At a Glance

Introducing POSB Payroll Account, designed to meet your Migrant Worker’s (MW) needs.

You can now manage and track salary payments with ease. Your MW can also:

  • Use the POSB ATM NETS Contactless Card to:
    • Pay for purchases at supermarkets, shopping malls and all NETS-accepted stores
    • Pay for public transport
    • Top-up telco prepaid cards
    • Withdraw cash via POSB Cash-Point or ATM
  • Remit salary back home at $0 fee via DBS Remit or POSB jolly
 

Get started

  • Step 1: Apply for Account
    When requesting for work permit issuance via Work Permit Online, select the option to open a POSB account. The MW’s consent must be obtained prior to application.

    Important notes:
    POSB will only accept an account application by a Work Permit holder via this enhanced process for new work permit holders whose work permit applications are made from 16 October 2014. There is no need to submit paper application or have your worker walk-in to apply for an account
  • Step 2: Activate Card and Account at POSB Account Services Centre (For Work Permit Holders)
    On the next working day, after the MW has visited the MOM Services Centre for Work Permit registration, arrange for him/her to visit the POSB Account Services Centre (For Work Permit Holders), with his original passport and In-principal Approval Letter.

    Note: To help us serve you better, please have your MW bring along his/ her Card Registration letter i.e. Notification Letter – Issue (Reporting), to ensure his/ her FIN is correctly captured.

    If the application is successful, we will issue his/ her account number and an ATM card. Please advise your MW to think of a 6-digit PIN before his/ her visit. Your MW’s mobile number will also be recorded here so that he/she can access our suite of mobile banking services such as POSB jolly and POSB digibank apps.

    The centre is located at:

    7 Kaki Bukit Avenue 3
    #01-08/09/10/11/12
    Kaki Bukit Recreation Centre
    Singapore 415814

    The following non-financial services are also available for your workers at the POSB Account Services Centre (For Work Permit holders) and will not be offered at other DBS/POSB branches:
    • Application and replacement of ATM card
    • Updating of personal information
  • Step 3: Download and log in1 to POSB jolly and POSB digibank apps

    POSB jolly
    Manage your POSB Payroll Account, remit money overseas and top up prepaid SIM using the POSB jolly app. Learn more here.

      

    POSB digibank Mobile
    The mobile banking app that lets your MW check his/ her account balance, make funds transfer and remit back home via DBS Remit at S$0 fee. Anytime, anywhere!

        
    • Download via App Store or Google Play Store /
    • Set up digibank profile using card number, card PIN and digital token registration code
      • Launch digibank Mobile app and choose "Get Started" at login page
      • Fill in the details on screens
      • Create user ID & digibank PIN2, complete digibank profile set-up and log out
    • Log in with newly created user ID & digibank PIN and activate digital token using registration code received in mailer

      1MW card and account needs to be activated first before MW can log in to digibank.

      2Note that digibank PIN can be set the same as bank card PIN. Subsequent change of digibank PIN will not affect bank card PIN and vice versa.

  • Step 1: Apply for account online via ‘Bank Account’ Module in Work Permit Online Portal
    Since 7 October 2019, Corporate Representatives holding on to CorpPass access can apply for a POSB Payroll Account for their existing MWs who do not currently have any bank account in Singapore, via the ‘Bank Account - Apply for a POSB Account’ module in the Ministry of Manpower’s (MOM) Work Permit Online Portal.

    The following details are required to apply for a POSB Payroll account online.
    • Work Permit Number
    • Worker’s Mobile Number
    • Worker’s Email Address
  • Step 2: Receive ATM Card and PIN Mailers at Corporate Address
    If the application is successful, 2 separate mailers containing the ATM Card and new card PIN will be sent to the Corporate Address registered with MOM, addressed to the MW, care of the Corporate Representative.

    Note: The new card PIN will be sent within 5 working days after receiving the new card.

