Welcome Guest ( Log In | Register )

3 Pages  1 2 3 >Bottom

Outline · [ Standard ] · Linear+

 How can a malaysian open a singapore bank account?

views
     
Ramjade
post Dec 18 2017, 08:30 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(steveraj @ Dec 18 2017, 08:20 AM)
Hi guys, was wondering if a malaysian who's not working in singapore and with no PR able to open a singapore bank account.

I read online that for POSB its quite straighforward to open an account. Has anyone done it ? Need some advice.

Also is it possible to open a bank account through online, without physically having to go to singapore ?

Thanks !
*
All information can be found here. If you turn up without student pass/working pass, they will usually reject you.
https://forum.lowyat.net/topic/1440794

Yes. It's entirely possible. Maybank is the only one which allow that without the need to be a priority customer. See honsiong reply. And that's also application by post. No banks let you do it via online for obvious reason.

QUOTE(honsiong @ Dec 18 2017, 08:24 AM)
Interesting. Last time I walked into POSB the aunty shooed me out.

So I went to Bangsar there to open Maybank iSavvy account instead. Maybank is actually not bad, just tak da Apple Pay.
*
Yes. Maybank works wonder for those who don't want to travel down. Also limited until this opportunity is close.

This post has been edited by Ramjade: Dec 18 2017, 08:31 AM
Ramjade
post Dec 18 2017, 10:31 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(duplicated @ Dec 18 2017, 10:21 AM)
I am planning to park my money there too but could not find a way to open an account. I do not want to repatriate money back to Malaysia from my foreign derived income.
*
Check the link given above. All info is in that link.
Ramjade
post Dec 18 2017, 10:53 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(steveraj @ Dec 18 2017, 10:17 AM)
Why lah so susah. I thought malaysian can easily open wan..
*
QUOTE(dupreehere @ Dec 18 2017, 10:38 AM)
Only for msians who pay income tax....
Either as employee or biz owners....
*
Not true. All info is in the link above. If you have the patience to read through everything biggrin.gif

ShinG3e, you are my sifu too rclxms.gif
Ramjade
post Dec 19 2017, 02:10 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(klthor @ Dec 19 2017, 11:58 AM)
hmmm.... so we do not need to go SG to open up a SG accounts?
*
Depends. You want also can. You don't want also can.
Don't want = open using maybank malaysia
Want= go for DBS, standard chartered
Ramjade
post Dec 20 2017, 12:40 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(klthor @ Dec 20 2017, 10:50 AM)
interesting, might need 1 in near future. gonna walk in to MBB branches in malaysia to ask smile.gif Thanks!
*
Not all MBB can do this application tongue.gif tongue.gif
Recommended you open one ASAP or else you will regret it when MBB decide to discontinue this program.

This post has been edited by Ramjade: Dec 20 2017, 01:46 PM
Ramjade
post Dec 20 2017, 04:09 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(OcHaa @ Dec 20 2017, 03:57 PM)
walk into maybank and open a Sg account?
*
Yes. Selected maybank branch only.
Of course all documents must bring as usually they don't have it with them.
Ramjade
post Dec 21 2017, 09:47 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(prince_mk @ Dec 21 2017, 08:57 PM)
Yes..try Maybank at Battery street (MRT Raffles Place) Good luck
*
Just use certain maybank branch in malaysia. No need to go down also
Ramjade
post Dec 21 2017, 11:22 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(eugene88 @ Dec 21 2017, 04:57 PM)
Student only, how?
*
QUOTE(ShinG3e @ Dec 21 2017, 11:05 PM)
oh... then no. cause they will ask for occupation lol
*
Can. I am living proof. Showed them my student ID to prove to them why I am not working.
Ramjade
post Dec 24 2017, 12:01 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(prince_mk @ Dec 24 2017, 11:50 AM)
what is d purpose of having sg savings acc ? mind sharing
*
Lol. Why are you asking this kind of question?
Ramjade
post Dec 25 2017, 11:57 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(duplicated @ Dec 25 2017, 10:29 AM)
Tax evasion from foreign investments.
*
Er you do know that Malaysia also don't tax your foreign income right?
Ramjade
post Dec 26 2017, 12:27 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(Zanmai0146 @ Dec 26 2017, 12:08 AM)
you mean can open an account in KL main branch?
i tried walk in into clementi MBB in Singapore but got rejected

may i know which branch and what documents need to prepare?
I have an average of 10k SGD investment returns every month or 2 months in average
*
Yes. If you try from SG site, confirm kena rejected. So the only way is to go from Malaysia site. All info is in previous link shared few post back.

Only certain Maybank branch in malaysia can do that. The form you need to fill up is maybank isavvy application form.

Google this
» Click to show Spoiler - click again to hide... «
. Look for the newest form. Print and fill up that form.

Ramjade
post Dec 26 2017, 12:54 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(Zanmai0146 @ Dec 26 2017, 12:38 AM)
Ok Thanks a lot. btw which branch? so i can withdraw SGD from MBBSG ATM and direct deduct from my account?

and most important if i deposit SGD from singapore, can direct credited in SGD account?

I tried OCBC MY but they required me to SGD>MYR>SGD which force me buy SGD from OCBC MY
*
I don't know which branch. The branches which process this application are listed at the back of the form.

