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How to Open a Singapore Bank Account – Corporate & Personal 🇸🇬💳

  • monmonq1
  • Mar 22
  • 2 min read

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Opening a bank account in Singapore is a smart move for businesses and individuals looking for a stable banking system, global access, and digital convenience. Here’s a step-by-step guide for both corporate and personal accounts.


📌 Corporate Bank Account

Ideal for startups, SMEs, and global businesses expanding into Singapore.

🔹 Requirements:

✅ Company incorporation documents (ACRA BizFile, Constitution, etc.)

✅ Proof of business activities (invoices, contracts, website)

✅ Directors & shareholders’ details (passport & proof of address)

✅ Minimum deposit (varies by bank, typically SGD 1,000–50,000)


💼 Best Banks for Corporate Accounts:

🏦 DBS — Easy online application for local businesses🏦 OCBC — Great for SMEs with affordable fees🏦 UOB — Ideal for businesses with regional trade needs🏦 Aspire Digital Bank — No minimum deposit, fully online setup


📌 Steps to Open a Corporate Account:

1️⃣ Choose the right bank based on your business needs 

2️⃣ Submit an online application or book an in-person appointment 

3️⃣ Provide the required documents for verification 

4️⃣ Complete identity verification (video KYC or branch visit) 

5️⃣ Get approval & start banking!


📌 Personal Bank Account

Perfect for expatriates, professionals, and long-term residents in Singapore.

🔹 Requirements:

✅ Valid passport & proof of residence 

✅ Employment pass, student pass, or dependent pass 

✅ Minimum initial deposit (varies by bank, around SGD 500–3,000)


💳 Best Banks for Personal Accounts:

🏦 DBS/POSB — Most accessible with island-wide ATMs 🏦 OCBC 360 Account — High interest for savings 🏦 UOB One Account — Cashback benefits for transactions 🏦 Standard Chartered — Easy online banking for expats

📌 Steps to Open a Personal Account:

1️⃣ Visit the bank or apply online (some banks offer digital onboarding)

2️⃣ Submit ID & proof of residence

3️⃣ Deposit the minimum amount required

4️⃣ Receive your debit card & online banking access


🚀 Final Thoughts

Singapore offers world-class banking solutions for both businesses and individuals. Whether you’re opening a corporate or personal account, choosing the right bank depends on your needs and preferences.


💡 Need help setting up your bank account? Contact us for expert guidance!

Contact us 👍


What’s app : +44 7451222110

Telegram: +66 936825227

 
 
 

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