OCBC Bank
traditional bank
OCBC Bank (Oversea-Chinese Banking Corporation) is Singapore's second-largest bank by assets and one of the highest-rated banks in Asia, holding an Aa1 rating from Moody's. Founded in 1932, it operates across 19 countries and territories with particular strength in Greater China, Malaysia, and Indonesia through its Wing Hang Bank and Bank of Singapore subsidiaries. Standard retail accounts (360 Account, Frank Account) are available to Singapore residents holding a valid work or residency pass; non-residents must visit a branch in person and typically qualify through the Premier Banking tier (SGD 200,000 minimum AUM) or Premier Private Client tier (SGD 1,000,000 minimum). Multi-currency accounts support 11 currencies including SGD, USD, EUR, GBP, AUD, CAD, NZD, JPY, CHF, HKD, and CNH. OCBC is FATCA-compliant and will accept US persons, a notable differentiator from competitor DBS. Singapore's Deposit Insurance Scheme protects balances up to SGD 75,000 per depositor. The bank's combination of exceptional credit strength, deep ASEAN connectivity, and a genuine non-resident onboarding pathway makes it one of the premier destinations for internationally mobile clients banking in Southeast Asia.
Details
- Headquarters
- Singapore
- Currencies
- 11
- Monthly Fee
- Free
- Non-Residents
- Accepted
- US Persons
- Accepted
- Debit Card
- Available
- Business Account
- Available
Opening Requirements
- •In-person visit to a Singapore branch (required for non-residents)
- •Valid passport and a secondary government-issued photo ID
- •Singapore Employment Pass, S Pass, Dependant Pass, or Long-Term Visit Pass (for residents)
- •Proof of Singapore address and home-country address
- •Source-of-funds and source-of-wealth declaration
- •Initial deposit — SGD 1,000 for 360 Account; Premier Banking entry at SGD 200,000 AUM; Premier Private Client at SGD 1,000,000 AUM
Restricted Nationalities
Not available to nationals of: north-korea, iran, cuba, syria
Nationality Acceptance Matrix
Who this provider will and will not onboard. Refusals are listed first. Sourced from the provider's own published terms and recent public onboarding reports — confirm with the provider before applying.
| Nationality | Accepted | Notes |
|---|---|---|
| russia | NO | Onboarding paused post-February 2022 due to international sanctions exposure and MAS guidance on Russia-linked clients. |
| north korea | NO | Blocked — UN/MAS/OFAC DPRK sanctions. |
| iran | NO | Blocked — UN/MAS/OFAC Iran sanctions. |
| cuba | NO | Blocked — OFAC Cuba sanctions (USD-clearing risk). |
| syria | NO | Blocked — UN/MAS/OFAC Syria sanctions. |
| singapore | YES | Full domestic service for Singapore citizens and permanent residents; digital onboarding via SingPass MyInfo available. |
| us | YES | US persons accepted with FATCA W-9 declaration; Premier Banking tier is the typical entry point for non-resident Americans. |
| uk | YES | UK nationals accepted; in-person Singapore branch visit required for non-residents; standard KYC applies. |
| eu | YES | EU nationals accepted; source-of-funds documentation required; minimum deposit or AUM threshold applies. |
| china | YES | Mainland Chinese clients welcomed with enhanced due diligence on source-of-funds and source-of-wealth; OCBC's Wing Hang Bank subsidiary provides deep Greater China connectivity. |
| malaysia | YES | Malaysian nationals accepted; OCBC Malaysia operates as a licensed local bank and is a separate account-opening process. |
| indonesia | YES | Indonesian nationals accepted subject to standard KYC; OCBC NISP operates as a separate Indonesian subsidiary. |
| myanmar | YES | Accepted with enhanced due diligence and individual sanctions screening; MAS-targeted designations screened; no blanket Myanmar nationality ban. |
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Sources & last verified
- Last verified 2026-06-15