In recent years, with the promotion of globalization, more and more high-net-worth individuals have set their eyes on overseas markets. Whether individuals or enterprises want to conduct overseas business, in addition to facing a series of issues such as local tax policies, financial environment, language and culture, they also need an overseas bank account that can be used as a “passport”.
In this issue, Go Global Gem recommends banks such as Oversea-Chinese Banking Corporation (OCBC), which was once rated as one of the 50 safest banks in the world by Global Finance magazine.
About OCBC Bank
OCBC Bank is one of the oldest home-grown banks in Singapore, established in 1932 through the merger of three major banks with Chinese capital, with the earliest founding dating back to 1912. In terms of asset size, OCBC Bank is the second-largest financial services group in Southeast Asia, with a Moody’s rating of Aa1. It has received numerous accolades, including:
- Ranked 14th in the Global Finance’s list of the World’s 50 Safest Banks in 2012.
- Ranked 427th in the 2020 Forbes list of the World’s Most Valuable Brands in January 2020.
- Ranked 58th in the 2020 Brand Finance Global 500 list of the World’s Most Valuable Banking Brands in February 2020.
- Ranked 167th in the Forbes Global 2000 list of the World’s Largest Public Companies in May 2020.
- Ranked 164th in the Forbes Global 2000 list of the World’s Largest Public Companies in May 2021.
OCBC Bank and its subsidiaries offer a comprehensive range of professional financial services to customers, including personal banking, corporate banking, investment banking, private banking, transaction banking, wealth management, insurance, asset management, and stockbroking services.
Note: The information is from the OCBC official website.
OCBC Bank personal account advantage
- Remote account opening via video witness, allowing you to apply for an account from the comfort of your home.
- Freedom of fund transfer with no foreign exchange controls, giving youflexibility in managing foreign currencies in your offshore accounts.
- Strong brand reputation with high account security.
- No account management fees, helping you save on costs.
- Relatively easy account opening process with low initial deposit requirementsfor first-time depositors.
- Option to choose between Chinese or English for your account, with a user-friendly online banking interface.
- Multi-currency account that supports major currencies such as USD, HKD, AUD, EUR, GBP, JPY, making it suitable for users with diverse currency investment needs.
- Extensive global presence with over470 branches and representative offices in 19 countries and regions, facilitating business operations in various locations.
Required personal account opening information
- Passport (valid for more than 6 months);
- Address proof: Phone bill/utility bill/credit card statement/bank statement/tax statement/annual personal insurance statement showing the client’s name and address;
Note: Paper and electronic documents are acceptable. If it is an electronic document, please provide the screenshot of the download path page.
- Proof of Assets: Bank statements of S$200,000 or its foreign equivalent (available after three months of deposit).
Personal account opening procedure
The process for opening a personal account with OCBC can be completed in four steps:
- Service confirmation:
Customers confirm the service product and submit KYC and identity documents online.
- Electronic agreement signing:
After the initial review confirms that the customer meets the account opening qualifications, an electronic cooperation agreement is signed with Global Go Gem, and the entire process is completed online within the agreed time.
- Mutual confirmation:
The bank confirms the account opening via telephone, sends out the account opening form, and the customer signs and returns it.
- Service completion
The account is opened within 4-6 weeks, and the physical bank card and password are sent out, indicating that the account opening process is complete.
To register for an OCBC personal account, you can scan the QR code below to add customer service WeChat or leave us a message. During the account opening process, Go Global Gem will provide one-on-one guidance to ensure a good service experience.
For enquires please reach out to us: