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 Opening a Bank Account in Singapore

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woonsc
post Jun 21 2019, 12:24 PM

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QUOTE(coolguy99 @ Jun 21 2019, 10:36 AM)
Most of the people here go for either Maybank iSavvy or CIMB account.
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Living in Sg? Or just to transfer from MY to SG.

What if working there? Which will be good?
woonsc
post Jun 21 2019, 04:45 PM

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QUOTE(coolguy99 @ Jun 21 2019, 01:08 PM)
If you are working there you don't need to be in this thread haha.

If you have EP, you can open an account in any banks in SG.
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Best bank in SG thread mana
woonsc
post Aug 6 2019, 04:03 PM

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Btw, I am working in SG.

Malaysians can open a DBS multiplier account, mo deposit and can mail to Malaysia. You guys should try.
woonsc
post Aug 10 2019, 01:21 PM

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QUOTE(prince_mk @ Aug 10 2019, 12:51 PM)
yes good idea too. but got to maintain min amt at least of sgd3k. else fall below fee will be levied on your acc.
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Really? I didn't know. You need to have minimum 3k.
Let me check it and update
woonsc
post Aug 10 2019, 01:35 PM

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QUOTE(prince_mk @ Aug 10 2019, 01:28 PM)
I have this acc and converted to posb acc last 2 years ago. thank god. now just maintain sgd500 only.
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How to convert
woonsc
post Sep 15 2019, 04:49 PM

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QUOTE(Ramjade @ Sep 15 2019, 12:31 PM)
Is my choice to transfer money. I never rushed any other service than instarem. Used to use moneymatch until realised moneymatch more expensive.

Way cheaper than banks, fast (same day if you transfer in the am), reliable. Amount displayed = amount received. Won't be single sen less. Highly recommend. thumbup.gif
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I am signing up for CIMB MY link with CIMB SG.
Dunno if rates will be better.

SG to MY linked, best rates.
woonsc
post Sep 15 2019, 07:57 PM

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QUOTE(lwlim @ Sep 15 2019, 06:31 PM)
Actually Malaysian still can open Fastsaver account at CIMB SG, because I just did it.
If transfer from CIMB MY to CIMB SG, the cost will be much higher compared to Instarem.
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innocent.gif I see, I thought will be better also.. hmmm..
thanks btw.. bruce.gif
woonsc
post Oct 21 2019, 09:40 PM

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QUOTE(coolguy99 @ Oct 21 2019, 07:05 PM)
3.04 for SGD to MYR in the money exchange yesterday. It was 3.01 for the past weeks.
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3.07 on cimb SG to climb my
woonsc
post Oct 24 2019, 07:09 AM

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I wanna ask, is Standard Chartered Trading Account good?
I just opened, and compared to dbs.
10.70 SGD per trade.

This post has been edited by woonsc: Oct 24 2019, 07:10 AM
woonsc
post Nov 5 2019, 08:01 AM

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QUOTE(kart @ Nov 5 2019, 04:48 AM)
I think that Hansel and Ramjade posted several ways to park idle SGD money, in previous posts.

I am not sure whether it is still applicable as of now. So, please perform due diligence, before parking your idle SGD money. 

Hansel's suggestion:
- Astrea IV4.35%B280614# Bond (SGX Stock Code: RMRB)
- Astrea V Retail PE Bond
Ramjade's suggestion:
- CIMB Fastsaver Savings Account, 1% for balance above SGD 1000. There's no penalty if money dips below SGD1000. No monthly service charge.
- Citibank maxigain (if you got the moo and able to open account) 2%+
- United Class A bond fund 2-3%
- Parkway 4%
- PIMCO GIS Income Fund Class E SGD Hedged Bond Fund, ISIN: IE00B9HH6X13, 5-7%
Many of us here are using CIMB Fastsaver Savings Account, due to the ease of getting 1% annual interest. It is definitely much better than 0.05 % of annual interest given by DBS, OCBC and other banks in Singapore.
Other method is to park in Singapore Savings Bonds, which is fully backed by the Singapore Government.
- The annual interest is slightly less than 2%.
- You could say that it behaves somewhat similar to the promotional Fixed Deposit offered by Singapore banks, but it only requires minimum investment amount of SGD 500, instead of SGD 10000 required for promotional Fixed Deposit.
- There is SGD 2 non-refundable transaction fee for each application.
- There is a redemption penalty of SGD 2, if you choose to redeem before its 10-year maturity.

Correct me, if I say anything incorrect.  smile.gif I am just sharing what I have learnt from many experts here.
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If you're young, open a SC Jumpstart account for easy 2%
woonsc
post Jan 11 2020, 07:13 AM

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QUOTE(jack2 @ Jan 10 2020, 12:40 PM)
CIMB sg no more good rate. Who wants SGD, can ask me
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Still closer to market rates then money changer.
Hope they keep it up.
woonsc
post Jan 11 2020, 04:25 PM

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QUOTE(aspartame @ Jan 11 2020, 02:15 PM)
For CIMB , changing from RM to SGD, they give better rates than money changer? Even at money changer rates very good already..... most Malaysian banks charge 1% to 2% higher thN money changer ... can you confirm?
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tongue.gif SGD to MYR.
I changed yesterday at 3.020
I went to JB see changer giving out 3.012

PM if want change brows.gif best rates

 

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