I am interested to open a Singapore Savings Bond.

If I am unable to travel to Singapore , how can I open a CDP account? I have a saving account with POSB.

Sometimes, photocopy of our Malaysia Identification Card is needed for banking purposes in Singapore.

For that, is it okay to cross out the photocopy, and write "Not for Loan", and "Only for XXX Bank - To Open Saving Account" on the photocopy?

Not really. I am a Malaysian, and made a small initial investment in Singapore Savings Bond, a month ago.

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The interest gained in investing in Singapore Savings Bonds is around 2 %. It is not much, but it is slightly better than the Fixed Deposit in Singapore.

Then again, should I invest instead in Sreits, if the risk in Sreits is manageable?

Any advice from any experts here is very much appreciated here.

This post has been edited by kart: Jun 18 2016, 11:22 PM

Thanks for your insight, Hansel.

I realize the need to balance between the potential gain (or interest), with the tolerable risk I may face. For sure, with such great amount of knowledge you have, you know where to invest your money to maximize gain, while minimizing pitfall and loses.

For a newbie like me, I have a lot to know to learn from you all.

By saying 'instruments in the SGX', are you suggesting to invest in stocks in SGX?

This post has been edited by kart: Jun 22 2016, 03:52 PM

For me, I have POSB and OCBC (Singapore) saving accounts. Do I still need to open a Maybank Singapore saving account? So, is it cheaper to move fund between Maybank Malaysia saving account and Maybank Singapore saving account?

For now, I use Visa Direct to transfer fund from Maybank Malaysia saving account, to my POSB saving account. The fund is transferred via Visa network, into my a debit card linked with my POSB saving account. Then, via FAST, I can transfer fund between POSB and OCBC (Singapore) saving accounts, for free.

Yeah, this method may not be the cheapest method, so I am open to any suggestion from you all, on the cheapest and best way to move fund between Malaysia saving account and Singapore saving account.

Thank you for your advice.

Hansel, thank you very much for sharing your tips here.

1) What is the best way to remit money from Malaysia saving account to Singapore saving account?

2) You mentioned one good point of having a DBS saving account. As mentioned earlier, I have a POSB and OCBC (Singapore) saving account. Do I still need to open a Maybank Singapore saving account?

Your advice is highly appreciated.

Thanks for your input, ShinG3e.

The instant transfer method you mentioned is done over the bank counter, right?

I opened my POSB saving account, when I was a student there.

This post has been edited by kart: Nov 18 2016, 10:23 PM

Hansel
Thank you for your advice. I shall open a Maybank Singapore saving account, as you recommended.

Yes, I agree with you that opening too many saving accounts in Singapore is a hassle and troublesome to maintain. But, as Hansel mentioned, fund transfer between Maybank Malaysia and Maybank Singapore saving account is the second cheapest method, after DBS Remit. In this case, the benefit outweighs the inconvenience.

Just to confirm, you are suggesting Maybank iSAVvy Savings Account, not iSAVvy Savings Plus Account, right?

Is it possible that at the time of saving account opening at selected Maybank Malaysia branch, I choose not to buy a SGD 500 bank draft? Once I have the account number for Maybank Singapore iSAVvy Savings Account, I will transfer SGD 500 from my POSB saving account, via FAST.

It should be possible, right? In the iSAVvy form you gave, it is stated:"Please place a deposit within 30 days from the date of account opening.". So, Maybank Singapore should allow the zero account balance within 30 days from the date of account opening.

This post has been edited by kart: Nov 19 2016, 03:14 PM

ShinG3e

For Maybank iSAVvy Savings Account,

1. Can I register my Malaysian mobile phone number, for receiving Transaction Authorisation Code (TAC) via SMS, to be used in Maybank Singapore Online Banking website? I do not have a Singapore mobile phone number.

2. Once the saving account has been opened in Maybank Singapore, they will send Maybank Platinum Debit Card, and Security Token to our residential address in Malaysia, say after around 2 weeks later, right? Hopefully, upon receipt of the card via mail, I can activate the debit card in Maybank Singapore Online Banking website, without using a Maybank ATM.

3. As long as my balance in the saving account is more than S$ 500, there should not be any other fee incurred to the account, right?

4. Is it possible to select a specific branch to be our home branch? For example, I want Maybank Bedok branch to be my home branch in Singapore.

Thank you very much for your information.

