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Opening a bank account in a new country is never easy. The sign-up process might feel unfamiliar, the terms could seem foreign and the eligibility requirements could just get confusing.
However, as a foreigner in Singapore, you could benefit greatly from taking the time and effort to open a local bank account.
Non-residents can hold bank accounts in Singapore as long as they meet certain requirements and provide the necessary documents. These include:
Setting up a bank account in Singapore is quick and simple:
There are a few different types of bank accounts available in Singapore, so you first need to decide what type of account you want:
Now you know what type of account you want, it’s time to compare your options. Here are some of the features to consider:
Singapore bank accounts come with a few fees you need to watch out for, including:
You can apply for a current account in-person or online, depending on the bank. You will need the documents outlined above, including proof of ID and residency, and also be prepared to make an initial deposit (if applicable) into your account.
Here is a list of the most popular banks and savings accounts in Singapore:
*Information provided are accurate as of 1 May 2021.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
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