Open An Acoount In Singapore Bank

[the pleiadian]

A few years ago I opened a bank account in Hong Kong. It was easy and require no local address. They also have all kinds of foreign currency accounts. I am thinking to open a bank account in Singapore next trip there to wire in money from overseas and do a foriegn currency fixed account. Do you need a local adress or you can write anything for local adress? Whats a good bank there? UOB?

[alexth]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

[cclub75]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

Are you a resident in Singapore ? If not, did they ask you for an address in Singapore ?

And did they ask you a kind of minimum deposit ?

[naka]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

Are you a resident in Singapore ? If not, did they ask you for an address in Singapore ?

And did they ask you a kind of minimum deposit ?

No need to be a resident, here'e the link below.

HSBC Non Resident Accounts

Naka.

[kudroz]

I was refused at the HSBC in Singapore because my proof of address was not convincing. I had a "leasing agreement" in english for a house here in Thailand. If you plan on going there, contact them first to make sure you have the required documents.

[ffm]

They want a Proof of Address. So bring something like a credit card bill, utility bill, or some official document that can be considered as a proof of residence. Of course in your name. If the document is in Thai, they will fax it to their Bangkok office to get it translated.

[Khun Bob]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

Are you a resident in Singapore ? If not, did they ask you for an address in Singapore ?

And did they ask you a kind of minimum deposit ?

No need to be a resident, here'e the link below.

HSBC Non Resident Accounts

Naka.

Is it necessary to go to singapore to open this account there or can it be done remotely ?

Also, is there anywhere that explains how secure money is in singapore banks and what information they will/wont disclose and under what circumstances ?

[naka]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

Are you a resident in Singapore ? If not, did they ask you for an address in Singapore ?

And did they ask you a kind of minimum deposit ?

No need to be a resident, here'e the link below.

HSBC Non Resident Accounts

Naka.

Is it necessary to go to singapore to open this account there or can it be done remotely ?

Also, is there anywhere that explains how secure money is in singapore banks and what information they will/wont disclose and under what circumstances ?

Singapore is a AAA rated banking location.

Also, no need to go there in person.

Why did you not read the info on their website ?

Some folks are beyond help !!!

Naka.

Edited October 16, 2006 by naka

[alexth]

I've opened an account in July with HSBC in Singapore, it took 3 days to open the account and they've also gave me a secure credit card, a very good service, good online banking system and everything.

Are you a resident in Singapore ? If not, did they ask you for an address in Singapore ?

And did they ask you a kind of minimum deposit ?

No need to be a resident, here'e the link below.

HSBC Non Resident Accounts

Naka.

Is it necessary to go to singapore to open this account there or can it be done remotely ?

Also, is there anywhere that explains how secure money is in singapore banks and what information they will/wont disclose and under what circumstances ?

Singapore is a AAA rated banking location.

Also, no need to go there in person.

Why did you not read the info on their website ?

Some folks are beyond help !!!

Naka.

Naka, I will have to disagree here, I have opened my account in Singapore in July and I had to go there in person in order to open a savings account and a secure credit card with HSBC. I called them prior travelling and they told me that I have to be there in person in order to open the account.

[Khun Bob]

Thanks for the replies - so do you know of a bank in singapore that i can open an account without being present and anywhere i can read up on the baning laws singapore has (and how they compare to switzerland say)?

TIA

[Naam]

"Singapore banking laws"

...are as good or better than those of Switzerland!

[the pleiadian]

I contact DBS and UOB in Singapore, both do not require local address, but they want a letter of referal. UOB said if you have a acount with UOB in Thailand, HK, or else where, the bank can write you a letter referal, no problem. DBS said they want a DBS customer to write a introduction letter, I have friends with DBS acounts, so no problem. But without the letters, I think still okay to open in most cases, if you look decent. The USD 6 month fixed in UOB or DBS is about 4.6-4.7% and better than Hong Kong banks now or Bangkok Bank which is only 4.1% for 6 month fixed. A big diffrence if you have a big number to deposit.

[Naam]

" The USD 6 month fixed in UOB or DBS is about 4.6-4.7%..."

*****

...and that means they are cheating you. 6M fixed deposit should not be less than 5.20%, i am getting 5.17% on OVERNIGHT money!

[cclub75]

I contact DBS and UOB in Singapore, both do not require local address, but they want a letter of referal. UOB said if you have a acount with UOB in Thailand, HK, or else where, the bank can write you a letter referal, no problem. DBS said they want a DBS customer to write a introduction letter, I have friends with DBS acounts, so no problem. But without the letters, I think still okay to open in most cases, if you look decent. The USD 6 month fixed in UOB or DBS is about 4.6-4.7% and better than Hong Kong banks now or Bangkok Bank which is only 4.1% for 6 month fixed. A big diffrence if you have a big number to deposit.

You forgot to add : no taxes on interests in Singapore ! So, with a higher rate and no taxe, it's much more interesting than Bangkok Bank...

I agree for the "letter of introduction". OCBC asked me the same. However, if your deposit is... large enough, and if you provide other documents, then no problem.

This is why I was a little bit surprised by the message about HSBC (see first page).

[Khun Bob]

Sorry - maybe in my last post i wasnt so clear - what i should have said is... Is singapore's banking secracy (laws?) as good as (or better than) switzerland ?

If there is no (witholding) tax to pay the this is a significant advantage over switzerland as a EU resident has to pay 33% withholding tax at the mo or have their details disclosed to the tax authorities... However, if Singapore's secracy is different from Switzerlands then I need to understand why. Anyone know where these details could be found for Singapore.

A few months back I did some research and ICICI bank (Indian) have a branch there. If references are generally required then I have an account with them all ready. I have accounts with HSBC all ready, but from this thread people are saying that it is necessary to visit HSBC's branch in singapore. Is this the case only when you dont have a relationship with HSBC all ready ?

Thanks

[Khun Bob]

Sorry - maybe in my last post i wasnt so clear - what i should have said is... Is singapore's banking secracy (laws?) as good as (or better than) switzerland ?

If there is no (witholding) tax to pay the this is a significant advantage over switzerland as a EU resident has to pay 33% withholding tax at the mo or have their details disclosed to the tax authorities... However, if Singapore's secracy is different from Switzerlands then I need to understand why. Anyone know where these details could be found for Singapore.

A few months back I did some research and ICICI bank (Indian) have a branch there. If references are generally required then I have an account with them all ready. I have accounts with HSBC all ready, but from this thread people are saying that it is necessary to visit HSBC's branch in singapore. Is this the case only when you dont have a relationship with HSBC all ready ?

Thanks

Bump - any takers ?

[Khun Bob]

Anyone opened a citi bank account in singapore remotely ?

Also how does citibank compare to say HSBC ? What do you like/what not ?

Any other Singapore banks that come highly recommended and is possible to remotely open an account ?