Welcome Guest ( Log In | Register )

Bump Topic Add Reply RSS Feed

Outline · [ Standard ] · Linear+

 How can a malaysian open a singapore bank account?

views
     
jack2
post Dec 28 2017, 12:41 AM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 27 2017, 10:34 PM)
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
*
Can open USD account through online as well or just SGD?
jack2
post Dec 28 2017, 12:49 AM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
Anyone success to open USD account with Maybank SG or CIMB SG after having the saving accounts?
jack2
post Dec 28 2017, 06:38 AM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(apathen @ Dec 28 2017, 04:05 AM)
what do you plan to do with the usd account? maybank sg usd account kinda useless because can't transact online.
*
QUOTE(Ramjade @ Dec 28 2017, 05:29 AM)
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.
*
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.
jack2
post Dec 28 2017, 07:51 AM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 06:55 AM)
That's why ask you to go open transferwise online account. Siap with swift code some more. Then use moneymatch to fund it.
*
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"

This post has been edited by jack2: Dec 28 2017, 07:56 AM
jack2
post Dec 28 2017, 12:45 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
i went to UOB bank to remit my USD fund into crypto exchange and they refused to remit for me with the reason that the company/exchange is related to bitcoin which is prohibited.

Damn...
jack2
post Dec 28 2017, 01:04 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 12:56 PM)
Just use moneymatch la. doh.gif doh.gif don't know why you are using banks when moneymatch give better rate.
*
How to use moneymatch? The exchange must get the money from bank account which is under the same name.

Moneymatch - how to do so?
jack2
post Dec 28 2017, 02:04 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 01:44 PM)
You ask moneymatch and see if they can solve your problem.  Or ask your exchange. I don't believe they are so rigid. As long as you input all the details + give softcopy of transaction to your exchange,  should be no problem. Otherwise, your best bet is go SG and try open one of their multucurrency account. Use moneymatch to convert RM > USD straight into the multucurrency account. Then from there do a online TT as shown in this 2 people screenshot.
http://thesleepydevil.blogspot.com/2017/11...rt-4-guide.html
http://gotmoneygothoney.blogspot.com/2017/...nge-part-1.html

The downside,  SGD3k is stuck inside there. If you have less than that,  you will be charged SGD2-7.5/month (depending on which bank and which account you have)
*
open with POSB?
jack2
post Dec 28 2017, 02:13 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 02:08 PM)
Yes. To be precise DBS multucurrency/multiplier.  But this one you really have to travel down to HQ. No shortcut of using relationship manager from Malaysia/filling up form from Malaysia. Unless you want to have priority banking with DBS then should be easy.

There might be a shortcut. Priority banking with OCBC MY,  then ask them to open a priority banking with OCBC SG (global savings account) you are not required to maintain a min amount inside unlike DBS. But don't know if OCBC SG let you do online TT using USD.
*
I confirmed with CIMB SG. Even you have USD account, you cant do remittance over net. Only SGD.

Another way is, use money match to fund CIMB SGD, use SGD to remit USD (convert it) and remit USD... This is possible,

DBS multicurrency can remit USD out from USD FCA?
jack2
post Dec 28 2017, 05:12 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 02:08 PM)
Yes. To be precise DBS multucurrency/multiplier.  But this one you really have to travel down to HQ. No shortcut of using relationship manager from Malaysia/filling up form from Malaysia. Unless you want to have priority banking with DBS then should be easy.

There might be a shortcut. Priority banking with OCBC MY,  then ask them to open a priority banking with OCBC SG (global savings account) you are not required to maintain a min amount inside unlike DBS. But don't know if OCBC SG let you do online TT using USD.
*
OK, thanks. I have read the blog. Sound good.

Are you sure if I travel to HQ and able to apply? I clicked online application and the requirement for Malaysian is must have work permit.

https://www.dbs.com.sg/personal/deposits/sa...rrency-autosave
jack2
post Dec 28 2017, 06:15 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 06:10 PM)
Online memang said that. However not really true.
This one no guarantees. Last time I went was end of last year or early this year. That was also they very reluctant to open for me. Nowadays they don't want us already

You might need to convince them/tell them you also want to open DBS vickers account then only they let you have account. Bring all documentation. Income tax, proof of address. Avoid telling them about crypto as banks usually want to avoid trouble so they can reject you upfront if you mentioned anything  to do with crypto. Again no guarantees.

Good luck.
*
Must go HQ?

What is Vickers account for?

May be I tell them I wanna put USD fixed deposit $30k

This post has been edited by jack2: Dec 28 2017, 06:16 PM
jack2
post Dec 28 2017, 06:30 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 06:27 PM)
Yes.  Normal branch sure kena rejected. This one is confirm.
Vickers is stock broker. 
Yeah. If you can produce a USD 30k cheque on the spot. Should be no problem.
*
If no choice I have to use FD reason but will they allow me to have MCA?

If Vickers I'd good choice already, then I won't use FD as I need to do banker cheque from uob and bring it there.
jack2
post Dec 28 2017, 07:13 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 06:41 PM)
You need to tell them you want a DBS MCA/multiplier account as you want to trade overseas stock. That's why you want a DBS vickers account.
*
So must tell them I wanna trade oversea stocks so wanna open Vickers.

Then I need DBS MCA?

How much is the minimum as I need to prepare bankers cheque
jack2
post Dec 28 2017, 07:29 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Dec 28 2017, 07:19 PM)
SGD3k to open account which cannot be withdraw unless you are willing to pay the monthly charges. But it's peanuts for those in crypto tongue.gif

If use Malaysian banker cheque,  I think got extra charge.  Not sure about it especially USD.

