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 Opening a Bank Account in Singapore

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TOMEI-R
post Nov 17 2016, 11:33 AM

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QUOTE(Hansel @ Oct 25 2016, 04:44 PM)
See thread : SGX Counters.

You can still open savings accts at Standard Chartered Singapore and at Maybank Singapore with your normal documents. Do it quickly before these two banks close their doors too.
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Hi... can some Malaysian with no referral letter from any banks and an employment pass just walk in with a passport and ic and open a savings accounts with any Standard Chartered Singapore branch?
TOMEI-R
post Nov 17 2016, 10:23 PM

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QUOTE(prince_mk @ Nov 17 2016, 08:04 PM)
last year yes. this year seems to be difficult. I think by now they closing the door.
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Update us if u have any luck in opening one. Have u tried most banks in Sgp?
TOMEI-R
post Nov 18 2016, 08:16 AM

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QUOTE(Ramjade @ Nov 18 2016, 04:58 AM)
He already have SCB account in SG.
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Anybody else have any luck with other banks?
TOMEI-R
post Nov 18 2016, 02:28 PM

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Nobody can help out on account opening?
TOMEI-R
post Nov 18 2016, 03:11 PM

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QUOTE(Hansel @ Nov 18 2016, 02:59 PM)
Use the following. I thought somebody would reply,...

1) Call Standard Chartered, Sgp, tel no : 65-67477000, ask them what documents are needed. Tell them of the date that you will be going down. Tell them you intend to do at No : 1 Battery Road.

You do this so that they can't refuse you later ! Bro,... don't go to other branches ! Open at No 1, Battery Road.

2) Gather the docs, then go down !

3) At a minimum, open the eSavers, SGD and USD Settlement Accts.

Bring SGD 1200 with you, you need to put in SGD 1000 into that eSavers Acct.. After that, wait for your token and the ids and passwords to reach your house. Then you can start from there.
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Thanks for the heads up bro. thumbsup.gif Will try and see.

Update.. called the hotline and they require at minimum an Employment pass and supporting documents from a Singapore employer. sad.gif

This post has been edited by TOMEI-R: Nov 18 2016, 03:20 PM
TOMEI-R
post Nov 18 2016, 03:33 PM

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QUOTE(ShinG3e @ Nov 18 2016, 03:30 PM)
including this and need to show work permit /employment permit etc right?
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yo. if you are do not want to go singapore just to open an account, you may look into opening a Maybank SG account locally. without travel. just go to some selected few MBB branches to sign the form. It's called iSavvy account. minimum SGD500 to open. only con is that it takes 3-4 weeks for them to validate and approve the acc opening.
I opened an account with Maybank SG locally. DBS/POSB no idea.
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I dont mind going down to Singapore to open an account there. But Singaporeans bank are requesting for a work permit and related employer documents to let me open an account which I dont have as Im not working in Singapore. Any other ways or banks to go about that?
TOMEI-R
post Nov 18 2016, 04:50 PM

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QUOTE(ShinG3e @ Nov 18 2016, 03:37 PM)
oh then go with maybank then. no EP or WP needed to open. but u must have msia mbb account first before applying.
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U mentioned selected branches but I cant find anything online. Any specific branch would you recommend?
TOMEI-R
post Nov 18 2016, 05:01 PM

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QUOTE(ShinG3e @ Nov 18 2016, 04:56 PM)
here you go guys. 

http://info.maybank2u.com.sg/pdf/deposits-...cation-form.pdf

this is the application form if you want to print out. if not, just visit the branch (scroll all the way to the bottom to find your nearest branch) and get the form.

do take note on the difference between premier wealth and normal branches. worried that if you visit premier branch but you're not MBB customer then they might reject you.

you would also need to prepare a SGD bank draft. just inform the teller and he/she will provide 2 forms for you.

1 x application form
1 x bank draft form (yellow slip) minimum SGD500

hope the above helps.
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Thanks for the info bro. Very helpful info.
TOMEI-R
post Nov 18 2016, 09:26 PM

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QUOTE(Hansel @ Nov 18 2016, 07:19 PM)
Looks like Shin's way is better than mine in opening a Sgp bank account,... thumbsup.gif

Yes, use the above way,... then if you guys needed a trading account with the lowest brokerage charge in Sgp, use my way,... BUT,... quickly open the bank acct first using Shin's way above, BEFORE MAYBANK CLOSES THEIR DOORS !!
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QUOTE(elea88 @ Nov 18 2016, 07:25 PM)
http://www.maybank2u.com.my/en/personal/de...ings/savvy.page

First are you 18 years and above?
A Malaysian or Permanent Resident? Opening a Personal or Joint Account?
And please note the Minimum deposit of $5000. (In the form of a SGD Demand Draft)
Ok? Then next steps:

Visit your nearest Maybank branch, bring along your original Identity Card (IC), Police or Armed Forces ID Card, Birth Certificate and MyKid for Malaysians, and Passport for non-residents or foreigners, as your primary document.

