Opening a private banking account in Singapore involves more than depositing funds. This guide walks through eligibility, documentation, and the onboarding process.
The process of joining a private bank in Singapore usually includes:
- Eligibility Assessment: Client must meet minimum asset thresholds.
- Documentation: Passport, proof of residence, source of wealth documentation.
- Compliance Checks: Banks conduct due diligence for AML and KYC requirements.
- Relationship Assignment: A dedicated relationship manager is appointed.
- Account Setup: Portfolio structuring and access to services.
While the requirements are rigorous, they ensure both client security and regulatory compliance. For those seeking bespoke financial solutions, the effort is worthwhile.
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Written by: BankOpen Singapore Editorial Team
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions.
Disclaimer: The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.