Opening Malaysian bank account

[Habrosus]

Very ma fan. They can't do it on spot today because is not immediately update to their system..

Must come next time for the card.

Which branch did you visit today?

 

[harky]

Which branch did you visit today?

South key...
To update my passport..

And I notice my card expiry on Oct..

Told me can't change because system take 3-5day to update my passport.

 

[Habrosus]

South key...
To update my passport..

And I notice my card expiry on Oct..

Told me can't change because system take 3-5day to update my passport.

I did both on different dates, passport after borders opened and card few months back.

 

[shadowoflight]

Really depends. Wise has the best rates. I got my Malaysia account for cash conversions from MYR back to SGD.

 

[compro_1975]

i see people is update.. how about to open? whats the latest development and requirement? thanks!

 

[commandowolf]

Singaporeans can open OCBC MY.
No need Malaysian number / address
They will issue you 360 Account
Remember bring NRIC + passport need both, and need to stamp 30 days visa (no egate!)
Also 500rm initial deposit, put in CDM to activate acc.
RM 8 annual fee for card.

https://www.ocbc.com.my/personal-banking/deposits/campaign/OCBC-Singapore-exclusive

I saw this and applied online, lets see how it goes.

After application online, screenshot the unique ID given.

What's next?
(1) You will receive an SMS informing you of the status of your application within 5 working days.
(2) If your application is successful, you will need to visit OCBC Malaysia branch to activate your account and to collect your Debit Card. Please bring your identity card, passport, and other supporting documents such as employment permit, social pass, utility bills to branch.

 

[commandowolf]

Received 2 SMS today. So 2 working days account has been approved by OCBC MY.

RM0.00 OCBC: Your account application is successful SG0000XXX. Visit the selected branch for account activation by 30/09/2024 to avoid account closure

RM0 OCBC: Your OCBC MY account application SG0000XXX is successful. To activate account, visit Taman Molek or Johor Bahru branch with your SG ID by 30/09/2024

Only open on weekdays 9.30am to 4pm, seems i need to take leave and go in to activate.

 

[Phantomkids]

Received 2 SMS today. So 2 working days account has been approved by OCBC MY.





Only open on weekdays 9.30am to 4pm, seems i need to take leave and go in to activate.

OCBC MY can exchange between SGD and MYR like CIMB?

Can apply for credit card also?

 

[commandowolf]

Received 2 SMS today. So 2 working days account has been approved by OCBC MY.





Only open on weekdays 9.30am to 4pm, seems i need to take leave and go in to activate.

Ok, i just did it. Took about 1hr 15mins, because the attendant needed to help another customer. Filled 4 forms, no need for Passport visa stamp, so can use egate coming in. Just bring NRIC, Passport, and 500RM. Come earlier to the OCBC JB branch, walking distance from City Square. I reached around 1.45pm, no queue, after that got a lot of people liao.

After filling and signing 4 paper forms, she activated debit card for me, then go to quick deposit machine, deposited 500RM. Account activated. What i didnt know is should have done online banking registration on the spot afterwards.

https://www.ocbc.com.my/personal-ba...banking/online-banking-registration-and-login

Follow the instructions, do it while at the bank. Then login on the mobile app for OCBC MY, and activate the OneToken, and queue again to get it done. I left already, and now need to wait for a call within 48 hours to activate. Sianz. There is 12 hour cooldown period after activation.

 

[rvenii]

https://www.ocbc.com.my/personal-banking/deposits/campaign/OCBC-Singapore-exclusive

I saw this and applied online, lets see how it goes.

After application online, screenshot the unique ID given.

Looks like they streamlining the processing now, tbh I got everything settled that day so that’s that

 

[commandowolf]

After fully opening the OCBC MY 360 account, i think i recommend everyone to open CIMB bank account.

OCBC account charge $20+ agent fee for transfer from SG to MY account, i didnt do transfer. And cut off everyday 2pm everyday for same day transfer.

I see CIMB is 24/7, i hear from my Malaysian friend that better rates, no fees etc.

 

[Habrosus]

After fully opening the OCBC MY 360 account, i think i recommend everyone to open CIMB bank account.

OCBC account charge $20+ agent fee for transfer from SG to MY account, i didnt do transfer. And cut off everyday 2pm everyday for same day transfer.

I see CIMB is 24/7, i hear from my Malaysian friend that better rates, no fees etc.

Actually after experiencing OCBC 360 here, I'd my doubt OCBC MY would have low/no charges.

Switching from the old OCBC NTUC card and account, they did state back then that minimum balance for the account is S$3K, otherwise there'd be a charge. I don't know how much, just that I'm prepared to close both when they start charging.

Thus having an OCBC MY account has never crossed my mind ever since I got the CIMB one.

 

[ZacharyA]

After fully opening the OCBC MY 360 account, i think i recommend everyone to open CIMB bank account.

OCBC account charge $20+ agent fee for transfer from SG to MY account, i didnt do transfer. And cut off everyday 2pm everyday for same day transfer.

I see CIMB is 24/7, i hear from my Malaysian friend that better rates, no fees etc.

Singaporean can open CIMB MY account?

 

[commandowolf]

Singaporean can open CIMB MY account?

You scroll up and read my posts above. Is on the same page, dont lazy eh

 

[ZacharyA]

You scroll up and read my posts above. Is on the same page, dont lazy eh

sorry la I read backwards ma

 

[commandowolf]

sorry la I read backwards ma

Anyways i dont recommend OCBC MY, transfer from OCBC SG need to pay $20+ sgd for agent fee, rates also not as good. Still need to go into JB to sign up, then need do the onetoken verification call. So mafan. Daily cut off of 2pm also for transfers.

CIMB better lah, my malaysian friend say no fees, better rates, and 24/7 immediate transfer. Can just apply in SG branch, no need go malaysia to open the account.

Now i apply CIMB SG, waiting for approval, then i go set up MY account

 

[ZacharyA]

Anyways i dont recommend OCBC MY, transfer from OCBC SG need to pay $20+ sgd for agent fee, rates also not as good. Still need to go into JB to sign up, then need do the onetoken verification call. So mafan. Daily cut off of 2pm also for transfers.

CIMB better lah, my malaysian friend say no fees, better rates, and 24/7 immediate transfer. Can just apply in SG branch, no need go malaysia to open the account.

Now i apply CIMB SG, waiting for approval, then i go set up MY account

I only saw your past post talking about OCBC leh, never talk about CIMB.

Anyway I have CIMB SG (credit card only). I will enquire with them directly when I pass by their Raffles Place branch ba.


In terms of rates, why don't you use other platforms like Wise / Revolut / YouTrip / Trust to get close to spot rate transfer to their MY bank account in RM?

For the longest time, I have been using my TnG wallet as my Malaysia "bank account" although not recommended by Msians la. So it'd be good to have a Ringgit savings account just to park some funds there and convert when rates are favorable. Anyway we go JB relatively often, like once a month.

 

[commandowolf]

I only saw your past post talking about OCBC leh, never talk about CIMB.

Anyway I have CIMB SG (credit card only). I will enquire with them directly when I pass by their Raffles Place branch ba.

Yeah, because i dont have CIMB. Now applying haha. They dont entertain walk in, must do online appointment for the opening of Msia account.

Follow this guide can liao

 

[ZacharyA]

Yeah, because i dont have CIMB. Now applying haha. They dont entertain walk in, must do online appointment for the opening of Msia account.

Follow this guide can liao

Will check it out, thank you ser.

 

[ZacharyA]

https://www.cimb.com.sg/en/personal/help-support/rates-charges/fees-charges/accounts.html

@commandowolf , they got so many accounts. Which did you go for?