Singapore Expats

Some previous posts have given conflicting information, so appologies for bringing this subject up again. Is it possible for a non resident to open a bank account in Singapore and if so, which types?

Thankyou for taking the time to read this and for any replies that I may get,

Konsing

Let this be the definitive answer

It is possible. I've done it. March this year. Standard Chartered. Bring passport. I've even got a ATM card and an Internet banking option, which I've taken and which works like a charm.

I could even open a business account, though admittedly this would entail a lot more hassles. Nevertheless, the lady said can.

FYI: I'm from Holland.

Okay?

NBB

You have to have a work permit or an employment pass, though.

With a Dependent pass or a Long term social visit pass they will not allow you to open an account.

Dear DespeRuth,

I don't know why you would say that. Who is "they"?

Please make sure you know for certain what you post before you post. Your advice to this forum's visitors will be taken to heart, as they assume you to be in the know.

As I said in my previous post, I opened my account on nothing more than a 30 day tourist visa. I've been using it since (been back to Singapore for a few weeks since March). I've even used the Online Banking module.

No PR or EP required.

Konsing, let me know if you require more info.

NBB

I opened an account with HSBC no problem and I hadn't even received my employment pass at the time. I simply got a letter from my employer verifying my work status and earnings. You also need to provide official verification of your place of residence. I simply got a letter from the reception of my Serviced Apartment stating I was staying there (note it must actually state the room number).
And wayhay a bank account with debit card and internet facilities.
Downside of this account is that you have to maintain a minimum amount in your account or you are penalised. I think its $2000 for savings account (this is a current account without a cheque book but it does have a debit card/atm card) or $5000 in a current account (you get a chequebook). Also downside with HSBC is lack of ATMS and hefty charges for using non HSBS/Maybank/Standard Chartered machines.

DBS insist upon a FIN Number i.e employment pass/work permit or a letter from a Singaporean DBS account holder supporting your application would also allow you to open an account. I have been recommended to open a DBS account as they seem to have the most ATMs around the place.

Hope this helps

Thought I'd resurrect this ancient thread since I've been dealing with trying to open a bank account for the past week. My wife is working here at a MNC on an EP and I have kept my job in the US and am in Singapore on a dependent pass.

What I've found is that the local banks I visited (DBS/POSB, OCBC, UOB) will not open accounts for foreigners here on a dependent pass. I was, however, able to open an account with Citibank quite easily and have also heard that HSBC and other international banks will happily do the same. All I had to produce was my Passport and DP card although I'm not sure the latter is necessary.

The drawback with an international account is that it's not tied in to the NETS system and ATMs are scarcer, especially out in the Heartland. And yes, I'm aware of the ATM5 network.

HTH.

ok, this is a definitive answer for a non-resident openning a bank account with DBS. what you need is a passport and an existing DBS customer who is a PR or singapore resident. basically they are recommending you to open an account. once you got the paper work, you can open an account on the same day and issue with an ATM card.