Banks generally follow conditional onboarding standards. Applicants may progress when they align with KYC/AML expectations, and bankers typically review ties, source-of-funds, and compliance notes before moving forward.
In this article, we’re exploring the top ten banks in Singapore. We’re going to share a list of the top financial firms and Singapore banks that currently operate in the country and answer three common questions we’ve received from people exploring this specific topic.
This article is part of our free series on the list of banks in Singapore. You can access this series right now by using the link above.
In addition to detailed account opening guides, this free series on Singapore banking also discusses the largest banks in Singapore, Singapore’s opening requirements, the costs of banking in Singapore, and much more. Use the link above to start exploring all of your free Singapore banking content right now.
Alternatively, use the table of contents to continue exploring more information on the top ten banks in Singapore.
Table of Contents
- What Are the Top 10 Banks in Singapore?
- Frequently Asked Singapore Banking Questions
- CTA
- Top 10 Banks in Singapore
- Development Bank of Singapore
- Hongkong and Shanghai Banking Corporation
- Overview of Banking in Singapore
- Overview of the Banking Landscape in Singapore
- Leading Banks in Singapore
What Are the Top 10 Banks in Singapore?
The top 10 banks in Singapore include local banks, foreign banks, private banks, and other financial institutions, such as DBS Bank, United Overseas Bank (UOB), and Oversea-Chinese Banking Corporation (OCBC).
Listed below, in alphabetical order are ten of the top financial institutions currently operating in Singapore.
Top Ten Singaporean Banks
- Bank of Singapore
- BNP Paribas
- Citibank Singapore
- DBS
- Deutsche Bank
- leading international banks
- JP Morgan Chase Bank
- Oversea-Chinese Banking Corporation (OCBC)
- Standard Chartered Bank
- United Overseas Bank (UOB)
Please note this list only includes ten of the 150-plus financial institutions operating in Singapore. Additionally, as mentioned above, the banks listed are presented in alphabetical order. The order does not reflect any rating or suggestion of suitability for account opening.
The number of institutions and foreign banks in Singapore that are available to you depends on your client profile, banking needs, and deposit level. There are of course other financial institutions not listed here that are more suitable for certain client types.
Want to learn more about banking in Singapore? Visit our comprehensive guide on banking in Singapore, available in the link above.
Alternatively, if you want to explore all of your offshore banking options, download our free guide and compare Singapore to some of the top banking jurisdictions available.
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Frequently Asked Singapore Banking Questions
Below are a few of the most common questions we receive from people exploring the top ten banks in Singapore. If you have further questions you would like answered, don’t hesitate to get in touch with us directly.
What Are the Top 3 Banks in Singapore?
The top 3 banks in Singapore are DBS, Overseas Chinese Banking Corporation (OCBC), and United Overseas Bank (UOB). According to the Central Bank of Singapore, the Monetary Authority of Singapore (MAS), the total assets of Singapore’s banking sector are approximately $2 trillion.
Which Bank Is Best for Foreigners in Singapore?
The bank that is the best for foreigners in Singapore depends on the person applying for the account. More specifically, their citizenship, residency, banking needs, and deposit level. International banks in Singapore are suitable for most foreign non-residents. It’s important to choose a bank that accepts similar client types, matches your banking needs, and has requirements you can meet.
What Are the Major International Banks in Singapore?
The major international banks in Singapore include Citibank, leading international banks, and Bank of America. These banks offer a wide range of banking services and products. The banks available to you depend on your citizenship, residency, banking needs, and deposit level.
Ready to Unlock the Benefits of Singapore Banking?
We offer a work toward executive service — including bank-matching, pre-qualification, direct introductions, and hands-on support throughout the process — so you pursue real, viable account-opening options aligned with your profile.
Of course, final approval remains at the sole discretion of each bank.
Top 10 Banks in Singapore
Operators evaluating top 10 banks in singapore usually treat it as a informational checkpoint before speaking with bankers. Alternatives coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
Development Bank of Singapore
Operators evaluating development bank of singapore usually treat it as a informational checkpoint before speaking with bankers. Basics/General coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
Hongkong and Shanghai Banking Corporation
Operators evaluating hongkong and shanghai banking corporation usually treat it as a informational checkpoint before speaking with bankers. Basics/General coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
Overview of Banking in Singapore
Operators evaluating overview of banking in singapore usually treat it as a informational checkpoint before speaking with bankers. Basics/General coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
Overview of the Banking Landscape in Singapore
Operators evaluating overview of the banking landscape in singapore usually treat it as a informational checkpoint before speaking with bankers. Basics/General coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
Leading Banks in Singapore
Operators evaluating leading banks in singapore usually treat it as a informational checkpoint before speaking with bankers. Basics/General coverage focuses on documenting objectives, aligning expectations with onboarding teams, and keeping regulatory language conditional rather than prescriptive. Draft your answers in plain terms, avoid marketing promises, and map the outcomes back to the jurisdictions you are considering.
