QUOTE(Solskjaer66 @ Nov 2 2020, 06:08 PM)
Thanks for the advice... yes i saw the CIMB SG waiver notice....if i not mistaken they waive it til Dec end? What happen if they apply the transfer fees again next year, do you know how much CIMB SG will normally charge for this fees?
I don't really mind the min. SGD 500 ..... just consider it as saving in SGD.... and i plan to invest in US market for very long time.... surely i will always keep some amount of SGD in the account....
i can see all highly recommended CIMB SG.. i no doubt about that..... just that u know lah... the current CMCO situation.... always long q outside the bank.... i am just lazy to q i admit it!
but i guess i don't have a choice now... i really don't want to wait for 3 months... i will need to tell maybank to put my application on hold tomorrow.... let me go CIMB see see 1st...
I don't recall any waiver ending. The waiver for inward remittance is still ongoing. Perhaps you are referring to the currency conversion waiver? You can still use Transferwise for good rates.
It is okay to have a Maybank SG account, but always bear in mind that IBKR does not support FAST transfer to Maybank SG. The only way to withdraw out of IBKR is TT.
So, never withdraw a single cent to Maybank SG. For now, use CIMB SG. For remittance from bank to IBKR, either banks are ok since they both support FAST.
Application for CIMB SG can be done online. Not as tedious and cumbersome as Maybank SG.
You can look for CIMB SG Fastsaver account here:
https://www.cimb.com.sg/en/personal/banking...er-account.htmlAnd the fees and charges:
https://www.cimb.com.sg/en/personal/help-su...es-charges.html Note that both Maybank SG and CIMB SG support FAST, so if anything go for CIMB SG for now.
The only thing is that if you deposit less than 1k SGD in CIMB Fastsaver, you lose the interest of 0.3% but Maybank pays you about 0.19% for a minimum requirement of 500 SGD.
But in a world of low interest rate and for small capital, it really does not make much difference. It's the ease and flexibility that matters.
This post has been edited by TOS: Nov 2 2020, 07:54 PM