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ExpatSingapore Message Board 28 May 2012, 3:22:01 am *
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Author Topic: How to bring money in from US to open a local account?  (Read 2121 times)
bankers answer
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« Reply #30 on: 02 April 2011, 1:09:40 am »
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I've decided, though, that to first open the local Singapore account I'll get a "foreign draft" from my bank -- just found out Wells Fargo can do it, costs US$35, and it will be in Sing. $ drawn on an OCBC account that WF has. I had been told in the past that this was not possible, but I called around and finally found a branch manager who was knowledgeable about international stuff (at their International Branch - apparently they have special branches that carry a lot of foreign currency and can do foreign drafts. Otherwise WF is really more of a neighborhood bank).


Again, not all bankers are created equally. In some instances what one knows the other 99 don't...
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« Reply #30 on: 02 April 2011, 1:09:40 am »
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Cash Is King
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« Reply #31 on: 02 April 2011, 16:14:41 pm »
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US$20k is not a lot of money (seriously!!).  It's only 200 pieces of US$100.  Bring new and crisp notes.  Carry them in your hand-carry bag.  The guys at the Arcade change $$ in millions of dollars each day.  With S$ forecast to strengthen to S$1.19/US$1 by year-end, best to change more now.  You will not get a better rate than at the money-changer (in S'pore's context anyway).
 
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