What bank should I use in Singapore?

Which bank account is best for expats in Singapore?

OCBC. The last local bank to consider for expat banking in Singapore is OCBC. This is another of the largest banks in Singapore, which offers a choice of basic and interest-earning accounts. If you only need a simple everyday account, the OCBC Current Account³ could be the best choice.

Can foreigner set up bank account in Singapore?

If you are a foreigner or not a resident of Singapore, then you can still open a bank account without any trouble. … To open a bank account as a foreigner in Singapore you’ll need: Proof of Identity (Passport or ID card) Proof of Address (Utility bills, etc.)

Are banks in Singapore safe?

Singapore’s banking system is known to be safe and well regulated. MAS has rules to ensure that banks and finance companies are well managed, well capitalised and have enough liquidity to meet any unforeseen needs. Deposit insurance is just another layer of protection for small depositors.

Which banks have headquarters in Singapore?

Full banks

Local Full Bank Local address
English Other languages
Bank of Singapore (part of OCBC Bank) 新加坡银行 63 Market Street
DBS Bank Limited 星展银行有限公司 12 Marina Boulevard
POSB (part of DBS Bank) 新加坡邮政储蓄银行 12 Marina Boulevard

What is best bank in Singapore for foreigners and expats?

3. The top 6 banks in Singapore for foreigners

  • DBS (Development Bank of Singapore) and POSB.
  • United Overseas Bank (UOB)
  • Overseas Chinese Banking Corporation (OCBC)
  • Citibank.
  • The Hong Kong and Shanghai Banking Corporation Limited (HSBC)
  • Standard Chartered.

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
HSBC Everyday Global Account (EGA) S$0 S$2,000
CIMB Foreign Currency Current Account S$1 S$1,000
OCBC Basic current account S$0 S$1,000
UOB i-ACCOUNT S$2 S$3,000

Can foreigner open Maybank account in Singapore?


S$1,000 (Foreigners) S$0 (Foreigners with Work Permit)

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