Last week I went to Singapore to try to open a bank account there.

I am a Privilege Banking customer in UOB Bank Malaysia. Since I wanted to open a UOB bank account in Singapore, I requested for a reference letter from my UOB branch and they provided it to me, though they said that it's no guarantee that the UOB branch in Singapore will open an account for me as it's getting more strict in Singapore.

I went to the UOB branch in Orchard Road and the lady staff (for account opening) that initially attended to me asked me what is the purpose that I would like to open an account. I said that it's for investment purpose. She said that it's getting more strict in Singapore for foreigners to open a bank account. Then she said that she will refer me to another colleague who is in the investment department (at that point of time, a thought came to my mind that I shouldn't have said that the bank account is for investment purpose).

This other colleague of hers was also another lady. She tried to engage in some small talk and ask about my background. Then she tried to sell me on some kind of unit trust savings plan, that goes together with a savings account. The bad thing about this unit trust savings plan is that you have to put in a monthly sum for five years. You can only withdraw a partial sum before the end of the five years, so this means you will lose money if you withdraw before the end of the five years. And the minimum amount that the branch will apparently accept from a foreigner is S$1000 per month! Obviously I didn't agree with the unit trust savings plan and she wasted 40 minutes of my time. Before I left, I told her that I was disappointed.

Anyway, I haven't given up on opening a bank account in Singapore yet. I'll try again with two other UOB branches since I understand that not all branches are the same and some could possibly be more lenient than others.

As a note, please do not go and open an account with UOB branch in Orchard Road. Try other branches.

This post has been edited by kenviro: Oct 19 2017, 08:10 AM

Since I am going to Singapore again only some time next year, I won't be able to try two other branches until then.

I think that you should try one of the UOB branches that is outside the city, like in Toa Payoh or Ang Mo Kio. That's because most of the UOB branches in the city see numerous bank account applications by Malaysians, as least from what I understand from that lady banker in the Orchard branch. Going to a UOB branch that doesn't see that many applications by Malaysians or foreigners could help.



This post has been edited by kenviro: Oct 23 2017, 12:45 PM

The customer relationship manager of my local branch had asked me which branch in Singapore that I would like to go to, and I chose Orchard branch, for the reference letter that costs me RM26.50. I could have chosen other branches too but you can say it was random. Unless you are willing to pay another RM26.50 for each reference letter to different UOB branches in Singapore.

Since you have chosen Orchard branch too, I hope you have a better experience than me. Don't say your purpose to open a savings account is for investment. Otherwise, you will probably end up talking with that same young lady in the investment department who will try to sell you the unit trust savings plan. Her mother is a Malaysian from Penang, but don't say you read this from a forum thread.



This post has been edited by kenviro: Oct 24 2017, 04:14 PM