Fintech / Virtual Bank Account in Singapore

** Account Opening Can be done by video conference without travelling to Singapore **

Singapore has developed Fintech bank service for few years. Wallex is our Fintech partner and focus on remittance and FX services. Other than Singapore, Wallex can also obtained the license in Hong Kong and Indonesia. The custodian bank of Wallex is DBS Bank Singapore. Wallex can provide MT103 document if the remittance done by SWIFT. Same as other Singapore traditional banks, Wallex can provide the DBS Bank Singapore and other international banks SWIFT code and account details for transferring funds transaction.

CORE is an intermediary partner, which can speed up the progress of the application and enquiry. CORE can assist our clients with the completion of the required application document, certifying of documents and guiding you how to open the account faster and easier, therefore, you are hassles free to open bank account for business quickly.

The following are the key factors when using this form of online banking accounts: 

1. A bank account can be opened without the account holder visiting Singapore in person, but a video conference by Skype or WhatsApp or MS Teams is required;
2. Only simple questions will be asked when opening an account. We can help you to avoid the complicated and in-depth supporting documents in relation to the business proof;
3. You may demonstrate the nature and scope of your business through a company website (recommended);
4. An account can be opened usually within 2 to 6 days, subject to complexity of the application;
5. Offers a multi-currencies account with USD, EUR, GBP, HKD, RMB, AUD, CAD, CHF, JPY, NOK, NZD, SEK and SGD.
6. Can provide MT103 document;
7. Account can be used in B2B or B2C;
8. Clients from any countries are allowed, with the exception of sanctioned countries;
9. Ability to dock with other payment platforms such as Stripe, TransferWise and PayPal;
10. No limitation on the maximum amount that is maintained in the account;
11. It is free of charge to open an account and no minimum balance requirement. The fee for each outward remittance is lower than usual banks.

After the account is opened, the following is the account details:

Bank Name :

Beneficiary Name :[ Name of your company]

Account Number :

SWIFT Code/BIC Code :

Bank Code :

Branch Code :

Contact us today to learn more about opening a Virtual Bank Account in Singapore.