This post has been edited by kart: Nov 25 2016, 07:33 AM

No worries, ShinG3e. You are already very helpful to us here, and I cannot thank you more.

Here, we may not know everything, but we try to share our real-life experience of using the banking product, for the benefit of everyone here. These information is way better than the misleading information, given by the clueless Customer Service Officers.

As shown in http://info.maybank2u.com.sg/personal/depo...debitcards.aspx, the Maybank Platinum Debit Card, bundled with Maybank iSAVvy Savings Account, does not have any annual fee. That is good.

This post has been edited by kart: Dec 4 2016, 10:18 AM

I am quite new and have not bought share before. Apologies, if my questions seem silly to experts like you all.

What I know is that the we use online trading account to buy share (in Singapore Exchange, SGX, in this context). Then, what is a settlement account, and what is the difference between an online trading account and a settlement account? Why do we need a settlement account, to buy shares in SGX?

Yes, I tried to google "settlement account", but the meaning is unclear for a layman like me.

I already have a CDP (Singapore Central Depository) account.

Thank you for your information.

Same for me as well. Thanks to ShinG3e's advice, I now have a Maybank Singapore iSavvy Saving Account. Recently, the debit card and security token were sent to my home, and I have activated the access to Maybank Singapore online banking website.

You are lucky , and maybe you are a high net worth customer to Maybank Singapore. I am just joking.

I never received any call at all from Maybank Singapore regarding my application status, and approximate date I would receive my Security Token and debit card. I had to continuously call them, to follow up with my application status, and to ensure that I get the complete set of items (such as Access ID, PIN Mailer, Security Token and debit card).

Anyway, minor conveniences asides, I am now happy that I have a Maybank Singapore saving account.


Regarding the debit card activation, I think that we cannot activate our debit card by sending the activation SMS, since we do not have our own Singapore mobile phone number. So, we have to personally call Maybank Singapore Customer Service Line, to activate our debit card.

It is not cheap to dial a Singapore landline number, but it is far better than travelling all the way to Singapore, just to activate the debit card over the counter in Maybank Singapore.

This post has been edited by kart: Jan 28 2017, 11:46 AM

Happy Chinese New Year to you!

Here is the list of items I received from Maybank Singapore, in case anyone else want to know about them:

1. Welcome Letter (showing your Maybank iSAVvy Savings Account number)

2. Maybank Singapore Online Banking Access ID Letter

3. Online Banking Access ID PIN Mailer

4. Online Banking Security Token

5. Maybank Singapore Platinum Debit Card

6. Maybank Singapore Platinum Debit Card PIN Mailer

7. Maybank PhoneBanking (Dial-Link) (Optional)

8. Maybank PhoneBanking (Dial-Link) PIN Mailer (Optional)


The general contact number is in http://info.maybank2u.com.sg/personal/cust...contact-us.aspx.

Telephone number: (65) 6533 5229

The thing is that the Maybank Singapore Customer Service Executive will not forward our call to the actual Maybank Singapore officer in-charge of opening our saving account. So, Maybank Singapore Customer Service Executive themselves do not really know about the actual processing status, unless being informed by the actual Maybank Singapore officer-in-charge.

I called the general telephone number twice a week. After being informed by the actual Maybank Singapore officer-in-charge, the Customer Service Executive should be able to tell you the date on which the items are sent out from Maybank Tower (Maybank Singapore Headquarters in Battery Road, Singapore) by mail. After a week or so, you should receive the items in your house.

This post has been edited by kart: Jan 30 2017, 10:15 AM

Slightly more than 1 month, for my case. I sent my application form, at Maybank KL Main Branch.

It is up to you really, but I called Maybank Singapore general contact number, at least once a week, to check whether they had sent the items (security token, debit card, and so on) to me.


In my opinion, it is not much helpful, if you call Maybank Shah Alam branch, which is responsible in only sending the form to Singapore.

Once your application form was sent out from Maybank Shah Alam branch, it is no longer the responsibility of Maybank Shah Alam branch anymore. You have to directly liaise with Maybank Singapore HQ, on any matter related to the processing of your Maybank Singapore saving account.

It is best to call Maybank Singapore general contact number directly. It is not cheap to dial Singapore landline number, but you will get faster response from Maybank Singapore, than sending e-mail to them.

