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 Opening a Bank Account in Singapore

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jake9110
post Apr 25 2020, 07:52 PM

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From: Petaling Jaya


Hi guys, I just opened my cimb fastsaver account and about to fund the account. Looking through the comments in this forum, it's usually from cimb my to cimb sg. But did anyone tried funding using instarem and to fund minimum (eg. SGD 10) from own cimb account? Would it still recognize as our own fund transfer?
jake9110
post Apr 25 2020, 09:20 PM

Getting Started
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Junior Member
94 posts

Joined: Jul 2010
From: Petaling Jaya


QUOTE(cklimm @ Apr 25 2020, 08:39 PM)
I am actually using BigPay to transfer to SG. Yes, it is not the best rate, but what else gives you 50 days of interest free period?
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Thanks for the reply. Did you use BigPay for first time transfer?
jake9110
post Apr 25 2020, 10:29 PM

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Junior Member
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Joined: Jul 2010
From: Petaling Jaya


QUOTE(solstice818 @ Apr 25 2020, 10:07 PM)
Yes, it's considered. I did with SGD1.
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Thanks bro for sharing your experience. Will use instarem to transfer sgd999 and cimb my sgd1 then xD
jake9110
post Jun 10 2020, 09:41 PM

Getting Started
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Junior Member
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Joined: Jul 2010
From: Petaling Jaya


QUOTE(mrbean12345 @ Jun 10 2020, 12:45 PM)
Hi all, yesterday just signed up for CIMB fast saver account. And I already linked MY CIMB to SG CIMB. Havent fund it with 1000sgd yet.

just want to ask, can I fund the fast saver account with my friend's SG account? meaning I ask him to transfer 1000sgd to my CIMB fast saver account, then i will pay him ringgit in Malaysia to his account. or must i fund it using my linked CIMB Malaysia account?

Also, is this account fully activated already? can i start using it or have to wait someone to call me first ?

thanks a lot
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Hi, I just opened my CIMB SG back in Apr'20. I asked my cousin who's in Singapore to transfer SGD1k to me. When they called for verification, they confirmed that the fund was received; however I need to transfer from my own. So I confirmed with them and just transferred SGD10 from my own MY a/c. And it got activated!

Just sharing my experience on this. Hope it helps.
jake9110
post Jun 11 2020, 08:53 AM

Getting Started
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Junior Member
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Joined: Jul 2010
From: Petaling Jaya


QUOTE(mrbean12345 @ Jun 10 2020, 10:32 PM)
wow thanks man, this is very helpful. Just asking, what did the bank ask when they call you? What reason you gave them for opening the account? I plan to open ibkr there but currently do not have any investment in SG and i do not work /study there...
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I told them that I would like to have a foreign account to keep my money for savings purpose, with in view to move there in future.
jake9110
post Jun 11 2020, 08:55 AM

Getting Started
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Junior Member
94 posts

Joined: Jul 2010
From: Petaling Jaya


QUOTE(jack2 @ Jun 11 2020, 08:47 AM)
wow... really work?
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It worked for me. I clarified with the bank PIC when she called and she said they just need to have me transfer from my own account. Minimum funding is SGD1k but no T&C mentioned that all must be from my own name.

Either my interpretation is right or I'm just lucky xD

 

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