POSB Work Permit Account

Work Permit Account

We understand your need to set-up bank accounts for your employees holding Work Permits. As your banking partner, we have put together a package exclusively for them.

Overview

Introducing POSB Work Permit Account and the new Account Services Centre (For Work Permit holders). This service is specially for DBS Corporate Current Account customers only. You and your employees will enjoy:

For you, the employers:

  • One-Stop Solution: Apply for your worker's POSB Work Permit Account, Insurance Bond and Medical Insurance all at one go!
  • Ease of mind with no initial deposit requirement when opening accounts for your employees.
  • Convenience when processing payroll, with faster crediting of salaries from your corporate account to your employees' accounts.

For your employees:

  • Secured channel for receipt of salary via a bank account with daily interest.
  • Easy access to their accounts at over 1,000 POSB/DBS ATMs islandwide and via PIN-based transactions such as NETS.

The following non-financial services will also be available at the Account Services Centre (For Work Permit holders) and will not be offered at all DBS/POSB branches.

  • Opening of account for Work Permit holders (Excluding Foreign Domestic Workers)
  • Application for foreign worker's Insurance Bond
  • Application for foreign worker's Medical Insurance
  • Application and replacement of ATM card
  • Replacement of passbook
  • Updating of personal information

Your employees could continue to visit any DBS/POSB branch for all other services.