Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 Opening a Bank Account in Singapore

views
     
lil_flank
post May 30 2020, 11:25 AM

Casual
***
Junior Member
472 posts

Joined: Jul 2007
From: Far Far Away
QUOTE(Ramjade @ May 30 2020, 10:16 AM)
Is either you transfer using CIMB sg or use a local sg bank.

Just open a free basic account and be done with it. It cost only Rm20. Make sure you ask for the free basic account. There's a paid basic savings account.
*
Do u mean the CIMB Basic Savings Account 1 with no annual fee? Can i use CIMB click/online for this basic savings account?
lil_flank
post May 30 2020, 04:05 PM

Casual
***
Junior Member
472 posts

Joined: Jul 2007
From: Far Far Away
QUOTE(Ramjade @ May 30 2020, 12:00 PM)
Yes. There are 2 types of basic savings account. The free and the rm8/year.
All CIMB account comes with CIMB clicks.
Don't be cheapskate.Just pay the rm20 opening fees.
With border close, you can't even travel to sg
Even if border open your rm20 is still cheaper than travelling down there.

So again, Don't be a cheapskate. Go open CIMB free basic savings account and pay the RM20.
*
Ok. I will apply the basic savings account with no annual fee.

What is an opening fee? I do not need to travel to SG because i am a SG PR therefore i can just apply CIMB FastSaver through online.
lil_flank
post May 30 2020, 05:50 PM

Casual
***
Junior Member
472 posts

Joined: Jul 2007
From: Far Far Away
QUOTE(Ramjade @ May 30 2020, 05:20 PM)
If you are SG PR, you can forget about opening CIMB My account cause this is for those who want to open CIMB sg according without working or studying in sg.

For you to open an account can be done online. Login to your singpass and open an account from there
*
I wana transfer some funds from Singapore bank to Malaysia. Heard the rates of Cimb FastSaver is quite good (not referring to TT wiring). But Cimb Fastsaver also need a Cimb Malaysia savings account to link in order to do the transfer. But they did not mention which Cimb saving account in Malaysia. I called Cimb MY but she was not aware of this Cimb FastSaver.

I have just applied the Cimb FastSaver using my Singpass. I have also applied Cimb Basic savings account thru online. They require me to bring mykad to any Cimb branch for verification. Hopefully can link these two savings together so i can transfer my SGD to my Malaysia account.

This post has been edited by lil_flank: May 30 2020, 05:54 PM
lil_flank
post May 30 2020, 07:23 PM

Casual
***
Junior Member
472 posts

Joined: Jul 2007
From: Far Far Away
QUOTE(Ramjade @ May 30 2020, 06:45 PM)
I am sure you have other sg bank account right?
Don't need to open CIMB my.

1. Open CIMB SG Fastsaver.
2. First transfer use any local SG bank under your name to transfer SGD1k and you are good to go.

Step 2 cannot be done if you don't have local sg bank account. I used step 2 last time as there was no easy way of using CIMB my to transfer SGD to validate account.

Since you are PR, just use some of sg fintech to transfer money. instarem sg, M1 remit, singx is cheap
*
Yes, i have DBS and OCBC savings account in SG therefore i am planning to transfer S$1000 into my Cimb FastSaver to validate my account.

I am currently using M1 remit but the currency rate is not that good even though the service fee is cheap. (Eg. Internet currency rate S$1=Rm3.08; M1 Remit is S$1=Rm3.059).
Singtel Dash have better rates but there are too many limitations.

So now i wana give Cimb Fastsaver a try because heard alot of good reviews that it offers best currency rate.

This post has been edited by lil_flank: May 30 2020, 07:24 PM
lil_flank
post May 31 2020, 12:53 PM

Casual
***
Junior Member
472 posts

Joined: Jul 2007
From: Far Far Away
QUOTE(Ramjade @ May 31 2020, 10:54 AM)
Yup. Rates to transfer back money to Malaysia is good. But this is only good if you don't have access to their fintech. I am very are stuff like singx, world first, instarem is cheaper than CIMB.

Some stuff to note
1. Cheap rates is a promo. Not a feature. Don't know when they will terminate it.
2. Unless you have a Malaysian IC, don't think you can get free basic savings account as it's for Malaysian only.
Can. Only you won't get the cheap promotional rates. tongue.gif
*
Ohh i see.. Then i better start switching some of my SG funds to MY if the CIMB rate is good now.

I am a Malaysian so i have Malaysian IC. I will go to the CIMB branch tomorrow to validate my MYKAD.
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.1757sec    0.70    7 queries    GZIP Disabled
Time is now: 2nd December 2025 - 06:28 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.