Opening a Bank Account in Singapore

Understand what is required to open a bank account in Singapore...

It is advisable to get a reference from a company or home country banker to speed up the process of opening an account in Singapore. Call the bank before going in and ask what documents they'll require. Most banks need to see a passport and proof of mailing address, for example a utility bill or a tenancy agreement.

Permanent residents and those on employment passes can open a bank account fairly easily. Spouses and dependants may not be able to open an account by themselves. Non-residents can open a bank account in some, generally private, banks and this is subject to the bank's approval.

Joint accounts

Operating a joint account allows the partner to operate and even close the account in case of an emergency.

Savings Account

Savings accounts are a product offered by most banks. The most basic feature allows saver to earn interest on deposits. Most, if not all savings accounts, also facilitate fund transfers between banks and within banks but across international locations.

Further Information

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Picture courtesy of Jake Rustenhoven