Discuss the different banking options, rates, offers and perks.
-
Bloomaul
- Newbie
- Posts: 19
- Joined: Thu, 19 Dec 2013 8:11 pm
-
Quote
-
0
login to like this post
Post
by Bloomaul » Wed, 12 Feb 2014 7:35 pm
Hi,
I thought it might be advisable to get a bank account during my 6-month internship. I dont need any debt, credit or loan. What I am looking for is a card I can use within the ASEAN countries or woldwide without paying any fees for getting money at ATM's outiside Singapore.
My monthly income is 2000 SGD.
Any advices?
Best regards,
Bm
-
zzm9980
- Governor
- Posts: 6869
- Joined: Wed, 06 Jul 2011 1:35 pm
- Location: Once more unto the breach
-
Quote
-
0
login to like this post
Post
by zzm9980 » Wed, 12 Feb 2014 9:27 pm
Bloomaul wrote:Hi,
I thought it might be advisable to get a bank account during my 6-month internship. I dont need any debt, credit or loan. What I am looking for is a card I can use within the ASEAN countries or woldwide without paying any fees for getting money at ATM's outiside Singapore.
My monthly income is 2000 SGD.
Any advices?
Best regards,
Bm
Any bank will generally let you take out money at
their own ATMs with minimal fees. So you need to pick a local bank with a good network of ATMs in the countries you'll need to withdraw money in.
IME, Citibank followed by HSBC will have ATMs in the most Asian countries. Some other banks have more in specific countries, but maybe less overall. Just
-
Bloomaul
- Newbie
- Posts: 19
- Joined: Thu, 19 Dec 2013 8:11 pm
-
Quote
-
0
login to like this post
Post
by Bloomaul » Wed, 12 Feb 2014 11:54 pm
Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
-
zzm9980
- Governor
- Posts: 6869
- Joined: Wed, 06 Jul 2011 1:35 pm
- Location: Once more unto the breach
-
Quote
-
0
login to like this post
Post
by zzm9980 » Thu, 13 Feb 2014 12:39 am
Bloomaul wrote:Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
No, you'll be extremely hard pressed to find a Singapore bank which will let you withdraw at foreign ATMs for no charge unless you carry an extremely high balance. At the balances we're talking, foreign withdrawal fees are inconsequential.
What countries are you looking for? Citibank is almost everywhere and will meet your requirements. If you're only going to a few local countries like Malaysia or Indonesia you could probably do DBS or OCBC also.
-
Bloomaul
- Newbie
- Posts: 19
- Joined: Thu, 19 Dec 2013 8:11 pm
-
Quote
-
0
login to like this post
Post
by Bloomaul » Thu, 13 Feb 2014 1:40 am
zzm9980 wrote:Bloomaul wrote:Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
No, you'll be extremely hard pressed to find a Singapore bank which will let you withdraw at foreign ATMs for no charge unless you carry an extremely high balance. At the balances we're talking, foreign withdrawal fees are inconsequential.
What countries are you looking for? Citibank is almost everywhere and will meet your requirements. If you're only going to a few local countries like Malaysia or Indonesia you could probably do DBS or OCBC also.
I am not sure to which countries I will travel. Probably Malaysia, Indonesia, Phillipienes, HK, Maccau (and Myanmar). I will check Citibank. Thanks
-
Girl_Next_Door
- Reporter
- Posts: 621
- Joined: Thu, 28 Aug 2008 12:35 pm
-
Quote
-
0
login to like this post
Post
by Girl_Next_Door » Thu, 13 Feb 2014 5:05 am
Bloomaul wrote:Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
If you withdraw from Citibank ATM, its free withdrawals except for FX rates. That's the only one I am aware.
-
zzm9980
- Governor
- Posts: 6869
- Joined: Wed, 06 Jul 2011 1:35 pm
- Location: Once more unto the breach
-
Quote
-
0
login to like this post
Post
by zzm9980 » Thu, 13 Feb 2014 9:50 am
Girl_Next_Door wrote:Bloomaul wrote:Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
If you withdraw from Citibank ATM, its free withdrawals except for FX rates. That's the only one I am aware.
Yeah, but every bank will make money off the exchange. There is no way around that unless you pull your money out in Singapore and change at the Raffles Place arcade. (which isn't what the OP wants to do)
Probably Malaysia, Indonesia, Phillipienes, HK, Maccau (and Myanmar)
Never been to Myanmar, but I've personally used Citibank in all of the other locations.