Yes you can withdraw SGD and deposit SGD cash at Maybank SG ATM/CDM which will deduct/deposit from your account. It won't even touch your Malaysian account. Of course application takes like 1-2 months. 1 month if you follow up (call them). 2 months or more if you don't call them

Not true. If you are easily earning SGD10k/month, just open priority banking with OCBC MY then ask them to open priority banking with OCBC SG. Then you can also deposit and withdraw SGD cash from OCBC atm in SG. CCBC have more atms and branches than Maybank due to SG govt ruling (Maybank ATM must be at branch only and is restricted to 14 branch island wide). You can find OCBC atm/cdm everywhere.

Not to mention OCBC SG have a multi currency account, something which Maybank don't have. They let you withdraw/deposit foreign currency cash with 1% fee. If use cheque from SG, it's free. I highly don't recommend the multi currency account as that 1% fee on deposit and withdrawal is steep.

This post has been edited by Ramjade: Dec 26 2017, 12:57 AM
Ramjade
post Dec 26 2017, 07:16 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(Ramjade @ Dec 26 2017, 12:54 AM)
I don't know which branch. The branches which process this application are listed at the back of the form.

Yes you can withdraw SGD and deposit SGD cash at Maybank SG ATM/CDM which will deduct/deposit from your account. It won't even touch your Malaysian account. Of course application takes like 1-2 months. 1 month if you follow up (call them). 2 months or more if you don't call them

Not true. If you are easily earning SGD10k/month, just open priority banking with OCBC MY then ask them to open priority banking with OCBC SG. Then you can also deposit and withdraw SGD cash from OCBC atm in SG. CCBC have more atms and branches than Maybank due to SG govt ruling (Maybank ATM must be at branch only and is restricted to 14 branch island wide). You can find OCBC atm/cdm everywhere.

Not to mention OCBC SG have a multi currency account, something which Maybank don't have. They let you withdraw/deposit foreign currency cash with 1% fee. If use cheque from SG, it's free. I highly don't recommend the multi currency account as that 1% fee on deposit and withdrawal is steep.
*
QUOTE(huatken @ Dec 26 2017, 01:54 AM)
How long does it take from submission to account opening?
Thanks.
*
Answer is above.

Ramjade
post Dec 27 2017, 10:34 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(prince_mk @ Dec 27 2017, 07:21 PM)
Ramjade..if you open POSB savings..do you need to bank in initial deposit? or once open, i sent a letter requesting them to transfer the fund from DBS to POSB ?

thanks
*
Application all online. It's all there. I applied first for Posb eEveryday Savers. Transfered SGD500 from my multiplier account (make sure multiplier got SGD3500 beforehand) first on the same day of opening to prevent them from
charging me. Once open, contact customer service via account inbox to ask how to close from Malaysia, send official form (obtained from customer service) to close my DBS multiplier with instructions in the form to transfer out the remaining SGD3000 to POSB account and then it was put to good use. biggrin.gif

This post has been edited by Ramjade: Dec 27 2017, 11:27 PM
Ramjade
post Dec 27 2017, 11:31 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(prince_mk @ Dec 27 2017, 07:07 PM)
just see what other opportunities can I get in Sg. :0
*
Transfer out your FSM MY & SG to POEMS SG. What for you want to continue paying service charge + platform fees?
Ramjade
post Dec 28 2017, 05:29 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(jack2 @ Dec 28 2017, 12:41 AM)
Can open USD account through online as well or just SGD?
*
Of course cannot. DBS, OCBC and UOB have their own multucurrency account which support USD. Again not recommended as it's hard to transect online. You are better off with transferwise multi currency account.

This post has been edited by Ramjade: Dec 28 2017, 05:29 AM
Ramjade
post Dec 28 2017, 06:55 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(jack2 @ Dec 28 2017, 06:38 AM)
Need to transact online. Malaysia punya USD account (Maybank, UOB) can't perform remittance using online and need to go over counter. I am looking for this feature.
*
That's why ask you to go open transferwise online account. Siap with swift code some more. Then use moneymatch to fund it.
Ramjade
post Dec 28 2017, 07:58 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(jack2 @ Dec 28 2017, 07:51 AM)
I have UOB MY with USD account. Can I transer my USD to there?

*It seems can't work as if using transfwise, it is not under my name"
*
That you need to explore and research yourself as I can't help you.
Ramjade
post Dec 28 2017, 08:41 AM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(Mattrock @ Dec 28 2017, 07:59 AM)
One question to all you guys with bank accounts an trading accounts in Singapore. If you die, and it is not joint account, how will your relatives in Malaysia get your money back from there? Have you guys written a Will? I heard Malaysian Will is not valid in Singapore. So a Singapore Will may be required, or problem later as no Singapore Executor.

Just wondering if any of you have found a solution......
*
It's valid. You can ask the brokers on how to get the money out as a foreigner. They will tell you the steps. Worse come to worse, just do a Singapore will la. It's cheap. Only about SGD100+ (NTUC)

This post has been edited by Ramjade: Dec 28 2017, 08:42 AM
Ramjade
post Dec 28 2017, 12:34 PM

20k VIP Club
*********
All Stars
24,407 posts

Joined: Feb 2011


QUOTE(prince_mk @ Dec 28 2017, 12:32 PM)
Oic. Sound interesting. I will do one soon.
*
Ask elea. She expert at it.

3 Pages  1 2 3 >Top
 

Change to:
| Lo-Fi Version
0.0219sec    1.09    6 queries    GZIP Disabled
Time is now: 17th December 2025 - 10:39 AM