Setting Up a Bank Account in Singapore as an International Student
So you’ve landed in Singapore for school. Nice. Now you need a bank account that won’t screw you over while you’re trying to focus on not failing your classes.
Cut the Crap: What You Actually Need to Know
Banks love making students jump through hoops like we’re all secret money launderers with offshore accounts. They want proof that your cash isn’t coming from some Breaking Bad operation when in reality it’s just your parents transferring your living expenses.
What do they expect? A dramatic reenactment of your parents handing you money with notarized documentation?
Here’s the real deal without the banking industry BS:
What Documents You Need
- Valid Passport: Duh.
- Student Pass: Proves you’re actually studying here.
- Proof of Address: Rental contract, utility bill, whatever shows where you crash.
Banks That Won’t Interrogate You About Your Money
I’ve done the homework so you don’t have to waste hours comparing options that all basically do the same thing:
DBS Bank My Account — Most popular, solid app, ATMs everywhere. If you’re lazy and want the default option, go with this.
Standard Chartered Bank JumpStart Account — Slick mobile app that doesn’t look like it was designed in 2005. Best digital experience.
Frank by OCBC Bank — Decent account specs but their mobile app is hot garbage. Works fine otherwise.
Trust Bank — Good for a second account if you want to split your funds or hide beer money from yourself.
All these options give you: no minimum balance garbage, no monthly fees bullshit, and student-friendly features.
FinTech Alternative: Skip Traditional Banks Entirely
Want to go digital-only? Check out Revolut. It’s like banking for people who’ve used technology made after 2010:
- Multi-currency accounts without the exchange rate ripoff
- Real-time spending tracking that shows exactly how broke you are
- Virtual cards so online sellers can’t steal your main card details
- Fee-free transfers back home
Why Bother With a Singapore Bank Account?
Look, you could try surviving on your home country’s account, but:
- You’ll bleed money on ATM fees and currency conversion
- You’ll struggle setting up local services that need a local account
- Your home bank will flag every purchase as “suspicious activity”
- Singapore’s banking security makes Fort Knox look like a cardboard box
Opening Your Account: Step By Step
- Pick your bank: Just choose one from the list above and stop overthinking it.
- Grab your docs: Passport, student pass, address proof. Digital copies for online, physical for in-person.
- Apply online or in-person: Links are below. Online is faster unless you have weird questions.
- Wait for approval: Usually takes 1-3 business days.
- Set up your online banking: Download their app immediately and set up all the security stuff.
Application Links
Optional shortcut: Get Singpass and some banks will pull your info automatically without all the document hassle.
Don’t Get Scammed, Idiot
Singapore’s safe, but scammers are everywhere. Their favorite tricks:
- Phishing emails/texts: “Your account is locked!” No it’s not. Delete.
- Fake bank calls: Singapore banks won’t randomly call asking for your password or OTP.
- Sketchy links: Don’t click on weird URLs, even if they promise free bubble tea.
- Fake banking apps: Only download apps from official app stores, not random websites.
If an offer sounds too good to be true, it is. No, you didn’t win a contest you never entered. No, that prince doesn’t want to share his fortune.
Bottom Line
Getting a bank account in Singapore is pretty straightforward if you have your docs in order. Pick a bank with no fees, set up proper online banking, and don’t be stupid with your banking info.
Welcome to Singapore. Now go study or whatever you’re supposed to be doing here.