-
beppi
- Manager
- Posts: 1768
- Joined: Thu, 07 Sep 2006 11:15 am
- Location: Ahlongistan (O$P$)
-
Quote
-
0
login to like this post
Post
by beppi » Thu, 13 Feb 2014 4:45 pm
In Myanmar, the first international ATMs were installed a few months ago, and only in the capital.
In Thailand, a fee of THB160 (S$6 or so) is charged by the local bank ON TOP OF your home bank's fee for any foreign withdrawal.
The exchange rate for cash withdrawals is usually low, so the banks still get their hidden fee.
In addition, I have never heard of any bank in Singapore offering no-fee withdrawals elsewhere.
-
PNGMK
- Moderator
- Posts: 9079
- Joined: Thu, 21 Mar 2013 9:06 pm
-
Answers: 10
- Location: Sinkapore
-
Quote
-
0
login to like this post
Post
by PNGMK » Thu, 13 Feb 2014 9:09 pm
Bloomaul wrote:Isn't there a bank, which offers free withdraw at any ATM? In Singapore and worldwide? Or minimum fees (below 3SGD)?
Looking for a special bank in another country isnt cool ...
Maybank allows free withdrawls from corresponding bank atms in a bunch of SE Asian countries - MY, TH, PNG (!), Brunei maybe more.
-
Bloomaul
- Newbie
- Posts: 19
- Joined: Thu, 19 Dec 2013 8:11 pm
-
Quote
-
0
login to like this post
Post
by Bloomaul » Thu, 13 Feb 2014 9:36 pm
In Germany we have two banks (DKB, comdirect), which offer free withdrawl worldwide and the card is free.
Anyway, it is diffuclt to find a bank, where i can open a accoutn with 2000S/month income
-
beppi
- Manager
- Posts: 1768
- Joined: Thu, 07 Sep 2006 11:15 am
- Location: Ahlongistan (O$P$)
-
Quote
-
0
login to like this post
Post
by beppi » Thu, 13 Feb 2014 10:11 pm
The Singapore banking system, at least from a customer perspective, is by far not as developed as in Germany. Forget about getting similar service (and costs) as German Internet banks!
-
zzm9980
- Governor
- Posts: 6869
- Joined: Wed, 06 Jul 2011 1:35 pm
- Location: Once more unto the breach
-
Quote
-
0
login to like this post
Post
by zzm9980 » Thu, 13 Feb 2014 10:43 pm
beppi wrote:
In addition, I have never heard of any bank in Singapore offering no-fee withdrawals elsewhere.
Citibank Singapore only charges the fx % (which isn't cheap, but not ridiculous compared to its competitors either) when you use their ATMs elsewhere. Thus why I use them.
-
-
Cashing cheque without bank account
Replies: 4
First post
Dear all,
I have done work remotely for my client company and received cheque on my name via traditional post to my home address in residence...
Last post
You can deposit the cheque in your home country bank account. It will take time to clear and cost a bit more.
- 4 Replies
- 2721 Views
-
Last post by PNGMK
Mon, 26 Aug 2019 2:11 pm
-
-
Bank account opening
Replies: 10
First post
Hi all
I am a foreigner but for work purpose, expect to visit Singapore quite often and would like to open a bank account in Singapore. I do not...
Last post
Trying to get your assets out of Hong Kong? There is a Bank of China here.
There is also ICBC.
- 10 Replies
- 4760 Views
-
Last post by maneo
Tue, 12 Nov 2019 6:54 pm
-
-
Need advice on opening bank account
Replies: 1
First post
I am a LTVP holder and wish to open a bank account as I got job here. Need expert advice in opening bank account with benefits. Any specific bank...
Last post
DBS or POSB. Lots of ATMs. Not clear what benefits you are looking for.
- 1 Replies
- 2055 Views
-
Last post by tiktok
Wed, 01 Jan 2020 5:39 pm
-
-
Opening a bank account in Singapore as a EU citizen
Replies: 30
First post
Hi,
I am in the process of arranging a relocation to Singapore and have currently some interviews with potential employers. Whenever I am there I...
Last post
Considering his IP address (German?) and a throw-away email address? Sixteen years moderating this board, and the fact that between the two active...
- 30 Replies
- 11375 Views
-
Last post by sundaymorningstaple
Sat, 31 Oct 2020 12:05 pm
-
-
Police freeze my bank account
Replies: 25
First post
Hi,
I am new member and actually do not live in Singapore. I have a bank account in Singapore and recently that account was freezed by police. I made...
Last post
What exactly is your situation?
- 25 Replies
- 19181 Views
-
Last post by malcontent
Sat, 24 Jul 2021 10:46 am
Users browsing this forum: No registered users and 6 guests