If you’re planning to move to Singapore for work, study, or housing, one of the first things you’ll want to do is open a bank account. OCBC Bank is one of the leading banks in Singapore, and offers a range of banking services and products that cater to the needs of both locals and foreigners. In this article, you’ll learn everything you need to know about opening an OCBC account in Singapore.
To open an OCBC account in Singapore, you’ll need to meet certain eligibility criteria and provide certain documents. The eligibility criteria may vary depending on the type of account you want to open, but generally include being at least 18 years old, having a valid passport or ID card, and having a valid employment or student pass. You’ll also need to provide proof of address, such as a utility bill or rental agreement, and proof of income, such as a recent payslip or tax statement.
OCBC offers several types of accounts to suit different needs and preferences. These include savings accounts, current accounts, fixed deposit accounts, and more. Some accounts come with additional benefits and features, such as cashback rewards, higher interest rates, and free ATM withdrawals. Additionally, OCBC offers a range of digital banking services, such as mobile banking, online banking, and e-statements, to make banking more convenient and accessible for customers.
Key Takeaways
- To open an OCBC account in Singapore, you’ll need to meet certain eligibility criteria and provide certain documents, such as proof of address and income.
- OCBC offers several types of accounts, including savings accounts, current accounts, and fixed deposit accounts, to suit different needs and preferences.
- OCBC also offers a range of digital banking services, such as mobile banking and online banking, to make banking more convenient and accessible for customers.
Eligibility and Documents Required
When opening a bank account with OCBC in Singapore, there are certain eligibility requirements and necessary documents that you need to fulfill. Here are the details:
Criteria for Singapore Residents
If you are a Singapore resident, you will need to provide your NRIC and an image of your signature. Additionally, you will need to have a SingPass account for online verification.
Requirements for Foreign Customers
If you are a foreigner, you will need to provide your passport and a valid pass (e.g. Employment Pass (EP) or S-Pass or Student Pass) for verification purposes. Moreover, you will need to have a biometric chip passport from Hong Kong, Malaysia, Indonesia, or Mainland China to begin the account application and onboarding process via the OCBC Digital app.
It is important to note that eligibility requirements may vary depending on the type of account you wish to open. For instance, opening a current account may require different documents than opening a savings account.
When opening an account with OCBC, you should also be prepared to provide additional information such as your personal details, employment information, and financial information. This information is used to determine your creditworthiness and to ensure that you are eligible for the account you wish to open.
Overall, opening an account with OCBC in Singapore is a straightforward process as long as you have the necessary documents and meet the eligibility requirements.
Types of OCBC Accounts
If you’re looking to open an OCBC account in Singapore, you’ll be pleased to know that there are several types of accounts to choose from. Here are some of the most popular options:
Digital Account Opening
OCBC is the first bank in Singapore to offer fully digital account opening for foreigners. This means that you can open an account remotely via the OCBC Digital app, even before you arrive in Singapore. All you need is your biometric e-passport and ID card to complete the online application process. The Digital Account Opening Service is quick, easy, and secure, and you can start transacting in multiple currencies right away.
Multi-Currency and Global Accounts
OCBC also offers a range of multi-currency and global accounts that are designed to meet the needs of international customers. These accounts allow you to transact in multiple currencies and manage your finances across different countries. Some of the most popular options include:
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Statement Savings Account: This is a basic savings account that offers competitive interest rates and easy access to your funds. You can manage your account online or via mobile banking, and you’ll receive monthly statements to keep track of your transactions.
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Multi-Currency Account: This is a flexible account that allows you to hold and transact in up to 12 different currencies. You can switch between currencies instantly and enjoy competitive exchange rates for your transactions.
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Global Savings Account: This is a high-yield savings account that offers attractive intere