How to Open an Account at UOB in Singapore

In today’s world, a bank account is an essential part of life for millions of people. Banks provide people with a safe place to store their money and keep track of their records, as well as receive financial advice and other important services.

Founded in the 1930s, the UOB bank has grown to become one of the premier banks in Asia, with over 500 locations in 19 countries. From the early 2000s onward, UOB bank has consistently been awarded for excellence in finance.

How to Open an Account at UOB in Singapore

Checking accounts

UOB in Singapore offers a wide range of checking accounts with different features to suit lifestyle of every client.

  • The UOB Current Account provides all the basic features with minimal fees. Features include:
    • two free checkbooks
    • a debit card with no fee for three years
    • an access to phone & online banking
    • mobile alerts.

    A small fee is charged if the account falls below the minimum balance.

  • The i-Account, which provides additional features, including paid interest and overdraft services. It also has a small monthly fee in addition to the required min balance
  • The UOB One Account, which pays different interest rates depending on the amount of monthly transactions
  • The Global Currency Account, which allows customers to save money and earn interest in ten different currencies. UOB also offers a three-day check clearing service for Global Currency Account holders.

For clients with a higher rate of wealth and investments, UOB provides specialized checking accounts tailored to their needs.

  • The UOB Wealth Premium Account, that provides high-interest rates that increase as certain balances are met.
  • The High Yield Account, which gives even higher interest rates for the highest balance tiers, up to 20% annually. The minimum deposit is S$100,000. Both accounts come with a closing fee if they are closed within six months after they are opened.

Savings accounts

In addition, the UOB bank offers a variety of savings accounts to help clients maximize their savings.

  • The Passbook Account, which comes with all the basic features, including paid interest, mobile alerts, and monthly transfers.
  • The Uniplus Account, which provides the same features, but with the addition of monthly statements. Both accounts charge a small fee if the account falls below the min balance.
  • Eligible customers can also apply for a Global Currency Account, which allows them to save money in one of eight foreign currencies. This account has no monthly fee.
  • a Junior Savers Account, which comes with free insurance
  • a Child Development account, which is eligible for certain cash bonuses.

Business accounts

Companies are also eligible for UOB business accounts:

  • The Global Currency Account, which allows to manage transactions in different currencies
  • The SGD Account with low min. deposit & 30 free checks monthly
  • The eBusiness Account for those who prefer online banking.

How to apply

Residents of Singapore can apply for a bank account through the online form on the UOB bank’s site. If they would prefer to contact an advisor personally, they can also visit their branch, call UOB by phone, or send them a letter.

Non-residents can not open an account online. Instead, they must visit a bank branch to apply.

Finally, business owners also can not apply for a business account online. So they must visit a UOB bank’s branch or fill out the online application to request a callback.