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View Full Version : How to open a bank account in Singapore?


John Chu
04-19-2010, 01:43 PM
Hello,
I have opened a Trading Account with a broker. But I'm having problems with funding my account. The broker only accepts bank wire (because of their money laundering policy). Because of the government policy (Viet Nam), transferring money abroad is hard (because of USD deficit).So I want to open a Singapore bank account to help funding my account easier. I really need your help. It is very important for me.

Thank you very much.

Failsafe Payments
04-20-2010, 02:03 AM
If you have enough capital to put in I recommend HSBC Singapore and a Premier Account.

Premier Account gives you the ability to open bank accounts in any country HSBC are represented in through the very same channel.

u4t2t
04-20-2010, 04:50 AM
if you cna visit bank in Singapore i think you can open account at almost any bank there, without visit i think RBS and HSBC would be only options

Failsafe Payments
04-20-2010, 04:58 AM
That is not correct.

HSBC Singapore can be done by distance.

Not sure about RBS though as I have no experience with that bank.

u4t2t
04-20-2010, 05:03 AM
i said that only HSBC and RBS cna be opened by mail

Failsafe Payments
04-20-2010, 05:06 AM
That is right. Sorry about that.

Misread your post.

Most banks in Singapore, like DBS and others, usually require a visit but once there its usually quite easy.

John Chu
04-20-2010, 06:02 AM
Hi all,
thank you very much for your reply.
About HSBC, they do provide Offshore Bank Accounts. But their minimum deposit and minimum balance is big. So I think I could not afford that.
About DBS. They require me: "For foreigners, please bring along your passport and the relevant pass issued by the Immigration and Checkpoint Authority of Singapore." -> I do not work in Singapore or study in Singapore so how do I get "the relevant pass"?
Another option I found is I could open a Virtual Office in Singapore and the guy in the office will help me to open a bank account in DBS. (Maybe they know someone who can give accreditation to me?) But I'm not sure about their creditability.
What is your opinion about the above options?

Thank you.

ledlander2
05-21-2010, 11:05 AM
If you search you will see that you cannot do Singapore without going there.

Failsafe Payments
05-21-2010, 03:27 PM
Nope. That is not correct. I did it personally so I know you dont have to go there.

OffshoreProcessing
05-22-2010, 09:56 AM
Generally speaking banks in Asia require a visit. That being said there are of course always exceptions.

Some, ie. HSBC for example will in many cases will offer distance banking if the client can go to a local branch of the same group to have documents certified in branch.

u4t2t
05-22-2010, 12:32 PM
Generally speaking banks in Asia require a visit. That being said there are of course always exceptions.

requirements about visit vary from bank to bank and country to country, ther are options where you can open account at banks in Asia without visit.