Best banks in Singapore

Some of the best banks in Singapore are DBS Bank,  OCBC Bank, and UOB Bank.

Many banks see Singapore’s market as a prime location for making their imprint and expanding their operations. Here are some of the factors that contributed to their success.

  1. Foreign banks have opened branches in Singapore due to government backing and policies.
  2. The banks can readily connect to the globe from this key position.
  3. Singapore’s excellent level of life offers banks a tremendous market.

Thus, Singapore is a “banking hub.” Singapore’s banking industry had US$2 trillion in its assets.

In Singapore, the official currency is the Singapore dollar (SGD). Ten SGD is 7.45 US Dollars, or in euro is 6.77. That is 614.59 Indian Rupees or almost 53.76 Chinese Yuan.

Most websites or apps linked below are in English. Use Google TranslateTarjimly, or any other translation service if you need it.

How to choose a bank in Singapore

When choosing a bank in Singapore, several factors must be considered.

Reputation and stability

Choosing the best bank in Singapore means finding one with a solid reputation and stability. This way, you can trust that your finances are in good hands.

Products and services

Choose a bank based on account needs. Basic accounts like savings and checking are standard, while full-service banks offer advanced options like credit cards, loans, and investments.

Size of the bank


Most Singaporean banks offer their services at reasonable fees. Fees vary greatly depending on the bank so you can explore them accurately.

Financing costs

If you want to grow your money in a savings account or other savings vehicle, seeking higher interest rates is essential to optimize your savings efforts. One strategy to accomplish this is to compare the rates multiple banks offer.

Customer Service

When choosing a bank, it’s essential to consider client support and your financial needs. Look for a bank with helpful tools and features that fit your requirements and preferences.


Considering these factors, you can narrow your options and choose a bank that meets your financial needs.

Singaporean bank structure

There are more than 150 “major” banks. If we wish to classify the banking industry, we can split it in half.

Local Banks: 

Six banks serve the immediate area. The Development Bank of Singapore, the Overseas Chinese Banking Corporation, and the United Overseas Bank are the three largest financial institutions in Singapore.

Foreign Banks:

Around 150+ international financial institutions exist today. They are also divisible into other classes.

Full banks:

About 27 out of 30 banks are at capacity. The three largest are ABN Amro, BNP Paribas, and HSBC.

Wholesale banks:

In the wholesale banking industry, there are around 53 institutions. The Bank of Barclays, the Bank of ING, and the National Australia Bank stand out.

Offshore banks:

The number of offshore financial institutions is close to 37. Examples include the Bank of Korea and the Bank of Taiwan.

Merchant banks:

About 42 merchant banks can be found in Singapore. Credit Suisse Singapore Ltd., Axis Bank, and others deserve a mention.

List of the best banks in Singapore

You have several alternatives in Singapore, and which one you choose depends on your requirements and interests.

Here are some of the best banks in Singapore that you should consider:

DBS Bank


UOB Bank

Bank of Singapore

Standard Chartered Bank


CIMB Singapore

International Banks


RHB Bank Singapore


J.P. Morgan Singapore 


Digital Banks in Singapore

Revolut for daily usage

GXS for Savings

International usage and transfers – Wise

Best for Businesses—Aspire

SME-friendly Airwallex

Best Buy Now, Pay Later – Atome

Youtrip Wallet.

Can a Canadian citizen open a bank account in Singapore

Foreigners may establish a Singapore bank account online. Certain banks enable non-Singaporeans to establish savings accounts, while international investors may open trading or investment accounts.

Money transfers

You may send money overseas from Singapore using several different websites and services.

There are some options for sending money abroad:


Western Union



Open a bank account in Singapore

To open a bank account in Singapore, you need:

To choose a bank.

Opening a bank account is an option both online and in person.

You need to get all the documents that are required.

For more information:

Go to:

How to Open a bank account in Singapore

How to find a cash machine in Singapore

Talk to anyone who may have traveled or worked in Singapore. You will find that some of your friends or family know the nearest bank branches. Ask around and find opportunities among your contacts. An easy tool for doing that is any map app. Below is, for example, a Google Maps search for “ATMs near Singapore.”

Source: WallStreetMojo

The cover image is in Singapore. Photo by Hanson Lu on Unsplash


Leave a comment if you have any suggestions or experiences that can be useful to everyone.
Be careful to leave your personal details in public.

We are a group of volunteers, and we rarely reply to comments here.

Please contact us if you have questions or need help.

4 responses to “Best banks in Singapore”

  1. banks in Singapore have a minimum investment to open an account?

    how much is the minimum in dollar you need to deposit?

    can you open an account with Italian or Canadian passport?

    what other document you need?

    please be kind to replay to my question

    best regard

    sandrino romano

  2. Taha Mohammed Ahmed Monier Mehany

    كم تكلفه فتح حساب شخصى جارى ٢. هل يطلب إيداع مبلغ عند فتح حساب اقل مبلغ كم دولار ؟؟اقرب فرع فى البلاد العربيه يمكني فتح حساب فيه

  3. Bulk SMS Gateway In UAE | Best Bulk SMS Service In UAE

    Get the Best Bulk SMS Gateway in UAE for reliable and efficient mass messaging. Send SMS to your target audience with our top-rated Bulk SMS Service

  4. hello Semua orang saya benar-benar menderita apabila saya cuba mendapatkan pinjaman untuk rawatan saya dan saya telah ditipu oleh begitu banyak syarikat yang mendakwa membantu saya dan suami saya sakit buah pinggang sehingga dia perlu terbang ke Jerman untuk menjalani pembedahan tetapi bukan tanpa wang, sehingga saya mendapat kenalan di tapak tentang bagaimana syarikat PennyMac telah membantu ramai orang di negara kita jadi saya memutuskan untuk mencubanya dan membuat pembayaran sekali sahaja yang mereka minta daripada saya dan saya sangat gembira bahawa saya membuat pinjaman dengan mereka pada hari permohonan yang sama jumlah pinjaman saya sebanyak 120000usd telah diluluskan untuk saya dan kini suami saya telah kembali pulih dan dia telah pulih sepenuhnya, jadi saya ingin memberitahu setiap orang dan semua orang tahu bahawa syarikat kewangan PennyMac adalah sah dan sah menghantar e-mel kepada mereka di bawah (pennymacfinancialservices@aol.com) hubungi atau WhatsApp +1(785)893-7452 mereka benar-benar membantu kami di sini di negara kami dan saya sangat gembira tentang perkara ini hari ini dan saya memutuskan untuk beritahu setiap orang hari ini.


Leave a Reply

Your email address will not be published. Required fields are marked *