Their accounts may be good but their credit card is not. Since you spend like >rm10k/month, better choose maybank 2 premier. If you know the trick, you can get free tickets from them.

And beside you need to be able to open account in the respective country you want to.transfer money. Open first. Then think about which priority banking you want.

Check sifu Gen-X's blog. Can't remember which post. He did the same thing. Cycle the money here and there.

http://generationsxyz.blogspot.co.id/2015/...ights-2015.html

After the Singapore account is open, can we remove the priority banking from CIMB?

So one does not need to go down to Singapore right? They will send you the atm card, everything right?

If like that, that's going to make my life easier.

Put priority banking, open SG account, one month later remove priority banking.

Simple. As a backup plan. As Unker dreamer said, one should not hold lots of MYR and don't keep too much cash in malaysia. Having a foreign currency account in Malaysia is still the same as having a normal account in malaysia. The money is still in malaysia. You never know when they can restrict how much you can bring out like what happen in Argentina. If that were to happen, is too late.

It won't be now. Maybe 3 years time. Need to gather my money first.

I do not know which bank allows you to do that. Some don't. You still need to go Singapore.

Sorry for asking. But what's wrong with say transfer one shot rm500k and write purpose for investment? There's paper trail and it's your own money. (sorry if the value is rm500k - too small for you guys here ) What's bnm going to do? Stop your transfer?

Btw, what's the max limit you recommend if one have a PB status and intend to transfer in batches?

Cimb have this rm50k PB right? Can someone with the rm50k PB gets cimb bank to create a bank account for thrm? Or application of the Singapore account is only applicable to those with >RM250k?

This post has been edited by Ramjade: Jan 20 2016, 08:17 AM

All Singapore banks are like that an of course no interest. If you already have 2 accounts in SG, that's enough as the more SA you have with them, the more money you will lose. No interest, needs min amount inside (your money is not doing anything)

Their savings and FD generate virtually nothing. Even their epf version only pays like 2%. They said retirement fund should not be given as high as what our EPF give us as it is a safe investment. If one wants to get more than that, they need to get into riskier stuff. Malaysian EPF is giving too much returns. Not my words but words from Singapore retirement fund officers.

A person here already shared how to get 1% p.a from Singapore banks. One will need to transfer back and forth between ocbc and scb every month to "trick" banks into thinking it's new funds.

This post has been edited by Ramjade: Jan 20 2016, 09:25 AM

Not all banks enforce that. Check out sifu Gen-X blog post on how to get free priority status.

Looks like you got a bad exp. From Gen-X's blog his RM really hebat.

Not really. Money stuck there and cannot move out.

Sure can. Just that divided among too many banks. Or too humble to show hand.

Just lock RM50k with them in eGIA-i. After all according to bbgoat they won't withdraw your status if your amount fall below the limit. See his example.

Wow. Didn't know that. Well soon you don't need to pay them anything for buying if you can archive it. I thought you must buy into their investment product.

Where did you get the info shares are counted? If like this, must work my way towards becoming priority banking customer of standard chartered SG.

If you are citigold, from what I read, toy get the best exchange rates.

But if one got transferwise and SGD account, better than priority banking.

Just my 2 cent.

Talking about those who need Citigold for remittance purpose to overseas.

Not needed. The opening is determine by maybank SG. Maybank MY have no say in this. If you want, you better hurry. According to Hansel, you better hurry. Door's closing.

There's a stir on opening SG account thread that maybank implemented some new rules. Whether it's real or not, I don't know.

For me personally, if I want to use my priority status (if I have one), I will pick these 3 banks
1) ocbc
2) uob
3) standard chartered

Reason for 1) & 2) = sg banks are much safer than malaysian banks.

Reason 3) = access to worldwide brokerage without any commision and maintenance fee

This post has been edited by Ramjade: Aug 7 2017, 11:42 PM