Singapore Expats

Hello all,

Curious as to what peoples opinions are on banking in Singapore. Are there banks that are less customer focused than others. What are the networks like in terms of branches and ATM's and have people had any bad experiences with any of them.

Look forward to hearing from you all.

Regards.

My wife (SG citizen) recommends DBS. Trust her on that because she and her family has been through them all.

Remo909 wrote:Curious as to what peoples opinions are on banking in Singapore. Are there banks that are less customer focused than others. What are the networks like in terms of branches and ATM's and have people had any bad experiences with any of them.

are you fishing or looking for genuine information as an expat?

if it's the latter, where are you from?

Nice MK23 Taxi. Yours by any chance?

Thanks for the information re: DBS. When we move to Singapore I will be opening a DBS account. I checked out their ratings and they prove better than Australian banks..

Cheers

I've been here 2 months, and was recommended DBS by my recruiter. I opened a "savings plus" account, not really why I have a "savings plus" but the consultant there said it was the best. But I've had no issues. I get paid my monthly salary there, and can access my account online. Basically just a processing centre which works fine to pay my various other investments ans trasfer money inernationally. And the branch is 100 metres from my office. And there are two ATMs just outside my office, literally 25 metres from the entrance.

I'm happy.

Thanks for your input alittlerisky.

I am making sure that I do a lot of homework before we leave. I want to make sure that I do not arrive with issues when I get there.

Cheers all and I am sure that there will be more questions by me in the future so watch this space.

Cheers

oh... and is this normal... I can only use my DBS card to withdraw cash at DBS ATMs. I can use my foreign card at any machine, but my Singapore DBS only works at DBS machines. I thought that I should be able to get cash at any VISA mahine with the DBS card?

Wherever else I've lisved I'm always been able to get cash from any bank ATM as long the they had VISA or Mastercard logos...

alittlerisky wrote:oh... and is this normal... I can only use my DBS card to withdraw cash at DBS ATMs. I can use my foreign card at any machine, but my Singapore DBS only works at DBS machines. I thought that I should be able to get cash at any VISA mahine with the DBS card?

Wherever else I've lisved I'm always been able to get cash from any bank ATM as long the they had VISA or Mastercard logos...

Interesting side fact, will look into that. Thanks for letting me know

Remo909 wrote:Thanks for your input alittlerisky.

I am making sure that I do a lot of homework before we leave. I want to make sure that I do not arrive with issues when I get there.

Cheers all and I am sure that there will be more questions by me in the future so watch this space.

Cheers

Oh, and with DBS you don't even have deposit any money. You can open an account with $0. You just need a passport and address here, or ideally an EP or some other Singapore residence card/registration.

Take note for the fee.

http://www.dbs.com.sg/personal/deposit/ ... ement.page

The all-in-one account you need as a first step to set-up your finances in Singapore. You can credit your salary, apply for GIRO or pay bills with it. Come bundled with a debit card, iBanking and eStatement for easy and convenient access.
Eligibility and Requirement

For individuals aged 16 years old and above
No initial deposit required


Fees

S$2 fall-below fee if the average daily balance falls below S$1,000
S$2 ATM withdrawal fee will apply if the customer makes more than 4 ATM cash withdrawals in the month
S$2 fee will apply for each cash withdrawal at any DBS/POSB branch for amount within your ATM cash withdrawal limit
S$20 early account closure fee if the account is closed within 6 months

First time in SG I used DBS.

Second time around, my financial needs were more complex and so I used SCB (more 'international').

Both did what was needed of them.

Keep in mind that SCB (and others) are part of the 'ATM5' network
http://en.wikipedia.org/wiki/AtmâÂ

There are so many posts on this topic, just search.

I recommend Citi if you travel at all, or want the ability to send money to another country instantly, fee-free, and at non-extortion forex rates.

Citi also has some of the better CC promotions.

Lastly, DBS is *terrible* if you need to use an overseas ATM. I was in Hong Kong this weekend and went to an actual DBS ATM there. There is a three transaction limit before they shut off your card. You have to call and turn it back on. Even after that, it will still shut off again and they can't prevent that, so just keep them on the line.

Now why would I need to use the ATM so much? Because they ALSO have a $1000hkd max limit per transaction! That's ~$150sgd. Ridiculously low, especially in a place where so many people from SG visit to go shopping!

The only reason I was using my DBS acct anyway was because I forgot my Citi ATM card at home