Any of you who plan to stay in Singapore might need to consider which bank is a suitable selection to save an account. Therefore, it is necessary to check which are the top seven bank in Singapore that suit the needs of most expatriates. So that it can help to accommodate important needs such as payroll, investment, and many more.
Singapore notes more than a hundred local banks in the country. Each bank might have positive and negative values that shall be considered well. Therefore, selecting the best bank is necessary. So that later on you will be able to create an account and securely manage your saving in this account while staying in the country. To give a further overview about the lists of the banks in Singapore that has well reputable, the following lists will help to brief the information.
Developmental Bank of Singapore
The first trusted bank in Singapore that can be a good reference for foreigners is the Developmental Bank of Singapore. This bank was set up in the year 1968, therefore, it has a long experience in providing services for Singaporeans and foreigners in this country. This long experience makes the bank one of the most reputable banks in Singapore. Furthermore, it also has more than 100 branches all over the country.
Developmental Bank of Singapore is also formerly known as DBS bank. Not only have a strong position in Singapore, but it also provides some more branches outside the country. Such as in Indonesia, Malaysia, and many other countries around Asia and the world.
Transfer Money Easily to Different Countries
United Overseas Bank
United Overseas Bank or UOB is also one of the trusted banks not only in Singapore but also in certain countries including Asia. Therefore, it is not surprising that many expatriates trust the bank to keep their savings and even to pay their monthly payroll. The bank offers various financial services and is completed with some excellent customer service. With many branches all across the country, UOB is a bank with a good reputation and financial capability. So that you wouldn’t need to feel worried if you decide to open a bank account with UOB while staying in Singapore.
Overseas Chinese Banking Corporation Bank
Another bank in Singapore that is also trustable and consists of many branches is Overseas Chinese Banking Corporation Bank or OCBC. This bank has a strong net income and total assets that are able to cover all their customers perfectly. Therefore, no need to worry to save your account with OCBC in Singapore.
OCBC is a merger of three banks namely Chinese Commercial Bank, the Ho Hong Bank, and the Oversea Chinese Bank. This merger makes OCBC one of the strong bank in Singapore with various financial services and interest fees. So that it is a good decision for putting investment and money account safely.
Standard Chartered Bank
This American bank provides its branches in Singapore many years ago. Therefore, no wonder if many expatriates from the US trust Standard Chartered Bank for saving their accounts and manage their payroll payments. The bank also provides many services such as saving accounts, deposits, loans, and credit cards. So that anyone who decides to open a bank account in this bank will be able to enjoy those services with minimum charges.
Another excellent bank in Singapore to trust is Citibank. This bank owns many branches across the world and notes a good income and asset in the country. Therefore, Citibank is one of the reputable banks trusted by many foreigners. Not only providing many financial services, it also offers various financial facilities such as credit cards and business loans. So that many businessmen in Singapore rely on Citibank to support the business to be a success.
Hong Kong and Shanghai Banking Corporation
The next bank in Singapore that are also worth trusting is Hong Kong and Shanghai Banking Corporation or HSBC. This is also a bank that has been used widely all over the world by many foreigners. With the number of branches that spread out all over the world, it eases anyone to manage a financial transaction everywhere with fewer charges. That is why it is one among many favorite bank in Singapore for expatriates.
State Bank of India
Those expatriates coming from India can trust the State Bank of India to manage their accounts and payroll. This bank also has a good reputation with great income and assets in Singapore. Not to mention the number of the branch and its excellent services. So that it is one of the most considered banks by foreigners from India to manage their savings. It also provides many Automatic Teller Machine in various places in Singapore to ease money withdrawal.
Download Transfez App
Transfez App can help you transfer money abroad more quickly and efficiently. Transfez Business can also help your business in making transactions abroad. For those of you who want to send money to relatives who are abroad because they are studying, working, or traveling, Transfez will be ready to help. This app is available on Android as well as iOS.
Those are all the top seven bank in Singapore that are suitable for any expatriates from various countries. Through this bank, you can securely make an account and leave your savings there. Furthermore, it is also a good way to manage your payroll while working in Singapore. So that you wouldn’t need to face various further problems such as currency rate or charges if using your bank account from your origin country.