HWZ Forums

Login Register FAQ Mark Forums Read

USD currency account

Reply
 
LinkBack Thread Tools
Old 12-07-2018, 02:32 PM   #1
Junior Member
 
Join Date: Jun 2018
Posts: 10
USD currency account

Hi all - i would to seek advice on USD currency account in Singapore. I need to do alot of inward transfer in USD to Singapore.

What's the best account that i can utilize over here in Singapore?

I open up a Stan Chard USD currency account, but i was charged USD7 for merely a USD100 transfer.

thanks!
jamesloh777 is offline   Reply With Quote
Old 12-07-2018, 03:08 PM   #2
Master Member
 
Join Date: Jun 2010
Posts: 4,683
Hi all - i would to seek advice on USD currency account in Singapore.
The best advice: don't.

I need to do alot of inward transfer in USD to Singapore.
Why is that? If we understand the reason why you want to land a foreign currency in Singapore, then we can likely advise you on the best approach for handling it.
BBCWatcher is online now   Reply With Quote
Old 12-07-2018, 05:01 PM   #3
Senior Member
 
Join Date: Nov 2005
Posts: 1,553
Citibank USD account.
Cimb USD account.
Free inward TT.
Thank me later. Please note interest is negligible or none on either account.
If you want interest, Maybank USD account but inward tt is not free.
Lastly, the 2 banks I stated have no charges for inward tt. But, you are still liable for intermediary bank charges if any and it is not in within your or the 2 banks control.

Oh, and if you can't meet citibanks minimum requirement, you are only left with cimb.
I guess that sort of makes the choice easier.

Last edited by final1; 12-07-2018 at 05:04 PM..
final1 is offline   Reply With Quote
Old 13-07-2018, 10:21 AM   #4
Junior Member
 
Join Date: Jun 2018
Posts: 10
The best advice: don't.


Why is that? If we understand the reason why you want to land a foreign currency in Singapore, then we can likely advise you on the best approach for handling it.
Hi BBCWatcher - thanks for ur response. This is due to i trade with Interactive Broker, and also my company give me stock which is with UBS account (US based), so once in a while i need to transfer USD back to Singapore. thanks!
jamesloh777 is offline   Reply With Quote
Old 13-07-2018, 10:22 AM   #5
Junior Member
 
Join Date: Jun 2018
Posts: 10
Citibank USD account.
Cimb USD account.
Free inward TT.
Thank me later. Please note interest is negligible or none on either account.
If you want interest, Maybank USD account but inward tt is not free.
Lastly, the 2 banks I stated have no charges for inward tt. But, you are still liable for intermediary bank charges if any and it is not in within your or the 2 banks control.

Oh, and if you can't meet citibanks minimum requirement, you are only left with cimb.
I guess that sort of makes the choice easier.
thanks so much bro, really appreciate the sharing, i will explore more on citibank and cimb
jamesloh777 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On