Moved the discussion here as highlighted by Mod:

just go to CIMB sg site to see.

For CIMB, first open local CIMB account. Even the most basic SA account with no ATM card and charges will do.

Then follow this link open CIMB SG account. Everything online.

h t t p s : //n o m o n e y l a h . c o m / 2 0 2 2 / 0 2 / 1 5 / s i n g a p o r e - b a n k - a c c o u n t /

Mine is new account can't post link . Just remove the spaces....lol...

Err..no...whether it's Malaysia or Foreign FD, still the same. No need that kind of nonsense here, thank you.

Stumbled across this just now:



With USD rates going up and up, isn't it a good move to put FD in USD? Hedge your money and at the same time get good FD rates!

Yes, seems like it. But i think the problem is the conversion rate. I am not sure how it is. If we can keep the money in USD it's great, if need to convert back to RM and then convert again to USD, then jalat. Anyone has experience?

Yeah, thinking of this, but SGD rates not as high as the USD shown. I have already opened a CIMB SG account and activated yesterday.

Thanks for the reply.

Btw, i have found something here. CIMB claims to have the best SGD rates conversion with no additional fee.

Even based on the rates alone of RM 3.20xx, it is really better than my WISE (i did a quick check) which is at RM 3.22 and not counting the Conversion fee yet!

So those who thinking the WISE route maybe double check the rates and compare before you transfer.

GBP might falls further. If you haven't convert to GBP, perhaps wait for a while. Also need to check with bank for all the transfer fees, network charges, blah blah or ends up rugi instead of untung.

Just done an FD for 3.75%@12mths online via CIMB Clicks Singapore.

Comparable to some Malaysia banks now.

Transfered my money via wise, average rate is SGD 1=RM 3.374. Still lower than if i direct transfer from CIMB MY => CIMB SG which is RM 3.4xx



This post has been edited by CommodoreAmiga: Nov 10 2022, 04:21 PM

But we cannot open DBS account easily, can we?

No. Lol. CIMB best. Sit at home click click open account, watch Netflix.

You can read this thread here. Open account in CIMB SG, easiest way is to have a CIMB MY first, then apply CIMB SG account and you can link the SG account to your Malaysian account. Once you have a CIMB SG account, just log in and make eFd like any other Malaysian bank....but honestly, the CIMB SG UI is a bit crap compared to even the Malaysia one....Malaysia boleh!
Kita Boleh!!!
As mentioned by others there is a spread for FX when you do this with local bank foreign currrency FD, it could really cut deep.

This post has been edited by CommodoreAmiga: Nov 18 2022, 06:12 PM

But can you transfer from SG bank back to WISE? I read you can't receive money from outside Malaysia? Have you tried?

What bank card??? Basically, my transfer is basically one way to SGD, USD. But if needed, I would like the option to return the money on standby.

This post has been edited by CommodoreAmiga: Nov 23 2022, 06:12 PM

Aiks....Kanasai, placed one a few weeks back.

Can make FD online without having a bank account?? I only have CIMB SG Account.

Online from MY, can??

Your money masuk already...can keluar or not? later kena tax 110% for withdrawing...lol

Masuk RM100k, come out left RM10k. Haha. Basically, I won't put in anything but USD and SGD.

https://www.cimb.com.sg/en/personal/banking...it-account.html

CIMB 4.15%@12mths. Higher than some local banks. Gonna put more in SG next month when some FDs mature.

This post has been edited by CommodoreAmiga: Jan 25 2023, 07:13 PM

What kind of risks? I am am not planning to take back these money. It's main purpose is to hedge with a high interest rate as bonus.

Seems lower than here.