Saving Account and Transfer Money

JY Cheong

New member

Member since 04 September 2018

JY Cheong

31 October 2018 11:03:49

JY Cheong

31 October 2018 11:03:49

Hi Gurus:-

Would like to get advise which banking saving account shall recommended to open?
Is there any banking has no minimum saving ? Like DBS charge S$5 fall below S$3K. I don't have that much for starting in Singapore, But if not wrong they don't charge transfer fees when i transfer money to Msia. What else bank doesn't charge transfer fee when transfer money to Msia bank. Any recommended opinion or Can advise?

Best Regard
JY

surya2k

VIP Member

Member since 22 June 2014

Singapore

surya2k

31 October 2018 16:13:38

2889

surya2k

31 October 2018 16:13:38

2889

Singapore

DBS charges $2 monthly if you don't maintain minimum S$2k.

Check UOB, it too has similar facilities with no transfer fees.

As you are from MY, so it's realistically well to open a bank account with May Bank as it has the widest coverage in MY (but you need to check on minimum balance to maintain and wire transfer fees, if any). Good luck

Marzipan007

Member

Member since 11 October 2018

Singapore

Marzipan007

09 November 2018 14:58:06

Marzipan007

09 November 2018 14:58:06

Singapore

I transfer funds from DBS to my accounts in Malaysia (Maybank and UOBM) with zero processing fee. If you transfer before 11am on a working day, it gets credited by 3pm on the same day. Mobile banking is very seamless so transferring funds is just a breeze and can even finish in less than 2 mins.

With this in mind, I think $5 if falls below $3,000 is bearable for a start. Maybank SG also charges $5 for foreigners if falls below $1,000 but I haven't tried their funds transfers..

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