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Opening a Bank Account in Singapore
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joeblow
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 Jul 22 2023, 06:07 PM
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QUOTE(Ramjade @ Jul 22 2023, 06:03 PM) Once I reach rm10k, I move my money to Singapore. I can reach rm10k if I grind, if not it's just rm5k like that. So currently for MYR to transfer to SGD to Singapore bank, which is the best platform for less than rm30k? Sunway Money? If you move frequently, do you get audited or fund freeze by either Malaysia or Singapore side? I think once ringgit strengthens (ie if they strengthen at all) back to around 1 to 3.3, I may start move my ringgit to overseas. A bit fed up to keep ringgit to be honest... When you go overseas you feel the pain converting Ringgit. |
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joeblow
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Jul 22 2023, 06:28 PM
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QUOTE(Ramjade @ Jul 22 2023, 06:17 PM) I kena audited both my Singapore and Malaysia side. For me, so far, Sunway money have always give me the best rate. Years already. Not sure why Medufsaid said moneymatch better. I will do comparison on Monday (just key in and see amount) and do real transfer next month and see who have the best rate. Audited from sunway money and cimb SG. They want my bank statement to see where my money is coming from. No fund freezes. Just give them the statement via email, answer their call (sg side and you are good). I have been transferring ringgit since 1mdb started. I transferred regardless of ringgit price cause long term ringgit can only go down. What is expensive today is actually cheap in future. Thanks for the info. So the audit is done by Sunway and CIMB SG, not BNM or LHDN right? Actually I don't know what Sunway can do since a bank statement doesn't tell anything much. I fear more from BNM or LHDN, though I have been audited by LHDN twice. Just want to avoid the trouble. Yes ringgit is on downtrend. But so is vietnam dong, thai baht, indo rupiah 10 or 20 years ago. All recovered to perform better than Malaysia. Let's keep the faith eventually Ringgit will go back up... But my plan eventually is to move fund out from 75% Malaysia 25% to overseas to more 50% 50%. |
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