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 Opening a Bank Account in Singapore

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Wolves
post Aug 1 2022, 03:38 PM

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QUOTE(Ramjade @ Jul 31 2022, 06:55 PM)
If you have CIMB my bank account, very easy to open CIMB sg account. All can be done via online.

If you don't have CIMB, you can use Maybank. Difference is CIMB sg does not require lockup of sgd500 while Maybank sg needs you to lock up sgd500 or else there's a monthly fall below fees of sgd2.00/month.

Another difference is Maybank sg application better to do it via certain Maybank branch in Malaysia.

So actually you don't need to fly there. You fly there only if you want pure sg bank account and not a Malaysian bank which operate in Singapore. But if you want convenient, just pick either CIMB or Maybank sg as your sg bank.

Btw, you need to choose where you want to invest. If you don't have enough money, choose your investment wisely. If you have lots of money, no issue. A lesson I learned. I was too diversified. Everything also I want to buy.
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Thank you boss for the tips and tagging. No CIMB so might need to go maybank route. I am looking into transferwise option as well since they allow sgd holding. I also have some "pocket change" with someone in sg so i could also explore the option of asking them to bank into the account for me. The biggest issue is as you pointed out. "Where to invest" and "what to buy". I see you mention IBKR a lot at the other thread so i just searched them and read up. A bit complicated so i put it on hold at the moment. Still waiting for my KDI to get approval (3.38pm already.. no hope today) and once i settle that one i will look into the IBKR further. Thank you boss.


 

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