QUOTE(drbone @ Aug 8 2017, 12:11 AM)
Okay I happen to be in desaru currently and am planning to go to jb town tomorrow , and am very keen to open a SG account with my wife. Which would the most convenient to open ?
Convinenent without leaving malaysia, maybank lo.If you want the challenge, cross the border and try your luck.
Ask for trading account (DBS/OCBC/UOB). If you said bank account, guaranteed they won't let you open. Tell them you want trading account. Then they will ask got bank account? Say no. But want to link bank account to trading account. Don't think standard chartered will entertain you.
DBS at MBFC
OCBC and UOB at Raffles place.
If all else fail, tell them you want priority banking. Guaranteed boleh.
From lowest to highest
UOB - SGD100k
OCBC & Standard Chartered - SGD200k
DBS - SGD350k
If you want to hold multicurrency account, OCBC does not have fall below fees while both UOB and DBS have fall below fees of SGD5/month. (this is not a priority banking feature).
Good thing about multicurrency account:
- Able to deposit cash
- Able to withdraw cash
- Able to pay in other country currency when overseas (DBS - major currencies and standard chartered - USD only) without conversion but need to use debit card.
Bad thing about multicurrency account
- Deposit and withdrawal in cash incur min 1% fees (standard chartered can waived the fees - which means you get to deposit and withdraw USD for free - required RM to waived the withdrawal fees, no fees for depositing USD for Standard Chartered)
PS, if you choose to cross the border, bring your proof of income (income tax filling). Very important.
Aug 8 2017, 12:34 AM

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