How to Open a POSB Bank Account for Your Domestic Helper in Singapore

If you hire a domestic helper, you should open a bank account for them to guarantee secure salary payments, give them safe access to their earnings, and allow them to manage their own finances. A POSB account is a popular choice, thanks to its wide accessibility and simple setup. But receiving their pay is only the first step, most helpers want to send part of their income back to their families.

We'll also introduce the Wise account, a handy companion to make your money go further with low, transparent fees. By pairing a POSB account with Wise, you make it possible for your helper to transfer money home affordably, with direct payouts to services like GCash in the Philippines or bank accounts in Indonesia.

Can a domestic helper open a bank account in Singapore?

Yes, domestic helpers, better known as migrant domestic workers (MDWs) in Singapore, can open a bank account if they’re on a work permit. Banks like POSB offer accounts made specifically for work permit holders, typically with features like no minimum deposit requirements, low fees, and easy access to ATMs. This allows your domestic helper to receive their salary, withdraw cash, and make local transfers.

Documents required to open a POSB account for a domestic helper

If you’re hiring a new domestic helper or transferring one to your employment, you can select the option to open a POSB Payroll Account for Work Permit Holders when you’re applying for their work permit. To do this, you’ll need your helper’s consent.

Once the work permit is approved, the Ministry of Manpower (MOM) will share your MDW’s name, date of birth, nationality, gender, and residential address with POSB, so you don’t need to provide any additional documentation.¹

When your MDW arrives, they need to bring the following documents to pick up their card¹:

• Original passport
• In-Principle Approval (IPA) letter or work permit card

Existing MDWs can open their own POSB account online with these documents²:

• Valid passport
• Front and back copy of the work permit or IPA letter
• Mobile number
• Email address
• Screenshot of the SGWorkPass app where your residential address is displayed
• Proof of mobile number ownership³

How to open a POSB account for a domestic helper

To open a POSB account for your new domestic helper, you need to¹:

1. Get your MDW’s consent. Get written consent from your MDW to open a POSB account on their behalf when you apply for their work permit.
2. Make an appointment with the MOM. When your MDW arrives in Singapore, make an appointment for them at the MOM Services Centre - Hall C for work permit card registration. POSB will then process the account application one working day later.
3. Pick up and activate the card. When the bank card is ready, your MDW can go to the POSB Account Services Centre for Work Permit holders to pick up and activate their bank card.

Existing MDWs can follow these steps to open their own POSB account³:

1. Enter your personal details on the online application. This includes your email address, mobile number, identity type, nationality, name, occupation, passport number, gender, marital status, race, type of residence, and residential address.
2. Complete the Other Details section. This section asks about your tax information, education level, purpose and source of funds for the account, annual income, anticipated account activities, preferred name to appear on the card, and PayNow registration.
3. Upload the documents. When the application form is complete, you can upload pictures of all the necessary documents.
4. Wait for a text and a letter. You’ll receive a text as soon as you submit your application, and another on the account opening status within 5 working days. You’ll also receive your debit card, PIN, and digital token registration code at your mailing address within 5 working days.
5. Activate the card. Take the card to your nearest POSB or DBS ATM and insert it. Enter your PIN, select More Services, select Cards/PIN/iBanking/Phonebanking, select Activate Card, and then follow the instructions on the screen to complete the activation.²

What to look out for in a bank account for your helper

If you’re not sure whether POSB is the right choice for your domestic helper, you can also look at other banks by comparing the following features:

• Monthly and fall-below fees: Ensure the account has low or no maintenance fees and minimal penalties for low balances.
• ATM withdrawal limits and charges: Check daily withdrawal limits and fees, especially for using other banks’ ATMs.
• Remittance fees and exchange rates: Look at the costs of sending money overseas and how competitive the exchange rate is.
• Accessibility: Confirm whether your MDW can monitor their account online or on a mobile banking app.
• Ease of account setup: Consider how simple the application process is, including the documents required.

A cheap and easy way to send money home: Wise

Although a POSB account works well for managing a domestic helper’s earnings, sending money abroad can be expensive due to hidden fees and unfavourable exchange rates. Wise offers a cost-effective alternative, allowing FDWs to send funds home with transparent, low fees and competitive rates. Helpers can use Wise to send money directly to their family’s bank accounts or to mobile wallets like GCash in the Philippines.

Wise international money transfers can be set up online or within the Wise app with low fees from 0.26% and the mid-market rate, to over 140+ countries. There’s no markup added to the exchange rate that’s used to convert your currency, which makes it easier to see exactly what you're paying for a transfer, and what the recipient will get in the end. Just transfer the amount indicated in SGD and let Wise do the rest.

Track your transfers easily when you create a free Wise account, and manage, hold, and convert your money in SGD and 40+ other currencies. You'll get the same great rates, and be able to track your transfers all from one place. As a bonus, you can also get 8+ local account details to be able to receive money in SGD, USD, GBP, and more.

✍️ Sign up for a free account now