⁵If you have the right paperwork to hand, and can visit a branch in person, you’ll be able to open an account with most of the major banks in Singapore. Your worker does not need to collect the card from the POSB Account … Choose Bank Account on the left menu. Part of: Guides > Your Guide to digibank Online. Having a global bank account will benefit international travelers who need access to their funds readily around the world. UOB state that each application is considered individually, so you’ll need to gather the documents required and head to a branch to make your application.⁶If you’re headed to Singapore to live, work or study - or simply make frequent visits there, you might be wondering if it’s possible for a foreigner to open a bank account in Singapore. To open a new bank account in POSB, you can visit any POSB branch in Singapore with your NRIC or simply apply instantly online. We may receive compensation from our partners for placement of their products or services. Each bank decides its own eligibility rules, so you’ll need to invest some time in researching the options based on your situation. After working in digital marketing with multiple Fintech startups, she acquired a strong love for everything related to finance. It’s worth doing some research to find the right bank for your needs.
Necessary documents to open a bank account in Singapore as a foreigner. However, if you travel frequently, send money home, or receive income in multiple currencies, an account with a local Singaporean bank might not be your best option.Check out the range of documents requested for the account you want to open, to see if you’re able to comply with the OCBC rules.If you’re a regular visitor to Singapore, but do not live or work there, you may be able to apply for an account with UOB by attending a meeting in person at a UOB branch.
The first thing you need to keep in mind is the paperwork involved in opening an account, whether you are a foreigner or a resident of Singapore. Most of the products are available to foreign customers - the exception being the DBS Multi-currency Autosave account which is offered only to Singaporean citizens and permanent residents.³Singapore is a global banking hub, with many major banks represented there. Trisha is currently pursuing higher education in economics and computer science, using her knowledge to provide a millennial perspective on modern finance.Current accounts are intended for convenient day-to-day payments, such as paying bills, spending on petrol or grocery expenditure. The most convenient method would be via digibank Online or digibank Mobile. Provide valid Passport (biodata); For Malaysian - Malaysian IC Dependent/Long term visit pass ; Proof of Residential Address Provide the latest copy (within last 3 months) of any of the items below: If you’re a foreigner living in Singapore with an Employment Pass, S Pass or Dependant Pass, you’ll be able to choose from a range of UOB accounts. In light of the benefits listed above, holding both a Singapore and foreign bank account is a viable option that could give you even greater flexibility with your spending. Each bank has its own process for opening accounts, so the exact documents required may vary slightly depending on the bank you select. Current accounts, for example, may be opened without a credit check.