As a major centre of commerce and the financial hub of Southeast Asia, Singapore has a vast array of banking options available. Furthermore, the banking industry is very safe, efficient, and secure and boasts a reputation as being one of the most modern, developed systems internationally.
Convenience services including Internet banking and automated machine services are common to nearly all retail banks, and service is generally very good. Typical banking hours are Monday to Friday from 9:30 am- 4:30 pm, and Saturdays from 9:30 am – 1 pm. Some outlets are open later, and some offer limited Sunday hours as well.
To make the best use of banking facilities and automated machine services that offer cash and cheque deposits, it is best to use one of the Singapore-owned international banks that has a larger local base and more outlets. DBS/POSB has the largest percentage of the domestic banking market, and as a result, its machines and branches are the most numerous and easily found on the island. They are followed by United Overseas Bank (UOB) and OCBC.
- DBS Bank / POSB – DBS Bank Ltd: Retail and commercial high street bank, also offers mortgage finance, home loans and other financing for property. 6 Shenton Way, DBS Building Tower One, Singapore 068809, Tel: 6878 8888 or 1 800 111-1111.
- United Overseas Bank (UOB) – Retail and commercial high street bank also offers mortgage financing and home loan facilities for Singapore property. 100 Jalan Sultan, #01-29 Sultan Plaza, Singapore 199001, Tel: 1800 222 2121 / 6296 8640. Use their bank locator to find your nearest branch.
- Oversea China Banking Corporation (OCBC) – Offers a range of financial solutions in consumer banking and business banking, including mortgages with variable mortgage rates, home loans and other financing packages. 65 Chulia St, OCBC Centre, Singapore 049513, Tel: 6438 3333 Fax: 6532 2179. Branch locations can be found using their search tool.
A number of major foreign retail banks also provide current and savings accounts, credit and debit cards, and mortgages, and also have ATMs posted around the island, though less so than the Singapore banks. HSBC, Maybank, ABN AMRO, Citibank, and Standard Chartered operate a shared ATM system covering many locations and clients of one bank may use an ATM belonging to any of the other participants without paying transaction fees. Although several of these banks offer debit cards, only Standard Chartered is a member of Singapore’s handy Network for Electronic Transfers (NETS).
- BNP Paribas: French fully licensed in Singapore bank. 20 Collyer Quay #01-01, Tung Centre, Singapore 049319, Tel: 6210 1288 Fax: 6224 3459.
- Citibank: Retail, mortgages, expatriate mortgages and commercial banking. Flexible mortage rates available. 3 Temasek Avenue, #12-00 Centennial Tower, Singapore 039190, Tel: 6225 5221 Fax: 6328 5880.
- Hongkong And Shanghai Banking Corporation (HSBC): International high street bank covering all services. 21 Collyer Quay, HSBC Buillding, Singapore 049320,Tel: 6216 9082 or 1 800 4722 669 Fax: 6737 9515. For a list of outlets, visit their branch location site.
- Malayan Banking BHD (Maybank): Malaysian retail and commercial bank. 2 Battery Road, Maybank Tower, Singapore 049907, Tel: 6535 2266 Fax: 6532 7909.
- Standard Chartered:Retail and commercial bank offering expatriate services. 6 Battery Road, #05-00, Singapore 049909, Tel: 1800 747 7000 / 6225 8888.
Additionally, a number of foreign restricted banks are present, though there are restrictions on the services they can offer, and they do not offer full consumer banking services. Thus, these aren’t good options for everyday Singapore banking, unless you are in some kind of special situation that requires their use.
