DBS, short for Development Bank of Singapore, is a solid banking option for expats in Singapore.
It offers several types of accounts that are relevant to expat needs:
- My Account Multi-currency accounts. Allows you to hold 12 foreign currencies in a single account, simplifying your cross-border transactions. No initial deposit or minimum account balance required.
- Multiplier accounts. Unlocks tiered interest rates to help you save more.
- DBS Treasures. For Accredited Investor expats with >$350k in deposits or investments. Lowest tier of wealth management services that provides you with personalized financial advisory services, investment opportunities, and priority banking services.
For non-residents, DBS bank account opening may be possible, but it will require you to visit a physical branch.
I have used DBS for my personal bank accounts.
