bank account in SG

MBalen · Post by **MBalen** » Thu, 31 Mar 2011 11:34 am

Hello!
I am on repeated 3-month tourist visas as my GF is Singaporean.
How might I open up bank account here? I am trying to avoid ATM fees, plus a falling American dollar.

Thank you!
Michael B

darpy · Post by **darpy** » Thu, 31 Mar 2011 1:00 pm

when I was here on a tourist visa I just walked into DBS and said I wanted to open one.

They let me open, but you need to sign a legal document for the government stating the money isnt illegal etc, then advise the bank how much you will be depositing, how much you intend to withdrawal and when etc

ecureilx · Post by **ecureilx** » Thu, 31 Mar 2011 1:21 pm

darpy wrote:when I was here on a tourist visa I just walked into DBS and said I wanted to open one.

They let me open, but you need to sign a legal document for the government stating the money isnt illegal etc, then advise the bank how much you will be depositing, how much you intend to withdrawal and when etc

Go to citibank, HSBC or ANZ - all of them let you open an account and not have a local address ..

I thought this was asked ...

MBalen · Post by **MBalen** » Sat, 02 Apr 2011 2:23 pm

Greetings!
I walked into a DBS/POSB, a Citibank, and a UOB (all on Orchard Road) today--Sunday. I brought along my passport and another ID, looked grand (but not a hundred grand)...and all turned me away. Specifically, Citi said that I needed 20k to open a Citi overseas account.

What gives??:O

~Michael

Post by **Strong Eagle** » Sat, 02 Apr 2011 2:54 pm

MBalen wrote:Greetings!
I walked into a DBS/POSB, a Citibank, and a UOB (all on Orchard Road) today--Sunday. I brought along my passport and another ID, looked grand (but not a hundred grand)...and all turned me away. Specifically, Citi said that I needed 20k to open a Citi overseas account.

What gives??:O

~Michael

I know UOB, main branch, will open you a personal account so long as you have a letter of reference from an existing bank customer.

MBalen · Post by **MBalen** » Sat, 02 Apr 2011 3:26 pm

There is some news. May I ask which branch is this?

~Michael

Post by **Strong Eagle** » Sat, 02 Apr 2011 3:43 pm

MBalen wrote:There is some news. May I ask which branch is this?

~Michael

The one at UOB Plaza, on Boat Quay.

MBalen · Post by **MBalen** » Sat, 02 Apr 2011 3:46 pm

I will try it I think on Monday. Perchance do u know the minimum?:)

ecureilx · Post by **ecureilx** » Sat, 02 Apr 2011 4:05 pm

MBalen wrote:I will try it I think on Monday. Perchance do u know the minimum?:)

You should atleast put in 5,000. From what I remember.

Talking of banks, an ex-boss of mine, wanted to open an account in London, and as per London rules, in the 70's, you need to have a reference.

So my ex-boss had told the teller that he wants to speak to the manager, and told the manager that he doesn't have a reference, and his opening balance is 250,000 Stirling. Instantly the manager had said "Ah, then I can be your reference .. "

PS: the citibank at Dhoby Ghat is for corporate accounts. Check other citi branches.

Post by **Strong Eagle** » Sat, 02 Apr 2011 6:01 pm

MBalen wrote:I will try it I think on Monday. Perchance do u know the minimum?:)

It's been a while. I set it up for a contractor of mine who was paid in SG $$ in Singapore by my company while working and living in KL. He opened his account at UOB which is where my corporate account is.

I don't remember the amount but it must have been large as he was depositing his first company paycheck.

ecureilx · Post by **ecureilx** » Sat, 02 Apr 2011 6:07 pm

Strong Eagle wrote:I don't remember the amount but it must have been large as he was depositing his first company paycheck.

Though technically you must deposit money to open an account and then deposit cheques, UOB does exempt this, as the manager can open an account, with zero balance, and accept the cheque deposit as the opening balance.

Yes, done that and helped a few friends do it, though - most employers require the account to be with DBS/POSB for pay

MBalen · Post by **MBalen** » Mon, 04 Apr 2011 7:26 am

from:
http://sgexperts.com/questions/48/can-a ... -singapore (2009)

1) A Referral letter from foreigner's bank in his own country
2) A Referral letter from Singapore Citizen or Permanent Resident
3) Two Identification documents (such as NRIC, Passport, Driving License, etc)
4) At least 16 years old for Passbook account or 21 years old for Uniplus account
5) Initial Deposit of S$1000
6) Must come down personally to UOB Singapore Bank to open

Hi! My friend told me she does not have her Nat'l ID card...but she does have her passport. Will that suffice? Also, these guys' minimum is 2k. Do any other banks do this service (that you know of!)?

ecureilx · Post by **ecureilx** » Mon, 04 Apr 2011 10:40 am

MBalen wrote: Hi! My friend told me she does not have her Nat'l ID card...but she does have her passport. Will that suffice? Also, these guys' minimum is 2k. Do any other banks do this service (that you know of!)?

From what I know, ID is - as every Singaporean/Malaysian and some other country people do have national IC .. but, if you dont have it, the bank should accept the passport, as long as passport is valid, and the photo is new.

I didn't get the question on the 'these guys minimum is 2k' ??

Post by **Strong Eagle** » Mon, 04 Apr 2011 11:07 am

ecureilx wrote:Though technically you must deposit money to open an account and then deposit cheques, UOB does exempt this, as the manager can open an account, with zero balance, and accept the cheque deposit as the opening balance.

I opened my personal account at Stan Chart with a check from my company. Hand written, no issues.

MBalen · Post by **MBalen** » Mon, 04 Apr 2011 3:56 pm

Oh ok. Thank you very much.
2,000 SGD is the minimum amount needed to open up a personal checking account at UOB, sir.

Mike

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bank account in SG

bank account in SG

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