $1000



This post has been edited by Medufsaid: Mar 3 2022, 06:34 PM

sg is a "fine" city. do something slightly out of the ordinary and you might be fined

This post has been edited by Medufsaid: Mar 3 2022, 08:15 PM

is it fast (or decently fast) to transfer money from DBS back to a malaysian account? money in & out purely for investment purpose.

or better to just go CIMB sg all the way

oh... this is the wrong approach, better to use wise (transferwise)

can CIMB sg be trusted? my fren's m'sian acct kena mysterious PayPal charges to her debit card. i don't mind closing my DBS acct & moving over to CIMG sg if it wasn't for that

This post has been edited by Medufsaid: Aug 27 2022, 10:57 AM

Maybank SG account might require minimum account balance. I closed my traditional DBS acct (minimum S$500 balance) and opened a CIMB sg one bcos of that (DBS eMySavings requires S$0 balance but i decide to use CIMB to link to CIMB MY)

yup. u can search Ziet's youtube videos where he discussed CIMB sg vs MBB sg.

one major downside is MBB sg requires you to have minimum S$500 in your account else you kena charged monthly fee, so to me that's a deal breaker

anyone compared bigpay vs Sunway Money MYRSGD rates?

after going down the rabbit hole, i can only recommend that you do your own research as the rates of each remittance service updates at different times, so e.g., competitor no. 2 will be cheaper than no. 1 at your preferred time

signup for (this is my preference order)

1) wise
2) money match
3) bigpay

and this below is less competitive but u might still wanna signup

4) sunway money
5) instarem

and finally, if u happen to go Midvalley money changers, and afterwards be in singapore to deposit paper money at banks, the theoretical (doable but very impractical) best is

0) midvalley money changers

This post has been edited by Medufsaid: Jul 19 2023, 09:03 AM

problem is i've just signed up for them all and your findings don't tally with mine. so let's agree to disagree. and i can provide screenshots of the quotes i get from bigpay or money match, which can easily beat sunway money

This post has been edited by Medufsaid: Jul 19 2023, 10:47 AM

i manage to add my SG bank account as recipient in moneymatch. can select "self", and my name in CIMB sg & moneymatch is the same


haven't proceed any further though. but if later @ checkout can't remit out, wow will be a buggy flow

This post has been edited by Medufsaid: Jul 19 2023, 11:07 AM

aah they called me today, asked them and they assured that i can remit to myself. so i'll attempt moneymatch remit and see how it goes

This post has been edited by Medufsaid: Jul 20 2023, 04:43 PM

of cos Midvalley bcos their commission is RM based, while if u change in SG, they have to cari makan in SGD

u check mymoneymaster midvalley website, buy/sell difference is 1.5 sen
u check arcade website, buy/sell diff is 2.6 sen

remitted last night 10-11pm, just got email @ 4pm saying successfully arrived in SG acct. verified.

last night, mymoneymaster rates were 3.432/3.42, and i got mine converted at roughly 3.44

what's the minimum balance? i presume is S$20k (but 1st year no charge)?

This post has been edited by Medufsaid: Jul 25 2023, 02:54 PM

Mr Gray how many months before i can close the account without any premature penalty fee?

(haven't fully read TnC for any catch yet) seems like no fall below fee for the 1st year (deposit, then withdraw), but this means u need to set a calendar to close it 6 months in the future, all to get that S$15 reward

if your main objective is to have a bank account for more than 6 months this is not for you

It's the referral fee

TOS do it on weekday morning. can get around lunch in ur sg bank acct. then FAST to IBKR

also, remember to subtract RM5 when u compare moneymatch (RM10000 becomes RM9995)
and subtract RM1 when u compare sunway money (RM10000 becomes RM9999)

these 2 will add-on those amt separately as service fee