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 Opening a Bank Account in Singapore

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annoymous1234
post Jun 16 2022, 07:38 PM

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will cimb sg saving account become dormant if there's no activity?
annoymous1234
post Jun 17 2022, 10:50 AM

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QUOTE(elea88 @ Jun 16 2022, 09:13 PM)
every few months put in money take out money
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So it's that a yes or no?
annoymous1234
post Sep 12 2024, 12:05 PM

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QUOTE(Medufsaid @ Apr 26 2024, 01:28 PM)
influencers should always make sure their info is correct, if outdated, have to immediately retract their posts/videos. no harm in trying out the old Wise method, just need to wait for phone call only.

my friend's experience was this

  • deposited $1k via wise
  • 28 days later receive call to bankin via CIMB MY
  • 18 days later acct finally opened. you do the math of grand total of days
i recommend opening MBB sg ar-rihla first instead https://apply.maybank.com.sg/regionalcasa/A...Opening/arrihla
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Hey sorry need to ask, can mbb sg transfer to ibkr? Is it cheaper than cimb sg?
annoymous1234
post Sep 12 2024, 12:23 PM

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QUOTE(Medufsaid @ Sep 12 2024, 12:12 PM)
annoymous1234 if you have SGD in your CIMB sg or MBB sg acct, it's free to send SGD to IBKR
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Because I currently have both CIMB and MBB MY account, no sg account yet, so I'm not sure which is cheaper cost to transfer to IBKR, so u mean no difference right whichever bank I choose, since it's free to transfer? What about the conversion of MYR to SGD by bank, do they charge a fee like wise?

This post has been edited by annoymous1234: Sep 12 2024, 12:30 PM
annoymous1234
post Sep 12 2024, 01:06 PM

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QUOTE(Medufsaid @ Sep 12 2024, 12:45 PM)
annoymous1234 we use

  • moneymatch if over S$850
  • duitnow overseas transfer for under $$850 (currently not supported by Cimb sg)
other remittance companies include

  • transferwise
  • Sunway money
  • bigpay
Don't use bank to directly transfer MYR->SGD as they cost 2x-3x compared to those listed above
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Thanks!
annoymous1234
post May 10 2025, 10:57 PM

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I just open a CIMB SG account, received email with the application. However I need a password send to my mobile number to open the application attached, and I didn't receive any, anyone got experience how long need to wait for CIMB SG to send sms?
annoymous1234
post May 11 2025, 09:00 AM

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QUOTE(Medufsaid @ May 11 2025, 06:56 AM)
annoymous1234 just to be clear, you only received the email that moonsatelite received right? ("thank you for choosing CIMB your new account number can be found at the top right corner...") https://forum.lowyat.net/index.php?showtopi...ost&p=108740297

have to wait for tuesday i think (bcos it's a manual process for them to send you sms)...

and after that, a long 2 week review process before you finally reach this
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Different. I got this

Thank you for applying for our CIMB FastSaver Account application. The completed application form is attached to this email for your reference. Please use the password sent to the mobile number provided in your application to open the document.
annoymous1234
post May 11 2025, 01:28 PM

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QUOTE(Medufsaid @ May 11 2025, 11:05 AM)
annoymous1234 do you see this sentence anywhere in the email?if documents not in order/ or no bank approval, or any miscellaneous issue etc etc etc. the wordings seems to be slightly different each time
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Nope. But it did say
We will be in touch with you if further clarification(s) or information is/are required with regards to your application.

Should you have any questions or require further information, please do so at Call Centre Bot or call our CIMB At-Your-Service at (+65) 6333 7777 (9am to 7pm daily).
annoymous1234
post May 26 2025, 06:22 PM

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QUOTE(Paul13579 @ May 26 2025, 05:21 PM)
Usually pretty quick, like minutes. Might be worth retrying or checking signal
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I didn't receive any sms until now. I'm worried I enter the wrong number during registration. Also, my application status is still under processing since 10 may. No one has called or even email me. sweat.gif
annoymous1234
post May 26 2025, 06:56 PM

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QUOTE(Medufsaid @ May 26 2025, 06:28 PM)
annoymous1234 have you already deposited S$1k into CIMB sg acct for verification purposes?
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No. I don't know what is my logins detail's to login cimb sg or even account number.all I have email from cimb sg attached with my application form, Which is passwords protected and the password which is supposed to sms to me.

