Discuss the different banking options, rates, offers and perks.
-
JR8
- Immortal
![Immortal Immortal]()
- Posts: 16522
- Joined: Wed, 24 Mar 2010 12:43 pm
- Location: K. Puki Manis
-
Quote
-
0
login to like this post
Post
by JR8 » Wed, 30 Mar 2011 9:45 am
I'm currently dealing with some personal admin and juggling bank accounts.
I've had SGn bank accounts, but only opened them when legally resident. I've seen it said here that people have opened accounts from abroad in prep. for moving to SG., i.e. as non-resident.
Can anyone confirm that you do not have to be resident to open a checking account? (Or might it come down to individual bank T&Cs?)
-
aster
- Manager
![Manager Manager]()
- Posts: 1621
- Joined: Fri, 15 Jan 2010 12:15 pm
-
Quote
-
0
login to like this post
Post
by aster » Wed, 30 Mar 2011 9:59 am
HSBC opens accounts for non-residents with no intention of moving to Singapore.
-
ecureilx
- Immortal
![Immortal Immortal]()
- Posts: 9817
- Joined: Fri, 20 Aug 2010 5:18 pm
-
Quote
-
0
login to like this post
Post
by ecureilx » Wed, 30 Mar 2011 10:33 am
aster wrote:HSBC opens accounts for non-residents with no intention of moving to Singapore.
Add Citibank too .. they will refer to the specific branches which handle non-resident accounts .. ANZ too is in the list .. not others from what I know ..
-
durain
- Director
![Director Director]()
- Posts: 3666
- Joined: Thu, 23 Aug 2007 8:15 pm
- Location: Location: Location: Location:
-
Quote
-
0
login to like this post
Post
by durain » Thu, 31 Mar 2011 3:50 pm
DBS was ok too for a saving account. all you need is your passport, deposit and your account will be setup immediately with ATM card too.
-
ecureilx
- Immortal
![Immortal Immortal]()
- Posts: 9817
- Joined: Fri, 20 Aug 2010 5:18 pm
-
Quote
-
0
login to like this post
Post
by ecureilx » Thu, 31 Mar 2011 3:59 pm
durain wrote:DBS was ok too for a saving account. all you need is your passport, deposit and your account will be setup immediately with ATM card too.
DBS used to ask for a local address, for mailing.
I am not sure now
The safest bet is HSBC/Citibank as they are in almost every country, and you can do deposits, if your local law there allows it, to the Singapore account.
-
nburge
- Regular
![Regular Regular]()
- Posts: 103
- Joined: Tue, 30 Nov 2010 8:01 am
-
Quote
-
0
login to like this post
Post
by nburge » Thu, 14 Apr 2011 7:06 pm
Do you have to be physically present in Singapore for them to set up a bank account for you? I have tried to get HSBC to set one up for me in Singapore (via my existing UK account) but they came back saying I needed the EP before they'd do it. I now have the In Principal Approval Letter, but don't really want to pay the ~£100 fee for them to set it up for me, if I could go direct (or over the phone/net) with either DBS or Citi...
I'm heading out there in about 3 weeks, but the sooner I can set up a SGD account based in Singapore, the sooner my company will pay me my wages...
-
ecureilx
- Immortal
![Immortal Immortal]()
- Posts: 9817
- Joined: Fri, 20 Aug 2010 5:18 pm
-
Quote
-
0
login to like this post
Post
by ecureilx » Thu, 14 Apr 2011 7:16 pm
nburge wrote:Do you have to be physically present in Singapore for them to set up a bank account for you?
From what I know, you must be physically present to open the account .. alternate, go to HSBC where you are and check if you can open a Singapore account from there, as some foreign banks do allow ..
But the round trip process used to take a couple of weeks, if i remember correctly ..
-
nburge
- Regular
![Regular Regular]()
- Posts: 103
- Joined: Tue, 30 Nov 2010 8:01 am
-
Quote
-
0
login to like this post
Post
by nburge » Thu, 14 Apr 2011 7:36 pm
ecureilx wrote:nburge wrote:Do you have to be physically present in Singapore for them to set up a bank account for you?
