OCBC Singapore

: 2024 Review

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OCBC Singapore

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OCBC, short for Oversea-Chinese Banking Corp, is the second largest bank in Singapore. They offer a wide range of banking products and services, particularly having a reputation for being more friendly towards foreign individuals & businesses looking to open up a bank account.

OCBC offers the OCBC 360 Account, a high-yield savings account. Initial minimum deposit is S$1,000 and minimum account balance (without fee) is S$3,000.

In 2023, OCBC started offering certain non-residents the ability to open a bank account remotely:

  • Individuals from Malaysia, Indonesia, mainland China and Hong Kong SAR can open SGD and multi-currency accounts on the OCBC Digital app remotely
  • To start, they need to apply for an account using the OCBC Digital App and verify using their passport/ID card

For other non-residents, you can request opening a personal or business bank account as a non-resident by visiting a physical branch. Ideally, you should know what accounts you want to open (brokerage) and for what purpose (investing) to increase the chances that your banker will open your account.

Dexter Zhuang
Dexter Zhuang

Dexter is the founder of Money Abroad, an online education platform helping high-performers design their independent money path. He has 10+ years of experience building products and teams at public companies (Dropbox) and scaling startups (Xendit) across the US, Asia, and Latin America. His work has been featured in global outlets like Business Insider, CBS, US News & World Report, and Tech in Asia. He graduated from Dartmouth College.

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