You may also need to bring secondary supporting documents such as:
A valid passport (if IC is produced as a Primary document), a valid driving license, utility bills (e.g. water/electricity/telephone bills, Quit Rent, Assessment Notice) in the name and address of the customer opening the account, a Letter of employment or your Credit card.
And that's it! Scroll down to the bottom of the page for more details on how to apply now.

Tomei-R.. let me know if u are successful in opening without the LETTER OF EMPLOYMENT... from Malaysia without going to Sg.
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Im still weighing my options. If possible, I would prefer an account with a Singaporean bank with no link to the Malaysian side. Sorry, but I have my own reasons for this.

TOMEI-R
post Nov 20 2016, 03:45 PM

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Checked with most banks in Singapore and all their Customer Service Reps mentioned that you will need a valid working permit/ student visa at least to open an account there.
TOMEI-R
post Jan 7 2017, 07:07 PM

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QUOTE(familyfirst @ Jan 6 2017, 10:47 AM)
For Maybank SIN account, do we need to maintain transactions in & out every other month to keep the account "activated"?   If not, what is the penalty?
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You have to have a minimum $3000 balance in the account at all times.

QUOTE(Cherry16 @ Jan 6 2017, 09:22 PM)
Congrats for opening the DBS MCA account.  rclxms.gif

It is really a challenge recently even with proof of CDP account. However, it still can be done with much efforts.
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You have to prove to them on what grounds you are opening an account for. In other words, a good reason would be for Salary Bank in (Sg work permit) or bills to pay (address in Singapore) or investment purposes (like mentioned SGX-CDP account). If not, most banks will not allow account opening.

This post has been edited by TOMEI-R: Jan 7 2017, 07:10 PM
TOMEI-R
post Jan 8 2017, 12:03 AM

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QUOTE(Ramjade @ Jan 7 2017, 07:25 PM)
I went over there. Maybank no reply doh.gif I better not wait. Or else later cannot open.
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Apparently the Singapore Government are very strict laws on currency control and anti money laundering. It is very hard to open an account at Singapore now compared to many years ago. Yes if you did managed to open one, you are one very lucky man.
TOMEI-R
post Jan 8 2017, 12:07 AM

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QUOTE(Ichitech @ Jan 7 2017, 11:57 PM)
Hi all,
First time on this thread and read thru the last 10 pages of the forum as some of them were quite old (<2013) which i presume outdated.  Quick question, can i
1) Open a SG bank account (Prefer  bank with Malaysia account too, e.g. OCBC, MAYBANK, CIMB etc) ?
2) If (1) is yes, what is the requirement ?
- Can i apply online ? I do not wish to fly to Singapore just to open an account
- Prefer bank with free annual fee as i don't think i will use the facility (ATM, Debit card etc) only use Internet Banking
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Read through the previous pages and you will find your answer. There are two banks mentioned.
1) Maybank

2) HSBC Premier.
TOMEI-R
post Jan 8 2017, 03:51 PM

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QUOTE(Ramjade @ Jan 8 2017, 01:01 AM)

2. Usually banks in Singapore charge a fall below fees. Not annual fees like Malaysia. Requirement usually work permit/student visa from Singapore. That's the major road block. Requirement for HSBC and Standard Chartered = pockets must be loaded.
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I have to agree on that. There was once a Business Manager told me directly that they are not interested in opening an account for you if you are just planning to open an account with a few hundred dollar balance so that you can top up your Netts card and buy things online. doh.gif Sinkis are very 'direct' people.

