Which DBS bank account for foreigner?

[bixpii]

Hello,
I need open DBS/POSB account to receive salary purpose. Which account for foreigner? Thanks

 

[revhappy]

DBS multiplier is given by default to foreigners, assuming you are EP holder.

Sent from Xiaomi REDMI NOTE 4 using GAGT

 

[BBCWatcher]

DBS multiplier is given by default to foreigners, assuming you are EP holder.

But that doesn’t mean you have to take it.

Apply for your DBS or POSB account online! If it’s your first DBS or POSB account, then the minimum balance requirement will be zero. Then you can pick whichever account you think will be the best for you. DBS Multiplier is a reasonable choice.

Here’s the online account opening link for DBS accounts (e.g. DBS Multiplier): link
Here’s the online account opening link for POSB (e.g. POSB Everyday Savings Account): link

If you must open a DBS or POSB account in a branch, then the POSB Everyday Savings Account has the lowest monthly minimum balance requirement ($500) to avoid a fall below fee. That might matter.

 

[BBCWatcher]

I need open DBS/POSB account to receive salary purpose.

By the way, is this actually true? A lot of employers say, “Open a DBS or POSB account” for salary crediting, but what they really mean is “open a local bank account for salary crediting.” However, if (and only if) you open a DBS or POSB account online, the monthly minimum balance requirement is waived, so I suppose there’s no harm in opening an account there.

DBS and POSB are the same bank, but (for historical reasons, when they were separate banks), there is a slight difference in marketing channels. However, most services are available uniformly. For example, if you need to visit a branch after account opening for some reason, you can go to either a DBS or POSB logoed branch.