Wednesday, March 17, 2010

Opening a Peso Account in Singapore

*** please take note of the revisions done to my bold (in block letters). I have also added some info based on my personal visit to the bank (in italics).


I have been researching on banks wherein we can open the account in Singapore, deposit money here, as well as deposit and withdraw money (peso) in the Philippines. Philippine National Bank (PNB) is offering this service. 

The peso account will be opened in a specific branch in the Philippines chosen by the account holder. Forms will have to be filled up and all required documents will be collected in the Singapore office at Lucky Plaza. There are a lot of forms to be filled up so better prepare to do so for around 5-10minutes.

Requirements are:
- 2 IDs (passport + work pass / IC)
- 1 passport size photo
- $50 minimum initial opening amount wherein $16.50 processing fee will be deducted from

It takes around 6 weeks to process the application since the Singapore Branch will send the application forms and documents to the chosen Philippine Branch.

Account holder can choose either an ATM card or a passbook. For joint accounts, only passbook will be given. These will be received within 6 weeks. Together with the ATM is the temporary pin. The pin can be changed at any ATM in the Philippines. Take note no withdrawals can be done in Singapore.

Online banking can also be registered at the PNB Singapore branch. Once the peso account has been approved the account holder can register for online banking. Checking of account balance and transactions can be done upon approval and receipt of the reference number for internet banking.


Online fund transfer to PNB Peso Account can also be done if you are holding a DBS, POSB or UOB bank account in Singapore. First remittance/fund transfer should be done over the counter. Succeeding transfers can be done online.


There is no minimum maintaining balance for OFW accounts.


Account will be considered dormant if there is no activity for 2 years.

For more info, visit or call PNB:
304 Orchard Rd #03-02 to 07 Lucky Plaza Shopping Centre, Singapore 238863
Telephone: 6737 4106
website: http://www.pnb.com.ph/singapore


Please take note of the following contact detail updates for PNB (as of 28 April 2016):

New Telephone number: 6737-4646
Trunkline extensions:
111, 112 & 113 - Customer Service
116 - General Inquiries
106 - Remittance/Special Service Status
103 - Pangarap Loan
114 - Own a Philippine Home Loan
108 - Time Deposit

Office hours: 9am-730pm, Monday to Sunday
Email: singapore@pnb.com.ph



29 comments:

  1. Thanks! A very informative article. :-)

    www.krisgironella.com

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    1. You are most welcome. I'm glad this blog has been useful to you

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  2. Thanks! Been looking all over the net for this info. :)

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    1. My pleasure. Good to know my blog has been informative :)

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  3. hello...good evening...im asking about my pin #...i forget..but last year i widthdraw the money....then now i can not write in a paper or save the pin#..i see the paper of the pin# just remove....how...i can not change my pin #....help me...thanks

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    Replies
    1. Hi. If you forgot about your pin# it's better that you email PNB about it. The customer service officers should be able to advise you on how to get a new pin#.

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  4. Hello. I wanted to open deposit account in PNB but the problem is I dont have my passport with me since I handed it to my employer and they went for a vacation. Is my SSS id and work permit is enough to open a new account in there?

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    Replies
    1. Based on the requirements I have listed above, there should be 2 IDs. You can inquire from the bank itself to determine whether they can accept SSS ID and work permit without your passport.

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  5. Can i ask question? If joint accounts, does both person nid to bring their passports? Or only one person will do? Thanks

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    1. Yes, you need to bring both passports. And both of you have to be present when opening an account because you need to sign the account opening forms. That's what we did when we opened an account. For updated information, you can contact the bank directly.

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  6. Help please. Can I do over the counter withdrawal in PNB Lucky Plaza branch? We have a joint account made in the Philippines. Thanks!

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    1. Hi Jose, I am not too sure about if this transaction can be done at PNB Lucky Plaza. What I know is that we can submit an application for opening a bank account in the Philippines thru PNB Lucky Plaza. We can make deposits to that account thru PNB Lucky Plaza as well. I have not tried withdrawing money from PNB Lucky Plaza.

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  8. Thanks! Is this the only bank account from the Phil. that offers this service?

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    1. Hi. As far as, yes. For further info, you can contact the Philippine bank of your choice and ask them if they have any services or branches or partners here in Singapore.

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  9. Hi can i ask something.....coz i just open accnt last month is my own savings accnt so i was thinking that i want to joint accnt my daughter in my accnt...thanks

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    1. Hi! Do you mean you want to change your personal savings account to a joint account with your daughter? It may be possible depending on the restrictions of the account you have opened recently. To get more accurate info, you can call PNB directly and get the details on how to proceed with the joint account. Their contact number is 6737 4646. This is their updated contact number.

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  11. I only have the photocopy i have the old pasport is ok to bring

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    1. Hi Tomyles! May I ask if you are referring to opening an account with PNB with only a photocopy of your old passport? If so, here are my thoughts:
      - I think banks would prefer to see your current passport as it has the updated details (eg. new passport number)
      - you can bring a photocopy but preferably bring the original, just to make sure

      For further inquiries, you can call PNB hotline as the bank officers can give you a more accurate and updated info.

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  12. Hi. May I I ask if I can deposit at my bank account without a passbook, only my bank account number I have. 'Cause I left my passbook in the Philippines..

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    1. Hi Jane! As I am not a PNB employee nor experienced making a deposit without a passbook, I cannot advise you on this. I would suggest though that you call 6737-4646 to inquire directly from PNB. Hope this helps.

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  13. hi! I want to open a savings account, the problem is my passport is in my employer it is ok to bring the xerox copy?

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    1. Hi Giane... the bank will require the original passport, based on experience. For more info, you can call 6737-4646 to verify with their customer service officer.

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  15. Hi Giane just want to ask if how can collect my ATM on November 26 but i lost my receipt what should i do so that ican collect the ATM?its my first time to open.thank u

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    1. Hi Ruby! This is Karen. I suggest you give the bank a call to ask what documents you need to bring if you want to collect your ATM card and you lost your receipt. I think you may need to produce the documents you brought when you opened your account. Hope this helps.

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  16. Evening I ask something about my saving account becoz I did not remit yet in 1 yr.mam its tell active o close ready tenx .

    ReplyDelete
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    1. Hi Jovelyn... lease take note that I am not an employee of the bank so I can not confirm whether your bank account is active or not.

      You can call the bank directly to check if your account is still active. P

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