A one-stop process for Work Permit (WP) applicants to open a POSB salary crediting account

From 16 October 2014, the Ministry of Manpower (MOM) and DBS will launch a one-stop process for Work Permit (WP) applicants to open a POSB salary crediting account as part of the WP application process instead of submitting separate applications for the WP bank account opening.

Employers can now apply for a POSB salary crediting account when they request for issuance of WPs for their new WP employees via the Work Permit Online portal. Employers will bring their new WP employees to the MOM Services Centre for card registration on their selected appointment, and on the following day, WP employees can visit the POSB Account Services Centre for Work Permit holders to simply activate the bank account and collect the ATM card.

Currently, minimum account opening deposit is not required for the POSB salary crediting account. The account is packaged with an ATM card, which allows the workers to check their account balance and access funds via ATM. Employers can also use the DBS salary credit service to credit salary into the workers’ accounts.

For more information, please visit www.posb.com.sg/wp.

[social_share style=”bar” align=”horizontal” heading_align=”inline” text=”” heading=”” facebook=”1″ twitter=”1″ google_plus=”1″ linkedin=”1″ pinterest=”1″ link=”” /]