Banking in Singapore

[lsac0902]

Hi all,

we've just got our visas approved but haven't got the IPA letter yet.
My husband is in Singapore this week and would like to open a bank account. Will the banker ask him the IPA letter? Which bank is the most convenient regarding the ATM facilities and branch locations?

thanks all!

[E-T]

POSB & DBS are the most convenient with ATMs everywhere you go. Some malls have even two ATMs from these banks in the same mall on two different levels. That's if you don't mind the "cheap branding" of these two banks, and the queues at these banks can get really long. I mean seriously 1 to 3 hours of queue.

UOB & OCBC is next on the list with a wide distribution of their ATMs. Although not as much as the above two, you can still see a reasonable amount of ATMs available in popular places like Suntec, Orchard vicinity.

Can't speak for the rest about availability and service since I have no experience with them. I have only had dealings with the above.

[zratter]

OCBC but then I may be biased . It's true that DBS queues tend to get VERY long with their SLOW service, especially the branch at Malacca Street. Man... u have to be really patient there.

[E-T]

I am staying up north... the service ain't too bad to me. The only puzzling thing is... 6 counters but only 2 operating. Worse... in peak hours. I can never find a reasonable explanation to that.

[Splatted]

I think NTUC (the supermarket) allow you to apply for a bank account (with Visa debit, if i'm not mistaken) through OCBC.

The benefit of this is that they do not have a minimum balance requirement for these new type of accounts, unlike every single other bank in Singapore that charge you a fee if you drop below $500.

Also, as an aside, I think there is a reward point scheme attached to the card with no annual fee, membership fee or anything.

[Strong Eagle]

Hi all,

we've just got our visas approved but haven't got the IPA letter yet.
My husband is in Singapore this week and would like to open a bank account. Will the banker ask him the IPA letter? Which bank is the most convenient regarding the ATM facilities and branch locations?

thanks all!

How do you know you got your visas approved if you haven't yet received your AIP letter? If your employer used EP Online, then he/she should be able to forward you the online AIP electronically.

In any case, banks will at least require your AIP and passport and some will balk at opening the account without actually seeing your work permit stamped in your passport (the green card is actually only an entry/exit visa).

[lsac0902]

How do you know you got your visas approved if you haven't yet received your AIP letter? If your employer used EP Online, then he/she should be able to forward you the online AIP electronically.

You can check it through the MOM's web site or their hotline number. Our applications were submitted through mail.