Local bank account closure

Ayl999

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Hi, anyone had their local bank account closed for no reasons given? And it seemslike the local banks are banning my friend to open account. The weird thing is there's no outstanding debts, credit card, or not a bankruptcy. What else can be the reasons! We are curious to know and resolve. Who can live without a bank account!
 

havetheveryfun

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Hi, anyone had their local bank account closed for no reasons given? And it seemslike the local banks are banning my friend to open account. The weird thing is there's no outstanding debts, credit card, or not a bankruptcy. What else can be the reasons! We are curious to know and resolve. Who can live without a bank account!

confirm got reasons.

there are so many local banks in Singapore, if one doesn't want your biz, just go to another one. If all of them close ur fren's account, then confirm got some reasons hes hiding.
 

limster

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TS create account just to post this for his 'friend'. Cool story bro'. :s13:
 

dewirox

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i have same problem

4 months ago DBS close my account

now is uob


damn , i no more account

need to open new one with other bank
 

dewirox

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U know the reason loh.

i got do illegal thing before , but that was last time and i already served my sentence , and my bank also no problem , never frozen





now i got do some online business , sometime got few k come in
then my friend also got do , his bank also never close

only mine close


so i think very wierd

and my bank always $0 balance from the day i open , 16 years ago

never close/froze until now


if bank with $0 so easy to close , how about those super rich people like bookie or kong hee?


why close a $0 account?
 
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wira

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hmm ...i think accounts that have $0 for extended periods of time will be auto closed by banks here.
 

Charlie_Zhan

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i got do illegal thing before , but that was last time and i already served my sentence , and my bank also no problem , never frozen





now i got do some online business , sometime got few k come in
then my friend also got do , his bank also never close

only mine close


so i think very wierd

and my bank always $0 balance from the day i open , 16 years ago

never close/froze until now


if bank with $0 so easy to close , how about those super rich people like bookie or kong hee?


why close a $0 account?
if account suddenly closed by a bank, and all other banks also reject your request to open your account. its most likely that instructions given by CID for banks to tagged your status with an indicator of convicted unlicensed money lending relates offences.

if the above is true, you will need to contact back your IO who handled your case previously to obtain approval for you to open a bank account. if your request is approved, your IO will give you a approval letter for the bank to open an account for you.

with that approval letter, you would only be able to open one account with one bank in SG. and you will not be given any iBanking access as well as ATM card. all cash withdrawal would have to be done by yourself in person during banking hours over the branch counter.

if your circumstances is true to what I've mentioned above, then you may want to reach out to the point of contact I've mentioned. otherwise, you may wish to share more regarding your case if your comfortable to do so, else it would difficult for anyone to advise you further.

Sent from Samsung SM-G965F using GAGT
 
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Hojicha

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How frequent are your crypto buy and sell transactions? And what volume?
You might be better off trying foreign bank
 

assiak71

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All banks will close you... didn't know they are sensitive to crypto transactions...

You went direct? If go through xfers/transferwise etc should be fine?

Interested to know what bank for your case. Can only guess D**
 

havetheveryfun

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All banks will close you... didn't know they are sensitive to crypto transactions...

Very sad if that's the case

But if u notice all the major local exchanges like hako or xfers, they always ask not to put crypto related words in the comment section... Not sure how they manage to not get banned after so long
 

havetheveryfun

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Singapore govt is pro crypto from what I understand but MAS and the Banks are not, I just told the bank truthfully that i buy and sell crypto and got closed.. what I am doing I believe is not illegal, but in the eyes of the bank it is risky. Just a few hundred K...

U transact few hundred k per transaction?
 

assiak71

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Those whose acc closed, how many years later will you try to open at the same bank again?
 
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