1 month is the entire duration, starting from the date you send your application form, to the date you receive all of the items by post in your house.

In my opinion, the actual time needed to open a Maybank iSavvy saving account is around 3 working days, if Maybank Singapore receives the full set of your form and supporting documents by post.

Most of the waiting time is due to inefficiency of our postal system in Malaysia, resulting in the delay of sending the items to our home.

Between SingPost and Pos Malaysia, which one is more efficient? I strongly believe that SingPost would have quickly sent the items from Maybank Singapore, to Malaysia. Once the custody of the items has been transferred from SingPost to Pos Malaysia, you would know what happens next.

It is a great deal and very convenient for us to open a Maybank saving account in Singapore, with the help of Maybank Malaysia. We do not need employment visa or student visa to apply, as long as we already have a Maybank Malaysia saving account.

Good things come to those with patience. For sure, if we are high net worth individuals with insane amount of money, we can get things done faster.

But, I am just an average Joe. So, I do not mind waiting that long, as long as the end result is what I desire.

You are entitled to your own opinion, and we respect that.

This post has been edited by kart: Jan 31 2017, 09:31 AM

Thank you very much for your generous advices as always, Hansel. We, newbies, have so much to learn from you.


As you rightly predicted, it is getting tougher to open a Maybank Singapore saving account, ranging from the need to furnish LHDN tax reference number, to the requirement of higher initial deposit of SGD 5000. Luckily, other posters and I heeded your wise advice, and quickly opened a Maybank Singapore saving account.


Well, I shall use it as an account to receive dividend from S-REIT. I just started learning the basic A to Z of S-REIT, before I will start to invest in it.


I also invested in Singapore Saving Bonds, and I agree with you that its dividend is too low, compared to S-REIT. But, I shall keep the bonds for diversification, and I will use additional money to invest in S-REIT.


What I have now:
1) POSB Saving Account
2) OCBC Singapore Saving Account
3) Maybank Singapore iSavvy Saving Account
4) Singapore Exchange CDP Account

One question: I have a Standard Chartered JustOne Personal Account (saving account cum current account) in Malaysia. With that, does it make it easier to open a Standard Chartered saving account, and trading account in Singapore?

Thanks again for your advice.

This post has been edited by kart: Feb 1 2017, 10:33 AM

Really? The website (http://info.maybank2u.com.sg/personal/depo...gs-account.aspx) did not mention about higher initial deposit of SGD 5000.

Even if we can withdraw SGD 4500 after account opening, we still need to prepare SGD 4500 of money, probably by exchanging RM to SGD at bank's poor exchange rate. Man, not all of us do have SGD 5000 ready in cash.

You can argue that Maybank Singapore officers have not briefed Maybank Malaysia officers in KL Main Branch, about the higher initial deposit of SGD 5000.

Thus, Maybank Singapore should allow you to open iSavvy saving account, as per the previous rule of the initial deposit of SGD 500, in this transitional period.

This post has been edited by kart: Feb 1 2017, 10:29 AM

If you have received the SMS, you should have successfully opened the iSavvy saving account. Congratulations. Otherwise, why would Maybank Singapore register your Malaysian handphone number to receive the SMS One-Time Password?

Around the week or so, you should start to receive Welcome Letter, Security Token, debit card and so on.

I have some questions about online application of Maybank Kim Eng Trade Prefunded Account.

For online application (https://eforms.maybank-ke.com.sg/page-1.html), I shall select 'Stocks',

It will lead to this page https://eforms.maybank-ke.com.sg/page-2.html. Judging from your response, it is not really a full fledged online application form, whereby we can just fill up our particular details, and then upload the necessary documents to the website. For that, we still need to manually fill out application form and send the forms to them via post, right? It is a bit of hassle.


Refer to this website (http://www.maybank-ke.com.sg/open-an-accou...listing/stocks/).

I have a CDP account, so I should not need to have my supporting documents certified by Commissioners for Oaths. At most, I will send my CDP statement to Maybank Kim Eng by post.

This post has been edited by kart: Feb 26 2017, 10:03 PM

For online application of Maybank Kim Eng Trade Prefunded Account (https://eforms.maybank-ke.com.sg/page-3.html):

What option should I choose for the following?

Type of Account for Stock Trading

b. Prefunded, or;

c. Cash and Prefunded

This post has been edited by kart: Feb 28 2017, 10:21 PM