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PR cancellation

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the lynx
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Re: PR cancellation

Postby the lynx » Mon, 05 Oct 2015 4:25 pm

melvacn wrote:After cancellation, ICA will give one month social visit pass, is this social visit pass allow me to come back signapore again? can I go back China then come back again?
Since withdraw CPF needs 2-4 weeks, I can not just stay here to wait for the CPF transfer to my UOB account and then I can get them out from UOB account and transfer back to China.


Well technically, this pass allows you to remain in Singapore up to 30 days. So if you leave to return to China, you can always come back here on another social visit for your CPF (if that's what you really want to do).

Check carefully if the final cost of remitting the money to China from Singapore is worth your trip to Singapore. If the difference is not much, your flight ticket would have negate the "savings" you would have gotten from doing it through agent in Chinatown.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Mon, 05 Oct 2015 6:00 pm

melvacn wrote:I want take the money, just I do not want the CPF board to transfer the money back to China as they will use a very poor FX rate. I want to wait for the money CPF board transfer to my bank account, then I come back to singapore and take the money out from bank, go to China Town to post back China. There the Money Exchanger can give a quite good FX rate.


I see. then you give your local bank account as the receiving bank.

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Re: PR cancellation

Postby melvacn » Tue, 06 Oct 2015 9:48 am

Ok, thank you all for your reply and answers. I will check whether the ticket come back to singapore will conver the lost due to the FX rates.

Or is there any other way the CFP Board can transfer the CPF money to my bank account in singapore faster? 2-4 weeks are quite long, can this be done within one week? If it can be done within one week, then I can consider just stay here to wait for the money from CPF to transfer to my bank account in singapore.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Tue, 06 Oct 2015 6:15 pm

melvacn wrote:Ok, thank you all for your reply and answers. I will check whether the ticket come back to singapore will conver the lost due to the FX rates.

Or is there any other way the CFP Board can transfer the CPF money to my bank account in singapore faster? 2-4 weeks are quite long, can this be done within one week? If it can be done within one week, then I can consider just stay here to wait for the money from CPF to transfer to my bank account in singapore.


Ok, now again, are you serious ?

Tongue in Cheek, I heard CPF board will return your CPF money in installment ;) If you can't wait the 4 weeks to collect the huge sum of money, so huge it is cheaper for you to fly and collect it and go back

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Re: PR cancellation

Postby melvacn » Mon, 12 Oct 2015 10:07 am

Thank you all for your suggestions and replies.

ful babu
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Re: PR cancellation

Postby ful babu » Wed, 09 Aug 2017 6:22 am

Hi

It seems like now it takes about 6-8 weeks to get the money in your bank, at least according to CPF board as of now (August '17).

Anyone else has done it recently?

I will update once I get the cpf sum "banked in".

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Re: PR cancellation

Postby Strong Eagle » Wed, 09 Aug 2017 8:26 am

ful babu wrote:Hi

It seems like now it takes about 6-8 weeks to get the money in your bank, at least according to CPF board as of now (August '17).

Anyone else has done it recently?

I will update once I get the cpf sum "banked in".


What method of transfer did you specify on your CPF refund request? It's very fast for a transfer to a supported Singapore bank, much longer for a wire transfer.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Wed, 09 Aug 2017 10:00 am

ful babu wrote:Hi

It seems like now it takes about 6-8 weeks to get the money in your bank, at least according to CPF board as of now (August '17).

Anyone else has done it recently?

I will update once I get the cpf sum "banked in".
3 weeks for Singapore bank, longer depends on how fast or slow your overseas fund transfer works.

I do know some countries' take 8 weeks or longer for overseas transfers, especially for large sums, plus going through anti money laundering clearance.

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Re: PR cancellation

Postby ful babu » Sat, 19 Aug 2017 1:58 am

Strong Eagle wrote:
ful babu wrote:Hi

It seems like now it takes about 6-8 weeks to get the money in your bank, at least according to CPF board as of now (August '17).

Anyone else has done it recently?

I will update once I get the cpf sum "banked in".


What method of transfer did you specify on your CPF refund request? It's very fast for a transfer to a supported Singapore bank, much longer for a wire transfer.


transfer to OCBC but cpf told me they have more "stringent" check now, and standard processing time is 6-8 weeks

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Re: PR cancellation

Postby Strong Eagle » Sat, 19 Aug 2017 3:18 am

ful babu wrote:transfer to OCBC but cpf told me they have more "stringent" check now, and standard processing time is 6-8 weeks


Is the form still the same? Since I was overseas when I cancelled PR, I didn't want to have to walk into a bank and get the form signed. Instead, I had the bank send me an original monthly statement, which I then mailed back to CPF. The mailing back and forth took the most time. A few days after they received the bank statement and my application, the money was transferred to my Stan Chart account.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Sat, 19 Aug 2017 11:52 am

Strong Eagle wrote:
ful babu wrote:transfer to OCBC but cpf told me they have more "stringent" check now, and standard processing time is 6-8 weeks


Is the form still the same? Since I was overseas when I cancelled PR, I didn't want to have to walk into a bank and get the form signed. Instead, I had the bank send me an original monthly statement, which I then mailed back to CPF. The mailing back and forth took the most time. A few days after they received the bank statement and my application, the money was transferred to my Stan Chart account.
CPF board says if it's to a local bank under your name, no verification needed.

That was last month info.

Full babu, is it 6 to 8 weeks for local banks ?

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Re: PR cancellation

Postby Strong Eagle » Sat, 19 Aug 2017 12:23 pm

ecureilx wrote:CPF board says if it's to a local bank under your name, no verification needed.



That is distinctly not correct. If you are in Singapore you must present your withdrawal application at the bank, in person, and have it signed by a bank officer. If you are not present in Singapore but do have a Singapore bank account, you must submit an original (no email bank statements printed out) copy of your bank statement along with the withdrawal form.

The current form on the CPF website will inform you of this.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Sat, 19 Aug 2017 1:30 pm

Strong Eagle wrote:
ecureilx wrote:CPF board says if it's to a local bank under your name, no verification needed.



That is distinctly not correct. If you are in Singapore you must present your withdrawal application at the bank, in person, and have it signed by a bank officer. If you are not present in Singapore but do have a Singapore bank account, you must submit an original (no email bank statements printed out) copy of your bank statement along with the withdrawal form.

The current form on the CPF website will inform you of this.
:D

Interesting to know

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Re: PR cancellation

Postby ful babu » Sat, 19 Aug 2017 10:03 pm

ecureilx wrote:
Strong Eagle wrote:
ful babu wrote:transfer to OCBC but cpf told me they have more "stringent" check now, and standard processing time is 6-8 weeks


Is the form still the same? Since I was overseas when I cancelled PR, I didn't want to have to walk into a bank and get the form signed. Instead, I had the bank send me an original monthly statement, which I then mailed back to CPF. The mailing back and forth took the most time. A few days after they received the bank statement and my application, the money was transferred to my Stan Chart account.
CPF board says if it's to a local bank under your name, no verification needed.

That was last month info.

Full babu, is it 6 to 8 weeks for local banks ?


Yes, to a Singapore OCBC account.

About verification, they said it is recommended to get the form endorsed by an officer from bank even if it is a local bank. CPF officer gave an indemnity form since the form was not endorsed.

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ecureilx
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Re: PR cancellation

Postby ecureilx » Sat, 19 Aug 2017 10:34 pm

ful babu wrote:Yes, to a Singapore OCBC account.

About verification, they said it is recommended to get the form endorsed by an officer from bank even if it is a local bank. CPF officer gave an indemnity form since the form was not endorsed.


Seems about right like how an ex colleague described!


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