Opening an Online Bank Account in Singapore: A Step-By-Step Guide

Looking to open a bank account in Singapore without having to visit the bank in-person? With just a few taps on your phone or clicks on your laptop, you can set up a fully functioning account in minutes.

From high-interest savings options to digital-first banking, this guide walks you through everything you need to know to get started.

Before you dive into the application process, it’s important to choose the right bank account that suits your needs — whether you're saving for the future, managing everyday expenses, or setting up your finances as an expat in Singapore.

Consider the type of account

Checking/current accounts

These are your go-to accounts for everyday banking — perfect for salary crediting, bill payments, cash withdrawals, and general spending. In Singapore, some of the most popular current accounts include the UOB One Account, DBS Multiplier, and OCBC 360 Account. While they differ slightly in structure, most come with a linked debit card, mobile banking access, and the ability to earn modest interest or cashback if you meet specific transaction criteria. They’re designed for convenience and flexibility, making them ideal if you're looking for an all-in-one account to manage daily finances.

Savings accounts

If you’re looking to grow your money while keeping it accessible, savings accounts are a solid choice. Many Singapore banks now offer high-interest savings accounts that reward you for banking activity — the more you transact, credit your salary, or spend on a linked credit card, the more interest you earn. The OCBC 360 and DBS Multiplier accounts are standout examples, offering interest rates that can go well above the base rate when you meet certain conditions. These accounts are great if you're planning to set aside money for short- to mid-term goals.

» In-depth: What is a savings account and how do they work?

Specialised accounts

Beyond standard checking and savings options, many banks offer specialised accounts tailored for unique needs. For instance, children’s accounts help parents teach their kids good money habits from a young age, while youth accounts often come with perks like no minimum balance requirements or lower fees. Expat-friendly accounts are also available and typically feature simplified documentation, multi-currency support, and easy international fund transfers — ideal for foreigners working or relocating to Singapore.

» Need more details? The differences between bank account types you need to know 

Confirm deposit protection under MAS

When choosing a bank, always check that your deposits are protected under Singapore’s Deposit Insurance Scheme. This scheme, administered by the Monetary Authority of Singapore (MAS), protects your savings up to S$75,000 per depositor per scheme member, in the unlikely event a bank fails.

» READ MORE: Singapore deposit insurance corporation (SDIC) explainer: How it safeguards our hard-earned savings

Once you’ve picked an account, gather the documents you’ll need to complete the application online.

For Singapore Citizens and PRs, you’ll need:

• Your NRIC

• Proof of address, such as a utility bill or bank statement

• Proof of income, if required (e.g., for accounts offering higher interest or bundled services)

For foreigners, banks will usually ask for:

• A valid passport

• Your work visa, such as an Employment Pass or S Pass

• A local address in Singapore (proof of residence may be requested)

• In some cases, a letter from your employer or other supporting documents

Each bank may have slightly different requirements, so it’s a good idea to check the specific bank’s online checklist before starting. And if you are Singaporean, you may be able to use Myinfo to enter your information automatically.

» Need more details? We have a more in-depth guide to the different bank accounts here

You’re ready to apply — and the good news is, most major banks in Singapore let you do it all online.

Start your application online

Banks like DBS, OCBC, and UOB, as well as digital players like Revolut and Digibank, allow you to open an account through their mobile apps or websites. During the process, you’ll need to enter your personal information (such as NRIC or passport number), choose the type of account you want, and select any additional services like a debit card or cheque book.

Understand the requirements for foreigners

If you’re a foreigner, be prepared to upload additional documents, especially when opening a non-resident account or expat-focused account. Some banks may require a copy of your employment pass or a formal letter from your employer confirming your position and salary.

» READ MORE: Can a foreigner open a bank account in Singapore? 

Verify your identity

Verification is a critical step. Most banks will ask you to upload documents directly through the platform. Some also offer video call verification, where a bank officer confirms your identity via a scheduled online call — no branch visit needed.

Once your account is approved, you’ll need to fund it. Most banks provide several ways to do this, including FAST transfers from another local account, PayNow, or overseas remittances for expats. Some accounts require a minimum deposit (e.g., S$1,000), while others — especially digital accounts — may let you start with any amount.

Make sure to activate any debit cards or online banking credentials you receive as soon as possible, as most of them are time-sensitive and will expire.

» Banking mostly on your phone? See which digibank app offers the best experience

Ready to learn more? Check out our related guides to help you make the most of your banking journey in Singapore:

• How to pick a savings account

• Best alternatives to savings accounts 

• 9 types of fixed deposits, which should you choose?

• Best savings accounts & child development accounts (CDA) for kids in Singapore 2025