Global Banking Account in Singapore




Choosing a Global Banking Account in Singapore
         provided by Citibank Singapore

As a frequent traveler or expatriate working in another country, you may have experienced the hassle of setting up and closing bank accounts whenever you relocate, performing audits on your numerous bank accounts, or, trying to obtain the lowest fees on global funds transfers. These tasks may not faze you, but given the many other preparations that will require your attention for your relocation, would it not be better to find a more efficient way to manage your finances? Citibank IPB Singapore helps you by providing a convenient platform that allows you to choose how and where you would like to bank.
Let us show you how.

You can move, will your bank be there with you?

Instead of going through the trouble of setting up a new bank account and closing it whenever you move to somewhere new, why not open an account that accompanies you wherever you go? There are many banks that offer flexible banking services that cater to international travelers such as you.

Citibank offers flexible banking services that cater to international travelers such as you. Its global franchise allows you to access your funds at over 1.4 million ATMs in over 160 countries in the world, while its 24-hour Citiphone service allows you to execute instructions at anytime no matter where you are.

What is a global banking account?

A global banking account, commonly referred to as an offshore bank account, is simply an account provided by a bank located outside the country of the depositor. The services available with the account are similar to those of a domestic bank account (offered by your local bank), but it usually comes with a wider range of currencies and a larger variety of investment products.

Banks that offer global banking accounts usually have sophisticated internet banking platforms to allow customers to access their accounts and conduct various transactions easily without the need for them to visit branches. Citibank’s inAccount platform allows you to conduct most of your banking needs without the hassle of visiting a branch. You will also be able to utilize the Citibank Global Transfer (CGT), the fastest, most cost-effective and easiest way to transfer funds to any Citibank account around the world.

Is a global banking account for me?

Global banking accounts provide a wide variety of products and services that cater to the needs of different individuals. If you are an expatriate working in a foreign country, you may enjoy the convenience and savings that a multi-currency account offers. A student studying overseas may also benefit from the cost-efficient international funds transfer channels that most global banking accounts provide. 

A global banking account is also suitable for those who wish to park part of their wealth in regions that in their view, have potential for growth and which possess factors that are conducive for wealth preservation and management, such as political stability. In addition, as global banking accounts can usually be accessed via online banking platforms, you can continue to enjoy the benefits offered by the account when you relocate, allowing you to seamlessly and effortlessly manage your finances.

What are the factors to consider when opening a global banking account?


Without the limits of national borders, there are many factors you should consider when opening a global banking account. We have highlighted what we think are the 5 most important factors.

1. Economic & Political Stability

Keeping your wealth in regions of strong growth and political stability may lead to greater investment and business opportunities. Singapore is located at the heart of the fast growing Asian economy. As a well-known financial hub, Singapore has bagged numerous awards such as “World’s Easiest Place To Do Business (World Bank 2009/2010) and “World Leader in Foreign Trade & Investment” (The Globalisation Index 2009).

2. Reputation Of Bank

There are many financial institutions that provide similar wealth management services in the market. It is important that you identify a reliable and reputable bank before you establish an account. Citibank has had almost 200 years of history and is focused on client service excellence and its core banking business. Known as a leading innovator in the financial services industry, you will have access to state-of-the-art technology and client-excellence focused services

3. Ease Of Account Opening and Management

While face-to-face account opening can be done, most banks are able to open your account remotely, without you having to personally visit the bank or be in the country. The easiest and most common way to do so is via the Internet.  It is also important to find a bank that has a world-class and highly secure online banking system that enables you to access and manage your account instantly, anywhere in the world.

4. Support

Having a dedicated customer service channel that you can turn to whenever you have banking enquires or require any assistance is important as well. This can come in the form of a customer service hotline, relationship manager or a branch (affiliates).

5. Minimum Deposit Requirement

Most banks impose a minimum deposit requirement and charge a fee for the maintenance of account that falls below this. It is thus important to check if the bank that you intend to open an account with has a minimum deposit requirement. Citibank IPB understands your need for flexibility and helps you maintain your flexibility by having a minimum account balance of just US$ 5,000.

Interested in opening a global banking account in Singapore? Click here.

How do I open a global banking account in Singapore?

There are 2 ways to open a global banking account in Singapore - Visit the branch personally when you have arrived in Singapore or - Set up the account remotely in your home country before you arrive.
The second option is usually recommended as it is more convenient and also allows you to transfer funds from your home country even before your arrival.
Citibank International Personal Bank Singapore offers a versatile online savings and trading account called inAccount which caters to most of your international banking needs.

To begin the process of opening an account, you will need:

  1. Valid email address
  2. A valid contact number

Once you have submitted your information, you will receive an acknowledgement email and our representatives will contact you within the next 3 business days.

Click here to begin your journey to a truly international lifestyle!


Content provided by Citibank Singapore

Global Banking Singapore | How to open a Singapore bank account | Singapore Foreign Full Banks |Singapore Offshore Banks| Banking and Taxation |Financial Services Singapore| Singapore Credit Cards | Merchant Banks Singapore| Writing a cheque in Singapore | Singapore Remittance Centers | Western Union Singapore | Citibank Singapore | Bank Jargon Singapore |Wholesale Banks Singapore| Income Tax Singapore | Central Provident Fund Singapore| Investor's Guide to Singapore| Singapore |