actually need a Singapore bank a/c to credit my SREIT dividend(been losing too much money to CIMB admin fees lol $10/quarter).so it seems if you say you are interested in opening a Securities A/c,they will allow to open a bank a/c?
any minimum deposit?

yes im on cimb itrade sgd nominee a/c.i once asked Hong Leong Investment how much is their charge and its SGD6 + RM$10(not much of a difference)
yes you are correct,nominee a/c there will be sgd10 charge
so i am looking at the possibility of opening my own bank a/c in singapore,as well as a direct trading a/c and transfer over my current shares with CIMB to my own direct trading a/c(one time transfer fee applicable though $10.70 per 1000 shares but still better than $40 go to CIMB every year)

currently looking whether its possible to open an OCBC account.i went to Singapore few months back,only enquired at Standard Chartered but not OCBC

This post has been edited by ryan18: Jan 4 2015, 04:36 PM

Ops I forget to update managed to open a DBS account as I also intended to open a DBS vickers share trading. $3,000 balance otherwise $5 fall below fee per month.the good thing is it's a multiplier account and I can also keep other currencies like AUD which earns me 0.75% interest

i just opened one too at MBFC DBS in June
they wont let me open the normal savings a/c instead gave me a Multiplier account where you can deposit physical currencies of other countries and can convert them later to SGD(eg AUD balance earns 0.75%)

the reason i opened this account is to cut down on the CIMB dividend handling charge(before GST SGD10,after GST SGD10.60) from my single REIT holding

http://www.dbs.com.sg/personal/deposits/sa...-visa-debit-faq

DBS enhanced DBS Visa Debit card + multi currency savers account
Basically if you have foreign currency in your multi currency account you can use it for POS/online txn at no fees

Yes that is correct but if you already have foreign currency in the account it's free of charge


Are there any fees when I transact in foreign currency using my MCA-linked DBS Visa Debit Card?
There will not be any additional foreign currency conversion fees for your point-of-sale or online purchases.

so easy to open CIMB Fastsaver,now need to find RM 3k+ to fund this account within 30 days lol

yes I know that and I do have a DBS account

I have a DBS account but since that DBS account is not earning any interest might as well open another SG bank account to throw some excess RM and earn some interest (X3 in RM terms lol)

hmm i thought DBS doesnt allow non resident to open those cheaper (eSaver) accounts. (or the RM is trying to trick me when I open my account lol)
I do have a stock with a yield of 8.75% (at my purchase price at that time), so the main purpose of my DBS is just for dividend crediting for this stock

https://www.cimb.com.sg/en/personal/promoti...sfer-promo.html
CIMB SG having promo now saying they have the best exchange rate
Why compare rates at money changers and online remittance services when CIMB Bank guarantees you the best exchange rate for your online funds transfers from Singapore to Malaysia? On top of that, we ensure transfers are INSTANT, SAFE, have zero service charges and all ONLINE!

Find something better? We'll credit you the difference!