This article provides an overview of the most reliable Singapore Banks so you can decide which option is ideal for you. You can see the details at https://sgbanks.com/banks.
Development Bank of Singapore (DBS) – this is one of the largest banks in Singapore with a developed branch network in Southeast Asia. Minimum requirements for documents when opening an account, a debit card is issued to the account. Minimum initial deposit and monthly balance for a current account in USD 50,000. S$500 account opening fee, no monthly maintenance fee.
UOB (United Overseas Bank) – UOB has become Singapore’s largest bank by market capitalization, credit cards and consumer lending. UOB has more than 500 offices in 19 countries in Asia, Western Europe and the United States.
Citibank – It is the strongest international banking group. The minimum initial deposit to an account is S$50,000, the average monthly balance is $50,000, if the balance is less than this amount, the bank charges an account maintenance fee.
Standard Chartered Bank (SCB) – this is one of the largest international banks, the client can be provided with a personal manager. The director and all account managers must be personally interviewed by the bank manager in Singapore.
Oversea-Chinese Banking Corporation or OCBC Bank – is a large Asian banking group. The bank offers simplified certification of founding documents for account opening and low initial deposit requirements, as well as minimal cost of account maintenance for new customers. For the account in Singapore dollars Business Entrepreneur initial deposit is S$500.
Monetary Authority of Singapore (MAS) – Central Bank of Singapore. Earlier the duties of a central bank were carried out by a number of state agencies. The MAS is in charge of financial sector regulation and all components of credit policy as well as the issuance of money.