Moving to Singapore? Ask our regular expats in Singapore questions on relocation and their experience here. Ask about banking, employment pass, insurance, visa, work permit, citizenship or immigration issues.
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crosskeys
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by crosskeys » Wed, 04 Oct 2017 5:56 am
Hi, Although not living in Singapore, we have been advised to have a US$ account here as the country we are in is not stable enough. Can anyone share their experiences of the best bank for a US$ account without needing a S$ account and with online banking? Thanks for your advice!
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PNGMK
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by PNGMK » Wed, 04 Oct 2017 9:00 am
crosskeys wrote:Hi, Although not living in Singapore, we have been advised to have a US$ account here as the country we are in is not stable enough. Can anyone share their experiences of the best bank for a US$ account without needing a S$ account and with online banking? Thanks for your advice!
Is this for your drug cartel proceeds or your illegal capital outflow from real estate sales in China?
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or
http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
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bgd
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by bgd » Wed, 04 Oct 2017 10:26 am
It's not easy (possible?) opening a bank account if you are not resident.
Unless of course you have large amounts to deposit

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PNGMK
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by PNGMK » Wed, 04 Oct 2017 1:56 pm
bgd wrote:It's not easy (possible?) opening a bank account if you are not resident.
Unless of course you have large amounts to deposit

Even then you need to provide statements and proof about the source of funds. 1MDB made sure of that.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or
http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
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crosskeys
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by crosskeys » Thu, 05 Oct 2017 12:15 pm
PNGMK wrote:crosskeys wrote:Hi, Although not living in Singapore, we have been advised to have a US$ account here as the country we are in is not stable enough. Can anyone share their experiences of the best bank for a US$ account without needing a S$ account and with online banking? Thanks for your advice!
Is this for your drug cartel proceeds or your illegal capital outflow from real estate sales in China?
Neither, just a couple of grafters that are finally retiring and don't want to keep all their money in Thailand

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ecureilx
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by ecureilx » Thu, 05 Oct 2017 2:03 pm
crosskeys wrote:
Neither, just a couple of grafters that are finally retiring and don't want to keep all their money in Thailand

Shouldn't there be a deposit insurance in TG ?
in PH it is 500,000 PHP.
Singapore is 50,000 SGD
Oh, if you hold certain passports, (not Africa or South American .. ) Some banks will not even give you face - NO, NOT ALLOWED TO HOLD AN ACCOUNT.
PS, have you tried HSBC Vantage ?
Or CITI ? They allow opening of Off shore accounts in SG
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bgd
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by bgd » Thu, 05 Oct 2017 3:40 pm
See the earlier threads on HSBC and levels of service.
You may have more traction if you approach the Private Banking arms of the banks. That of course implies a certain level of funds.
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PNGMK
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by PNGMK » Thu, 05 Oct 2017 7:17 pm
I doubt you will succeed without any residency status in Singapore. Blame Najib and his cronies for that.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or
http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
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Wd40
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by Wd40 » Thu, 05 Oct 2017 8:26 pm
Open a brokerage account with Interactive brokers and keep your monies there, invest it in ETFs according to your risk profile. Who keeps money in bank accounts?
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PNGMK
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by PNGMK » Fri, 06 Oct 2017 8:58 am
Wd40 wrote:Open a brokerage account with Interactive brokers and keep your monies there, invest it in ETFs according to your risk profile. Who keeps money in bank accounts?
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The brokers I know won't do it without a corresponding bank account in OP's name. I guess thought the account doesn't need to be in Singapore. Good sol'n WD.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or
http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!
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Wd40
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by Wd40 » Fri, 06 Oct 2017 9:03 am
PNGMK wrote:Wd40 wrote:Open a brokerage account with Interactive brokers and keep your monies there, invest it in ETFs according to your risk profile. Who keeps money in bank accounts?
Sent from my Redmi Note 4 using Tapatalk
The brokers I know won't do it without a corresponding bank account in OP's name. I guess thought the account doesn't need to be in Singapore. Good sol'n WD.
Interactive brokers is US based. They have offices in UK, Canada and Hong Kong. You don't really need to link it to any bank account. You just need to fund it in one of the 16 funding currencies. You can do a wire transfer. You could also do a FAST if you are funding using SGD.
Singapore brokers are olgliopolic and charge outrageous fees, just like everything else in Singapore.
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aki01
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by aki01 » Fri, 06 Oct 2017 10:05 am
Assuming you just want to park your money somwehere and possibly invest it then :
Internaxx (formerly TD DIrect International), based in Luxembourg. There are a few forms you need to send them. Process is very straightforward. You will get a multi-currency account, I believe approx 8 different currencies.
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Deposit USD into Bank of America account?
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Last post by PNGMK
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Does anyone know if i can open a brokerage account using overseas bank?
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