Remote account opening is becoming more common, but not all banks offer fully online onboarding, especially for foreign nationals.
In recent years, several Singaporean banks have introduced online or hybrid onboarding systems to simplify the account opening process. However, the availability of fully remote account opening depends on whether you're opening a personal or business account, and your citizenship/residency status.
Here’s a breakdown:
- Singapore citizens and PRs: Most local banks (DBS, UOB, OCBC) offer seamless online onboarding via Singpass.
- Foreigners (with work passes or student passes): Some banks allow pre-application online but require an in-branch appointment for identity verification.
- Non-residents (no Singapore address): Typically must apply in person or through a relationship manager. Digital banks like Trust Bank and Revolut SG may offer alternative solutions, though with limited functionality.
While fintech platforms have made things easier, due diligence requirements and MAS regulations still mandate face-to-face KYC in many cases.
Tags: Open Bank Account Online, Singapore, Non-Resident Banking, Remote KYC