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About Singapore
- Financial & Banking
- Transportation
- Postal / Telecommunication
- Useful Links
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Banking Information in Singapore
Banking Facilities
Many international banks in Singapore offer a wide range of
services which may include savings and current accounts, ATMs
(Automated Teller Machines), fixed deposits, safe deposit boxes,
loans, overdraft and transfers, travellers cheques and changing of
foreign currencies. The three major local banks in Singapore are the
Development Bank of Singapore (DBS),
Post Office Savings Bank (POSB),
United Overseas Bank Ltd (UOB),
Oversea-Chinese Banking Corporation Limited (OCBC
Bank)
Opening a Bank Account
Different banks have different requirements as well as different types of savings and checking accounts. You may wish to bring enough cash or traveller's cheques to cover your expenses while deciding on the bank you wish to open an account with.
Documents required to open an account:
• Passport (original and photocopy)
• Student's Pass or Letter of Acceptance from NUS
• Student Card (if available)
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All three local banks have Automated
Teller Machines (ATMs) on campus, so it is quite convenient to
withdraw money and conduct various transactions such as topping
up your cashcard, transfer funds, etc. ATMs are fully automated and
are available 24-hours.
On-Campus ATMS:
DBS / POSB
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- DBS Auto Lobby (Yusof Ishak House, Level 2)
- Outside LT27, Science Faculty
- NUS Co-op at Bukit Timah Campus
OCBC - Outside Arts Canteen
UOB - Beside the Forum & Beside Science Canteen
Networks for Electronic Transfer Pte Ltd (NETS)
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This is a cashless method of payment. Payment can be made with your ATM card at all participating vendors advertising the NETS sign. |
CashCard
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This is a stored value card, allowing cashless payment. Participating vendors will have CASHCARD signs on display.
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Transfer of Funds
• Students may receive additional funds using bank drafts made out in Singapore dollars and drawn from a Singapore bank. These can be credited to your accounts and drawn in
one to two days. Cheques drawn on banks with no branches in Singapore may take
three to eight weeks to clear.
• Telegraphic transfers may also be made indirectly through another bank to your POSB account.
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