At a Glance

The POSB Payroll Account is designed to help all Work Permit holder’s banking needs easier online.

You can now manage and track salary payments with ease.

Upon opening of Payroll Account, you will also be issued with a DBS Visa Debit Card.

  • Use the DBS Visa Debit Card to:
    • Tap for faster payment for your purchases and bus/train rides
    • Make online purchases conveniently anywhere, anytime
    • Enter PIN for your NETS purchases
    • Withdraw cash from ATMS with your card and PIN
    Transaction Limits for DBS Visa Debit Card (for Work Permit Segment)
    Type of limit Default transaction limit

    Debit spend limit

    S$200

    ATM Cash withdrawal limit

    S$1,000

    NETS Point-of-sale limit

    S$1,000

  • Send money home fast and safely at S$0* transfer fees via digibank app

Important note:

Details used for Account Opening
The POSB Payroll Account will belong to the Work Permit holder and is to be applied under his/her name with his/her details.

Guarding against Fraud
To guard against fraud, please do not conduct remittances or provide your personal details through phone texts, calls or emails.

Banks are regulated by the Monetary Authority of Singapore (MAS). You can perform remittance online safely via DBS Remit at S$0* fee.

 

Benefits of the POSB Payroll Account

For Employers

For MWs and MDWs

Save time when you go cashless

No more queueing for cash, every month. Transfer your MWs or MDWs salary online instantly.

Pay easily with the DBS Visa Debit Card

Go cash free with your DBS Visa Debit Card! Pay at any NETS-accepted store, ride public transport, top up your prepaid SIM card and more. And if you still need to withdraw cash, you can make your first 4 ATM cash withdrawals per month at S$0 fee.

Never forget your next salary payment

Set up standing instructions to automatically transfer your MWs or MDWs salary online, so you don’t have to worry about missing a payment!

Manage salary with ease

Secure and accountable salary payment with our digital services helps build trust with your employer.

Track salary payment easily

Records of online fund transfers can be easily accessed via your account statement history, safeguarding both you and your MWs or MDWs.

Remit funds at S$0* fee

With DBS Remit, you can send money back home easily from your account with your mobile phone. It’s safe and convenient!

 

How to Credit Monthly Salary Online

Always feel like there’s not enough time in a day? Now, you can save the hassle of withdrawing cash for your MW or MDW every month. Simply credit his/her salary to his/her POSB Payroll Account via one of these online fund transfers options:

Standing Instructions

Set up Standing Instructions which automatically makes monthly fixed transfers to his/her account

PayNow

Make fund transfers to his/her PayNow registered mobile number

FAST

Make fund transfers from other banks to his/her account via FAST transfer

From 27 March 2020, applications to open POSB Payroll Accounts for new and existing MWs will be done by Corporate Representatives (Corp Reps) via the ‘Bank Account’ module on MOM’s Work Permit Online Portal (WPOL).

 

Eligibility and Fees

  • No initial minimum deposit required for opening POSB Payroll Account.
  • 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.

Important note:

* For remittances to Malaysia, there will be a $3 Service Fee for transactions of S$500 or less, effective 27 January 2021

For MW: Only accounts opened via the MOM system will enjoy a waiver of service charge.
For MDW: Only accounts opened via the MOM system (for new or transfer MDWs) or online (for existing MDWs) will enjoy a waiver of service charge.

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.

 

How to Apply for a POSB Payroll Account

For Migrant Worker:

Please refer to the user guide on the POSB Payroll Account opening for Migrant Worker in WPOL here.

For Migrant Domestic Worker:

When requesting for work permit issuance via the MOM system, select the option to open a POSB account. Your MDW’s consent must be obtained prior to application. For more information, please click here.


To apply for POSB Payroll Account online, you would need the following documents and details.

  • Valid Passport
  • Work permit (front and back copies) or In-Principle Approval (IPA)1
  • Screenshot of SGWorkPass App
  • Mobile number
  • Email address

1If using IPA, please upload a copy of page 1 and 2 “Helper’s copy” (not “Employer’s copy”).

Please key in your FIN number under promo code.

Apply Now

Step-by-step user guide

User Guide for MDW on Online Opening - Dec 2021

 

How to Activate Card and Account

If the application is successful, 2 separate mailers containing the new 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, an exception letter will be sent to the company, addressed to the Corporate Representative.

If the letter is titled POSB Payroll Account: Existing account held by customer, the MW already has an existing account. If the MW needs a card replacement, the MW will need to head to Work Permit Account Services Centre (WPASC).

If the letter is titled POSB Payroll Account: Request for Further Information, the letter will advise the MW to proceed to WPASC for manual account opening. The MW will have to bring the following documents to the branch:

  • Original Passport
  • Original Work Permit
  • A copy of the exception mailer received

(A) Activate account and card via POSB/DBS ATM

  • Insert your New 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.

(B) Activate via SMS

SMS to 77767: Activate<space>Last 4 digit of card number

SMS activation is only valid with Singapore mobile numbers. Please use mobile number registered with the bank.

Important notes:
Activation of account and new card must be done within 100 days. Any delays could result in account closure. As the accounts for MWs are set up based on information sent via MOM, your MW would need to update his mobile number at any AXS machines to use POSB digibank mobile banking app.


