From 1 January 2019, employers of foreign domestic workers (FDWs) in Singapore are no longer allowed to safe keep any money belonging to their FDW including the salary in order to protect both parties from money-related disputes. Therefore, opening a bank account for your maid will be one of the safest and fuss-free ways for both you and your FDW to manage her money.
By opening an account, Employers can:
- Save time when you go cashless. You no longer need to queue at the ATMs for cash every month. Simply transfer your FDW’s salary online
- Set up standing instructions. Now you can automatically transfer your FDW’s salary online, so you don’t have to worry missing a payment!
- Maintain proper online records. Scafeguard you and your FDW to prevent any disputes
Meanwhile, your FDW can:
- Receive salary payment easily via online fund transfers
- Pay for purchases at supermarkets, shopping malls and all NETS-accepted stores
- Pay for public transport
- Top up her telco prepaid cards
- Withdraw cash via POSB Cash-Point or ATM
- Save without worrying for the need to maintain a minimum balance every month.
Do note that the POSB Account will be under the FDW’s name with her details.
When can I open an account?
If you are employing your new FDW through an Employment Agency, they will help submit the application on your behalf during the work permit issuance process. For current employers, you can open a new account anytime at this website.