Can anyone open a bank account in Singapore?

Can a non Singaporean open a bank account in Singapore?

There’s no legal reason why you can’t open a bank account in Singapore as a visitor, student or holding a Dependent pass. … UOB state that they consider applications from foreigners who are not working or studying in Singapore, as long as you can attend a branch in person to provide documents.

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.

How much do you need to open a bank account in Singapore?

Additionally, most bank accounts in Singapore require a minimum initial deposit. This amount varies depending on the bank and account type and falls anywhere between S$500.00 and S$5,000.00.

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Can anybody open a bank account?

First, you need to make sure you’re eligible to open a bank account. You need to be at least 18 years old to open an account. However, you can open a joint account as a minor with a parent or legal guardian as an account co-owner. Some banks do offer accounts tailored for minors.

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).

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.

Can a foreigner have a bank account in Singapore?

Whether you are living overseas or a non-resident in Singapore, you can still open a personal bank account in Singapore without having to visit Singapore. However, the foreign or non-resident business owners need to visit the banks to open corporate bank account in Singapore.

What do I need to open an account in Singapore?

What documents are required for account opening?

  1. Identification Document. Provide front and back of NRIC.
  2. Proof of Residential Address* Provide the latest copy (within last 3 months) of any of the items below: Local utility bill. Local telecommunication bill. Local bank statement/credit card statement.

Can I open bank account with passport?

Identification Requirements

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You must present a valid form of photo identification when you open a checking account. When you seek to open a new account, the bank is required by law to obtain a valid form of photo ID. … The passport must be valid and not expired in order to use it to open a checking account.

What does a foreigner need to open a bank account?

A valid passport. A valid proof of residence.

Non-residents will need the following documentation:

  • A valid passport.
  • Address of your current residence.
  • Three months’ bank statements from your previous country’s bank, showing the activity on the account.

How much do you need to open a UOB account?

Requirement and fees

Eligibility 15 years and above
Initial Deposit S$500 for S’poreans & SPRs S$1,000 for foreigners
Min. Avg. Daily Bal S$500
Min. Bal Fee S$2
Monthly Svc. Charge N.A.

Can US citizens open a bank account in Singapore?

Most importantly, it’s extremely easy for non-residents to open a bank account in Singapore. Most institutions welcome non-resident customers of all sizes. … However, at present it seems that most major banks in Singapore will still open accounts for US residents and citizens.