A step-by-step guide for moving from a traditional bank to a digital bank in Singapore without disrupting your finances.



Switching to a digital bank can be a smooth process if planned carefully. Here’s a simple approach:

Step 1: Choose the right digital bank

Evaluate features, fees, and benefits. Consider whether you need multi-currency accounts, high-interest savings, or integrated investment tools.

Step 2: Open your new account

Most digital banks allow you to complete the entire onboarding process online, often in under 10 minutes. Have your NRIC or FIN, proof of address, and mobile device ready.

Step 3: Transfer your funds

Start with a partial transfer to test the platform. Once comfortable, move the remainder of your funds.

Step 4: Redirect payments

Update salary instructions, bill payments, and linked subscriptions to your new account.

Step 5: Close or downsize your old account

Avoid paying unnecessary fees by closing unused accounts or maintaining only the minimum balance required.

By following these steps, you can enjoy the benefits of digital banking—lower fees, better interest rates, and greater convenience—without unnecessary disruption.

Related FAQs

Browse all FAQs →
Sophia Tan

About the Author

Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.