Opening a Bank Account in Singapore (Foreigners)

Step-by-Step

1. 1

   Confirm your pass and pick a bank product

   1. 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.
   2. 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.
   3. 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 — 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 — wait for the physical card before booking the appointment.

2. 2

   Register for Singpass before applying online

   Expat New Arrival Resident
   If applying via DBS Multiplier or any in-app channel

   1. Foreigners can register for Singpass once they hold an EP, S Pass, or Dependant's Pass.
   2. MyInfo autofill is currently restricted to citizens and PRs — foreigners use Singpass for login authentication and submit identity documents manually.
   3. 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 — DBS's page will redirect you out and you lose the session.

3. 3

   Gather the documents the bank will inspect

   1. Original passport (UOB requires minimum 6 months validity verbatim on the One Account page).
   2. Original Singapore-issued pass card — Employment Pass, S Pass, or Dependant's Pass.
   3. Proof of Singapore residential address — a recent utilities bill, telco bill, or signed rental agreement.
   4. 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 — every counter follows the same checklist.

   ⚠️ Watch out: 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. 4

   Apply online via Singpass — DBS Multiplier

   Expat New Arrival Resident
   If you picked DBS Multiplier

   1. Open the DBS digibank app or the Multiplier product page and start the application.
   2. Sign in with Singpass. As a foreigner, the app will prompt you to upload your passport — the page states verbatim 'upload your passport (for Malaysian, upload front and back of your Malaysian IC)'.
   3. 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.
   4. 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. 5

   Open OCBC 360 — branch or in-app

   Expat New Arrival Resident
   If you picked OCBC 360 Account

   1. 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'.
   2. If you already hold an OCBC product, the OCBC app supports opening the 360 Account in-app — the page states the in-app eligibility verbatim as 'Singaporeans with a valid Singpass or foreigners who hold an OCBC product'.
   3. Make the initial deposit of S$1,000 at the counter or by transfer once the account is open.
   4. 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 — that is the only fully remote channel.

6. 6

   Open UOB One Account — branch (for foreigners)

   Expat New Arrival Resident
   If you picked UOB One Account

   1. 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.
   2. Sign the application forms at the counter. UOB's MyInfo channel is restricted to Singaporeans and PRs, so foreigners fill the form manually.
   3. Make the initial deposit of S$1,000.
   4. 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 — 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.

   ⚠️ Watch out: 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 — both windows close at month 6.

7. 7

   Activate online banking and fund the account

   1. Set up internet banking and the bank's mobile app once the account number is issued. SMS OTP requires a Singapore mobile number.
   2. Link the account to PayNow using your Singapore mobile number — most peer payments and small-merchant payments in Singapore route through PayNow rather than card.
   3. 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.
   4. If you opened the OCBC Singapore Bank Account remotely from overseas, deposit the S$3,000 first deposit within 90 days — 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.