What are the requirements to open a bank account in Singapore?
Necessary documents to open a bank account in Singapore as a foreigner
- Proof of identity, such as a valid passport or national ID card.
- Proof of residence, including phone bills or utility bills.
- Employment Pass, S Pass, Student Pass or Dependent Pass depending on the situation.
How much do I need to open a bank account in Singapore?
Compare a range of banks accounts in Singapore
|Name||Monthly fee||Minimum Initial Deposit|
|OCBC Basic current account||S$0||S$1,000|
|Citibank Tap and Save Account||S$0||S$15,000|
Is it easy to open a bank account in Singapore?
This means that it should be relatively straightforward to open a bank account in Singapore as a non-resident. The easiest way is using your employment or study pass. As long as you have one of these and a valid form of ID, you should find it easy to apply for a bank account in Singapore.
What 4 things do you need to open a bank account?
What do I need to open a bank account?
- At least two forms of government-issued photo identification, such as a valid driver’s license or passport.
- Social security number or individual taxpayer identification number.
- Utility bill with current address information.
Can foreigner open bank account in Singapore without employment pass?
While an employment pass is generally required, you can still open a bank account without one. For example, UOB will consider applications from foreigners as long as they visit a branch to provide their documents. Digital banks are also great to consider as you do not have to provide proof of employment in Singapore.
What is the requirement to open a bank account?
To open a bank account at a branch you need to provide at least one form of photo ID and one proof of address. If opening the account online you require your passport book, a Selfie (picture of you) and proof of your address.
How much do I need to deposit to open a bank account?
If you do, opening an account at a bank or credit union is straightforward. The interest they pay for savings accounts You usually need to make an initial deposit between $25 and $100 to open a savings or checking account.
What is the minimum amount to open a bank account?
“Some accounts don’t require you to make a deposit right away, but others require $25 to $100.” Some accounts don’t require you to make a deposit right away, but others ask that you have $25 to $100 on hand to open one.
How much does it cost to open bank account?
Banks typically don’t charge fees to open a checking account. However if the bank requires a minimum deposit, you’ll need that money when you open. The required deposit can be at little as $25 or as high as a few hundred dollars for more premium accounts.
How long does it take to open a bank account in Singapore?
For applications made between Mondays to Saturdays, 0700 hr to 1900 hr, your account will be opened instantly. Beyond this period, account opening will take 2 working days (including Public Holidays).
Can a non Singaporean open a bank account in Singapore?
Online account application is only available for Singaporeans, Permanent Residents and Foreigners with valid Singapore work pass (e.g. employment / S pass) or student pass.
How much deposit do I need to open a DBS account?
No initial deposit required. No monthly account fees. If this is your first account with us, open online now and there will be no minimum average daily balance required. Service charge of S$5 if average daily balance falls below S$3,000 (based on total SGD equivalent of SGD & foreign currency balances).