The position for success in the upcoming ten years will be enhanced by the inorganic deals that have been carried out and the new ventures that have been started. When it comes to utilizing emerging technology and creating a sustainable future, the bank will continue to be vigilant and quick-witted even in the face of an uncertain macroeconomic forecast.
You’ll find a number of banks providing a variety of services. However, you should consider advantages like a multi-currency account, no initial deposit, simple money transfers abroad, credit cards, and trade finance when choosing the best bank in Singapore if you are a foreigner.
Singapore provides many international businesses with an ideal site to operate their Asian regional operations due to its contemporary and expanding economy. One of the main reasons so many people want to move to Singapore is the high standard of living there. Opening a bank account is necessary if you are doing business or taking on a new career in Singapore.
Several Important Financial Services to Consider in Singapore
The banking needs of a non-resident in Singapore will differ greatly from those of someone who is a permanent resident. To begin with, you might need to send remittances home. Therefore, you would need a bank that can make foreign payments and money transfers simple.
The following are some common financial services that foreign nationals residing in Singapore could use on a regular basis:
- Accessibility of ATMs and banking services in Singapore and their home nation
- Competitive rates for both local and international money transfers
- A bank account with several currencies that allows withdrawals and deposits in different currencies for speedy transfers or payments
- Higher interest rates on savings accounts
- Reduced fines and relaxed the minimum balance threshold.
- Additional financial services such as credit cards, round-the-clock branches, various transfer options, overdraft protection, and club memberships
DBS provides a digital savings account via the Digibank app, making it simple to open a savings account and conduct banking operations on your phone from any location at any time.
Opening a multiplier account allows foreign nationals who are employed professionals to save more. You can transact in many product categories and get a bonus interest rate with DBS Multiplier. You can earn extra interest in multiple tiers with a maximum annual interest rate of 4.2% with a Multiplier Savings Account.
You may be qualified for a bonus interest rate with specific POSB/DBS product categories. It would be easier for you to boost your savings quickly if you had access to multiple product categories. Credit cards and PayLah! can now be combined into one category, making it simpler to get higher interest rates on savings.
Instant Multi-Currency Account for Foreigners
DBS offers a digital multi-currency account called My Account for everyone, including international students, for easy banking. To fulfil your financial needs and conduct banking the way you want, you can spend, save, invest, and customise a variety of banking services.
With Digibank, you can instantly access 13 currencies at competitive exchange rates without paying currency conversion fees. Further, you can convert currencies, pay bills, send money overseas, make retirement plans, and invest globally from anywhere online.
You can open a bank account in DBS, the Singapore Best Bank that helps meet your business or professional needs.
