Singapore Expats

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Can you open a joint account to start with?

smoulder wrote: ↑

Wed, 23 Mar 2022 11:55 am

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Can you open a joint account to start with?

Thank you for suggestion. That sounds doable. Was wondering on my end maybe an insurance cover

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Let me guess. UOB?

JWNYsg wrote: ↑

Wed, 23 Mar 2022 12:06 pm

smoulder wrote: ↑

Wed, 23 Mar 2022 11:55 am

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Can you open a joint account to start with?

Thank you for suggestion. That sounds doable. Was wondering on my end maybe an insurance cover

Hi JWNYsg

Congrats on the success of your wife’s LTVP. Since ICA requested you and your wife to submit extra docs and to sign the Terms & Conditions of Issue, how long did you get the official approval and move on to the appointment making stage?

My husband and I have got the In-principle Approval 2 weeks ago and were asked to submit the T&Cs of Issue, but no responses until now. Though understanding from MOCHS that it takes weeks to pass this “documents received- receiving attention” stage.

^ If you checked the past few pages, you’ll see that JWNYsg applied LTVP for his spouse since Dec 2021 and was only finally approved this month. It is within the timeframe of 6 weeks to 6 months. Just have to keep waiting…

malcontent wrote: ↑

Wed, 23 Mar 2022 2:34 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Let me guess. UOB?

Blasphemy! OCBC is the safest bank in the world

TrucHuynh wrote: ↑

Wed, 23 Mar 2022 3:51 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 12:06 pm

smoulder wrote: ↑

Wed, 23 Mar 2022 11:55 am

Can you open a joint account to start with?

Thank you for suggestion. That sounds doable. Was wondering on my end maybe an insurance cover

Hi JWNYsg

Congrats on the success of your wife’s LTVP. Since ICA requested you and your wife to submit extra docs and to sign the Terms & Conditions of Issue, how long did you get the official approval and move on to the appointment making stage?

My husband and I have got the In-principle Approval 2 weeks ago and were asked to submit the T&Cs of Issue, but no responses until now. Though understanding from MOCHS that it takes weeks to pass this “documents received- receiving attention” stage.

After the medical check up and signed documents. About couple of weeks.

First time applying and got 3 years LTVP+

We have been married about 5 years. Overseas certificate

Good luck to you

From what I understand, if the couple is married for more than 3 years, it’s a LTVP+. Though I have seen cases where they only give 1 year LTVP even if married more than 3 years.

If married less than a year like me & my foreigner hubby during the first application, it will be valid for a year. Hubby got a 2 year LTVP for the second renewal after we got married for 2 years lol.

JWNYsg wrote: ↑

Wed, 23 Mar 2022 6:22 pm

malcontent wrote: ↑

Wed, 23 Mar 2022 2:34 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 11:42 am

Hi everyone

Got the LTVP+ for 3 years. Happy with outcome overall

I’m in a small pickle now. My Mrs is a domestic engineer. She has no bills under her name as all are paid by me. Wanted to open a bank account with her FIN number but MAS requirements need a proof of address?

Anyone has had similar encounter? Many thanks as always

Let me guess. UOB?

Blasphemy! OCBC is the safest bank in the world

OCBC has always been the most “fast and loose” among the 3, last time they opened an account for me with just a SVP — I’m sure they won’t do that today with all the nasty KYC stuff post-911. But they are the most gangster of the 3, once they changed the T&C on my account and didn’t tell me, charged me a fee and refuse to waive.

UOB is famous for unnecessary paperwork and going beyond stickler for meaningless details, but often the right hand doesn’t know what the left hand is doing. Also, you ask one question to different people and get different answers, all try to act smart even they dunno.

DBS is slow and tedious, but they are at least practical and reliable about most things, despite being the least flexible of the 3. It’s like dealing with a government agency. You can just have to learn how to be the round peg to fit in their round hole. Square cannot.

malcontent wrote: ↑

Wed, 23 Mar 2022 7:47 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 6:22 pm

malcontent wrote: ↑

Wed, 23 Mar 2022 2:34 pm

Let me guess. UOB?

Blasphemy! OCBC is the safest bank in the world

OCBC has always been the most “fast and loose” among the 3, last time they opened an account for me with just a SVP — I’m sure they won’t do that today with all the nasty KYC stuff post-911. But they are the most gangster of the 3, once they changed the T&C on my account and didn’t tell me, charged me a fee and refuse to waive.

UOB is famous for unnecessary paperwork and going beyond stickler for meaningless details, but often the right hand doesn’t know what the left hand is doing. Also, you ask one question to different people and get different answers, all try to act smart even they dunno.

DBS is slow and tedious, but they are at least practical and reliable about most things, despite being the least flexible of the 3. It’s like dealing with a government agency. You can just have to learn how to be the round peg to fit in their round hole. Square cannot.

I work for one of these 3 banks. I won't say which one lol. As an employee, I am not quite happy with what I see when I go to the branch.