QUOTE(Hansel @ Jan 8 2017, 03:46 AM)
THANKS TO THE 1MDB EVENT !!!!!

mad.gif  mad.gif  mad.gif  mad.gif  mad.gif  mad.gif  mad.gif  mad.gif
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Not really lar bro. The Singapore government started implementing anti money laundering laws quite some time ago. Not really because of 1MDB. Anyway, Singapore is favorite hotspot for the Indonesian Chinese business people. They were depositing so much money in Singapore that the Indonesian government had to plead them to bring their money back to Indonesia by giving them clemency on tax evasion and money laundering. laugh.gif
TOMEI-R
post Jan 8 2017, 03:53 PM

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QUOTE(Vector88 @ Jan 8 2017, 09:10 AM)
what I did back in 2015 was to fly down to SG during MALAYSIA public holiday, eg: Malaysia Day, Thaipusam, Quran etc..then u can save on taking days off from work..also, now with many budget air, u can go down to SG with the earliest flight, and come back on the same day...opening an account should not take more than half a day.

in 2015, i managed to open an OCBC bank acc linked with trading acc, giving them the reason I want to trade with OCBC securities...

good luck guys...
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Its very different now. First thing they ask you if you want to open an account now is

1) Work Permit / Employment Pass

2) Singapore Residence Address.
TOMEI-R
post Jan 8 2017, 04:54 PM

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QUOTE(Ramjade @ Jan 8 2017, 04:10 PM)
I experienced that. I asked about account inactivity and the person attending to me ask me back this question, "For what you want to open account and keep it inactive?' I was  shakehead.gif  doh.gif
Correction. They ask the following in order
1) Are you a Singaporean?
2) Are you working here?
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My version is after you told them you are a foreigner but not working here. laugh.gif

IMO most bank staffs in Singapore" die die follow SOP. Cannot corner corner like here." laugh.gif

This post has been edited by TOMEI-R: Jan 8 2017, 04:54 PM
TOMEI-R
post Jan 12 2017, 09:19 AM

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QUOTE(Ramjade @ Jan 12 2017, 07:13 AM)
I already open my account with DBS bank.
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Forget Tiger bank. We try not to have anything to do with Malaysia at the moment. laugh.gif

DBS didnt ask you for employment pass? tongue.gif
TOMEI-R
post Jan 12 2017, 10:46 AM

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QUOTE(Ramjade @ Jan 12 2017, 09:24 AM)
Nope. Because I told them I am a fresh graduate.  sweat.gif
Banks in other country are run separably compare to the ones in Malaysia. Anyway, managed to open a CIMB account online (after getting DBS) so that I can make my DBS account "active" by transferring funds from CIMB > DBS > CIMB with my limited funds.

Will try and see if can get Standard Chartered/Maybank in my next trip. If can, will close my CIMB laugh.gif

Reason: CIMB only 2 branches  doh.gif

But looking at exchange rate, CIMB TT rates are better than Maybank.
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Yes for CIMB, you only need to open an account online and transfer some funds over (FAST transfer) from another Singaporean bank to enable account opening.

When you told them you are a fresh graduate, dint they ask you for your student visa etc?

This post has been edited by TOMEI-R: Jan 12 2017, 10:47 AM
TOMEI-R
post Jan 12 2017, 11:16 AM

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QUOTE(Ramjade @ Jan 12 2017, 11:02 AM)
I gave them my national competency exam results. They actually never look at it at all.
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No wonder la.. tongue.gif Your earlier statement gave a lot of hopes to people hoping to open an account in Singapore. Just to clarify bro Ramjade is studying in Singapore and thus allowed to open an account there.

This post has been edited by TOMEI-R: Jan 12 2017, 11:26 AM
TOMEI-R
post Jan 13 2017, 11:37 AM

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QUOTE(Hansel @ Jan 13 2017, 07:31 AM)
DON'T UPDATE HERE TOO MUCH ! THE DOORS WILL BE CLOSED FASTER ! USE PM ! SOME GOVTS AND AUTHORITIES RE-ACT FAST, UNLIKE OURS !
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I agree on this. Many eyes are watching. Even more when it is reported in the papers recently people are transferring huge amounts of money overseas.

QUOTE(Hansel @ Jan 13 2017, 09:11 AM)
This is news to me,... opening banks accounts in Msia is also difficult ????  shocking.gif
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If you are a foreigner in Malaysia.

QUOTE(Mikeyz @ Jan 13 2017, 09:26 AM)
Sorry off topic but is true about this.my cousin wanted to open an account in Maybank but was rejected even though the husband has supporting employee document from SG company.
Very strict rules and requirements now. Just my share on experience
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Compared to their Malaysian counterparts, Singapore Banks all follow strict SOPs on all their transactions.

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