--- title: Opening a Bank Account in Singapore (Foreigners) country: singapore service: "bank-account" category: finance difficulty: moderate estimated_time: "1-2 hours at a branch, plus 0-2 working days for activation" cost_range: "SGD 0-30" last_verified: 2026-05-05 canonical: https://publicservices.guide/singapore/bank-account/ status: current confidence: low tags: - banking - "first-week" - foreigner - singpass sources: - https://www.mas.gov.sg/regulation/notices/notice-626 - https://www.mom.gov.sg/passes-and-permits - https://www.mom.gov.sg/passes-and-permits/employment-pass - https://www.mom.gov.sg/passes-and-permits/s-pass - https://www.mom.gov.sg/passes-and-permits/dependants-pass - https://www.dbs.com.sg/personal/deposits/bank-earn/multiplier - https://www.ocbc.com/personal-banking/deposits/360-savings-account - https://www.ocbc.com/personal-banking/digital-banking/sg-bank-account - https://www.uob.com.sg/personal/save/everyday-accounts/one-account.page - https://www.uob.com.sg/personal/save/savings-accounts/stash-account.page - https://www.uob.com.sg/personal/save/foreign-currency-accounts/fxplus.page - https://www.uob.com.sg/personal/save/index.page - https://www.dbs.com.sg/i-bank/non-singapore-residents/announcement.page --- # Opening a Bank Account in Singapore (Foreigners) **Country:** πŸ‡ΈπŸ‡¬ Singapore **Last verified:** 2026-05-05 **Estimated time:** 1-2 hours at a branch, plus 0-2 working days for activation **Cost:** SGD 0-30 ## Required documents - **Passport (original)** - Where to get: Issued by your home country - Required: Original, not a photocopy or phone photo. UOB requires minimum 6 months validity. - _Note:_ UOB states verbatim that 'photocopied or digital copies of the above documents will not be accepted' β€” bring the physical book to the branch. - **Singapore-issued pass card** *(Employment Pass / S Pass / Dependant's Pass)* - Where to get: Issued by the Ministry of Manpower (work passes) or the Immigration & Checkpoints Authority (Dependant's Pass) - Required: Original card showing your FIN (Foreigner Identification Number) - _Note:_ The FIN printed on the card is the customer reference banks use in place of an NRIC. OCBC's 360 Account page lists the accepted passes verbatim as 'Employment Pass (EP) or S-Pass or Student Pass'; UOB lists 'Employment Pass / S Pass / Dependent Pass' across its account product pages. - **Proof of Singapore residential address** - Where to get: Singapore-based utilities bill, telco bill, or a signed rental agreement - Required: Recent original or printed copy in your name - _Note:_ If you have just arrived and the lease is still in your landlord's name, bring the rental agreement that names you as tenant. For the OCBC remote relocator product, an Employment Offer Letter or ICA In-Principle Approval letter is also accepted in lieu of an address bill. - **Singpass account (for online or in-app applications)** - Where to get: Register at singpass.gov.sg once you hold an EP, S Pass, or Dependant's Pass card - Required: Active Singpass login before starting a DBS Multiplier or in-app OCBC application - _Note:_ Foreigners can register for Singpass once they hold an EP / S Pass / Dependant's Pass. MyInfo autofill is currently restricted to citizens and PRs β€” foreigners use Singpass for login authentication and submit identity documents manually. UOB's One Account page states the MyInfo channel verbatim as 'Applicable to New to UOB customers who are Singaporeans/PRs with MyInfo login'. ## Costs - **Account opening fee:** 0 SGD β€” DBS Multiplier, OCBC 360, and UOB One have no upfront opening fee on the product pages accessed 2026-05-05. The cost you commit to is the initial deposit, which stays in your account. - **Initial deposit (DBS Multiplier / OCBC 360 / UOB One):** 1000 SGD β€” Verbatim S$1,000 figure on the OCBC 360 Account page and the UOB One Account page. The DBS Multiplier product page accessed did not state an initial-deposit figure; confirm with DBS at application time. - **Fall-below fee β€” OCBC 360 Account:** 2 SGD β€” waived if First year of the account β€” Charged when the average daily balance is below