CIMB MY Cross-border fund transfer can use liao?

Mine still cannot eh?

Not exactly a bank but Chocolate Finance is experiencing a bank run now.

https://forums.hardwarezone.com.sg/threads/...6939803/page-39

https://forums.hardwarezone.com.sg/threads/...6939803/page-39

https://sethisfy.com/im-withdrawing-everyth...ance-heres-why/

It used to promise 3.3% ++ p.a. daily returns (guaranteed...) in SGD





This post has been edited by TOS2: Mar 10 2025, 12:06 PM

---------------------

I dug dipper.

The run was triggered by their action to stop allowing payment of bills via their debit cards. AXS stopped that as people game the system to rake up CC miles.

So, when a few days ago the debit card was no longer allowed to be used, those sharks immediately withdraw huge amounts over the weekends... Some of them actually use other people's SingPass to register for multiple accounts, essentially a form of leverage... if not money laundering...

https://www.reddit.com/r/singaporefi/commen...late_visa_card/

https://sethisfy.com/nerfed-axs-stops-accep...d-for-payments/

To make matter worse, Chocolate Finance blamed AXS for the card service cancellation when it's they themselves who asked AXS to cancel the service.

Typical kiasu kiasi SG behaviour seen very obviously...



This post has been edited by TOS2: Mar 10 2025, 12:29 PM

Don't promise people what you can't do... Lesson for digital banks and fintech.

Especially the ones offering 5% p.a. deposit promo only to keep cutting them down to 2% p.a.



This post has been edited by TOS2: Mar 11 2025, 12:19 PM

FT Singapore

‘Rich and naive’: why Singapore is engulfed in a ‘scamdemic’
City-state residents who are digitally native and naturally compliant with authority are especially vulnerable to fraud

https://www.ft.com/content/3299cf7e-67bd-46...a9-55fc24a66b63 (Use a paywall bypass to read it fore free)

-Scam victims in Singapore lost the most money of any country in 2023, at $4,031 each, compared with second-placed Switzerland at $3,767 and third-placed Austria at $3,484. The number of scam cases reported to Singaporean police rose 10 per cent in 2024 on the previous year to 51,501.

No, do not ever mention the word investment when you open an account with any bank.

Tell them you like their SGD FD rates, or will go to SG often to travel, or you like their MYR to SGD FX conversion rate.

Say anything that will please the bank, even though they are complete nonsense.

What have you done to this thread Ramjade

Suddenly open SG bank account topic become single, no gf, kids suck $$$



But yea, bro Ram, cheapstake girls are hard to come by. Girls these days expect guys to pay for everything, buy endless present, gifts.

It never ends bro. If you don't make them realize the beauty of economic rice in Malaysia and Singapore, we the "4k a month in Klang Valley fresh grad" men will go bankrupt sooner rather than later with endless personal loans and credit card debts.

I broke up recently over money issues, and feel for you as well.

As for kiasu schools, best milk powders. I graduated from a not-so-popular primary school very near my house. Aced through UPSR with 7As. entered the top secondary school in Penang. My neighbour went to top primary school a little further from my house, still entered the same secondary school as mine, with slightly poorer results.

The best milk powder and top-tier schooling system can only help that much. Having seen and dated with girls with terrible attitudes, one must conclude that parent's nurturing and education matters the most in the end.

Enough off-topic stuffs, let's continue with opening bank accounts in SG.

This post has been edited by TOS2: Jul 20 2025, 10:28 PM