From what I know, you must be physically present to open the account .. alternate, go to HSBC where you are and check if you can open a Singapore account from there, as some foreign banks do allow ..
But the round trip process used to take a couple of weeks, if i remember correctly ..
Yeah - I tried this already, but the guys in the branch don't tend to know anything (they're just there to direct you to the right queue...) and the people on the phone insist on having the EP already (which I can't get until I've been to Sing!). Seems like circular logic... I guess I'll queue up in branch when i get to Singapore in a couple of weeks.
Thanks for the advice!
-
Strong Eagle
- Moderator
![Moderator Moderator]()
- Posts: 11744
- Joined: Sat, 10 Jul 2004 12:13 am
-
Answers: 11
- Location: Off The Red Dot
-
Contact:
-
Quote
-
0
login to like this post
Post
by Strong Eagle » Thu, 14 Apr 2011 9:56 pm
nburge wrote:Do you have to be physically present in Singapore for them to set up a bank account for you? I have tried to get HSBC to set one up for me in Singapore (via my existing UK account) but they came back saying I needed the EP before they'd do it. I now have the In Principal Approval Letter, but don't really want to pay the ~£100 fee for them to set it up for me, if I could go direct (or over the phone/net) with either DBS or Citi...
I'm heading out there in about 3 weeks, but the sooner I can set up a SGD account based in Singapore, the sooner my company will pay me my wages...
You have to be physically present because Singapore banking laws require that your signing of the signature card be witnessed by bank employees. You can't just send it in.
-
nburge
- Regular
![Regular Regular]()
- Posts: 103
- Joined: Tue, 30 Nov 2010 8:01 am
-
Quote
-
0
login to like this post
Post
by nburge » Thu, 14 Apr 2011 10:59 pm
Thanks Strong Eagle, I guess that all makes sense.
-
-
Opening a bank account in Singapore as a EU citizen
Replies: 30
First post
Hi,
I am in the process of arranging a relocation to Singapore and have currently some interviews with potential employers. Whenever I am there I...
Last post
Considering his IP address (German?) and a throw-away email address? Sixteen years moderating this board, and the fact that between the two active...
- 30 Replies
- 17512 Views
-
Last post by sundaymorningstaple
Sat, 31 Oct 2020 12:05 pm
-
-
British expat in SG looking for advice on opening a UK bank account (in my name).
Replies: 7
First post
Hi All,
I have a UK private pension that is tiny and I cannot do anything with to boost its value from SG . I have been advised to cash it out which...
Last post
I had some issues with Wise just last week. Normally the send time is near instant for USD to SGD, but for some reason they are now saying it’ll take...
- 7 Replies
- 8459 Views
-
Last post by sundaymorningstaple
Tue, 14 Jan 2025 10:50 am
-
-
Opening online store while on EP
Replies: 20
First post
Hi guys,
I hope you will help me with my question.
I'm on EP here in Singapore and have an amazing corporate job. But during the weekend I like to...
Last post
Could you please explain me how is it different from my case? You write that many trailing spouses have done that (my friends are exactly the case)....
- 20 Replies
- 11889 Views
-
Last post by Myasis Dragon
Sun, 03 May 2020 6:52 am
-
-
- 1 Replies
- 2037 Views
-
Last post by Jgrif96229
Tue, 02 Jun 2020 4:23 pm
-
-
How's day 1 of opening the local economy?
Replies: 10
First post
How's your day 1 today? Anyone out at malls? Is there a limit? I am still hesitant to step out because of the limitation of crowd, although I need to...
Last post
There were something like 11 accidents the first morning of reopening according to the local rag.
- 10 Replies
- 3826 Views
-
Last post by PNGMK
Mon, 22 Jun 2020 8:40 am
Users browsing this forum: No registered users and 1 guest