Banking in Singapore

Yud

ViP

Member since 08 November 2010

Sydney

Yud

13 April 2011 14:31:38

7031

Yud

13 April 2011 14:31:38

7031

Sydney

Hello dear members,

Can you recommend some financial institutions i.e. Commercial Banks in Singapore?

What about their facilities they offer? For example: [Internet Banking, Credit Facilities, ATM's machine availability throughout the country & cities]

How the mentioned institution(s) has(ve) facilitated or facilitate your life?

Please do not hesitate to share your experience on the Expat-Blog community.

Thank you in advance for your future contribution.
_________________________________________________________
Expat.com Team

jn401

New member

Member since 20 April 2011

Singapore

jn401

26 April 2011 09:19:12

jn401

26 April 2011 09:19:12

Singapore

I just opened an account with DBS and it was very quick and easy.

All you need is your employment pass, passport and some proof of address.

Minimum opening deposit will be around SGD500+, some banks quite a bit more.

It took around 20minutes in total and I got an activated debit card straight away.

Best of luck - if you need any further info let me know.

James.

typebug

Active member

Member since 18 November 2010

Holland Village

typebug

26 April 2011 10:01:28

typebug

26 April 2011 10:01:28

Holland Village

HSBC let us open our accounts before we arrived in Singapore and sent us our ATM cards too. I was pretty impressed with that. Our accounts in all the countries we bank in are now linked through them so a wire transfer can be done online, it takes a second and costs next to nothing.

The downside of HSBC Singapore is their cards only work in ATM5 machines and there are very few of those in residential areas. Oddly enough my cards for HSBC Canada and HSBC USA work in all of the machines in Singapore but I end up having to deal with the exchange.

Citi bank is the other international option if you need to deal with accounts in other places. I haven't heard if they offer anything like HSBC's global view but I'd imagine they probably do.