S$3,000. Verbatim from the OCBC 360 Account page (accessed 2026-05-05). - **Fall-below fee β€” UOB One Account:** 5 SGD β€” waived if First 6 months for accounts opened online β€” Charged when the monthly average balance is below S$1,000. Verbatim from the UOB One Account page (accessed 2026-05-05). - **Cheque book β€” OCBC 360 / UOB One (optional):** 10 SGD β€” S$10 per cheque book of 50 leaves at UOB One; S$10 per book at OCBC 360. Cheques are rarely needed in Singapore β€” most payments move on PayNow or GIRO. - **Early closure fee β€” UOB One:** 30 SGD β€” waived if Account is held longer than 6 months from opening β€” Charged on closure within 6 months of opening at UOB. Verbatim from the UOB One Account page. ## Steps ### 1. Confirm your pass and pick a bank product - Have your Employment Pass, S Pass, or Dependant's Pass card in hand. The card carries your FIN, the foreigner identification number banks use in place of an NRIC. - Decide which of the three local banks fits your situation: DBS Multiplier (online via Singpass), OCBC 360 (branch for new-to-OCBC foreigners), or UOB One (branch). All three have no upfront opening fee on their product pages. - If you have not arrived yet and your e-passport is from Hong Kong, Malaysia, Indonesia, or mainland China, look at OCBC's separate 'Singapore Bank Account' product instead β€” that is the only fully remote option. > **Tip:** The pass card itself is the gating credential, not your employer's offer letter. Banks will turn you away at the counter if the pass has not been issued yet β€” wait for the physical card before booking the appointment. ### 2. Register for Singpass before applying online _Applies when: If applying via DBS Multiplier or any in-app channel_ - Foreigners can register for Singpass once they hold an EP, S Pass, or Dependant's Pass. - MyInfo autofill is currently restricted to citizens and PRs β€” foreigners use Singpass for login authentication and submit identity documents manually. - DBS's Multiplier page states verbatim 'Register for Singpass if you have not done so' before starting the application. > **Tip:** Set up Singpass first, then apply. Do not start the bank application and try to register Singpass mid-flow β€” DBS's page will redirect you out and you lose the session. ### 3. Gather the documents the bank will inspect - Original passport (UOB requires minimum 6 months validity verbatim on the One Account page). - Original Singapore-issued pass card β€” Employment Pass, S Pass, or Dependant's Pass. - Proof of Singapore residential address β€” a recent utilities bill, telco bill, or signed rental agreement. - For the OCBC remote relocator product specifically, the page accepts an Employment Offer Letter, ICA In-Principle Approval Letter, or rental agreement in place of a Singapore utilities bill. > **Tip:** Singapore's banks ask for these documents to satisfy MAS Notice 626, the customer due diligence rule that all DBS, OCBC, and UOB branches operate under (issued by the Monetary Authority of Singapore under the Financial Services and Markets Act 2022, latest amendment effective 1 July 2025). The branch is not being unusual β€” every counter follows the same checklist. > **If this fails:** UOB states verbatim that 'photocopied or digital copies of the above documents will not be accepted'. Phone photos of the pass card or the passport will be turned away at a UOB counter, even though the same pass is electronic on Singpass. Bring the originals. ### 4. Apply online via Singpass β€” DBS Multiplier _Applies when: If you picked DBS Multiplier_ - Open the DBS digibank app or the Multiplier product page and start the application. - Sign in with Singpass. As a foreigner, the app will prompt you to upload your passport β€” the page states verbatim 'upload your passport (for Malaysian, upload front and back of your Malaysian IC)'. - Submit. Within stated hours (Mondays to Sundays, 7am to 10.30pm, or on the last day of the month between 7am to 8pm) the account opens instantly; outside those hours opening takes 2 working days. - The Multiplier debit card is mailed within 5 working days per the product page. > **Tip:** DBS's