Having said that, there's the other side which is the amount of work we do along with the business units to do away with processes that involve humans and their inefficiencies. IT systems that automate even things like customer on boarding and loans and generally make the customer experience more seamless as long as the customer is willing to use his mobile phone instead of going to the branch. And I will say that the banks are making some progress. So maybe you guys need to stop being so old school

smoulder wrote: ↑

Wed, 23 Mar 2022 9:47 pm

malcontent wrote: ↑

Wed, 23 Mar 2022 7:47 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 6:22 pm

Blasphemy! OCBC is the safest bank in the world

OCBC has always been the most “fast and loose” among the 3, last time they opened an account for me with just a SVP — I’m sure they won’t do that today with all the nasty KYC stuff post-911. But they are the most gangster of the 3, once they changed the T&C on my account and didn’t tell me, charged me a fee and refuse to waive.

UOB is famous for unnecessary paperwork and going beyond stickler for meaningless details, but often the right hand doesn’t know what the left hand is doing. Also, you ask one question to different people and get different answers, all try to act smart even they dunno.

DBS is slow and tedious, but they are at least practical and reliable about most things, despite being the least flexible of the 3. It’s like dealing with a government agency. You can just have to learn how to be the round peg to fit in their round hole. Square cannot.

I work for one of these 3 banks. I won't say which one lol. As an employee, I am not quite happy with what I see when I go to the branch.

Having said that, there's the other side which is the amount of work we do along with the business units to do away with processes that involve humans and their inefficiencies. IT systems that automate even things like customer on boarding and loans and generally make the customer experience more seamless as long as the customer is willing to use his mobile phone instead of going to the branch. And I will say that the banks are making some progress. So maybe you guys need to stop being so old school

I don’t disagree with you

smoulder wrote: ↑

Wed, 23 Mar 2022 9:47 pm

malcontent wrote: ↑

Wed, 23 Mar 2022 7:47 pm

JWNYsg wrote: ↑

Wed, 23 Mar 2022 6:22 pm

Blasphemy! OCBC is the safest bank in the world

OCBC has always been the most “fast and loose” among the 3, last time they opened an account for me with just a SVP — I’m sure they won’t do that today with all the nasty KYC stuff post-911. But they are the most gangster of the 3, once they changed the T&C on my account and didn’t tell me, charged me a fee and refuse to waive.

UOB is famous for unnecessary paperwork and going beyond stickler for meaningless details, but often the right hand doesn’t know what the left hand is doing. Also, you ask one question to different people and get different answers, all try to act smart even they dunno.

DBS is slow and tedious, but they are at least practical and reliable about most things, despite being the least flexible of the 3. It’s like dealing with a government agency. You can just have to learn how to be the round peg to fit in their round hole. Square cannot.

I work for one of these 3 banks. I won't say which one lol. As an employee, I am not quite happy with what I see when I go to the branch.

Having said that, there's the other side which is the amount of work we do along with the business units to do away with processes that involve humans and their inefficiencies. IT systems that automate even things like customer on boarding and loans and generally make the customer experience more seamless as long as the customer is willing to use his mobile phone instead of going to the branch. And I will say that the banks are making some progress. So maybe you guys need to stop being so old school

Is that why they still have passbooks here? Old school customers? I hadn’t seen a passbook since I was a very young kid and was shocked that they still have them here… nothing short of astounding.

But I don’t deny progress is being made. The SMS queuing at DBS is huge. I can get a Q number well before I leave and it’s close to my turn when I arrive at the bank. For me, that is real progress that is tangible.

However, I almost never need to visit a branch anymore. I used to regularly get a USD demand draft issued which was once the cheapest way to transfer money to the US. Once the DD was issued, I can deposit it instantly using my phone’s camera and the money will be in my US account the very next day. Hmmm, I wonder if a local bank that can do that?

Nowadays I just use Wise, it’s slightly better than DD or even the “free” TT offered by DBS (they get you on the FX rate). Wise charges roughly 0.5% including both the exchange (versus spot) and the transfer. DBS board rate is right at 0.6% for USD plus 1/8% for the DD, but even the free TT is worse than Wise because of the 0.6%.

I think the neo-banks are coming, they have some pretty slick features and apps. Also, when you see the stuff that M1 Finance is doing, wow, that is really taking it to the next level. We’ll have to see if the big banks can keep up!

Cheques. Yes you are right. It's for the older generation who stubbornly hold on to them.

Yes, the fintechs, they are new, nimble and without the weight of legacy systems and processes. They are definitely disruptive in the banking sector. The banks do have their hands full trying to keep up and stay competitive.

Anyway, we are digressing here

I hope the gentleman finds a way to open a bank account for his wife

smoulder wrote: ↑

Wed, 23 Mar 2022 11:15 pm

Anyway, we are digressing here

I hope the gentleman finds a way to open a bank account for his wife

Maybe the bank would allow him to add her as a joint owner on his account? And then she’d have proof of address on the statement once that happens.

Honestly, I’ve had this exact issue myself. Even though I’ve been here for decades I’ve always used my office address and my wife has all the household bills in her name because as a PR she doesn’t have to pay a deposit. When my company switched their company credit card over to UOB, I applied but they wouldn’t accept my office address… but I had nothing to prove my residential address. After a bunch of back and forth, they finally gave up and refused to issue me a card, then Covid hit and I haven’t needed one anyway, but eventually I will need to reapply. I dread that day.

A prime example of how UOB can be a real stickler, one person at my office recounted her experience applying for this stupid card - under citizenship she had put Singaporean, and they rejected her application… she was supposed to put Singapore Citizen instead, and so she had to fill out a whole new application! To me, that is just wacko! But that is UOB!