Close

Troubles with creating new bank acc

I'm having a bad experience about opening new bank account. I'm really mad when I've been rejected by POSB 3 time. The 1st time when I came there, I got the answer "Sorry, you need company's confirmation of employment", well yes, I prepared for that. The 2nd time, I was a bit annoyed when one lady replied "This not accepted, need Company's confirmation of residence". Oh hell, another kind of request. For 3rd time, one young boy came to me saying "Sure, your docs are ok, you may need to wait for 3 hours cause of long queue". And yeah, I patiently waited...1.5 hours later, one chubby girl came blah blah saying that they needed EP but not IPA.

It must have been my mistake not asking them to read through the letter word by word but really dislike the way they work. Anyone can recommend a better bank for opening account?

Thank you,
Linh

Do you have working visa Identity card (FIN card) issued by MoM once you joined the company? If you have then bring that card along with your passport. Do you use post paid hand phone number, if yes then you must have monthly bill where your current residence address would be showing, bring one copy of that. With this three documents, you can visit any DBS, UOB or OCBC branch to open your savings account.

Note: Need to maintain minimum balance of $1000 in a month, lesser than this amount would prompt a $2 fine in that month.

There is no general requirements for all this to open a bank account in Singapore - even foreigners not residing here are legally allowed to open one. So these are just bank-specific rules (which theyinstate to avoid risky customers).
That said, rules of course differ from bank to back. You should ask around at a few and find one that you can open an account at easier. Foreign banks are often more foreigner-friendly.

I tried with Citibank & it seemed that they were not very clear with what docs I needed to provide & they could by-pass my docs. But they needed $3,000 deposit =)) and yeah, I refused.

New topic

Expatriate health insurance in Singapore

Free advice and quotation service to choose an expat health insurance in Singapore

Moving to Singapore

Find tips from professionals about moving to Singapore

Travel insurance in Singapore

Enjoy stress-free travel to Singapore