Singapore Guide · Bank Accounts
Account opening conditions and approval are decided by each bank. The Q&As below cover what to know before opening an account.
FAQ
What is the difference between private banking and a regular bank account?
Private banking serves clients with larger assets, usually with a dedicated relationship manager and a more comprehensive range of banking services. Account opening thresholds, service scope and fees are set by each bank.
Source: Bank websites
What do I need to open a bank account in Singapore?
Personal accounts generally require a passport, a pass (if any) and proof of address. Requirements for non-residents are usually stricter; some banks require an interview and, under anti-money-laundering rules, ask about the source of funds and the purpose of the account. Some banks allow remote signing (from outside Singapore); approval is at the bank's discretion.
Source: MAS; bank websites (website: mas.gov.sg)
Data as read on 1 October 2026. Policies may change; please refer to the latest official announcements, and consult a professional for your own situation.
Official references
- MAS: MAS Financial Institutions Directory eservices.mas.gov.sg/fid
- IRAS: Common Reporting Standard (CRS) www.iras.gov.sg (Search the site for: Common Reporting Standard)
Policies may change; please refer to the latest official announcements.
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Financial Planning Basics · CPF · Healthcare · Tax · Work Passes and Residency · Setting Up a Company · Children's Education · Family Arrangements · Family Offices · Insurance guides
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