A comprehensive, plain-English FAQ that answers the most searched questions about Singapore banking in 2025—covering personal and SME accounts, PayNow & FAST, fees, multi-currency setups, FX, onboarding documents, private banking thresholds
The Australian Dollar (AUD) is the official currency of Australia and is popular in the Asia-Pacific region for trade and investment. Detailed Introduction: Issued by the Reserve Bank of Australia, the AUD is a commodity-linked currency, often influe
The Chinese Yuan (CNY), also known as Renminbi (RMB), is the official currency of the People’s Republic of China. This guide discusses its role in Singapore’s financial system. Detailed Introduction: Issued by the People’s Bank of China, CNY ha
The British Pound Sterling (GBP) is the currency of the United Kingdom and one of the oldest currencies still in use. This guide explains GBP’s relevance to Singapore and exchange options. Detailed Introduction: Issued by the Bank of England, GBP i
The Japanese Yen (JPY) is the official currency of Japan and one of the most traded currencies worldwide. This guide explains its role in Singapore’s economy and financial services. Detailed Introduction: The Yen is issued by the Bank of Japan (BOJ
The Euro (EUR) is the official currency of the Eurozone and one of the most traded currencies globally. This guide covers the Euro’s role in Singapore and how to manage EUR transactions. Detailed Introduction: The Euro is issued by the European Cen
The Singapore Dollar (SGD) is the official currency of Singapore, managed by the Monetary Authority of Singapore (MAS). This guide explains its role in the economy, uses, and exchange options. Detailed Introduction: The SGD is issued by MAS and is kn
The United States Dollar (USD) is the world’s most traded currency and serves as the primary global reserve currency. In Singapore, USD is widely used for international trade, investment, and travel. This guide explains the USD’s significance, it
Revolut is a digital finance platform offering multi currency accounts, cards, international transfers, and budgeting tools. It operates under payments and e money regulations where applicable and is not the same as a full service bank account. Check
Wise is a financial technology company offering international transfers and a multi currency account with debit card functionality. It is not a traditional bank; features and safeguarding are provided under payments regulations in relevant jurisdicti