Online Bank Account Opening for Foreigners in Singapore with DBS (2024)

FAQs

Can foreigners open dbs bank account in Singapore? ›

Simply download the app and follow its instructions for completing an application. Before this process can be finished, make sure to have a valid passport, proof of address, and employment pass ready for submission, as these documents are mandatory requirements by DBS Bank.

New Customers. You can open your personal My Account and Multiplier Account directly on DBS or POSB digibank mobile. Before you apply, do prepare the required documents using our checklist.

Yes, as a non-resident, you can open a bank account in Singapore by visiting the bank in person and providing the required documents, such as a valid passport or an identity card. Different banks have their own eligibility rules, so it's important to research your options based on your situation.

Eligibility for opening a bank account as a foreigner

Generally speaking, the eligibility requirements are: Age 18 years or above. Have a valid pass or visa (Employment Pass, Student Pass, Long-Term Visit Visa, etc) Proof of residential address in Singapore.

Yes, you can keep your bank account if you leave Singapore and no longer are a resident of Singapore. Do update your personal details and contact information via the DBS or POSB ibanking portal, digibank, or visit a DBS or POSB branch near you in person.

Consumers can open checking, savings and money market accounts online without having to visit a bank branch or make a phone call. Decide which bank to do business with, then choose the account type to open by comparing features.

For Foreigners : Photocopy of passport, work permit/employment pass (front and back) and proof of residential address. 2. Initial Deposit : First Party Cheque - A personal cheque drawn on the applicant's account with another bank in Singapore, made payable to his or her name.

Can I open Singapore Maybank account online? ›

Visit Maybank2u SG website (www.maybank2u.com.sg) and select Open an Account. Select Discover under Personal Accounts. Browse through the Savings Accounts available and click Apply Now when you are ready.

Very often, you'll need to meet a minimum deposit requirement, which is normally between S$1,000 and S$3,000. Most banks also have a minimum in-credit balance requirement, and you'll be charged a fee if your balance falls below it.

Simply download the OCBC Digital app and complete the online application process with your biometric e-passport and ID card. Transact in multiple currencies: OCBC offers a Global Savings Account that allows you to make transactions in up to 9 major currencies with no administrative fees.

You are eligible to start a DBS Treasures Private Client relationship with DBS Singapore if you meet the following: 1) Documentation: Singaporean or Singapore permanent residents: NRIC + Proof of Residential Address. Foreigner (Working in Singapore): Valid Passport + Proof of Employment + Proof of Residential Address.

Is it illegal for a U.S. citizen to have a foreign bank account? No, it's not illegal for a U.S. citizen to have a foreign bank account. However, it is essential to ensure all IRS and compliance requirements are met, including the disclosure of such accounts.

DBS Private Bank is open to clients who are Accredited Investors with a minimum investible assets of S$5 million and above.

For legitimate businesses with proper reasons for operating out of Singapore, opening a Singapore bank account is not difficult. The process is very well-defined; if you follow the process steps and provide the necessary documents, a bank account can be opened without any problem by a foreigner or by a Singaporean.

Ability to transfer, remit or receive foreign currency funds directly from and into your My Account, allowing you to save on foreign exchange fees. Pay in multiple currencies for your overseas and online shopping with your linked DBS Private Bank Debit Card in up to 11 foreign currencies* with no foreign exchange fees.