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Bank account for Domestic Helper

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zzm9980
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Bank account for Domestic Helper

Post by zzm9980 » Tue, 26 Feb 2019 1:49 pm

Hi

Years ago I know that POSB offered savings accounts for Domestic Helpers and other WP holders as long as a mininum balance of $500 was maintained. I did a bit of Googling and I can't find it anymore. All i see is some POSB account that must be opened via MOM and that has extortionary ATM fees, at least for a DH.

This one ->
https://www.posb.com.sg/personal/deposi ... ll-account


Is anyone else aware of a simple account (with ATM access) in Singapore than a domestic helper can obtain, preferably on their own without the employer needing to be present or sign anything?

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abbby
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Re: Bank account for Domestic Helper

Post by abbby » Mon, 09 Sep 2019 9:43 pm

Have you checked? I would like to know more too..can domestic helpers have bank accounts with DBS/POSB? It would be more convenient that passing them cash every month.
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sundaymorningstaple
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Re: Bank account for Domestic Helper

Post by sundaymorningstaple » Mon, 09 Sep 2019 9:50 pm

Yes, DBS/POSB have a special account for domestic workers. I had my helper open one so that I didn't have to keep withdrawing and giving cash to her. Also makes it easier for her as well.

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Re: Bank account for Domestic Helper

Post by nextlife01 » Fri, 29 Nov 2019 5:06 pm

OCBC
- Monthly Savings Account has a minimum monthly balance of S$50 for foreign workers who are S pass or employment pass holders. FDW to open a monthly savings account with OCBC requires to maintain a minimum monthly amount of S$1,000 or more or else a charge of S$2 is imposed by the bank.

POSB Payroll Account (FDW)
- Offered by DBS Bank also does not require an initial deposit. There is also no minimum average daily balance to be maintained each month (refer to notes for terms and conditions). For work permit applications submitted from 7 October 2018, employers of domestic workers can apply for the POSB Payroll Account (FDW) on their maid’s behalf when they request for issuance of a work permit via mom.gov.sg/fdw-eservices.

The Centre of Domestic Employees also assists foreign domestic workers to open a POSB Payroll Account (FDW). The account opening is facilitated at the CDE’s branches.

There are other banks in Singapore offering saving accounts with a low minimum average daily balance. Alternatively, you can check with your bank to see if they offer services for FDWs.

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