When looking to understand the banking landscape in Singapore, you’ll find a mix of local and international banks. These institutions play a vital role in the nation’s economy and provide various services to meet your financial needs. Knowing the top banks in Singapore can help you make informed decisions about where to manage your money.
Singapore is renowned as a global banking hub, attracting businesses and individuals alike. The banks here offer competitive services and products, making it essential to compare your options. Whether you’re opening a personal account or seeking business solutions, learning about these will guide you in selecting the right financial partner.
1) DBS Thomson Branch (All Services)
When you visit DBS Thomson Branch in Thomson Plaza, you will find a welcoming atmosphere. The staff are eager to help and make your banking experience smooth. Whether you need to report a scam or transfer funds, they will guide you through the process.
The branch offers a variety of services that cater to your banking needs. If you want to avoid long queues, using their digibank app is a great option. You can handle many transactions online without needing to visit the branch.
They also have a new coin deposit machine that allows you to deposit coins and notes in one go. This change makes it more efficient to manage your cash. If you prefer to talk to someone, their friendly team is ready to assist you with any queries.
For your convenience, the branch has ticketing hours during weekdays and Saturdays. This makes it easier to plan your visit, ensuring you get the help you need when you need it.
Rating: 4.1 (37 reviews)
Location: 301 Upper Thomson Rd, #01-45, Thomson Plaza, 574408
Contact: 1800 111 1111
Website: Visit Website
2) PT Bank Rakyat Indonesia (Persero) Tbk. Singapore Branch
When you visit PT Bank Rakyat Indonesia in Singapore, you’ll find a welcoming atmosphere. The staff are friendly and ready to help you with your banking needs. Whether you’re looking for advice or a quick transaction, they make sure you feel valued.
It is located conveniently in the city, making it easy to access. It’s a good spot for both locals and expatriates. The layout is modern and comfortable, which adds to the overall experience. You can enjoy the clean and professional environment while taking care of your banking tasks.
Many customers appreciate their prompt service. It’s clear they focus on providing quality support. You might notice that they often go the extra mile to ensure your needs are met. This dedication helps to build trust with their clients.
If you need to reach out for any inquiries, you can easily contact them. Having a reliable bank nearby can make a big difference in managing your finances.
Rating: 4.4 (57 reviews)
Location: 50 Collyer Quay, #08-06, 049321
Contact: 6805 0680
Website: Visit Website
3) UOB Branch – Thomson Branch
When you visit the UOB Branch on Thomson Road, you’ll find a welcoming environment. The staff are friendly and ready to help with your banking needs. You can expect a range of services, whether you are there to open an account or manage your savings.
The branch is currently undergoing renovations, but it continues to provide full banking services. You might notice some minor noise and slightly longer wait times, but this shouldn’t affect your overall experience.
It’s easy to plan your visit. You can make an appointment in advance or simply walk in to get assistance. The staff are usually quick to help, ensuring you get what you need without much delay.
If you need information or assistance regarding specific banking matters, the branch is a great resource. They offer helpful guides and tips to navigate common banking issues.
Rating: 3 (49 reviews)
Location: 251, 253 Upper Thomson Rd, 574376
Contact: 1800 222 2121
Website: Visit Website
4) Bank Of China Main Branch
When you walk into the Bank of China Main Branch, you’ll notice the busy atmosphere. The staff are friendly and ready to assist you with your banking needs. Whether you’re there for personal or business banking, they provide a range of services to help you.
The building itself is impressive, located at Battery Road. Its central location makes it easily accessible, which is great if you’re in the area. You might find it helpful to visit during weekdays to avoid the weekend rush.
Inside, the layout is modern and welcoming. You can expect to find comfortable seating while you wait. The bank offers various financial products, including loans and investment services tailored to customer needs.
Don’t forget to check out their website for more detailed information on the services they offer. This can save you time if you have specific questions before your visit.
Rating: 3 (62 reviews)
Location: 4 Battery Rd, Bank of China Building, 049908
Contact: 1800 669 5566
Website: Visit Website
5) Bordier & Cie
When you walk into Bordier & Cie, you feel the commitment to personal service. The staff are attentive and genuinely interested in helping you with your financial needs. It’s clear that they prioritise building strong, lasting relationships with their clients.
Their experience spans nearly 200 years, providing a wealth of expertise. You sense confidence in their advice, as they tailor solutions to fit your unique circumstances. It’s evident that they have a strong focus on understanding your priorities.
Bordier offers a range of financial services, positioning themselves as trusted advisors. They listen carefully to your concerns, ensuring that their guidance aligns with your goals. You can rely on them to help navigate complex financial decisions.
