QUOTE(prince_mk @ Dec 14 2015, 09:50 PM)
Opening a Bank Account in Singapore
Opening a Bank Account in Singapore
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Dec 15 2015, 09:58 AM
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#1
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Feb 3 2017, 11:17 AM
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#2
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QUOTE(AIYH @ Feb 2 2017, 05:20 PM) Because unlike malaysia, the SGDMYR Rate is only visible to their customer via online banking I only have 1 bank; this is the rate I got; is it considered competitive?Hopefully everyone here, who have all these 3 banks account, or can work tgt, to publish the rate for these 3 banks Also can help to introduce any other account with competitive fees and forex rate (interest rate is out of the question in this comparison |
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Feb 3 2017, 12:28 PM
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#3
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QUOTE(AIYH @ Feb 3 2017, 12:11 PM) From available data (maybank, cimb, pbb, hlb, rhb, ambank, affin, abmb, ocbc, uob, hsbc), Yeah, UOB tends to offer the best forex rates. UOB Privileged banking customers get slightly better than board rates. But I think bbgoat mentioned for USD Citigold offers even better rate than UOB.Maybank FOREX CIMB FOREX PBB Bank Hong Leong FOREX RHB FOREX Ambank FOREX Alliance Bank FOREX Affin FOREX OCBC FOREX UOB FOREX UOB offer the better rate at 3.1695 (among bank rates) |
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Feb 3 2017, 02:30 PM
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QUOTE(Ramjade @ Feb 3 2017, 01:43 PM) They are talking about which SG bank is the best bank to move money back to Malaysia (should you need it). However IMO, the best bank is They seem to keep increasing minimum deposit amount before charging maintenance fee; my DBS minimum is only SGD1k; n previously only SGD500(i) one with low maintenance fee (prebably SGD2/month) (ii) one with cheap brokerage (SGD10/transaction) However beggers can't be choosy and the only banks which let Malaysians open account are DBS, and Maybank. Cimb is not counted as one need a local SG account first. They even throw in better rates than board rates should one transfer >RM20k/transfer. Bad thing is limited branches, can only be done via counter. They don't have online transfer. Citigold needs RM400k park with them. People like me mana ada RM400k Maybe auntie/sister dasecret is in the same class with bbgoat? Hmm, CIMB cannot open SG account anymore? Just last year or the year before can open a CIMB SG account through CIMB Msia; don't even need to go to SG physically. Link to cimbclicks Msia even I don't really bank with Citibank, so no status la, status borrower only |
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Feb 3 2017, 02:46 PM
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QUOTE(Ramjade @ Feb 3 2017, 02:37 PM) It's because it's Multi Currency account (the only account they let Malaysians open now). No more SGD1k account unless you are working there. Err... no link... from what I know, it was done through CIMB RM in Msia. Not sure if it's a service only extended to preferred clients. Not sure if they still offer it now. I thought I posted about it sometime backI didn't know Cimb Malaysia got such feature. Care to share the link? The minimum amount for the CIMB account was also SGD1k This post has been edited by dasecret: Feb 3 2017, 02:48 PM |
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Feb 3 2017, 04:32 PM
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#6
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QUOTE(TOMEI-R @ Feb 3 2017, 04:27 PM) The easiest account opening in Singapore right now would be CIMB. You dont even need to be present at their Singapore branch. You can open an account online but the catch is that you must perform a "FAST" transfer from another Singaporean bank account. FAST transfer is like our local IBG here. Im not sure though if you can get someone else account to transfer over the SGD $1k for account opening. |
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Feb 3 2017, 05:02 PM
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#7
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QUOTE(AIYH @ Feb 3 2017, 04:34 PM) FAST is more like our IBFT if not mistaken. Hmm, that must be a different arrangement all together. Like i say, the account was opened >1 year ago. Best to ignore my commentsNo, you must transfer from your own name account, meaning you must have already hold a singapore SA to FAST transfer to CIMB fastsaver to open the account I think CIMB is using that method to meet the KYC and AMLA requirements, leverage on due d done by the other SG bank QUOTE(TOMEI-R @ Feb 3 2017, 04:48 PM) Got letters. Like I say, the account was not opened online, it was opened through preferred banking RM in Msia. After open account, transfer SGD1k to meet the minimum deposit amount requirements |
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