Singapore personal bank account introducer?

[bibing]

Does anybody here offer services to introduce people to open personal bank accounts in Singapore?

I would like to open one there + debit card. 50k USD initial deposit. Clean money, no crap going around it. Actually can show proof of funds.

Can do that without flying and without SG residency?

I currently hold citizenship and residency in a EU tax-raping country.

Moving to PH next January.

Honestly I'm open to consider other countries in Asia but not sure if it is possible to do that.

 

[Sols]

I don't think 50,000 USD will cut it. IIRC, UOB has the most lenient account‌ opening requirements and they want 100,000 SGD which is 75,000 USD at today's rate.

If you can stretch the deposit a bit further, reach out to UOB.

OCBC and DBS‍ are also options, but they have higher minimums.

 

[bibing]

Those are all "Premier" accounts though, right? I was looking for a "normal" account.

By the way, do they open those Premier accounts without the need to visit?

 

[Sols]

Not going to happen in Singapore as a non-resident foreigner. Those‍ days are gone. You can try but your chances of success are very, very low.⁠

Yes. A visit can help, but is not required.

 

[Clank]

Try downloading HSBC Singapore bank and open an account through the app. In my case‌ I was able to get the account instantly as a non-resident.

 

[JohnLocke]

You must have been very lucky then, because when I try it, there are⁠ quite a few complications with just getting through the questions they have and the information⁤ they require for not being from Singapore.

 

[BeyondBorders]

Esp. banks in Singapore do not require any Intro, but 250-500k SGD deposit and a‌ personal visit of their branch - either in singapore or their overseas branch. Send them‍ an Email, be low risk to them aka explain your SOW.

 

[jkl197]

tried to contact them a couple of times few months ago (UOB and OCBC), either‌ they did not reply or they said that the personal visit is necessary even for‍ Premier account or higher level.
That is why I was thinking an Introducer could help.⁠ For some people it is easier to travel for others it is preferable to pay⁤ an introducer rather than plane and hotel

 

[backpacker]

For the amount in question, it doesn't make sense to bother with Singapore. You⁢ will be very well served in the Philippines, where your $50,000 will make you a︀ Premier customer instantly. Look for "Unibanks" (universal banks).

 

[bibing]

What is a Unibank?

Do you mean UnionBank?

 

[jkl197]

surely a bank in Philippines could be an interesting option for many readers.
Yet, going‌ back to the title of this discussion: if anybody knows a reliable introducer for a‍ personal bank account at UOB/OCBC/DBS singapore that would be great!
As discussed previously in other⁠ similar threads, it could be easier with Citi, Hsbc, Standard Chartered, but everybody has different⁤ specific circumstances, needs and preferences.

 

[Clank]

You don't need to get⁣ a specific introducer just fill up the form on the website and they will contact⁢ you.

 

[Wellington]

What's the purpose of the account.

Reason i ask, you can simply take payment in‌ XSGD and then convert to USDC and withdraw to any account via a OTC, or‍ even convert XSGD into other currencies and send to other accounts world wide.

It gives⁠ you exposure to SGD but with faster financial movements and strong liquidity, without the need⁤ to go through the hassle of a SGD account.

https://www.straitsx.com/
Even during a bear market⁣ the secondary market liquidity lows are on avg 1m per day (it's a regulated entity)⁢ so funds are SAFU.
https://coinmarketcap.com/currencies/xsgd/#Markets

 

[jkl197]

Dear Jbb1, thanks for‍ quick reply, but as I wrote yesterday:
tried to contact them a couple of times⁠ few months ago (UOB and OCBC), either they did not reply or they said that⁤ the personal visit is necessary even for Premier account or higher level.
That is why⁣ I was thinking an Introducer could help. For some people it is easier to travel⁢ for others it is preferable to pay an introducer rather than plane and hotel

 

[Clank]

An introducer won't help, they need to⁢ verify your documents in person, if you don't have a branch in your country of︀ residence then you will need to travel.

 

[jkl197]

Dear Wellington, thanks for the︀ valuable and interesting suggestion.
For my case it is not applicable though, no need to︁ move money around and nothing to do with digital/crypto world, simply the old dear diversification︂ of banking risk, dont keep all eggs in one basket.

 

[jkl197]

That is what they say and it is understandable given how⁠ strict became all banks in the world.
What I cannot reconcile is that I keep⁤ reading even on this forum about people who were able to open an account at⁣ OCBC remotely even for a company. In theory a personal account should be much easier⁢ to process and yet...

I will keep trying once in a while, perhaps some day︀ a more flexible agent will pick up my request. Or I will keep searching for︁ an introducer until maybe one day I will be able to travel there in person.︂

 

[bibing]

@jkl197 somebody mentioned HSBC Singapore will probably do that.

Not sure if they need you‌ to fly in but if you have an HSBC in your country I think HSBC‍ Singapore will ask you to go there to verify your documents.

Try to install the⁠ app and see if it suits your needs.

I have been a customer of HSBC⁤ in another jurisdiction but I prefer to not bank with them this time, so this⁣ is not an option for me.

 

[backpacker]

"Universal bank‌ " (i.e. UniBank) is a regulatory term.
The Philippines has several different bank types, of‍ which the largest ones are universal banks. A universal bank offers all the usual banking⁠ products, incl. investment products + is able to process your SWIFT in house.
Other categories⁤ are, e.g.: cooperative bank (popular term 'rural bank'), savings bank, commercial bank (universal bank), thrift⁣ bank.

The specific bank you mentioned is considered to be a universal bank.

 

[Wellington]

Hi, well that’s what it would be XSGD are digitalised⁤ SGD

1-1 backing

Difference is you have the safety of SGD but the liquidity outside⁣ of Singapore itself