Quick Answer: Can foreigner open POSB bank account in Singapore?

Can a non Singaporean open a bank account in Singapore?

If you are a foreigner or not a resident of Singapore, then you can still open a bank account without any trouble. … To open a bank account as a foreigner in Singapore you’ll need: Proof of Identity (Passport or ID card) Proof of Address (Utility bills, etc.)

Can foreigners open bank account Singapore?

Whether you are living overseas or a non-resident in Singapore, you can still open a personal bank account in Singapore without having to visit Singapore. However, the foreign or non-resident business owners need to visit the banks to open corporate bank account in Singapore.

How much do I need to open a POSB account?

“How much to open a POSB savings account” is a popular question you might have. Most of the accounts don’t require any minimum amount to open but you need to take note that some accounts do charge a fall-below fee. So, keep a minimum balance of $500 in your POSB savings account after the account is opened.

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Can I open POSB account online?

To apply for a new personal account online, simply login with your ATM/Debit Card & Pin or digiBank (online/mobile) for instant application. Alternatively, apply for a new joint-alternate account online and upload the required documents for both applicants respectively.

How much do I need to open a bank account in Singapore?

Compare a range of banks accounts in Singapore

Name Monthly fee Minimum Initial Deposit
OCBC Basic current account S$0 S$1,000
UOB i-ACCOUNT S$2 S$3,000
Citibank Tap and Save Account S$0 S$15,000
SC SuperSalary S$0 S$0

Can foreigner open Maybank account in Singapore?


S$500 (Singapore Citizens or Singapore Permanent Residents) S$500 (Malaysia Citizens with Work Permit) S$1,000 (Foreigners)

Can a foreigner open a bank account in Singapore online?

Online account application is only available for Singaporeans, Permanent Residents and Foreigners with valid Singapore work pass (e.g. employment / S pass) or student pass.

How can a foreigner open a POSB account?

Foreigner (Dependent/Long term visit pass)

  1. Identification Document. Provide valid Passport (biodata) For Malaysian – Provide front and back of Malaysian IC.
  2. Dependent/Long term visit pass.
  3. Proof of Residential Address. Provide the latest copy (within last 3 months) of any of the items below: Local utility bill.

Can I open an offshore bank account in Singapore?

Singapore has consistently ranked as one of the most stable banking jurisdiction to open an offshore bank account and together with its renowned service and expertise it’s not hard to understand why.

How much deposit do I need to open a UOB account?

Requirement and fees

Eligibility 15 years and above
Initial Deposit S$500 for S’poreans & SPRs S$1,000 for foreigners
Min. Avg. Daily Bal S$500
Min. Bal Fee S$2
Monthly Svc. Charge N.A.
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Which POSB account has no fall below fee?

Minimum Balance and Fall Below Fee

POSB Savings Accounts Minimum Balance – Daily Average Fall Below Fee (per month)
POSB Smiley CDA S$0 S$0
POSB My Account S$0 S$0
POSB eMySavings S$0 S$0

What is the minimum age to open a bank account in Singapore?

What is the minimum age to open a bank account in Singapore. One can open a time deposit or current account in Singapore at the age of 18 years old. However , you may also open a savings account at the age of 15 years. Parents or kids guardians are also allowed to open accounts on behalf of those aged below 18.