Singapore Expats

Will open a checking account for a non citizen, non PR, or non EP?

If I am correct I know someone in that case and he has an account with HSBC.

Strong Eagle wrote:Will open a checking account for a non citizen, non PR, or non EP?

I know for a fact that Citibank will open a checking account for you if you deposit a minimum amount of USD20K or currency equivalent.

Oriental wrote:

Strong Eagle wrote:Will open a checking account for a non citizen, non PR, or non EP?

I know for a fact that Citibank will open a checking account for you if you deposit a minimum amount of USD20K or currency equivalent.

I just want to know when will we see you again Oriental?!!!!!!

Not sure about an local account.

Everybody is eligible to open an international account with basis of your passport and the country you reside that allows to hold the account when travelling in different countries and staying there for a while.

Can request the bank to have a temporary correspondence change to be redirected.

You shall also be holding an Debit card instead of an normal ATM card as this is an international account and the daily currency rate shall be synchornized with the base currency in which the account was started.

cheers

I need a SGD denominated account. I have found that UOB will open such an account for the gentleman with an introducer... me... since I keep my company accounts there.

sapphire wrote:I just want to know when will we see you again Oriental?!!!!!!

Hi Sapphire, Great to hear from you. I'll be joining one of the upcoming events as soon as I have settled in properly and gotten over the jetlag. I look forward to see you and the rest of the gang

Strong Eagle wrote:I need a SGD denominated account. I have found that UOB will open such an account for the gentleman with an introducer... me... since I keep my company accounts there.

To be a bit more specific I can inform you that the Citibank account actually comprises of 3 accounts in one. You have the choice of keeping your deposits in USD, EUR and SGD or all 3 at the same time for that matter. If you require a check book you can just link it to the SGD “sub”

Oriental wrote:

sapphire wrote:I just want to know when will we see you again Oriental?!!!!!!

Hi Sapphire, Great to hear from you. I'll be joining one of the upcoming events as soon as I have settled in properly and gotten over the jetlag. I look forward to see you and the rest of the gang

Hi! Cool, see ya soon. Maybe at one of the WNDCs? Oh and can you pm me your email address please? Looking forward to seeing you two.

Ok, no more hijacking of SE's thread.

Oriental wrote:

Strong Eagle wrote:I need a SGD denominated account. I have found that UOB will open such an account for the gentleman with an introducer... me... since I keep my company accounts there.

To be a bit more specific I can inform you that the Citibank account actually comprises of 3 accounts in one. You have the choice of keeping your deposits in USD, EUR and SGD or all 3 at the same time for that matter. If you require a check book you can just link it to the SGD “sub”

Strong Eagle wrote:I checked out Citibank account. Minimum balance of US $20,000 or US $30 service charge per month. Can't figure out what good it does. You still move money at normal exchange rates... get paid in Sing $$, have account in US $$, pay the rate... plus the usual fees. No auto link of a USD denominated account with a US account for example.

So, perhaps I am missing something but I have no idea why I'd pay such fees and keep such a high balance when an SGD demoninated account at UOB has a S $10,000 min (US $6,000) and a fee of $7 (I think) if you bust minimums.

I'll check out the UOB deal, as it does look much more inviting.

However, I feel obliged to tell you that when I choose to open an account with Citibank I had previously approached a number of local banks, which were unable to be of service, being that I was here on a tourist visa. Citibank on the other hand had my account up and running in ten minutes.

As a newcomer one faces an extraordinary high degree of bounded rationality. It is under these conditions that I make decisions and of course the decisions are most likely to be far from optimal. But I have found this website to be an effective tool in reducing uncertainty and the information and good advice from you, SE, and others to be most helpful.

And good advice from you as well, Oriental.

I think the difference between the accounts is that Citibank will open an account if you show up with a passport, whereas the UOB account requires an "Introducer", someone who has had an account with the bank for at least 6 months. Fortunately, my company banks there... so problem solved.