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 Opening a Bank Account in Singapore

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mrhseinpingq
post Apr 9 2018, 05:25 AM

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QUOTE(Malformed @ Mar 31 2018, 02:31 PM)
It said that:
Minimum Initial Deposit

S$1,000
For single account:
Log into your other bank’s internet banking service and add the new CIMB account as a favourite payee.
Transfer funds via FAST from your individual account to the CIMB account.


However, need to be from bank in Singapore only?
mrhseinpingq
post Apr 9 2018, 03:39 PM

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QUOTE(Ramjade @ Apr 9 2018, 08:28 AM)
Cannot. To activate the account, money need to be transfer from your own account in SG under your own name.  Cannot be under other people's name.
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Yes, that is why i do not have any bank in SG first, unable to open CIMB Fast Saver saving account.
mrhseinpingq
post Apr 9 2018, 06:50 PM

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QUOTE(Ramjade @ Apr 9 2018, 04:01 PM)
You can only apply for EPS. Giro only available for singaporean.
Then open other SG bank account first. Cimb is a lousy bank in SG.  Only good to park temporary money.  Otherwise totally cannot use for anything.

You can open from Malaysia by being priority on both side but is a perfect waste of good money. biggrin.gif
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Before that I need open a Bank in Spore. But the point is I need open 1st.
The question here is not being which bank is good or bad.
The point is open the first account in Spore first.
mrhseinpingq
post Apr 10 2018, 05:16 AM

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QUOTE(young_97 @ Apr 9 2018, 11:52 PM)
Maybank iSavvy . Open from maybank malaysia initial deposit $500

Search iSavvy in this thread u will find more
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I search online for Maybank Spore iSavvy,
http://info.maybank2u.com.sg/personal/depo...gs-account.aspx

It said:

Documents Requirement for Foreigners
At the branch:
Passport
Employment Pass
Proof of Mailing Address (i.e. Utility/Telco/Bank statement with another bank in Singapore) where name must be the same as your Passport and Employment Pass

I am not working in Spore, so do not have Employment Pass.

mrhseinpingq
post Apr 10 2018, 04:50 PM

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QUOTE(young_97 @ Apr 10 2018, 08:48 AM)
No need. This one can apply in Malaysia maybank. No need go singapore.
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But need wait more than 1 month to make sure this account is open.
After open, do we Malaysian need go Spore to verification or activate this account?

Beside I found CIMB FastSaver able to open account too.


mrhseinpingq
post Apr 10 2018, 10:51 PM

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QUOTE(fred131 @ Apr 10 2018, 05:07 PM)
For what I know..as of today 10th April 2018...

Both Singapore CIMB fastsaver account and Maybank iSAVvy Savings Account are for Singaporeans and
foreigners like Malaysians with employment pass or PR status only.

Those Malaysians who do not have employment pass or PR status in Singapore with resident address in
Malaysia need to deposit S$250,000 to open a account in Singapore.
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Wrong! Maybank iSAVvy can be opened in Maybank Malaysia, but need wait 1 months.
CIMB Fastsaver account can be opened by Malaysian not working in spore.
mrhseinpingq
post Apr 11 2018, 12:17 AM

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QUOTE(Ramjade @ Apr 10 2018, 11:14 PM)
Correction. You need a local sg bank account first before you can open Cimb sg account. No local sg bank account,  jgn harap nak open Cimb sg account.
See reply above.
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Wrong! need attend in 2 branches in CIMB bank in SINGAPORE.
no need do FAST transfer, deposit there

mrhseinpingq
post Apr 12 2018, 10:29 PM

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Only Maybank iSavvy, wait 1 month for result
mrhseinpingq
post Apr 13 2018, 12:30 AM

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QUOTE(young_97 @ Apr 10 2018, 08:48 AM)
No need. This one can apply in Malaysia maybank. No need go singapore.
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After open Maybank Spore iSavvy account, can open any FD which give higher interest rate?
mrhseinpingq
post Apr 13 2018, 05:43 PM

