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 Opening a Bank Account in Singapore

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heavensea
post Oct 23 2016, 09:42 PM

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QUOTE(jack2 @ Jun 22 2016, 09:18 PM)
I may go Singapore UOB to open.
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go from JB? biggrin.gif
heavensea
post Oct 23 2016, 10:54 PM

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Hi sifu-sifu,
I want to open "normal" + CDP account at Standard Chartered.

Any other recommendations of sg banks with low transaction charges? My main purpose is trading sg REITs.

Opening account should be done in one day? I'm not jb lang, so it's quite hassle for me to revisit sg again and again.

What kind of documents that I need to open these two accounts? Should I simply bring cash of sgd or there's other safer way to do so?
heavensea
post Oct 24 2016, 05:07 PM

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QUOTE(deadravel @ Oct 24 2016, 03:05 PM)
1 thing, SC dont use CDP for trading acc. they hold ur stock in custodian acc. thats why their fee is lower.

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if u still wan to open sc saving acc + trading acc with them

esaver is the basic saving acc they offer. have to keep $1k in acc to avoid the $5 fall below fee.
but im not sure whether u can open or not. check the requirement https://www.sc.com/sg/save/saving-esaver.html

if u manage to open the acc, just tell them u wan to apply for the online trading acc as well. the cs will help u to apply.
they will ask some question like do u invest before, etc.  :thumbsup:
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Thanks pal, it's very good feedbacks for some newbie like me.
What's your recommendations of banks/trading accouny, I just want to invest in lower risk products like Singapore REITs.
heavensea
post Oct 24 2016, 06:22 PM

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QUOTE(deadravel @ Oct 24 2016, 06:04 PM)
im sorry im not qualify to suggest u any yet. im just starting my journey as well.
sc charge 0.2% rate at $10 minimum fee
but even malaysia brokers allow investment into SG ma not meh.
is the cost much higher if compare to SG brokers?
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This I also not sure bro, sifu in here advise me to open sg account to trade.
heavensea
post Oct 24 2016, 08:37 PM

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prince_mk hi sir, please share your experience with me. I also want to invest in Sg REITs. Tqvm smile.gif

deadravel
thanks bro, nice gesture of yours. biggrin.gif
heavensea
post Oct 24 2016, 10:16 PM

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QUOTE(prince_mk @ Oct 24 2016, 09:45 PM)
Open a trading acx first in Sg.

Btw are u working in Sg? If yes will be more easier.

Sg has tighten d rules for us to get a trading acc.

Try to email or call the bank n enquire for more info on trading acc.
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No, and tq.
heavensea
post Mar 16 2017, 07:59 PM

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QUOTE(Ramjade @ Mar 16 2017, 07:34 PM)
I will help you.
1. Not all Maybanks can do this. You need to find the selected branches. Where to find? It's in the iSavvy forms which you can download from the internet. Keep in mind there's branch for normal people and Priority banking branch. Go to the correct branch.

2. Requirements? It's listed in the pdf form. You cannot transfer straight away. You will need to get a bank draft in SGD under your name from Maybank MY. Fill up the form, drop by at the selected branch, tell them you want to open iSavvy account and they will do the rest. According to Maybank MY page, opening now need SGD5k but last I heard from Maybank SG, min is still SGD500. Don't forget your FACTA forms + income tax proof. Where to get the FACTA forms? You need to email Maybank SG for the forms.

3. Of course can. Unless you are related to xdb or you are dealing in drugs/weapons/human trafficking  whistling.gif Keep in mind every time you transfer back and forth you will lose money. If done frequently, better your money stay in Malaysia. So think and plan carefully before you decide to move money over there  icon_rolleyes.gif

4. After sending over, wait one month, call them up and ask status of application. There will be no SMS/email/calls saying that your application is approved. You need to manually find out yourself.

Btw, all these info are available in this thread. Just browse all the previous post. doh.gif
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thanks to the best guidance/most patient teacher in lyn. wub.gif
much appreciated, not only me but many of us who were guided by your tips. thumbsup.gif

 

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