Singapore is one of the world’s leading financial centres. In fact, Singapore ranks as 3^rd, just behind London and New York City, on the Global Financial Centers Index (GFCI). Take a stroll down the Central Business District (CBD) area of Singapore and you’ll find yourself surrounded by the sheer number of buildings belonging to international and local banks that have set up their offices here in Singapore. Even around the heartlands of Singapore, you can ensure that financial services offered by various banks can be found at almost every corner.

After settling on a serviced apartment, the next thing to get in order for a successful stay in Singapore is your basic finances. This article shares with you some simple tips you should take note of when looking to open a bank account here in Singapore!

Singapore is one of the world’s leading financial centers. In fact, Singapore ranks as 3^rd, just behind London and New York City, on the Global Financial Centers Index (GFCI). Take a stroll down the Central Business District (CBD) area of Singapore and you’ll find yourself surrounded by the sheer number of buildings belonging to international and local banks that have set up their offices here in Singapore. Even around the heartlands of Singapore, you can ensure that financial services offered by various banks can be found at almost every corner.

With the high accessibility, coupled with our quick guide, your basic finances can be arranged hassle free! This article shares with you some simple tips you should take note of when looking to open a bank account here in Singapore!

If you are concerned about any trouble setting up bank accounts here in Singapore, you can actually approach an international bank that offers services in both Singapore and your home country to assist you with this process. Some of these banks include Citibank, Standard Chartered, UOB and many others! However, these assisted set ups might require higher amounts of initial deposits.

As previously mentioned, there are many different banks available here in Singapore, each with mostly similar but also unique services available to suit your different needs.

• Citibank
• Development Bank of Singapore (DBS)
• Maybank
• Standard Chartered Bank
• United Overseas Bank (UOB)
• Overseas-Chinese Banking Corporation (OCBC)
• & many others!

Another way in which you can obtain quick cash from your own home bank account would be through withdrawals from the ATM machines available here. For example, for those coming from the United States, it is possible to withdraw money from your U.S. Bank accounts by using your U.S. Bank debit cards in ATMs here with the eligible PLUS ATMs. However, you have to keep in mind the transactional fees that differ from bank to bank. However, it is still a quick and great way to obtain the much-needed cash.

Because of Singapore’s financial connectivity with the rest of the world, it is possible to transfer/obtain cash through banks from almost anywhere in the world! However, banks also do have international transactional fees, so once again, it is something important to take note when choosing ways to obtain your cash from overseas. It is also imperative to get the right routing and account numbers to prevent any erroneous transfers!