Bank Account - Minimum Balance

[Jack_Hunk]

I'm not sure if this is the right place to ask this question.. but any help here is very much appreciated.

I need to open a personal banking account in Singapore. I'm here for a very short period of time so I do not want to have any untouched $$ (Min Deposit) in my acc. Can anyone please let me know if theres a bank that doesn't have high minimum balance (S$ 500).

[durain]

if you dont keep a minimum deposit, you will be charge a per month bank fees.

[myirene]

standard chartered's e-saver does not require a minimum deposit but the drawback is that there will be a $5 charge each time you withdraw cash at their branches.

[RULDS]

standard chartered's e-saver does not require a minimum deposit but the drawback is that there will be a $5 charge each time you withdraw cash at their branches.

I have standered charter and and I have an e-saver account and I do not get charged a $5 fee. You want want to look into that.

That is the reason why I went with SC, no min deposit, no fees (so far!)

[myirene]

I got the information from their website: http://www.standardchartered.com.sg/dep ... saver.html

Fine prints say:
Important Notes:
#Withdrawals at branch counters will incur a $5 service fee.
e$aver is a savings account that can only be operated via Phone Banking or Internet Banking. There is no ATM card, passbook or monthly statements. Account holders must view their record of transactions via Internet Banking.
This deposit account is eligible for deposit insurance coverage under the Deposit Insurance Act. This deposit account held by or for an individual or a charity, will be insured up to the limits specified in the Deposit Insurance Act.

Personally, I do not have an e-saver account with Standard Chartered Bank because being a staff at another bank, I enjoy attractive staff rates and privileges.

[RULDS]

I got the information from their website: http://www.standardchartered.com.sg/dep ... saver.html

Fine prints say:
Important Notes:
#Withdrawals at branch counters will incur a $5 service fee.
e$aver is a savings account that can only be operated via Phone Banking or Internet Banking. There is no ATM card, passbook or monthly statements. Account holders must view their record of transactions via Internet Banking.
This deposit account is eligible for deposit insurance coverage under the Deposit Insurance Act. This deposit account held by or for an individual or a charity, will be insured up to the limits specified in the Deposit Insurance Act.

Personally, I do not have an e-saver account with Standard Chartered Bank because being a staff at another bank, I enjoy attractive staff rates and privileges.

Thanks for the info. I know I have a checking account and esaver. Possibly there are no fees when you have both. I'm not sure but you havea a good point. All i know is that I have a minimum balance of $1 and it doesnt cost me anything.

[LT]

Hi,

Most of the standard saving account in Singapore has a minimum deposit of $500. If the average daily balance is less than $500, a $2/mth fee will be imposed. Lastly, if the account is to be closed within 6 months, $20 penalty will be imposed.

Hope this helps.

Cheers..