I saw some of you guys talking about transferring CIMBMY to CIMBSG, are you guys talking about this promo? If it is the zero service fees permanent ah?

https://www.cimbbank.com.sg/en/personal/new...sfer-promo.html

Now I contemplating if I should use the method above or just buka MBB SG acc and then instarem SGD over since I’m an existing MBB user

Read finish. Valid until June

Ouh, missed that😅 if normally without promo, how much is the remittance fee?

How should i go about this as a Malaysian? i read in one of the previous post that, i should get my SG friend to deposit the money to the IBKR address, and through that it will be a spot currency exchange SGD -> USD?

Can anyone help.
Need help clarifying the steps i need to take to deposit USD into my IBKR account.
Also, are there any other whitelabels for IBKR besides TradeStation Global? or TradeStation Global is pretty much the best option for IBKR whitelabel

Thanks much guys

No friend needed.
Assuming you have CIMB in M'sia, open a CIMB SG (SGD) [please refer to the other thread about opening bank acc in SG].
Transfer money from CIMB M'sia to CIMB SGD, then transfer SGD to IBKR. Then exchange to USD using IBKR.

Captrader.

Not sure but earlier I converted SGD to MYR using CIMB SG. XE.com quoted 3.03 but CIMB gave 3.01.
So around 0.8% loss.

Do you desperately need to deposit USD?
You can just Instarem MYR by converting into SGD or EUR to IBKR. Then, use IBKR's currency converter to convert SGD/EUR to USD.

earlier? you mean today? now it's 3.05 ....

Yup. Oh I lost a bit. ;/

I don't have a PR/any visa with Singapore Checked the condition seems need these to open the account in Singapore.

With that seems alternative is direct TT from CIMB MY account ?

Ya, apparently T & C changed. Need to have work permit, etc to open CIMB Sg now.

Open both. The promo is low rates, no fees. Once promo over you pay more. The thing is they always extend this promo.

They have been extending it for 2 years+

You cannot get your friend to deposit. Deposit must come from your own bank with your own name.

Open account with them. Use Cimb MY to do a one time TT of SGD1k. If they close this hole, then good luck. You need to go down there yourself.

This post has been edited by Ramjade: Mar 22 2020, 10:16 AM

have a look at the thread regarding opening a bank account in SG.

most of us don't have a PR or any visa in SG. Regardless what the T&C say, we still submitted our application and it worked.
I understand your concern. When I opened mine, I thought I wasn't eligible too. Just ignore the T&C.

Constantly changing sgd to usd via ibkr. Sgd will be going down even more coming weeks.

Partial lockdown starting monday 11.59pm. No more entry for short term visitors

meaning, it'll be cheaper to buy SGD using MYR next week?

Ideally, if its still possible would be to set up a CIMB SG account from my current CIMB MY account, then just transfer MYR over & converted to SGD then spot exchange with IBKR for the deposit?

CIMB MY/SG VS Instarem, which do you guys feel its better?

It works for both ways no? Singaporeans don't visit Malaysia and Malaysians don't visit Singapore.
MYR likely depreciate further because people rather invest in Singapore equities, so they sell Malaysian stock, convert to SGD and buy Singapore equities.

Don't think so.

This post has been edited by Yggdrasil: Mar 22 2020, 07:45 PM

Give it a try ....

most of the time InstaRem but sometimes, maybe CIMB MY?

sometimes BigPay also gives a good rate.

By using BigPay or InstaREM to make deposit for IBKR, which payment option do i select? Is it 'Connect your Bank Account' / 'Bank Wire' , can anyone help with this