Can we withdraw from IBKR to TW then to MY bank?

I see so many members here talking about CIMB SG. How did you guys manage to open CIMB SG bank account?

Any CIMB MY members can open?

Hah! Now I know why you suggested to open an SG bank account earlier. Which SG fintech to use if transfer money back from Maybank SG isavvy account to Maybank Malaysia account?

(A bit off-topic, but just 1 question.)

search CIMB and you will get the answer...

its same as maybank....

Unfortunately to open you need a work permit etc. I called the hotline and they said CIMB Malaysia can only link if you already have a SG account. Otherwise you can go the CIMB Preferred route but you need 250k to even begin lol

https://www.cimbbank.com.sg/en/personal/pro...er-account.html

where does it say you need work permit ?

Document(s) Required

For Singaporeans/PRs and Malaysians -
NRIC
Proof of residential address if the residential address in the application differs from ID document (e.g. any latest telephone bill, bank statement or letter issued by the government)

Just open CIMB My. then open CIMB SG

If only you bother reading the thread, you will know that it's possible to open the account without work permit.

For me bank account is very important. If I go overseas say Europe or UK, I will want to opena free account upon landing. After using sg bank account I come to appreciate how important overseas bank account is.

TransferWise is the only one which allow you to open account. If you have Singapore sunglass, can try singx, instarem sg, world first. I know they have some of the company best rate. Cheaper than ttansferwise.

CIMB sg and TW is more or less on par with CIMB sg sometimes being cheaper (the cheap rates is a promo not a permanent feature but they keep extending the promo)

Oops after some forum digging i found the thread to open SG bank account remotely. Here's the link for newbies like me: https://forum.lowyat.net/topic/1440794/+2740&#entry96963101

(save some newbies time and scolding, later kena shoot by all the old bird in this thread lol)

Hi, i am newbie to apply IBKR. Seeking kindness advice from anyone here about:
1) what is it means of Notarized Document to upload?
2) The fund your account is it a must to pump in the fund? and if i am planning to trade for HK stocks market first, the currency of deposit should I choose HKD better?
BTW, I am planning to transfer the fund via maybank

Thank you very much in advance!

You opened IBKR first without going through TSG, right? If it says different entities, then you need to re-do everything, ie go through TSG website to open an account with IBKR. They will redirect you to an IBKR website.

If it says different entities, it means you can't link your ibkr to TSG. You've opened a different IBKR, not the one approved by TSG.

I tried last Friday, will report my findings later this week.

Use transferwise.

It's nice that you called the hotline to confirm ....

but I just want to say that, most if not all of us here are not working in a bank. What we posted here is what we have experienced, regardless of what a website, a customer service officer or a bank officer may say. Most of the time, when it comes to very specific questions that are not written black and white on the internet, I find internet users are more reliable because they have been through the process, whereas the customer support would usually be MCC mong cha cha.

Sometimes you see things like, "You're supposed to do/have A, B, C, ......" and even so, ppl went through without doing or having A, B, C.
Another example, IBKR doesn't encourage us to transfer money using fintech and yet we still do it. One guy even did it with BigPay.

so you can understand sometimes ppl feel tired explaining. Sometimes I said something, then someone said, not written on the website. Then I've to play the sure-win card, "I talked to ibkr and they told me so!" It's ok once in a while but sometimes I feel like giving up. Let them explore themselves.

Anyway, if you have other questions, feel free to post them here. We'll reply based on our experience.


1) Means your documents need to be certified by a notary public, but I don't remember going through this step.

2) I don't understand your question, what pump in fund???
Must deposit to activate the acc la.... can't open it and let it have zero balance for 10 years right?
The base currency doesn't matter. You can deposit in any international currencies.

Well said! Thanks

Thanks for the good info!

I have no experience to use IBKR yet. When the SGD currency reach IBKR, how do I trade US & HK stocks concurrently? Any additional step to convert SGD to USD or HKD prior trading?

Read this
https://forum.lowyat.net/index.php?act=findpost&pid=92207301

Go watch YouTube. They have few tutorial on how to use IB on YouTube.

This post has been edited by Ramjade: Jun 1 2020, 08:09 AM

Thank you ramjade! Looks like with a heavy heart, I might just have to open the CIMB SG Account.

I did see moosset is experimenting on withdrawing straight from IBKR to MY bank via TransferWise. maybe i'll wait and see, haha.

Anyone used BigPay direct to IBKR? Or to CIMB SG?

Their FAQ at https://www.bigpayme.com/faq-bank-transfer says

International Bank Transfers
This depends on where you're sending to. You can easily find out the cost of your transfer directly in your BigPay app. From Payments, tap International Bank Transfers, choose where you're sending to, enter an amount and we'll show you the fee.

Anyone knows what the limit is for either of the case before?

Great man! Feel thankful to all your replies! Appreciate a lot!

A lot of IBKR tutorials available. You can also sign up for free webinar seminars etc. They also upload videos to youtube, written articles also available.

If you trade US stocks, you exchange your money to USD.
If you trade HK stocks, you exchange your money to HKD.

If you're on a margin acc, can choose not to exchange and pay interest.

Just open as many bank accounts as possible. There's all to gain, nothing to use. If possible, at least 1 acc in all countries!

I'm withdrawing money to TW, not Malaysia.
Anyway, if it works to move it to TW, by right should have no problem transferring the balance to Malaysia.

Yes I used BigPay to transfer direct to IBKR in SGD, it works fine. I did it with a small amount to try first and then transferred a larger sum after. Refer to my post #1024 on page 52 https://forum.lowyat.net/topic/4843925/+1020

the limit is 20k RM a month I think

Thanks, you're using CIMB SG or MBB SG?