Poll: Predict the outcome of the U.S. presidential election (electoral college and after)

[hermespan]

I'll make this one short (in fact, I'll compose in Word because I just typed for 35 minutes and accidently pushed some button and everything disappeared - appears that in thaivisa if you go forwards for backwards it is deleted. Grr.)

See my upcoming post about taking cash out of canada to singapore and the lack of any hassles doing so - because presumably it was declared and wasn't millions. I worried over nothing. They were both easy and fast with Singapore being slightly even more so.

I am now in Singapore, enjoying the free Wifi, and researching where is the best place to stash my cash until I open a bank account - or god forbid can't get anyone to open one for me, and therefore have the same problem all-over but for longer.

The obvious choice is old friends who own their own places with empty fridges - I'll see who replies to emails and texts.

Second choice is the one our friend from Star Trek recommended - Cisco, a private security company. After getting the essential done first (a little SG cash from the not-the-very-best exchange booths at airport, and a SIM card) I called them and asked some questions as well as went on their website.

No problem being a tourist with residency.

She hadn't exactly lied to me, but she hadn't been entirely straighforward with me. Although it appears that they are a secure, private and establsihed firm - they don't welcome cash and in fact charge a premium price for doing so. I'll have to read if it is a technical violation of terms to stash cash as well, but by 'don't welcome cash' I mean in paying your bill with them.

They encourage something they call GIRO (wire transfer?) which means they have details of one of your bank accounts, and er... visa versa. In any case it is less private than cash.

At least it's better than more regulated nations where a person has to pay by traceable methods (part of this if practical for me, but much of it is purely ideological and political - I resent any government interferring in private business transactions that don't hurt anyone.)

A small box (3X10X24) is S$159 per year (with taxes S$170), but if one pays cash it is S$259. There is this $100 premium on all sizes, from extra-small (5X5X24) to extra-large (15X10X24). I called her for clarification and she verified this policy. I exprssed my astonishment as in Cambodia, Vietnam, and many other countries cash is given a discount rather than charged a premium. I didn't ask her why, but I presume it is because the state of Singapore requires more paperwork and monitoring on cash accounts. It costs CISCO more time therefore they pass that cost on to the customer. Quite reasonable actually. She said I could pay the non-premium price for my first year, but that after that (i.e. second year plus) would have to pay the preimum rate. By then, I will have presumably a Singapore bank account and will be less reluctant to have the private and public spheres inter-linked.

Oh, there are no options for short stay - one year is minimim, plus there is a S$100 key deposit. A friend's friddge is looking a lot more appealing!

Many things about CISCO's service look appealing - you get two keys, you can have a friend/relative signed on as access person, you can pay Cisco to open the box for you if you can't be present, for S$500 exra and two hours notice they will open the box after closing hours (24 hours).

The only thing I didn't get was why upgrading box costs zero but downgrading costs S$75. Doesn't this just encourage people to close an account and open a new one?

I still want to check if there are better value places such as banks of course. But I prefer the concept of non-bank related security boxes. But Ciscos does not insure contents. Perhaps not even banks do. How could they? It would be a hug cost.

more to come...

[hermespan]

According to my preliminary net research CSCO is a good deal. Not only do they have armed guards (maybe banks do too here though, or have better security in other ways) and claim to have had no security breeches, their rates are competitive to banks. But being able to go in at 9:30 pm is a big draw for me.

Two rates for CISCO are due to second year renewal cash versus bank transfer (see previous post)

- OCBC 3X 10 X 22 is $221.

- POSB 3 X 10 X 24 is S$180

- CISCO is 3 X 10 X 24 S$159/199

- DBS 3 X 10 X 24 is S$180

- RHB is weird in that it measures in cubic inches, but their rate ranges between S$0.30 a cubic inch (300 CI box) to S$0.15 per cubic inch (3000 ci box). So a RHB box is in line, in fact excatly the same price, as all the other banks.

- UOB I didn't check out yet.

But all the banks have what I find to be far too restrictive conditions - you have to have had an account with them for over a year, some sort of residency status and prove it, OCBC even requires a S$5000 on deposit with them. And who knows if they actually have any vacancies. This is all at the theory stage so far with me. I don't know how negotiable banks are about boxes. My guess is that they consider them a customer service.

The only advantage I can see for banks is no key deposit.

I never thought to ask if you can lock in yearly rates by paying in advance.

Edited April 2, 2012 by hermespan

[Soutpeel]

Why are you p*ssing about trying to get a safety box in Singapore for cash, just open a Bank account and deposit the cash in the account... or is this too simple ?

[Naam]

Why are you p*ssing about trying to get a safety box in Singapore for cash, just open a Bank account and deposit the cash in the account... or is this too simple ?

the OP mentioned twice "fridge" which indicates the money is hot and has to be stored in a steel box to cool down. stored in an account there's the danger it would burn the account ledger and/or the fingers of the counting cashier

[Naam]

more to come...

we can hardly wait to hear more. that applies especially to boxes measured in cubic inches.

a more precise description is also of big interest, e.g. the available colours of the boxes, thickness of walls, bottom and lid as well as the material and its tensile strength in kNm per cm² (megapascals will do too) and last not least up to which ºC fireproof.

hurry up. don't let us down!

[Soutpeel]

Why are you p*ssing about trying to get a safety box in Singapore for cash, just open a Bank account and deposit the cash in the account... or is this too simple ?

the OP mentioned twice "fridge" which indicates the money is hot and has to be stored in a steel box to cool down. stored in an account there's the danger it would burn the account ledger and/or the fingers of the counting cashier

Ah get it....for a minute I thought the OP was a James Bond type wannabe stashing emergency cash, passports and his secret agent toys in case he needs to make a quick get away through Singapore (after drinking Martini's at Raffles of course)

[Soutpeel]

more to come...

we can hardly wait to hear more. that applies especially to boxes measured in cubic inches.

a more precise description is also of big interest, e.g. the available colours of the boxes, thickness of walls, bottom and lid as well as the material and its tensile strength in kNm per cm² (megapascals will do too) and last not least up to which ºC fireproof.

hurry up. don't let us down!

I am waiting with baited breath for the next exciting installment, he may even mention what type of refrigerant is being used and the compressor capacity

[metisdead]

Jobs in Thailand, pre-employment, setup own business, investment and general business in Thailand.

As this is about safety boxes in Singapore and not Thailand related: