Bank accounts

A bank account is the prerequisite to basic survival in Singapore.

There are a few selections to chose from. Some of the key factors are: What sort of ID do you have with you (when you first land, not a lot) and also where are the ATMs?

I ended up going with DBS as they had minimal paper requirements (passport and IPA letter). Expect the set up to take at least an hour, and to re-answer the same question multiple times. While they have a good number of ATMs in Singapore, you can also use the ATMs of their sister-bank POSB for free too.

You don’t need cash to set up the account and you can wire money from the US later. You can also set up a multi-currency account, where you have both USD (or another currency) and Singapore dollars. You can easily move money between the two via the website.

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