Aug 16 2015, 03:00 PM
QUOTE(jex-koi @ Feb 28 2013, 03:25 PM)
Yes, you are correct. No deposit is required when opening the account. Only deposit $ after acc is opened.
But you need to maintain a (average) balance of SGD 5k, else they will charge SGD2 per month (Translates to ~ RM 5 a month).
For a country well known for their financial instruments, this rule is kinda dumb.. But you need to maintain a (average) balance of SGD 5k, else they will charge SGD2 per month (Translates to ~ RM 5 a month).
It costs $24sgd a year to keep the account, that 5k invested into stock market will give you returns capable of covering this cost.. Why park the cash there? Better to reinvest it.
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