INFORMATION AND COMMUNITY FOR EXPATS IN INDONESIA
Sending money to Indonesia
- Thread starter Dallol14
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Helpful Herbert
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Well how did I open one then?
In Singapore they have Citibank IPB (International Personal Bank) for people who are not resident in Singapore. It is like an offshore bank account.
https://www.ipb.citibank.com.sg
Exactly. That's not Citi SG is it then
That's the offshore version. For expats.
Like Lloyds TSB offshore in Isle of Man. Jersey. Guernsey.
These are offshore branches / versions.
That is not Citibank Singapore where you have to be SG resident.
I cannot open with Lloyds UK. Because I'm not UK resident
But I can open with Lloyds offshore. Which still uses a swift LOYDGB2L and even a sort code 301641
Helpful Herbert
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Well it's Citibank and it is located in Singapore. It has completely Singaporean staff and is physically located in Asia Square Tower in the middle of Singapore. Whether or not you call a Citibank office that's located in Singapore "Citibank Singapore" or not, is not really important. Yes, it's the version for expats, which presumably is what people on this forum ("expat"indo) are looking for. The whole of Singapore is an offshore banking centre, same like Jersey or Isle of Man.
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If this bickering continues AT ALL I'll be asking my fellow mods to sanction both of you.
Moderation note:
We have removed several posts that are merely bickering and of no value to the original question. If you must have an online pissing match, please use the Cage, since you both are members. Further posts of this nature on the rest of this forum will result in the suspension of your posting privileges.
We have removed several posts that are merely bickering and of no value to the original question. If you must have an online pissing match, please use the Cage, since you both are members. Further posts of this nature on the rest of this forum will result in the suspension of your posting privileges.
Hahaha..... But I like reading Snpark posting, very much information that I really appreciate. Can't help not to write this, LOL
Snpark is correct non Singaporean resident is unable to open account in SG. If we open any SG bank online, looks ok but when going to document requirement, it has to be either citizen, resident with employment/student/long term pass.
The Citibank offshore account have to deposit initial USD 200,000.
Saying you can't open an account in Singapore or with Citibank in Singapore unless you're a resident is one thing entirely. Herbert contends that non-residents can indeed open accounts in Singaporean banks. Whether it's a different type of account or not is another issue. The practice is familiar to those many banks in developed nations: non-residents can open accounts, albeit likely with different terms, such as premium fees or higher minimum deposits.
This fact is also acknowledged here
And here
International Personal Bank (IPB)
Citibank IPB offers tailored international banking & wealth management services for expats & offshore banking. Open an international bank account now!
www.ipb.citibank.com.sg
Can a Foreigner Open a Bank Account in Singapore? 2025 Guide
Foreigners can open a bank account in Singapore if they are at least 18 years old, hold a valid passport and possess a valid pass such as an employment pass.
osome.com
And this is from Global Banks:
Can You Open A Bank Account in Singapore as a Non-Resident?
And not to mention there are many Indonesians Tycoons have Bank accounts in Singapore yet not the Singaporean residents. Not the same accounts, TCs offered to local Singaporean resident but if you are Indonesian Tycoons that fees and minimum deposit are peanuts.
I personally know a few Indonesian people have Banks accounts in Singapore yet they are not the Singaporean residents.
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Helpful Herbert
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Yes, it's a Singapore account specifically designed for foreigners. It has a physical office, ATM access and fees are very low (of course you need $200k to start with, so I guess they make their money from that).
And I like the idea of being described as a tycoon
And I like the idea of being described as a tycoon
