POSB Payroll Account

Payroll 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 Payroll Account, a specially designed account for Work Permit worker to receive salary payment.

This account is packaged with an ATM card, which can be conveniently used to:

  • Pay for purchases via NETS
  • Withdraw cash via POSB Cash-Point or ATM
  • Top-up telco prepaid cards via ATM
  • Check account balance and print the last five transactions via ATM

Applying for a POSB Payroll Account is now made easier, through collaboration with the Ministry of Manpower.

From 16 Oct 2014, when you request for issuance of a work permit for your foreign worker via the Work Permit Online portal, you could add your application for the POSB Payroll Account on your worker’s behalf.


Important notes:

POSB will only accept account applications for Work Permit holders via this enhanced process for all new work permit holders whose work permit application is made from 16 October 2014. There is no need to submit paper application or have your workers walk-in to apply for an account.