Question: Who Can Open A Bank Account In Singapore?

Can I open a bank account with someone else?

You can open a bank account for someone else, but only if you are a co-owner of the account.

If opening the account at a branch location, you will have to bring the other person with you.

You can’t open an account for another person if he or she is the sole owner of the account, even if you are related..

How can a non resident open a bank account in Singapore?

Necessary documents to open a bank account in Singapore as a foreignerProof of identity, such as a valid passport or national ID card.Proof of residence, including phone bills or utility bills.Employment Pass, S Pass, Student Pass or Dependent Pass depending on the situation.More items…•

Can I open a bank account with no money?

Can you open a bank account with no deposit or minimum balance? If you’ve been following along so far you probably know that yes, you can open a bank account with no money. You can also do this without adhering to a minimum balance requirement. Yet, not all bank accounts are created equal.

Which is the best bank to open an account in Singapore?

Best savings accounts in Singapore with the highest interest ratesSavings accountRealistic interest ratesBest forOCBC 3600.4% to 0.5%No credit card spendingMaybank Save Up0.48% to 2.93%Loan customersSCB Bonus Saver0.48% to 1.08%High spendersBOC Smart Saver0.7% to 1.4%High earners & spenders3 more rows

Can I keep my Singapore bank account?

Yes, you can until banks ask you to re-submit your resident proof of Singapore. … This would be my suggestion to you in this situation rather than you staying elsewhere and maintaining account of Singapore.

Do I need a license to open a bank account?

You usually just need to provide one or two forms of ID so the bank can verify you. This should be something with your name, address and a photo if possible, for example your driver’s license, passport, birth certificate or proof of age card.

How much money do u need to open a bank account?

Some accounts don’t require you to make a deposit right away, but others require $25 to $100.” Some accounts don’t require you to make a deposit right away, but others ask that you have $25 to $100 on hand to open one.

What age can you get a debit card in Singapore?

16 years oldYou must be at least 16 years old to apply for a Debit Card. Do I have to have a minimum income to apply for a Debit Card? What are the types of accounts that I can tag to the Debit Card? You may tag the Debit Card to your DBS Savings Plus account, DBS Autosave account, DBS Current account, or POSB Savings account.

What documents do you need to open bank account?

First off, you need to bring at least one form of photo ID. Some banks may require two forms of identification. These forms can be a state ID, Social Security card, passport or birth certificate. You will need to provide personal information like your date of birth, physical address and phone number.

Can a foreigner open a bank account in Singapore?

You do not need a tourist visa or employment pass to apply. A non-resident of Singapore or someone who lives outside of Singapore can open bank account in Singapore for the purposes of savings, trading or investment. … Singapore is a politically and economically stable country.

Can you make a bank account at 13?

While many banks allow you to open a checking account starting at age 13, the best time for your teen might coincide with other milestones, such as a getting a part-time job or learning to drive. … For accounts geared toward 13- to 17-year-olds, you’ll be a co-owner of the account as a parent.

How much deposit do I need to open a POSB account?

If you’re a low income adult likely to maintain a balance below S$500, look no further than POSB Everyday Savings Account. To begin with, there’s no minimum initial deposit requirement, making it fairly easy to open an account.

What is the easiest bank account to open online?

1. Choose a Bank or Credit Union with $0 Deposit Req’sBarclays Online Savings.Chime.Discover Online Banking Cashback Debit.Credit Unions.Wells Fargo Opportunity Checking®BBVA Compass Easy Checking.Radius Bank Essential Checking.

What is the minimum age to open a bank account in Singapore?

18 years oldWhat is the minimum age to open a bank account in Singapore. One can open a time deposit or current account in Singapore at the age of 18 years old. However , you may also open a savings account at the age of 15 years. Parents or kids guardians are also allowed to open accounts on behalf of those aged below 18.

What is needed to open a bank account in Singapore?

What documents are required for account opening?Identification Document. Provide front and back of NRIC.Proof of Residential Address* Provide the latest copy (within last 3 months) of any of the items below: Local utility bill. Local telecommunication bill. Local bank statement/credit card statement.

How much money do you need to open a Chase bank account?

How Chase compares to other checking accountsChaseWells FargoMonthly fees $12 to $25Monthly fees $10 to $30Minimum opening deposits $0Minimum opening deposits $25Sign-up bonuses Up to $200Sign-up bonuses NoneOpen an accountOpen an account

Can a US citizen open a bank account in Singapore?

Yes, foreign applicants must come to Singapore and submit their applications in person at a branch in Singapore. However, sometimes it is possible to arrange an interview outside Singapore and apply for a Private Banking account from abroad as officers of Singapore private banks travel overseas from time to time.

What happens if someone opened a bank account in your name?

But what if a crook opens a bank account in your name instead? Perhaps the thief has plans to bounce checks or overdraft the account at your expense. That account likely will not appear on your credit reports. Instead, it will show up on your checking account reports.