This post has been edited by annoymous1234: May 26 2025, 06:57 PM
annoymous1234
post May 26 2025, 08:01 PM

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QUOTE(Medufsaid @ May 26 2025, 07:42 PM)
annoymous1234 have you linked to CIMB MY already?

user posted image

after linked, it should appear here (just that u cannot withdraw S$ until acct approved)

user posted image
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Yes I did it after I register that day, but it didn't appear like yours. I think it means my application not approved?
annoymous1234
post May 28 2025, 11:50 PM

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QUOTE(Medufsaid @ May 26 2025, 08:22 PM)
yea.. then your situation is unique, or CIMB SOP already changed from years ago. usually what happens is, u can still see amount details from CIMB MY side before CIMB SG actually approved/activated
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update. i just received email from CIMB SG asking me to transfer SGD1000 to continue my application, I also have my account number, now doing the linking,
btw, if they ask me what is the purpose of opening account, is it safe to say for investment? if they ask me what investment, how to reply? i scare sweat.gif

This post has been edited by annoymous1234: May 28 2025, 11:51 PM
annoymous1234
post May 29 2025, 11:42 AM

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QUOTE(TOS2 @ May 28 2025, 11:56 PM)
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.
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FD sounds good. Thanks!

QUOTE(Medufsaid @ May 29 2025, 06:51 AM)
annoymous1234 a tip here. you can either link by

  1. transferring S$1k from CIMB MY (expensive), or
  2. open an MBB sg acct now and transfer S$1k from MBB sg to CIMB sg https://apply.maybank.com.sg/regionalcasa/A...Opening/arrihla
route no. 2 will allow you to save on forex costs, but of cos that means you'll end up with 2 sg bank accts. CIMB sg used to allow deposits from wise for verification purposes but not anymore
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Very likely I'll just go for option 1, just want to get this over with. sweat.gif
annoymous1234
post Jun 2 2025, 08:05 PM

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Good news! My cimb sg application is approved! Got the sms too. Means my number didn't enter wrong. Phew!
annoymous1234
post Jun 2 2025, 08:05 PM

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QUOTE(Medufsaid @ May 29 2025, 11:47 AM)
if you make your transfer to SGD via sunway money, do they ask you for reason of transfer like money match? i haven't done any transfer via sunway yet
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Later I will try
annoymous1234
post Jun 25 2025, 03:49 PM

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I'm comparing the most cost saving way to transfer money from ringgit to CIMB SG to transfer to IBKR. I did a comparison of sunway money, wise, and CIMB MY, but not sure if I'm doing it the right way, based on what I see, sunway money is the cheapest, but I need advise if I'm doing it correctly.

this is CIMB MY straight to CIMB SG
Attached Image

This is sunway money
Attached Image

This is wise
Attached Image

This post has been edited by annoymous1234: Jun 25 2025, 03:50 PM
annoymous1234
post Jul 6 2025, 12:38 AM

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QUOTE(Ramjade @ Jun 26 2025, 09:36 AM)
Do not use cimb my to transfer money.
Use sunway money or moneymatch
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How about transferring money from CIMB SG back to CIMB MY? How to get the cheapest fees?
annoymous1234
post Jul 23 2025, 10:35 PM

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QUOTE(genuinehuman @ Jul 23 2025, 10:12 PM)
Hey bro , in the end what you do reply to them the purpose of the account ?
How long does it take for you from application submission till approved?

For me I also plan to open CIMB SG for IBKR investment purpose
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They didn't ask me the purpose, just straight approve.
I think it took around 3 Weeks from beginning to end

 

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