Opening a personal bank account in Singapore as a foreigner is straightforward if you understand the documentation and residency requirements.


Singapore’s banking system is known for its efficiency, security, and global accessibility. Foreign individuals can open personal accounts, even without permanent residency, though some banks have stricter policies.

You'll typically need:

  • A valid passport
  • Proof of address (from home country or Singapore)
  • Employment pass, student pass, or proof of purpose Banks like DBS, OCBC, and UOB are expat-friendly. Some accounts can be opened digitally, though high-value accounts often require in-person verification. Choosing between current accounts and savings accounts depends on your needs. Savings accounts usually offer low interest but high liquidity, while fixed deposits provide better yields.

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Sophia Tan

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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.