With a global reach, they combine local knowledge with international insights. You can trust Bordier to provide guidance that makes a difference in your financial life.
Rating: 5 (1 review)
Location: 138 Market Street, #14-00 CapitaGreen, 048946
Contact: 6239 9999
Website: Visit Website
6) E.SUN Bank Singapore Branch
E.SUN Bank Singapore Branch is a welcoming place right in the heart of Singapore’s financial district. When you enter, you’ll notice a modern and clean layout that makes transactions feel easy and smooth. The staff are friendly and ready to assist you with any banking needs you might have.
This branch plays an important role in connecting businesses across the ASEAN region. They focus on trade financing and offer a range of financial services to help businesses grow. Whether you need help with foreign currency accounts or investment advice, they have professionals on hand to guide you.
If you’re looking to expand your business or investment opportunities, their wealth management team is keen to assist. They provide various products suited for both corporate and personal clients. It’s a great spot for those who value a personal touch in their banking services.
You can easily reach E.SUN Bank through public transport, making it convenient for both locals and visitors alike. It’s clear that this bank aims to provide both value and service in a friendly environment.
Rating: 5 (1 review)
Location: 8 Marina Boulevard, #09-01, Tower 1, Marina Bay Financial Centre, 018981
Contact: 6533 1313
Website: Visit Website
7) Chang Hwa Commercial Bank Ltd
When you visit Chang Hwa Commercial Bank Ltd, you’ll find a welcoming atmosphere. The staff are friendly and eager to assist you with your banking needs. It’s a nice place to handle your financial transactions without feeling rushed.
It is located in a convenient area. Whether you’re stopping by for basic banking services or more complex needs, you’ll feel comfortable here. Their services are efficient and easy to navigate.
You can expect a clean and organised environment when you walk in. The setting makes it easy to discuss your banking matters privately. It’s refreshing to see a bank that values customer service.
If you need assistance, don’t hesitate to ask the staff. They provide good guidance and help you understand your options. This approach makes banking simple and straightforward for everyone.
Rating: 4 (2 reviews)
Location: 1 Finlayson Green, #08-00, Singapore 049246
Contact: 6532 0820
Website: Visit Website
8) HSBC Holland Village Branch
When you walk into HSBC’s Holland Village Branch, you might notice its welcoming atmosphere. The staff are friendly and ready to assist you with your banking needs. Whether you’re looking to open an account or need help with transactions, they make the process smooth.
It’s located in a lively area, making it easy to visit while you explore Holland Village. This branch offers a range of services, from everyday banking to various financial products. You’ll find everything you need to manage your money effectively.
The branch is well-equipped to provide support for both local and overseas banking. If you’re dealing with international accounts or foreign currency, the team here has experience to guide you. They are also attentive to security, ensuring your personal information is well protected.
If you’re planning a visit, be sure to check their website for any updates or special offers. This can enhance your experience even more.
Rating: 1.9 (93 reviews)
Location: 263 Holland Ave, 278987
Contact: 1800 472 2669
Website: Visit Website
9) Rabobank
Rabobank offers a friendly and supportive environment for banking. When you step inside, you’ll find a welcoming atmosphere that makes you feel at ease. The staff are knowledgeable and ready to help with your banking needs.
It focuses on providing services tailored to your specific needs. Whether you’re looking for personal banking or business solutions. You can expect friendly advice and guidance to find the right options for you.
Located in the heart of Singapore, Rabobank is easy to reach. It’s a convenient spot for both locals and visitors. After your visit, you can explore the nearby area and enjoy the vibrant surroundings.
Make sure to check out their services and see how they can help you manage your finances smoothly. You won’t be disappointed with the level of service you receive here.
Rating: 5 (3 reviews)
Location: 38 Beach Rd, #31-11, South Beach Tower, 189767
Contact: 6536 3363
Website: Visit Website
Banking Regulations in Singapore
Singapore has a strong regulatory framework for its banking sector, aimed at ensuring stability and transparency. This is largely overseen by the Monetary Authority of Singapore (MAS). Understanding the key components of this framework is essential for anyone interested in the banking landscape.
Monetary Authority of Singapore (MAS)
The MAS acts as the central bank of Singapore. It was established to promote financial stability and development. MAS supervises the banking sector, ensuring that banks comply with local laws and international standards.
As part of its duties, MAS sets regulations related to risk management, capital adequacy, and anti-money laundering. This creates a secure environment for depositors and investors.
MAS also focuses on consumer protection. It regularly updates its guidelines to keep pace with financial innovations and evolving risks. By fostering a sound banking system, MAS helps maintain confidence in Singapore’s financial markets.
