Singapore Expats

Look for a bank

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
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Posts: 15
Joined: Thu, 30 Jun 2005 11:28 am
Location: Singapore

Look for a bank

Post by Horangi » Thu, 30 Jun 2005 11:35 am


I need to open a bank account and it seems quite complex :shock:
(I guess I'm not used at all with their systems)
Can you give me some advices about which one is the easier as I also have to transfer money to Europe :x

Thanks for your help

dot dot dot
Posts: 2212
Joined: Thu, 21 Oct 2004 11:42 am

Post by dot dot dot » Thu, 30 Jun 2005 12:55 pm

Hi there,

In all cases when transferring money to Europe, you need the IBAN number of the bank in Europe you are transferring money to, and they all do it the same way here. No point looking for a European bank here, as they all have their own policies, localised to Singaporean way of working. I tried ABN AMRO myself, as I have been banking with them a longtime in Holland, but no way: totaly different here.

Just go to any bak online and check their terms and conditions and take the one you think is the best for you according to your requirements, at the end of the day they are all the same. DBS, POSB, Citibank, HSBC, OCBC, not a lot of difference for simple activities as receiving your income and transferring money.



transfer money

Post by faixal » Thu, 30 Jun 2005 9:57 pm

If you need to transfer money but are psychologically intimidated by the idea of filling up complicated forms, maybe u shud try Western Union found in every singpost branches. Transfer of money is quick as long as it is in relatively small sums. But a fee of around $25 applies.

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