2 separate mailers containing the new card and new card PIN will be sent to your MDW’s address registered with MOM. Activation can be done via POSB/DBS ATM, and your MDW will need to provide the following details:

  • New Card PIN from mailer (6-digits)
  • Passport Number (numeric digits only)
  • Date of birth (DDMMYYYY)

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

(A) Activate account and card via POSB/DBS ATM

  • Insert your New 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.

(B) Activate via SMS

SMS to 77767: Activate<space>Last 4 digit of card number

SMS activation is only valid with Singapore mobile numbers. Please use mobile number registered with the bank.

Important notes:
Activation of account and new card must be done within 100 days. Any delays could result in account closure. As the accounts for MDWs are set up based on information sent via MOM, your MDW would need to update her mobile number at any AXS machines to use POSB digibank mobile banking app.

Refer to below multilingual guide for more details for MDW and employers

Information Brochure

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How to Update Mobile Number

Update your mobile number with us so that you can access our suite of mobile banking services such as the POSB digibank app.

AXS Machine

  • Select POSB
  • Select Services for Work Permit Account Holders
  • Select Update Mobile Number Request
  • Enter New Mobile Number

Upon approval, you will receive a confirmation SMS that your mobile number has been updated.

Find the nearest AXS using our Locator.

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Features and Benefits of DBS Visa Debit Card

MCA card

Up to 4% Cashback on what you want, every time

Get up to 4% cashback when you spend on online food delivery, local transport and in foreign currency (including online purchases). Simply spend a minimum of S$500 on Visa and keep your cash withdrawals to S$400 and below in the same month.

Tap and SimplyGo

Tap and SimplyGo on buses and trains without having to top up.

No foreign exchange fee

When you link your DBS Visa Debit Card to any multi-currency account with DBS.

  • Click here for full details and T&Cs of DBS Visa Debit Card.
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Other Banking Services

POSB digibank Mobile

With POSB digibank, we’re make banking as convenient and simple as possible for you. After all, banking should be accessible for everyone – anytime, anywhere. Why? Because we’re neighbours first, bankers second.

Insights that help you stay ahead of your everyday banking needsNEW!

Get personalised notifications, transaction updates, spending overview and analyses for better money management.

New to POSB? It’s easy with digibankingNEW!

Download digibank app and open an account without the need to visit a branch or call us.

Pair with PayLah! for more deals and rewardsNEW!

Move between digibank and PayLah! with just a one-time login to enjoy banking and lifestyle services seamlessly. ​

Intuitive interface and navigation

Designed with you in mind, with smart shortcuts to most-used features.

Tools to make your money work harder

Track, plan, manage and grow your money with smart tools.

Banking made secure and simple

With biometric authentication, you don’t have to enter passwords.

Set up your POSB digibank in under 3 minutes

  1. Download POSB digibank app.

        

  2. Existing customer: Register with your POSB ATM/Debit/Credit Card number and PIN, or via Singpass Face Verification (Singaporean/PR only). 
    New customer: Sign up via Myinfo with Singpass and start banking instantly with a bank account, debit card and PayLah! (Singaporean/PR only).
  3. Set up your Digital Token and you’re done!

For more information on the POSB digibank Mobile, please click here.

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POSB digibank Simple Mode

Whether it’s sending money home or just banking online – the new Simple Mode on POSB digibank makes it even simpler now. Personalise your digibank home screen and continue to send money back home, top up your prepaid anytime, anywhere 24/7 with quicker access. And the best part is you enjoy same day transfer at $0 with DBS remit on digibank. It's the simple details that allow you to bank confidently.

Simple Mode Mass

Send money home easily

Enjoy peace of mind when you remit money home.

Simple Mode Mass

Personalise your digibank interface

Customise your most-used transactions on your home screen.

Simple Mode Mass

Easy set-up

Switch between Simple Mode or Full Mode easily.

For more information on the POSB digibank Simple Mode, please click here.

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DBS Remit

Whatever you’re sending money overseas for, DBS Remit makes transfers effortless and stressless. Just 3 taps and you’re done. And with our new tracking feature, you’ll know where your money is every step of the way. Send securely within the same day to 50+ destinations: Australia, Canada, Eurozone countries, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Mainland China, Myanmar, New Zealand, Philippines, Thailand, UAE, UK, USA and Vietnam. It’s quick and worry-free. Now that’s DBS digibanking!

Start sending from your digibank login screen by tapping ‘Overseas Transfer’.

 

$0 transfer fees and competitive rates.

 

Secure same-day overseas transfers.

 

Zero anxiety with status updates on transfers to Hong Kong and India.

 

Send in 3 steps. Zero fuss.
You’ll save time anytime with hassle-free sending.

  1. Tap Overseas Transfer
  2. Enter amount and recipient
  3. Review and Send

For more information on DBS Remit, please click here.

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POSB PayNow

There's no longer a need to exchange account numbers to send and receive money. With PayNow, you can send money instantly with just the mobile number, NRIC/FIN or Company Unique Entity Number (UEN) of any recipient*.

To start receiving money from anyone*, simply register your mobile number or NRIC/FIN through digibank (online/mobile banking).

*For 9 participating banks only

Link your mobile no. to PayNow

  • Send and receive funds instantly into your PayNow-linked bank account
  • No need to remember bank account numbers

Link your NRIC/FIN to PayNow

  • Faster payouts from Businesses and Government entities*
    *Selected initiatives only
  • No need to register again if you change your mobile number

For more information on the POSB PayNow, please click here.

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