Major Banks in Singapore and Their Services
Global Payment
As one of the global financial hubs, Singapore boasts a diverse banking system that caters to a wide range of financial needs. Whether you're an individual, a multinational company, or an international investor, the banks in Singapore offer comprehensive services. In this article, we will explore the major banks in Singapore and the services they provide, helping you better understand the financial landscape of this thriving financial center.
Major Banks in Singapore
Singapore's banking system includes both local and international banks, offering a variety of services ranging from personal banking to corporate financial solutions. Here are some of the most important banks in Singapore:
1. OCBC Bank
OCBC Bank, or Oversea-Chinese Banking Corporation, is one of Singapore’s largest local banks, founded in 1932. OCBC offers a wide range of services including savings accounts, credit cards, loans, investment products, insurance, and wealth management. The bank has a strong presence across Southeast Asia and China, making it a key player in the regional financial market.
2. UOB Bank
UOB Bank, or United Overseas Bank, is another major local bank in Singapore, established in 1935. UOB operates multiple branches globally and provides comprehensive banking services such as personal banking, corporate banking, and investment banking. The bank excels in offering loans, cross-border payments, and cash management solutions to help businesses optimize their financial operations.
3. DBS Bank
DBS Bank, or Development Bank of Singapore, was founded in 1968 and is Singapore's national bank. DBS is one of the leading banks in Asia and offers a full spectrum of banking services, including personal banking, corporate banking, investment banking, and wealth management. DBS is known for its leadership in digital banking, leveraging technology to enhance customer service and win multiple global financial awards.
4. Standard Chartered Bank
Standard Chartered Bank is a foreign bank based in the UK, established in 1859. In Singapore, Standard Chartered offers services including personal banking, corporate banking, and private banking. As an international bank, it plays a significant role in offering cross-border financial services for businesses and individuals alike.
5. HSBC
HSBC is a well-known global bank founded in 1865 and headquartered in the UK. HSBC has a strong presence in Singapore, offering a range of banking services including personal banking, corporate banking, and investment banking. Known for its expertise in cross-border financial services, HSBC helps individuals and companies manage global payments, trade financing, and foreign exchange.
6. Citi Bank
Citi Bank is a global bank headquartered in the United States. Citi has a significant presence in Singapore, providing services such as personal banking, wealth management, loans, credit cards, corporate banking, and investment banking. Citi excels in offering efficient global payment systems and cross-border banking services, making it an ideal choice for multinational companies.
Key Banking Services in Singapore
Banks in Singapore offer a wide range of services to meet the diverse needs of their customers:
1. Personal Banking Services
Singapore’s banks provide comprehensive personal banking services, including savings accounts, credit cards, loans, investments, insurance, and wealth management. Whether you are looking for short-term savings options or long-term financial planning, Singaporean banks can offer tailored solutions to meet your financial goals.
2. Corporate Banking Services
Banks in Singapore also provide robust services for businesses, including business loans, payment processing, cash management, and foreign exchange solutions. Whether a small startup or a large multinational corporation, businesses can rely on Singapore’s banks to access financing, optimize cash flow, and manage cross-border payments.
3. Digital Banking Services
With the advancement of technology, many Singapore banks have embraced digital banking to provide customers with a more convenient way to manage their finances. Through mobile apps and online platforms, customers can perform banking transactions, make payments, invest, and even apply for loans—all from their smartphones or computers.
Financial Regulation in Singapore
Singapore’s banks are regulated by the Monetary Authority of Singapore (MAS), which sets the guidelines and oversees the operations of all financial institutions in the country. As a global financial center, Singapore is known for its transparent and fair regulatory environment, which makes it an attractive destination for international investors and financial institutions.
Innovative Digital Financial Infrastructure：PhotonPay
Founded in 2015, PhotonPay is a digital financial infrastructure provider offering global payment solutions to businesses.Our innovative core products include Global Accounts, Card Issuing, Online Payments, Payouts, FX Management and Embedded Finance. PhotonPay has become a Mastercard issuer in Hong Kong and the fintech card issuer in the Greater China region of Discover® Global Network.
With a strong compliance culture and technological innovation capabilities, PhotonPay is building a digital payment network to take the friction out of global payments and enhance operational efficiency for businesses operating on a global scale.
Headquarters in Hong Kong and providing localized services through nine international offices, PhotonPay partners with a network of top-tier banks and global financial institutions and serves more than 200,000 enterprises globally.
Latest Announcements
Back to the blog homepage
What is Fintech?
Uncover the essentials of Fintech. Learn what it is, its impact on finance, and how innovative technologies are reshaping the way we manage money.
PhotonPay
2025-03-14 08:33:03 ·
4minute(s)
How to promote your website?
Unlock the secrets to successful website promotion. Explore proven techniques to boost your online presence and attract more visitors to your site.
PhotonPay
2025-03-13 10:20:40 ·
4minute(s)
Exploring the Best Mass Payout Solutions
This article will delve into what mass payout solutions are and provide an in-depth look at PhotonPay Payouts—a leading product designed to revolutionize your business payment system.
PhotonPay
2025-03-13 10:09:48 ·
4minute(s)
