One thing I find good in Singapore companred to Malaysia is that they do not charge on interbank fund transfer (Most of the bank in Malaysia charges RM2 per transaction and transfer limit is RM5,000). And the transfer limit is up to SGD20,000, which most of the time shall not reach for normal employee like us. The limit in Malaysia is easily reach and troublesome to split our transfer into several days.
Nonetheless, Singapore's bank always required foreigner (not PR) like us to maintain at least SGD500 in our bank account in order not to be charge SGD2 per month. This shall make us think and survey properly to a suitable bank to put our money and focus on just one or two accounts. One more thing is the savings account normally has very low interest rate, keeping too many account and holding a lot of minimum saving amount is not a good practice in letting your money work hard for you.
Hence, to open a bank account, for Malaysia, remember to bring:
1) Your Malaysian IC and Passport
2) Your Singapore working pass (EP, S-Pass, Q-Pass, etc)
3) SGD500++ for your initial deposit
4) Handphone (for registering to Internet banking)
I have open my first Singapore bank account in POSB as the requirement of my company. But the interest rate really, really too little...You though in Malaysia the interest rate of 2.75% pa for FD (monthly) is very little, wait until I tell you how much is it for POSB bank.....For POSB Passbook saving account is 0.125% pa for the first SGD50,000. And by the way, it is even more less for monthly FD interest rate in Singapore for POSB, 0.1% pa for any amount!!! Can you imagine....I shall find one more bank in Singapore with a better interest rate to keep my saving in months to come (when I have more SGD cash, for minimum deposit)...(@-@)...