Licensing and Compliance
Licensing is a crucial part of the regulatory process. All banks operating in Singapore must obtain a licence from the MAS. This ensures that only qualified institutions can provide banking services to the public.
The requirements for licensing include demonstrating sufficient financial strength and a good governance structure.
Once licensed, banks must comply with ongoing regulations. These include regular reporting, internal audits, and risk management frameworks. Non-compliance can lead to penalties or even revocation of the banking licence, ensuring that institutions prioritise safety and integrity.
In summary, the licensing and compliance processes are in place to safeguard the integrity of Singapore’s banking sector, benefiting both consumers and businesses alike.
Digital Banking Trends
In recent years, Singapore has seen rapid growth in digital banking. Five digital banks launched between 2022 and 2025, reshaping the banking scene.
Key Digital Banks:
- Trust Bank
- GXS Bank
- MariBank
- ANEXT Bank
- Green Link Digital Bank
These banks focus on providing easier access and user-friendly services. They cater mainly to retail customers, making banking simpler for your everyday needs.
Current Trends:
- Increased Competition: Traditional banks face new challenges from digital banks, driving innovations in service.
- Tech Integration: Digital banks are using advanced technology like AI to improve customer experiences.
- Financial Inclusion: Digital banks aim to reach more people, including those underserved by traditional banks.
- Mobile Banking Growth: As users increasingly favour mobile banking, banks are optimising their apps for better usability.
Market Potential:
The digital banking market in Singapore expects to reach US$4.79 billion by 2025. This growth shows a strong shift towards online solutions.
Data shows that digital platforms are becoming the go-to option for many. The future of banking in Singapore looks digital, making it easier for you to manage your finances anytime, anywhere.
Financial Products and Services
In Singapore, banks provide a variety of financial products and services to meet your needs. This includes accounts for everyday transactions and options for growing your wealth.
Savings and Current Accounts
Most banks in Singapore offer both savings and current accounts. Savings accounts typically earn interest, allowing your money to grow over time. Features often include no monthly fees and easy access to funds.
Current accounts are ideal for daily transactions. You can deposit and withdraw money easily and use online banking services. Some banks, like DBS and UOB, offer bonus interest rates when certain criteria are met, encouraging you to save more.
Key Features:
- Interest Rates: Vary by bank and account type.
- Fees: Many accounts come with no monthly fees.
- Accessibility: Online and mobile banking make it easy to manage your finances.
Investments and Wealth Management
For those looking to invest, banks in Singapore provide a range of investment products. These options can include stocks, bonds, and mutual funds. Wealth management services are often available for clients with higher amounts to invest.
You can work with financial advisors to create a tailored investment plan. These advisors help you understand risks and potential returns. They may also offer portfolio management services to keep your investments on track.
Investment Options:
- Mutual Funds: Pool money with others to invest in a diversified portfolio.
- Stocks and Bonds: Direct investments that can offer higher returns, but also come with risks.
- Advisory Services: Professional guidance on managing your investments effectively.
Frequently Asked Questions
This section covers key questions about the banking landscape in Singapore. You will find specific guidance on how banks are ranked, suggestions for expatriates, comparisons of asset sizes, tips for choosing accounts, a look at private banks, and features offered by leading banks.
What are the main criteria for ranking the top banks in Singapore?
The main criteria include total assets, customer service quality, range of services, fees, and the overall reputation. These factors help determine which banks meet the needs of customers effectively.
Can you suggest some prominent banks for expatriates in Singapore?
DBS Bank, UOB, and OCBC are popular options for expatriates. They provide services tailored to foreign residents, such as multi-currency accounts and international transfers.
How do the largest banks in Singapore compare in terms of assets?
DBS Bank holds the highest assets at approximately USD 509.1 billion, followed by OCBC with around USD 402.2 billion and UOB with about USD 340.7 billion. These figures highlight their strong positions in the banking sector.
What should one look for when choosing the best bank account in Singapore?
Consider factors such as fees, interest rates, accessibility, and whether it offers online banking. Also, look at the types of accounts available, like savings or current accounts, to find the best fit for your needs.
Could you provide an overview of the renowned private banks in Singapore?
Renowned private banks in Singapore include DBS Private Bank and OCBC Private Banking. They offer personalised banking services, investment advice, and wealth management, catering mainly to high-net-worth individuals.
What features do the leading five Singaporean banks offer?
The leading banks offer various features such as mobile banking, 24/7 customer support, competitive interest rates, and digital payment options. They also provide financial products tailored to personal and business needs.