Ah, you mean open without pass. Ok ok.

Without pass, choice is indeed limited, only aware of CIMB SG and Maybank SG, same situation as opening a bank account in SG.

SC requirements as below:

If you are a foreigner, please prepare:

Passport (front & back) - at least 6 months validity
Plus, any of the following as residential proof:

Latest utility or telecommunications bill
Latest bank or credit card statement
Tenancy agreement
Letter from employer
Government-issued documents stating address (e.g. IRAS, CPF, ICA)

At the end of the day easier to use SingPass or MyInfo 🤦‍♀️

OCBC "restarted" offering CPF OA FD for a few weeks, then stopped again... quietly stopped some more...

https://forums.hardwarezone.com.sg/threads/...#post-147413868

Really chinaman bank style...

Source: pclow59/HWZ, 联合早报

This post has been edited by TOS: May 5 2023, 01:22 PM

HK overnight HIBOR spiked to 4.81% p.a. yesterday, a 16-year high. HKD liquidity tightening.

Small-medium banks all upped their short-term FD rates.

Even virtual banks followed suit. PAOB 3-month FD rate raised to 3.7%, upped 50 basis points. Welab's rate upped 110 basis points to 3.6% p.a.

https://finance.mingpao.com/fin/daily/20230...%a9%ba%e9%96%93

Good for FD enthusiasts.

Bad for MNACT & Mapletree Logistics Trust.

The borrowing cost is really a huge thing to a REIT. I looked closely at the Cromwell Euro REIT presentation slides for 1QFY23 just now....

I'm with OCBC, bro,... DBS too.

UOB 6-month and 12-month deposit rates drop to 3.1% p.a. Min fresh fund 10k SGD.

Sourced from lzydata/HWZ.

HKD and USD promo FDs for HK banks:



Sourced from 香港明报 Money Monday 220523.

FIVE PERCENT?? Damn, how to sign up as Malaysian? 🤤

lol those promo FDs are meant for new users/fresh funds only. The starting amount isn't small either. 10k-30k USD in some cases.

You will need a HK address and HK identity card to open an account at most HK banks. For banks which require online account opening, their apps may not be available at other jurisdictions like Malaysia (i.e., you need to connect to HK VPN of fly to HK and connect to Internet there for the app to be shown on your phone's app store).

For those who are thinking of investing in foreign currency FD and don't mind doing so in the domestic banks, I think RHB MCA account is really a good option.

Pros
1. Possibly the best rate in the market, it's even better than Wise for sure.
2. All balances receive very competitive interest, calculated daily, credited monthly. (no lock-up period, but rate is lower than FD).
3. Insured by PIDM up to RM250k.

Cons
1. Only useful for keeping foreign currencies in your own RHB account
2. Outward TT will incur fees, inward TT is free though. So conversion from different currencies between different bank accounts across countries, Wise would be better.
3. Limited to 24 currencies, Wise have more currencies.
4. Each conversion must involve Ringgit. IE say to convert between USD and EUR, U need to convert USD to MYR first, then MYR to EUR, so you lose on the double spread. Wise is better for direct conversion between any pair of currencies not involving ringgit.

Every month, on salary date, I just put some money into the high yielding currencies of AUD, CAD, GBP, NZD, SGD and USD.

Call rate as of today: AUD (3.25%), CAD (4%), GBP (4.1%), NZD (4.5%), SGD (3.4%), USD (4.95%).

Comparison of rates between RHB and Wise as at 25 May 2023 morning, of conversion from Ringgit into the respective currencies. Rate from Wise website is taken at the same time I did conversion from Ringgit.

USD125: RHB (RM576.13), Wise (RM580)
AUD125: RHB (RM377.66), Wise (RM380.21)
GBP125: RHB (RM712.16), Wise (RM716.59)
CAD125: RHB (RM424.40), Wise (RM427.94)
NZD125: RHB (RM352.58), Wise (RM355.36)
SGD125: RHB (RM427.59), Wise (RM431.47)

I don't put into FD in RHB MCA account as it required 2000unit foreign currency for initial deposit, and interest will only be credited after tenure is completed. Plus, there's only small difference in interest rate between call account and FD account for most currencies.

https://www.rhbgroup.com/personal/deposits/...view/index.html







This post has been edited by Mr Gray: May 26 2023, 07:13 PM

You can use weekly Term Deposit rather letting the money to sit idle 🤦‍♀️ as certain currencies have weekly term for it

term deposit requires a minimum of 2000 units of foreign currency for initial deposit. My monthly deposit and total deposit is way smaller than that. Any balances still generates interest, the money is not sitting idle. If you have more than 2000 units of FC, feel free to put it into term deposit and get higher interest rate. Your choice.

This post has been edited by Mr Gray: May 26 2023, 07:44 PM

Good discussions above, bros,....

Inward TT is free of charge?
Meaning, if I transfer US$1000 from an oversea bank into this account, I would receive US$1000?
Of course we don't take into account the fee charge by the overseas bank.

Correction. There's only RM5 fee.

https://www.rhbgroup.com/others/highlights/...0908/index.html

So yup, u should get US1000, minus RM5

rhb mca has no inward fee... u get full 1k

Yes you're right

https://www.rhbgroup.com/files/personal/mul...account-faq.pdf

usd 5.25% liao for 3 months...