    If the application is not successful, a letter will be sent to the company, addressed to the Corporate Representative, asking him/her to proceed to Work Permit Account Service Centre for manual account opening. The MW will have to bring the following documents to the branch:
    • Original Passport
    • Original Work Permit
    • Exception mailer received
  • Step 3: Activate Card and Account at any POSB/DBS ATM

    Activation can be done via POSB/DBS ATM, and your MW will need to provide the following details:
    • New Card PIN from mailer (6-digits)
    • Passport Number (numeric digits only)
    • Date of birth (ddmmyyyy)

    Activate via POSB/DBS ATM
    • Insert your inactive New ATM Card
    • Enter your New Card PIN received in a separate mail
    • Select More Services
    • Select Cards/PIN/iBanking/Phone Banking
    • Select Activate Card
    • Follow instructions on the ATM screen to complete activation.

    POSB/DBS ATM activation is available from 7am to 11pm (Mon-Sat) and 7am to 9.30pm (Sun and Public Holidays). Find the nearest ATM using our Locator.

    Important notes:
    Activation of account and ATM card must be done within 100 days. Any delays could result in account closure. Your MW would need to update his/ her mobile number at any POSB/DBS ATM or AXS machines to use POSB jolly and/ or POSB digibank Mobile.
  • Step 4: Update Mobile Number via any POSB/DBS ATM or AXS machines
    Update your MW’s mobile number with us so that he/she can access our suite of mobile banking services such as POSB jolly and POSB digibank apps.

    POSB/DBS ATM
    • Insert ATM card
    • Under Main Menu, select Update Mobile Number
    • Enter New Mobile Number

    AXS Machine
    • Select POSB
    • Select Services for Work Permit Account Holders
    • Select Update Mobile Number Request
    • Enter New Mobile Number
    • Confirm New Mobile Number
    • Insert ATM Card and enter PIN for verification

    Upon approval, your MW will receive a confirmation SMS that his/her mobile number has been updated.

    Find the nearest ATM using our Locator.
  • Step 5: Download and log1 in to POSB jolly / POSB digibank Mobile

    POSB jolly
    Manage your POSB Payroll Account, remit money overseas and top up prepaid SIM using the POSB jolly app. Learn more here.

      

    POSB digibank Mobile
    The mobile banking app that lets your MW check his/ her account balance, make funds transfer and remit back home via DBS Remit at S$0 fee. Anytime, anywhere!

        
    • Download via App Store or Google Play Store /
    • Set up digibank profile using card number, card PIN and digital token registration code
      • Launch digibank Mobile app and choose "Get Started" at login page
      • Fill in the details on screens
      • Create user ID & digibank PIN2, complete digibank profile set-up and log out
    • Log in with newly created user ID & digibank PIN and activate digital token using registration code received in mailer

      1MW card and account needs to be activated first before MW can log in to digibank.

      2Note that digibank PIN can be set the same as bank card PIN. Subsequent change of digibank PIN will not affect bank card PIN and vice versa.
 

Eligibility and Fees

  • A S$2 fall-below fee will apply if the average daily balance in the account is below S$500 for the month.
  • A S$2 monthly ATM withdrawal fee will apply if the customer makes more than 4 ATM cash withdrawals in the month.
  • A S$2 fee will apply for each cash withdrawal of S$2,000 or less, at any DBS/POSB branch.
  • A S$20 early account closure fee will apply if the account is closed within 6 months.

Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

 

FAQs

  1. I would like to know more about opening a POSB Payroll Account for my existing Migrant Workers
    Please click here for more information.

  1. I have changed my mobile number. How should I inform the bank to update my records?
    It is important that you update your mobile number with us immediately. You can update via digibank, AXS machines or the ATM1.

    1Updating of mobile number via ATM is only applicable using the UnionPay ATM card issued to workers upon account opening.
  2. What are the benefits of the NETS 2.0 enabled UnionPay ATM card?
    Greater convenience for NETS Payment
    • Tap and pay for local NETS transactions of up to S$100 island-wide
    • No PIN required
    • For transactions above S$100, entering of PIN is required

    NETS SimplyGo
    • NETS SimplyGo expected to commence End-2019
    • Transit on public trains and buses without need for a separate card
    • Fares deducted directly from Saving Account. No top ups required

    Overseas Usage
    • Withdraw money directly from POSB accounts at overseas ATMs
    • Pay overseas at UnionPay-accepting merchants via Card and PIN
 

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