stated instant-opening window runs to 10.30pm on most days (7am to 8pm on the last day of the month). UOB's instant-opening window closes at 9pm. Applications submitted outside each bank's stated window are held until the next working day. ### 5. Open OCBC 360 β€” branch or in-app _Applies when: If you picked OCBC 360 Account_ - If you are new to OCBC, walk into a branch with the originals listed in the documents step. The 360 page lists eligibility verbatim as 'Singaporean, Singapore PR or foreigner with a valid pass'. - If you already hold an OCBC product, the OCBC app supports opening the 360 Account in-app β€” the page states the in-app eligibility verbatim as 'Singaporeans with a valid Singpass or foreigners who hold an OCBC product'. - Make the initial deposit of S$1,000 at the counter or by transfer once the account is open. - The fall-below fee of S$2 per month, charged when the daily average is below S$3,000, is waived for the first year. > **Tip:** OCBC 360 is the standard branch path for an arriving foreigner without a prior OCBC relationship. If you are a relocator who has not arrived yet and your e-passport is from Hong Kong, Malaysia, Indonesia, or mainland China, look at the separate 'Singapore Bank Account' product on OCBC's site instead β€” that is the only fully remote channel. ### 6. Open UOB One Account β€” branch (for foreigners) _Applies when: If you picked UOB One Account_ - Walk into a UOB branch with the originals: physical passport (minimum 6 months validity), Employment Pass / S Pass / Dependant's Pass card, and proof of residential address. - Sign the application forms at the counter. UOB's MyInfo channel is restricted to Singaporeans and PRs, so foreigners fill the form manually. - Make the initial deposit of S$1,000. - The fall-below fee of S$5 per month is charged when the monthly average is below S$1,000, and is waived for the first 6 months for accounts opened online. > **Tip:** If applying online with UOB, submit between 8.30am and 9pm Singapore time β€” applications outside that window wait for the next working day before processing starts. The product page states this verbatim for both UOB One and UOB Stash. > **If this fails:** UOB charges S$30 if the account is closed within 6 months of opening, per the One Account page. The 6-month fall-below waiver for online applications also runs from the same opening date β€” both windows close at month 6. ### 7. Activate online banking and fund the account - Set up internet banking and the bank's mobile app once the account number is issued. SMS OTP requires a Singapore mobile number. - Link the account to PayNow using your Singapore mobile number β€” most peer payments and small-merchant payments in Singapore route through PayNow rather than card. - Set up GIRO instructions for recurring bills (rent, utilities, telco) once you have at least one paid bill in your name to reference on the GIRO form. - If you opened the OCBC Singapore Bank Account remotely from overseas, deposit the S$3,000 first deposit within 90 days β€” the page states verbatim 'must be deposited within 90 days of account opening' and the deposit must be a single transaction from a bank account in your name. ## FAQ ### Which bank account should I pick β€” DBS Multiplier, OCBC 360, or UOB One? All three are mainstream SGD savings accounts at Singapore's three local banks. The differences that matter for a new arrival are the application channel and the fall-below threshold: | Bank | Product | Who it fits | Min initial deposit | Onboarding mode | |------|---------|-------------|---------------------|-----------------| | DBS | Multiplier Account | Foreigner with Singpass set up; comfortable applying online | Not stated on product page | Online via Singpass with passport upload (instant within stated hours; otherwise 2 working days) | | OCBC | 360 Account | Foreigner who prefers a branch visit OR an existing OCBC customer applying in-app | S$1,000 | Branch for new-to-OCBC foreigners; in-app for existing customers | | UOB | One Account | Foreigner without Singpass yet OR who prefers a branch visit | S$1,000 | Branch with original