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Recommended Banks

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southernx
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Recommended Banks

Postby southernx » Wed, 05 Feb 2014 2:12 pm

Hi,
Could I have some (local?) bank recommendations in Singapore please.

Do you stay with your major international banks, or is it better to go to a local (if there are any) bank.

The account would simply be used to get paid into, attach some credit/key cards etc., for daily use, expenses. Internet banking is a must have.

I heard that HSBC and Citibank have horrendous fees for example.

Thank you.

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zzm9980
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Re: Recommended Banks

Postby zzm9980 » Wed, 05 Feb 2014 2:31 pm

southernx wrote:I heard that HSBC and Citibank have horrendous fees for example.

Thank you.


Most of the banks are roughly comparable. I like OCBC for a Singaporean bank (they have branches with great hours, 11am-7pm 7 days a week) and decent online banking. Their credit card promotions suck.

Citibank makes it easy and kinda cheap to move money to other Citibank accounts around the world (but not always back in to Singapore). This is a big sell for a lot of us. Their credit cards have good promotions at places expats tend to frequent. (Cold Storage and Starbucks for example).

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Postby beppi » Wed, 05 Feb 2014 3:54 pm

I don't think you will get a credit card (from any bank) without being resident here.

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Re: Recommended Banks

Postby DannyKhoo » Thu, 06 Feb 2014 2:14 pm

southernx wrote:Hi,
Could I have some (local?) bank recommendations in Singapore please.

Do you stay with your major international banks, or is it better to go to a local (if there are any) bank.

The account would simply be used to get paid into, attach some credit/key cards etc., for daily use, expenses. Internet banking is a must have.

I heard that HSBC and Citibank have horrendous fees for example.

Thank you.

DBS is the best :)

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Postby CaptainBullus » Thu, 06 Feb 2014 6:12 pm

What would be the best way to transfer monthly amounts from my UK (RBS) account to a Singapore account? Thanks

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zzm9980
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Postby zzm9980 » Fri, 07 Feb 2014 12:05 am

CaptainBullus wrote:What would be the best way to transfer monthly amounts from my UK (RBS) account to a Singapore account? Thanks


Move it to a Citibank UK account and transfer to Citibank SG, or just do a normal wire.

Or, cash in the pocket on a flight. For large amounts ($50k SGD or more), sometimes it's cheaper to buy the round trip plane ticket.

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Re: Recommended Banks

Postby ohmz52 » Fri, 07 Feb 2014 3:42 am

southernx wrote:I heard that HSBC and Citibank have horrendous fees for example.


I have some questions too pls...

1. Do you get charged a fee to have your monthly salary paid in to your Singaporean bank account?

2. What documents would I need to open a bank account in Singapore?

I'm moving soon and want to ensure I have everything I need.

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Postby Denix Fluid Power » Fri, 07 Feb 2014 9:46 pm

Obviously, OCBC is the best as its paid up capital is relatively small. require only couple of thousands, other banks like CITI requires 300K.
And I strongly believe that a local bank has a strong support from the government which actually benefit customers if you choose them.

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Postby ts1978 » Mon, 10 Feb 2014 11:45 am

As mentioned all the local banks are "good". As in they are stable businesses with strong balance sheets and offer a modern range of banking services.

Most all of them also have a brokerage arm, which is quite convenient if you do it through the same bank (if that's something you're interested in). That's why I use UOB & UOB Kay Hian.

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Re: Recommended Banks

Postby ScoobyDoes » Mon, 10 Feb 2014 11:52 am

DannyKhoo wrote:DBS is the best :)



Only if you want to stand in ATM queues for an hour.

The number of times I've been able to walk up to an empty UOB machine but see a queue of a dozen standing at the next DBC/POSB machine is eye watering.
'When Lewis Hamilton wins a race he has to thank Vodafone whereas in my day I used to chase the crumpet. I know which era I'd rather race in.'

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Postby zzm9980 » Mon, 10 Feb 2014 3:21 pm

Denix Fluid Power wrote:Obviously, OCBC is the best as its paid up capital is relatively small. require only couple of thousands, other banks like CITI requires 300K.
And I strongly believe that a local bank has a strong support from the government which actually benefit customers if you choose them.


What the hell are you talking about?

The account would simply be used to get paid into, attach some credit/key cards etc., for daily use, expenses. Internet banking is a must have.

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sundaymorningstaple
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Postby sundaymorningstaple » Mon, 10 Feb 2014 5:06 pm

I don't reckon he's gonna last too long here before he trips....... 8-)

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Postby Denix Fluid Power » Mon, 10 Feb 2014 9:24 pm

Last edited by Denix Fluid Power on Sat, 15 Feb 2014 7:50 am, edited 1 time in total.

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zzm9980
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Postby zzm9980 » Tue, 11 Feb 2014 1:07 am

Denix Fluid Power wrote:
zzm9980 wrote:
Denix Fluid Power wrote:Obviously, OCBC is the best as its paid up capital is relatively small. require only couple of thousands, other banks like CITI requires 300K.
And I strongly believe that a local bank has a strong support from the government which actually benefit customers if you choose them.


What the hell are you talking about?

The account would simply be used to get paid into, attach some credit/key cards etc., for daily use, expenses. Internet banking is a must have.


Your wise opinion?



Are you a complete retard? OP asked for opinions on a basic bank account with online functionality. You're talking about "paid up capital" (In a bank account?), spouting off arbitrary figured that make no sense in relation to what OP asked, and then talking about "government support" for the bank, like any of that matters?

My guess is you're a poorly configured bot, an uncomprehending Indian sitting in an ODC somewhere in a third tier city getting paid to make create forum accounts and build up posts so the accounts can later spam, or a complete retard. Or both of the latter two.

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Postby nutnut » Tue, 11 Feb 2014 1:38 pm

I agree with ZZM, you're talking nonsense!

OP, UOB has shorter ATM lines and you can use OCBC ATMs too.

DBS has more ATMs though.

Both are fine.
nutnut


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