The Malaysian dollar has slid from 3.09 in September last year to 3.19 today, a drop of more than 3% against the Singapore dollar. If you are not confident about the future of the Malaysian currency, you can open a Singapore bank account.
CIMB Singapore offers Malaysians the convenience of opening a bank account by going online and opening an account with CIMB Singapore.
After visiting CIMB Singapore’s official website (I won’t include the link here), find CIMB Fastsaver Account and select Apply Now, then follow the instructions to complete the application.
Due to the large number of applications received, the application and review process may take some time. You may also receive a call from CIMB to verify your application. You will also be required to send a starting fund of S$1,000 when opening your account, along with your passport and additional documents.
If you are worried that it is not safe to open a bank account online, then going directly to the bank counter to open an account is the best option, which is safe and fast.
The advantage of opening a Singapore bank account is that SGD is more valuable than RM and there are many foreign investment platforms that accept SGD remittances but not RM.
Of course, opening a Singapore bank account can only preserve the value of your savings, learning to invest is the only way to truly increase the value of your savings.
The information is for reference only and there is no investment or trading advice.