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QUOTE(young_97 @ Apr 13 2018, 03:01 PM)
CIMB FastSavers have higher interest rate (1%pa)
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Maybank Spore iSavvy is 1.30% interest rate, higher than CIMB FastSaver
mrhseinpingq
post Apr 13 2018, 06:02 PM

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QUOTE(Ramjade @ Apr 13 2018, 07:06 AM)
Forget about SG FD.  They are one of the worse place to park your money.  SG SSB gives better rates for the same duration.
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SG SSB quite good interest rate. 2 years almost 1.80%

However, they only accept DBS/POSB, OCBC, UOB bank only.
Look like Malaysian (not working in spore) cannot open, if we only have Maybank iSavvy, then open CIMB FastSaver
mrhseinpingq
post Apr 13 2018, 06:09 PM

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QUOTE(Ramjade @ Apr 13 2018, 06:04 PM)
See the min amount needed to get 1.3% doh.gif doh.gif
SGD50k vs Cimb fastsaver of only SGD1k

Besides it's a time limited promo vs permanent feature of Cimb fastsaver.
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You are correct,
Maybank iSavvy 1.30% need min SGD50k.
If not is 0% interest, still CIMB FastSaver saving account is the highest 1% for min 1k.

mrhseinpingq
post Apr 13 2018, 10:26 PM

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QUOTE(young_97 @ Apr 13 2018, 09:54 PM)
Yes you can deposit FD via maybank2u
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Thank you.
just managed to search Maybank iSavvy TimeDeposit.
interest rate not that attractive. is like not more than 0.25%

only is >50k, 1.40% which is same with CIMB Singapore promotion FD, but CIMB require > 20k only


mrhseinpingq
post Apr 13 2018, 11:15 PM

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QUOTE(Ramjade @ Apr 13 2018, 11:12 PM)
You do not open SG account for their FD doh.gif doh.gif That's the worse way to make your money work for you.
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I want to put my SGD money there, in case RM drop a lot.
Later SGD can use to convert USD.

What you guys open Spore account for wat purpose?
mrhseinpingq
post Apr 14 2018, 10:14 PM

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QUOTE(Ramjade @ Apr 14 2018, 01:09 AM)
Just convert RM > USD.  You do know there are multi currency account in SG which can hold USD right?  The RM is strong. Use this current opportunity.

Rather than trying your luck with SG FDs,  you are better off with SSB. Higher 1 year rate study vs FDs. Flexible to withdraw anytime.

Use SGD to invest in dividend stocks,  get dividends,  pump back in,  increase your dividend payout
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RM is strong now, not a good time to change RM > USD.

In order to have SSB, I need to have OCBC, UOB, DBS/POSB bank. Malaysian not working Spore can only have Maybank, CIMB spore.
mrhseinpingq
post Apr 15 2018, 09:51 PM

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QUOTE(prince_mk @ Apr 15 2018, 02:39 PM)
It is easier to get DBS savings acc. Kindly refer to earlier posting.

I m not working in Sg yet I have OCBC and Stanchart acc.
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Hi, can I know which post you refer to as "earlier posting"?
I want to read and survey it
mrhseinpingq
post Apr 15 2018, 10:55 PM

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QUOTE(Ramjade @ Apr 15 2018, 10:16 PM)
The whole thread. That's what I have been asking you to do. Looks like you didn't do your homework  biggrin.gif
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ppl here said can open OSBC spore. you only said only Maybank iSavvy, CIMB Fast track.
mrhseinpingq
post Apr 15 2018, 11:27 PM

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QUOTE(Ramjade @ Apr 15 2018, 11:02 PM)
I wrote a detail step by step on how to open a DBS account before. From your reply, looks like you didn't read through the whole thread.  If you don't want to take time and read, then I can't help you.

DBS, OCBC, UOB, you need to be there. Maybank is for those don't want to be there. Cimb is for those already have a SG bank account in the first place.
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Oh, okay, then I read your post by searching your profile and message. thank you
mrhseinpingq
post Apr 17 2018, 09:11 PM

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QUOTE(Ramjade @ Apr 17 2018, 09:10 PM)
Yes.  But you can open without one if you can give them proof why you don't have one
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just give Malaysia Income tax number will do.


 

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