documents β€” MyInfo channel is Singaporeans/PRs only | | OCBC | Singapore Bank Account (relocator) | Pre-arrival, e-passport holders from Hong Kong, Malaysia, Indonesia, or mainland China only | S$3,000 (within 90 days of opening) | Fully remote β€” no branch visit needed | The three picks have no upfront opening fee per the product pages accessed 2026-05-05. ### Can I open the account before I arrive in Singapore? Only with OCBC's Singapore Bank Account product, and only if you hold an e-passport from Hong Kong, Malaysia, Indonesia, or mainland China. The page states verbatim 'Open an OCBC account with ease from wherever you are – there is no need to visit a branch!' and a decision arrives within 21 working days. For DBS and UOB, foreigners apply after arrival β€” at a UOB branch with original documents, or via DBS's Singpass-driven flow once Singpass is set up. ### Can I apply via MyInfo as a foreigner? At UOB, no β€” the One Account page states MyInfo is 'Applicable to New to UOB customers who are Singaporeans/PRs with MyInfo login'. At DBS, the Multiplier Account application is Singpass-driven and explicitly asks foreign applicants to upload a passport. At OCBC, the in-app instant-opening flow is for 'Singaporeans with a valid Singpass or foreigners who hold an OCBC product' β€” a new-to-OCBC foreigner uses the branch path or the relocator product instead. ### What happens if my balance falls below the minimum? A monthly fall-below fee is charged. Figures verbatim from the product pages accessed 2026-05-05: - OCBC 360 Account β€” S$2 per month when the daily average is below S$3,000. Waived for the first year. - UOB One Account β€” S$5 per month when the monthly average is below S$1,000. Waived for the first 6 months for accounts opened online. - DBS Multiplier Account β€” figure not stated on the product page accessed; check the DBS deposit-account fee schedule at application time. ### How long until I can use the account? DBS Multiplier opens instantly within stated hours (Mondays to Sundays, 7am to 10.30pm, or on the last day of the month between 7am and 8pm); outside those hours opening takes 2 working days. UOB One and UOB Stash open instantly when applications are submitted between 8.30am and 9pm Singapore time, and process on the next working day outside that window. OCBC's pre-arrival Singapore Bank Account decision lands within 21 working days from receipt of documents. ## Sources - [Monetary Authority of Singapore](https://www.mas.gov.sg/regulation/notices/notice-626) β€” accessed 2026-05-05 β€” _T1_ β€” Banks operating in Singapore must conduct customer due diligence (CDD) per MAS Notice 626 β€” the regulatory basis for why DBS, OCBC, and UOB require a passport, valid pass, and proof of address from foreigner applicants. Issued under Financial Services and Markets Act 2022 Β§ 16. Latest amendment effective 1 Jul 2025. - [Ministry of Manpower](https://www.mom.gov.sg/passes-and-permits) β€” accessed 2026-05-05 β€” _T1_ β€” Authoritative index of all Singapore work, family, and visit passes β€” the universe of passes a bank may accept as the primary identity-and-residency document for a foreigner. - [Ministry of Manpower](https://www.mom.gov.sg/passes-and-permits/employment-pass) β€” accessed 2026-05-05 β€” _T1_ β€” Definition of the Employment Pass and the qualifying salary floor cited verbatim as 'at least $5,600 a month'. Establishes the EP as the work pass for foreign professionals, managers, executives, and technicians. - [Ministry of Manpower](https://www.mom.gov.sg/passes-and-permits/s-pass) β€” accessed 2026-05-05 β€” _T1_ β€” Definition of the S Pass and the qualifying salary floor cited verbatim as 'at least $3,300 a month'. Establishes the S Pass as the work pass for skilled associate professionals and technicians, subject to a quota. - [Ministry of Manpower](https://www.mom.gov.sg/passes-and-permits/dependants-pass) β€” accessed 2026-05-05 β€” _T1_ β€” Definition of the Dependant's Pass: allows spouses and children of Employment Pass or S Pass holders to join them in Singapore. Establishes the DP as the family pass that banks accept as a foreigner residency