USD currency account

[jamesloh777]

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!

 

[BBCWatcher]

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.

 

[final1]

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.

 

[jamesloh777]

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]

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