Opening POSB pay account for WP seekers made easier
MOM, DBS join hands to launch integrated application process
Singapore
THE Ministry of Manpower (MOM) and DBS are launching an integrated application process from Oct 16, which will make it easier and quicker for Work Permit (WP) applicants to set up a POSB salary crediting account. As such, employers and WP applicants will not need to turn in individual applications to open a WP bank account, which effectively cuts down on paperwork and waiting time.
Instead, employers can apply for a POSB salary crediting account when they apply for WPs for their new employees on the Work Permit Online portal. After they have taken their new WP employees to the MOM Services Centre for card registration, they can visit the POSB Account Services Centre for Work Permit holders at Hong Lim Complex the next day to activate the bank account.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion
FTSE 100 hits record high on big mining M&A, earnings push
Hermes Q1 sales jump 17% on strong China demand