Step-by-Step: Bank Account for EP, S Pass, and WP Holders

Step-by-Step: Bank Account for EP, S Pass, and WP Holders

This guide walks you through opening a personal bank account in Singapore as an Employment Pass (EP), S Pass, or Work Permit (WP) holder. It focuses on practical steps, the documents you’ll need, and where to start with major banks.

At a glance

• EP & S Pass: Most banks allow account opening digitally with Singpass or at a branch.
• WP: Many employers set up a POSB Payroll Account via MOM’s WP Online. Workers can also approach other banks directly to open an account.
• Plan ahead: Prepare your passport, valid pass (or in-principle approval), local address, and Singapore mobile number.

What you need before you apply

• Singpass (recommended): Foreign passholders (including EP, S Pass and WP) can register for Singpass and have a MyInfo profile, which speeds up bank applications. Eligibility.
• Identification: Passport bio page. Some apps can read e-passports for remote onboarding (e.g., OCBC Digital). Learn more.
• Valid pass or IPA: Employment Pass, S Pass, Student Pass, or an in-principle approval (IPA) from MOM/ICA are commonly accepted during onboarding. DBS example.
• Local address: Tenancy agreement, recent bill, or bank/telecom letter if the app doesn’t pull your address from MyInfo. Details.
• Singapore mobile number: Needed for digital banking setup and 2-factor authentication. DBS checklist.

Step-by-step: opening your account

Step 1 — Set up Singpass (fastest route)

Register for Singpass as a FIN holder, then complete your profile (MyInfo). Many banks use MyInfo to pre-fill forms and provide near-instant approvals for eligible applicants. Who can get Singpass.

Step 2 — Choose your bank and account type

• DBS/POSB: Digital onboarding via the DBS digibank app with Singpass (instant in many cases). Without Singpass, you can upload documents; typical approval is a few working days. How it works.
• OCBC: OCBC Digital supports remote sign-ups for selected e-passport holders; otherwise, apply with Singpass or at a branch. Remote onboarding  |  Foreigner guide.
• UOB: Foreigners typically need to be physically present to open an account; UOB lists the documents (ID, proof of address, and in some cases a bank reference/introducer). UOB FAQ.
• Standard Chartered: Apply online; ensure you have the right documents based on your status (Singaporean/PR/Foreigner). Documents & apply.
• HSBC: International banking options allow some applicants to start from overseas. Open internationally.

Step 3 — Submit your application

1. With Singpass: Use the bank’s app to pre-fill details from MyInfo. For DBS, many eligible applicants receive instant approval. DBS flow.
2. Without Singpass: Upload passport and pass/IPA, provide your local address and mobile number. DBS notes approvals in ~3–5 working days. Timeline.
3. In-branch (e.g., UOB): Bring your original documents. UOB’s FAQ outlines additional cases like a reference letter/introducer for certain non-resident scenarios. Requirements.

Step 4 — Activate digital banking and your card

Once approved, set up the bank’s mobile app for transfers and salary crediting. Physical debit cards are usually mailed shortly after approval (for DBS, typically within 3–5 business days). DBS delivery note.

Step 5 — Salary crediting

• WP holders: Employers can open a POSB Payroll Account via MOM’s WP Online; card and PIN are posted to the employer address on approval. Workers may also approach other banks to open an account directly. MOM steps.
• Payment rules: Employers must pay salaries at least monthly and generally within seven days of the end of the salary period, with certain sector-specific rules (e.g., dormitory-staying workers must be paid by bank crediting). MOM salary guide  |  WP salary crediting.

Quick comparison (major banks)

Notes: Exact eligibility, minimum balances, and fees differ by account. Always confirm on the bank’s official page before applying.

Tips to avoid delays

• Match your documents: Ensure your name and address match across passport, pass/IPA, and proof of address.
• Bring originals for branch visits: UOB, for example, requires sighting of originals and may ask for a bank reference/introducer in some scenarios. See UOB FAQ.
• Watch “fall-below” rules: Banks may charge a fee if your average balance drops below the account’s threshold—check the fee schedule on the bank’s site.
• Salary crediting: Share your new account details with HR promptly; some employers run fixed payroll cycles.

Frequently asked

Can I open an account before I arrive? In selected cases, yes. OCBC supports remote onboarding for eligible e-passport holders; HSBC offers international account opening options for some customers. OCBC  |  HSBC.

Is Singpass mandatory? No, but it makes digital applications much faster and reduces paperwork. Without Singpass, banks usually accept manual uploads and may take a few working days to process. Example.

Do WP holders need a bank account? Employers must pay salaries at least monthly, and specific rules apply to how WP salaries are paid (e.g., bank crediting for certain accommodations). Many employers set up a POSB Payroll Account for WP holders. MOM guidance  |  POSB Payroll flow.

Final checklist

• Passport and valid pass/IPA ready
• Local address and mobile number confirmed
• Singpass set up (if eligible)
• Chosen bank’s app installed (DBS digibank, OCBC Digital, UOB TMRW, SC Mobile, etc.)
• Salary crediting details shared with employer

References

• DBS — Online account opening for foreigners & documents
• OCBC — Remote onboarding (OCBC Digital) and Foreigner account guide
• UOB — General help & foreigner account FAQs
• Standard Chartered — Compare & open an account online
• HSBC — International account opening
• Singpass — Who is eligible
• MOM — Open a POSB account for WP workers and Paying salary (general rules)  /  WP salary crediting

Reminder: For any decision that affects your immigration status, salary payment method, fees, or eligibility, please verify the latest requirements on official government and bank websites listed above.