Singapore Expats

Moving to Singapore. Need to know which bank would be better:
CitiBank Gold or
HSBC Premier

1. Less fees
2. Broad usage of ATMs
3. Intl wire transfer
4. Access to money

A search of the forum will yield better returns. It's been discussed ad nauseam and mostly a matter of personal opinion as everybody's requirements are slightly different as are each banks. One will cater a bit more in one direction while the another in a different direction.

chanthachhim wrote:Moving to Singapore. Need to know which bank would be better:
CitiBank Gold or
HSBC Premier

1. Less fees
2. Broad usage of ATMs
3. Intl wire transfer
4. Access to money

1) Citibank SG will have less fees than HSBC for most usage IMO. I left HSBC when I moved here and picked Citi (along with a local bank)

2) HSBC probably has more ATMs through-out Asia and Europe. Citi has quite a few also, but less overall than HSBC. The opposite is true in North America.

3) They both transfer. You can transfer between two Citi account instantly and in many cases, for no fees. You cannot do this with HSBC unless you have HSBC Premier. And if you have Premier (and the requisite six-figure deposit sitting in a local bank), do you really need to transfer money around that much?

4) I don't understand what this means. Neither bank is going to tell you "NO! you can't have your money"?

Like SMS said, just do searches for either bank name.

zzm9980 wrote:

chanthachhim wrote:Moving to Singapore. Need to know which bank would be better:
CitiBank Gold or
HSBC Premier

1. Less fees
2. Broad usage of ATMs
3. Intl wire transfer
4. Access to money

1) Citibank SG will have less fees than HSBC for most usage IMO. I left HSBC when I moved here and picked Citi (along with a local bank)

2) HSBC probably has more ATMs through-out Asia and Europe. Citi has quite a few also, but less overall than HSBC. The opposite is true in North America.

3) They both transfer. You can transfer between two Citi account instantly and in many cases, for no fees. You cannot do this with HSBC unless you have HSBC Premier. And if you have Premier (and the requisite six-figure deposit sitting in a local bank), do you really need to transfer money around that much?

4) I don't understand what this means. Neither bank is going to tell you "NO! you can't have your money"?

Like SMS said, just do searches for either bank name.

Regarding point 2, speaking in Singapore context, Citibank surely has more ATMs than HSBC. Almost every MRT has a Citibank ATM, the same cant be said about HSBC

Callput wrote:
Regarding point 2, speaking in Singapore context, Citibank surely has more ATMs than HSBC. Almost every MRT has a Citibank ATM, the same cant be said about HSBC

Citibank, ANZ, HSBC, Maybank, SBI Singapore and Standard Chartered all share an ATM network in Singapore. You can use any of them interchangeably.

zzm9980 wrote:

Callput wrote:
Regarding point 2, speaking in Singapore context, Citibank surely has more ATMs than HSBC. Almost every MRT has a Citibank ATM, the same cant be said about HSBC

Citibank, ANZ, HSBC, Maybank, SBI Singapore and Standard Chartered all share an ATM network in Singapore. You can use any of them interchangeably.

Wow! Didnt know this man.
I have an SCB account and ATM card but never really used it because no SCB atm near my house or office. But there is a Citibank ATM in my office, so now I have an option. Thanks for the info.

Callput wrote:

zzm9980 wrote:

Callput wrote:
Regarding point 2, speaking in Singapore context, Citibank surely has more ATMs than HSBC. Almost every MRT has a Citibank ATM, the same cant be said about HSBC

Citibank, ANZ, HSBC, Maybank, SBI Singapore and Standard Chartered all share an ATM network in Singapore. You can use any of them interchangeably.

Wow! Didnt know this man.
I have an SCB account and ATM card but never really used it because no SCB atm near my house or office. But there is a Citibank ATM in my office, so now I have an option. Thanks for the info.

Can also confirm the above is true.

My wife and I had StanChart accounts, and never had a problem finding an ATM. It is called the 'ATM5' network, you will see that logo sticker adhered prominently on the participating machines.

http://en.wikipedia.org/wiki/Atm⁵

Thanks JR8 for confirming!

Based on personal experience, I would steer clear of HSBC unless you plan to use their Collyer Quay (HQ) branch for all walk-in transactions. YMMV at other branches; in particular I found the staff at their Parkway Parade branch to be consistently inept.

So probably will look into a Citibank acct upon my arrival in Singapore. Thanks for your input.

What documents do they need in order to open an account in Singapore. Will just my passport suffice?

chanthachhim wrote:So probably will look into a Citibank acct upon my arrival in Singapore. Thanks for your input.

What documents do they need in order to open an account in Singapore. Will just my passport suffice?

Passport and your employment pass or in-prinicple approval letter.

You'll also need proof of income. A signed and stamped employment verification letter from HR is what I had. My HR gave me multiples on my first day.

I could open Citibank account with passport and principle approved letter
But they asked me to mail once my ep pass is made and also employment contract letter..
Then they asked for salary slips incase I want a credit card