Yea man.

I think i replied to your post one to two weeks ago isnt?

Now im interested to know whether new EP holder can opt the basic savings acc or not.

Unless, go with Posb...hmmm....

Of coz, last time i am on ep, also opem basic saving acct with posb

Government, banks and telco services here their process kept changing over the years

That's why I no longer want to provide any advise related to those since my own experience consuming those services are donkey years ago

Missed some repayment should be ok. Check possibility of fraud due to big debt or conflict of interest only. Last time got declare all the assets including overseas for my case, parents', after married husband and baby one also need. If work for gahmen investment arm more die maybe check till ancestors 18 generations.

ok, i did not know about POSB because i did not try.

Only with DBS, i tried they dont allow me to open the basic type.

They insist on EP can only open the Multiple Currency type Savings acc...

For this i have checked with two DBS branches...They tell the same...

This post has been edited by ldhong: Jul 14 2016, 03:19 PM

Well u should definitely open with posb , dbs and posb basically same bank, both atm can be used for either atm card

But my acct with posb is 6 yrs ago, so dun knw whether same rules onot now.....

Posb / dbs sure good if u dun mind low interest acct and long q at atm

they asked me to declare whether i m in the state of indebtedness. include -" repayments under any secured loan or hire purchase agreement overdue by more than 3 months. "

and to my knowledge . A secured loan, is a loan in which the borrower pledges some asset (e.g. a car or property) as collateral for the loan, which then becomes a secured debt owed to the creditor who gives the loan.

PTPTN is not under secured. it uses guarantor which are my parents.

Another bank i tried is OCBC 360 that one requires initial deposit $1000 and low monthly charges $2 but i not sure how convenience to remit to Malaysia.

In the end, I opted for DBS because easier to remit.

Thanks for enlighting...

i budak baru sampai only ...

Well, $1000 is easy to maintain, so $2 is avoiable

Normally outside money changer remittance will gv u much better rate and no service charge if above certain amount, just save some money in ur ocbc360 , while earning good interest, and change it one lum sum with the money changer when it reaches tat amount.


Edit

To add on i remember posb/dbs new acct now oso need to maintain $1k min, else got monthly charge ? Mot sure when i heard it from

This post has been edited by huaweie5830: Jul 14 2016, 03:37 PM

You might want to read post 552

For DBS Multiplier account the interest is higher compared to the rest of the basic savings acc.

Only things, that i not happy when DBs officer told me EP holder cannot opt for basic savings acc can only open Multipier Acc. The requirement is monthly must have $3000 savings if fall below will have $5 reduction fee.

For the requirement of the Dbs basic savings acc im not sure because they dont allow me in the first place.

You are right on the money changer part. Many said go to raffles place change if one lump sum...otherwise small amount remit through dbs

Next day report to work and company made appointment for thumb print on the third day.

This . You need the appointment letter to start working . It will let you work for one month in the process of getting work pass . I think those letter write clear enough .

Isn't the notification letter basically the IPA?

I started work in May 2015 after the date you stated, did not get anything other than IPA, then straight to MOM office for EP application (during first week of work)

Edit: I remember now, its a letter you get when you set an appointment date with MOM for EP application
You get that pretty much on the same day that your company does that for you

This post has been edited by KilJim: Jul 14 2016, 06:51 PM

whats the difference between basic, and multiple currency savings?

Morning! Aye, SGD seems to be sliding a bit against the MYR, but it's a cyclical temporary thing I hope. Hang on to your SGDs lol.

Guys. I plan to rent a room in tampines or Pasir Ris. Any opinion on these two areas. Thanks

Yeah so sad

Basic is just basic savings acc lo... Multiple Currency you can save in different foreign currency... Interest rates is also higher than basic savings account but the requirement is need to have sufficient amount of money inside every month else fall below fees will be imposed.

Two branches of DBS straight say EP holder cannot open basic savings acc only cater for S-Pass or work permit holder....According to them new ruling standardized across all DBS branch.

I did not even have a chance to open basic savings acc so i don't know what is their initial deposit and requirement.

Anyway, good to those who already opened earlier.

Right now i really agree with those seniors here, SG is constantly changing rules....

Would a SG tech/video game company hire a law graduate from Malaysia (assume that he is looking for permanent or full time)?

It's average daily balance > $1,000

My acc also have limitation of max ATM withdrawal of 4 times per month, anything more also $2 charge.