(The Development Bank of Singapore)
The bank was set up by the Government of Singapore in June 1968. Today, it is the leading bank in Asia with its headquarter in Singapore. The bank serves over four million customers through 250 branches across 17 countries. It was recognized as the 'Safest Bank in Asia' from 2009 to 2014 consecutively and 'Best Bank in Asia-Pacific' by Global Finance. DBS secures a strong market position in consumer banking, treasury and markets, asset management, securities brokerage, equity and debt fund-raising in Singapore and Hong Kong.
|Country of Registration:||Singapore|
|Year of foundation:||1968|
|Languages supported:||Chinese, English|
|Currencies supported:||Separate account for each currency: SGD, USD, EUR, AUD, GBP, JPY, CNY, NZD, HKD, SEK, THB, CAD, NOK, CHF|
|Type of account:||Commercial banking account
|Documents required for the account opening:||Commercial banking account: Original copies of corporate documents, passports, proof of residence, and detailed proof of business.
Personal account: passport
|Personal appearance of beneficiaries:||The visit of all directors/beneficiaries is required.|
|Restrictions on the account opening:||Account opening is available for Singapore, Hong Kong, and registered offshore companies.|
|Processing time of the account opening:||1-2 weeks, with all required documents provided.|
|Minimum deposit required:||SGD 50,000 or equivalent in other currencies (not frozen)|
|Minimum balance required:||SGD 50,000 otherwise monthly charge of SGD 100 applies|
|Debit / ATM cards:||Available for Singapore companies only (SGD 30 per year)|
|Credit cards:||Available when the client placed a fixed deposit|
|Personal banker:||Not provided, unless there is a deposit of SGD 5,000,000.|
|Fee charged by the Bank for account opening:||SGD 1,000|
|Maintenance fee:||SGD 50 per month|
|Charge for incoming funds:||SGD 5|
|Charge for outgoing funds:||0.25% (min 10, max 100) + SGD 20|
Terms and conditions are subject to change.