document. - [DBS Bank Ltd](https://www.dbs.com.sg/personal/deposits/bank-earn/multiplier) β€” accessed 2026-05-05 β€” _T2_ β€” DBS Multiplier Account application is Singpass-driven. New foreign customers are asked verbatim to 'upload your passport (for Malaysian, upload front and back of your Malaysian IC)'. Account opens instantly within Mondays to Sundays, 7am to 10.30pm, or on the last day of the month 7am to 8pm; outside that window opening takes 2 working days. The Multiplier debit card is mailed within 5 working days. - [OCBC Bank](https://www.ocbc.com/personal-banking/deposits/360-savings-account) β€” accessed 2026-05-05 β€” _T2_ β€” OCBC 360 Account eligibility cited verbatim as 'Singaporean, Singapore PR or foreigner with a valid pass' aged 18+. Initial deposit S$1,000. Fall-below fee S$2 per month when the daily average is below S$3,000, waived for the first year. Cheque book S$10. Documents required for foreigner verbatim 'Passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass)'. In-app application is for 'Singaporeans with a valid Singpass or foreigners who hold an OCBC product'. - [OCBC Bank](https://www.ocbc.com/personal-banking/digital-banking/sg-bank-account) β€” accessed 2026-05-05 β€” _T2_ β€” OCBC Singapore Bank Account is a remote-onboarding product for relocators. Eligibility cited verbatim as 'Individuals above 18 years old who hold e-passports from Hong Kong, Malaysia, Indonesia or mainland China'. First deposit '3,000 SGD (single transaction) or more' which 'must be deposited within 90 days of account opening'. Fall-below fee S$10 'Waived for first 12 months'. Decision 'within 21 working days'. Accepts Employment Offer Letter, ICA In-Principle Approval Letter, or rental agreement as supporting document. - [United Overseas Bank Limited](https://www.uob.com.sg/personal/save/everyday-accounts/one-account.page) β€” accessed 2026-05-05 β€” _T2_ β€” UOB One Account requires foreigners to apply at a branch with physical passport (minimum 6 months validity), Employment Pass / S Pass / Dependant Pass, and proof of residential address. Initial deposit S$1,000. Fall-below fee 'S$5 if monthly average balance is less than S$1,000', waived first 6 months for accounts opened online. Early closure fee S$30 within 6 months. Cheque book S$10 per book of 50 leaves. MyInfo cited verbatim as 'Applicable to New to UOB customers who are Singaporeans/PRs with MyInfo login'. Online turnaround verbatim 'Applications submitted between 8.30am to 9pm will be opened instantly. Applications received outside these times will be processed the next working day.' - [United Overseas Bank Limited](https://www.uob.com.sg/personal/save/savings-accounts/stash-account.page) β€” accessed 2026-05-05 β€” _T2_ β€” UOB Stash Account confirms the cross-product UOB rule cited verbatim as 'Photocopied or digital copies of the above documents will not be accepted' for foreigner branch applications. Same instant-open window of 8.30am to 9pm applies. - [United Overseas Bank Limited](https://www.uob.com.sg/personal/save/foreign-currency-accounts/fxplus.page) β€” accessed 2026-05-05 β€” _T2_ β€” UOB FX+ confirms the foreigner branch-application rule across UOB savings products: physical passport with 6 months validity, Employment Pass / S Pass / Dependent Pass, proof of residential address. MyInfo with Singpass available for citizens and PRs only. - [United Overseas Bank Limited](https://www.uob.com.sg/personal/save/index.page) β€” accessed 2026-05-05 β€” _T2_ β€” UOB savings and current account product index β€” confirms UOB One, Uniplus, Stash, FX+, Lady's, LockAway, and KrisFlyer UOB are the SGD-savings products available to retail individuals. - [DBS Bank Ltd](https://www.dbs.com.sg/i-bank/non-singapore-residents/announcement.page) β€” accessed 2026-05-05 β€” _T2_ β€” Confirms the legal entity name 'DBS Bank Ltd' and disambiguates the non-resident product set (people living outside Singapore) from the foreign-resident-on-a-pass flow that this guide covers. --- Verification pending β€” see the canonical page for the latest trust state. Canonical: https://publicservices.guide/singapore/bank-account/