How to Open a Bank Account for Your Maid in Singapore (A Guide for Employers)

Updated on 18 March 2026

From 1 January 2019, employers of foreign domestic workers (FDWs) in Singapore are not allowed to safekeep their helper’s money, including salary. This rule helps protect both employers and domestic helpers from money-related disputes and misunderstandings.

Because of this, opening a bank account for your maid is now one of the most practical and recommended ways to manage salary payments safely and transparently.

Why Should Domestic Helpers Have a Bank Account?

Opening a bank account is not just about compliance—it also benefits both employers and helpers in everyday life.

1. Avoiding Salary-Related Disputes

Employers can set up automatic bank transfers to ensure salaries are paid on time every month.

✔ Clear transaction records help:

• Track payments easily

• Prevent misunderstandings

• Reduce salary disputes

This creates a more transparent and professional arrangement for both parties.

2. Safety and Security

Keeping money in a bank account is much safer than cash.

✔ It protects against:

• Theft

• Loss

• Accidental damage

This is especially important for domestic helpers who may otherwise carry large amounts of cash.

3. Better Personal Finance Management

Having a bank account allows helpers to:

• Withdraw only what they need

• Save money more effectively

• Send remittances home more easily

Some employers worry that helpers may overspend if they manage their own salary. However, in Singapore, there are NGOs and community organizations offering financial literacy programs specifically for domestic helpers.

These programs help FDWs:

• Budget properly

• Save consistently

• Avoid debt or money lenders

Bank Account Options for Domestic Helpers in Singapore

There are several banking options available in Singapore that are suitable for FDWs. Below are some commonly used accounts.

1. OCBC Savings Account

OCBC offers savings accounts that foreign workers can open, but requirements may vary depending on the account type.

✔ Key points:

• May require a minimum balance (e.g. around SGD 1,000 depending on account type)

• Monthly fall-below fee may apply if balance is not maintained

• Suitable for helpers who can maintain a higher balance

👉 Tip: Requirements may change, so it’s best to check directly with OCBC for the latest terms.

2. POSB Payroll Account (FDW)

The POSB Payroll Account (FDW) is one of the most popular options for domestic helpers in Singapore.

✔ Key benefits:

• No initial deposit required

• No minimum balance requirement (subject to terms)

• Designed specifically for FDWs

✔ Convenient setup:

• Employers can apply when submitting or renewing a Work Permit via MOM eServices

• Supported by DBS/POSB

Additional Support: Centre for Domestic Employees (CDE)

The Centre for Domestic Employees (CDE) can assist FDWs in opening a POSB Payroll Account.

✔ Services include:

• Guided account opening

• Support for first-time bank users

This is especially helpful for helpers who are new to Singapore.

Other Banking Options

Other banks in Singapore also offer savings accounts with:

• Low minimum balance

• Basic banking features

Employers can check with their preferred bank to explore FDW-friendly options.

Important Reminders for Employers

• Do not hold or safekeep your helper’s salary

• Pay salary on time via bank transfer whenever possible

• Keep clear records of all payments

• Support your helper in setting up a bank account if needed

Final Thoughts

Opening a bank account for your domestic helper is a simple step that can make a big difference.

It helps ensure:

• Compliance with Singapore regulations

• Better financial security

• A more transparent and trusting working relationship

At HelperChoice, we always encourage employers and helpers to adopt practices that promote fairness, safety, and long-term well-being.