To fund it,
1) deposit your USD banker cheque once account opened. If you can deposit USD30k cheque,  no need to deposit SGD3k. This is because min amount in the account must be = SGD3k worth in foreign currency.
2) Ask moneymatch if they can do a USD transfer to SG, if can then deposit SGD3k in cash,  then use moneymatch to transfer your USD. I am not sure if your USD is already in USD or RM. If in USD already,  then pick option 1.
*
Many thanks.

If there is no requirement for USD deposit amount, then I will deposit SGD3k first. I have CIMB/MBB online and can I do FAST transfer on the spot upon the SGD account is opened?
jack2
post Jan 2 2018, 04:42 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Zanmai0146 @ Jan 2 2018, 04:08 PM)
Bro, your isavvy account you submit the form at Malaysia Maybank or Singapore Maybank.

I walk into the branch this afternoon they ask me to, sent the documents to Singapore Maybank and went to Singapore they ask me to go home. Can’t open.

Can assist me? Thanks
*
Haha.. go home ba
jack2
post Jan 2 2018, 05:02 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Jan 2 2018, 04:53 PM)
Of course from Malaysia. Did you download and fill up all the forms?  Did you photostat all required documents?  Did you get your SGD banker's cheque ready? Did you go to the correct branch?

Or did you just walk into any maybank branch empty handed and ask them to open for you?
*
I think he didn't read properly the instructions.

BTW, I am still waiting DBS to say yes before I fly to Singapore.
jack2
post Jan 2 2018, 07:09 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Jan 2 2018, 05:10 PM)
You need to visit the correct branch. A priority customer branch obviously won't do for non priority customer.  PWC,  PWL are all for priority banking customer. I don't know if you hold a priority customer status with maybank or not. 
Either that, or maybank is starting to close their doors too or the officer is being lazy.

No need to wait. Just fly down. Official answer is if you are not a student, not working in SG, you cannot open. How I know? I emailed them before. It's MAS new ruling which make it harder for Malaysians to open account (the DBS bank officer told me). Especially Malaysians. I still think HQ still can open but I don't know what is the success rate now vs my time.
*
I have just received the reply

Do take note of the documents(in English) which are required for account opening.

1. Identification card (if applicable)
2. Passport (with at least 6 months to expiry)
3. Work permit/Employment pass/Student Pass (If applicable)
4. Recent bank statement (Name & Residential address printed)
5. Latest Government issued tax document (with Tin (Tax) Number)

Our team of Equity Business Managers will assist you with your queries and account related matters,
Do kindly indicate an account without dealer/remisier on the application forms so that we may continue to service your account.

Please note that account opening is subject to approval.

When was your time to apply?
jack2
post Jan 2 2018, 07:25 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Jan 2 2018, 07:17 PM)
2016 December. Woah. Equity business managers. Good luck.  They think you want to open a business account. Be prepared to be charged yearly/monthly fees. I don't know what you told them but you should tell them you want to open DBS multiplier account with DBS vickers.
*
1 year nia.

No lah. I told them this

I intend to open DBSV (Cash Online Account) so I can trade in different currencies in different markets.

Then they asked this

Yes, the address you mentioned is where our DBS Vickers customer service office is locationed.

To better advise on account opening,

May we have the following information so that we may assist you better.

Citizenship/PR of Singapore: NA
Please indicate nationality if not a Singapore citizen: Malaysian
Country of residence: Malaysia
Do you intend to trade in Singapore securities? Yes and oversea
Do you have a CDP account? No, other than Malaysia security CDP
Do you have a banking relationship with Singapore DBS/POSB? No.
Are you above the age of 21years old? Yes
Do you intend to open an individual or joint trading account? Individual
Is Singapore your sole tax residency? No. I am Malaysia tax residents.

Mana tahu they replied this
jack2
post Jan 2 2018, 07:33 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Jan 2 2018, 07:30 PM)
Nevermind. Just print out this reply. When you reach their HQ,  tell them you want to open DBS vickers and DBS multiplier account. Waiting time is bloody long (so much for SG being modern and fast).

And see if you are lucky.
*
Would they ask you the reason why you wanna trade in Singapore?

And your employment? Can I state I am freelancer or youngster with earlier retirement? wekekekeke
jack2
post Jan 3 2018, 06:05 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(gark @ Jan 3 2018, 05:47 PM)
Last time they asked me this question, I told them SGD is more stable to keep my asset compared to MYR.  biggrin.gif
*
So did they allow you to open account?

About the share trading account, can we trade oversea market like Facebook, McDonald's Intel?
jack2
post Jan 3 2018, 07:07 PM

Mr
********
All Stars
15,192 posts

Joined: Oct 2004
QUOTE(Ramjade @ Jan 3 2018, 06:13 PM)
During his time (2008 in depth of crisis), he just walk into the branch with his Malaysian IC and they welcome him with open arms  laugh.gif
Now different story.

DBS vickers is not one of the best platform to trade overseas stocks. Dividend fees + maintenance fee + expensive commission.
https://www.dbs.com.sg/vickers/en/resources...rges-commission
https://www.dbs.com.sg/vickers/en/pricing/f...gapore-accounts
*
After I opened, then I didn't trade. What are the consequences? Hehe
« Next Oldest · Finance, Business and Investment House · Next Newest »
 

2 Pages  1 2 >Top
Add ReplyOptions
 

Change to:
| Lo-Fi Version
 0.0192sec    0.55    6 queries    GZIP Disabled
Time is now: 18th December 2025 - 03:51 PM
All Rights Reserved © 2002- 2025 Vijandren Ramadass (~unite against racism~)
Removal Request
Powered by Invision Power Board © 2025  IPS, Inc.