Opening a personal bank account in Singapore as a foreigner is straightforward if you understand the documentation and residency requirements.
Singapore’s banking system is known for its efficiency, security, and global accessibility. Foreign individuals can open personal accounts, even without permanent residency, though some banks have stricter policies.
You'll typically need:
- A valid passport
- Proof of address (from home country or Singapore)
- Employment pass, student pass, or proof of purpose Banks like DBS, OCBC, and UOB are expat-friendly. Some accounts can be opened digitally, though high-value accounts often require in-person verification. Choosing between current accounts and savings accounts depends on your needs. Savings accounts usually offer low interest but high liquidity, while fixed deposits provide better yields.