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Jennifer Yarbrough

Bank Accounts for Helpers

Updated: Oct 12

We often get the question about how to open a bank account for your helper. Here are two ways you can do it.


  1. If your helper is new to you, either transferring or coming in from overseas, we can ask MOM to open a bank account when we issue her permit. MOM will transmit her details to POSB, and they will open a bank account specially tailored for the needs of MDWs. Most times, a bank card will come to your home in a few weeks and she can begin using the account right away.


  2. If this doesn't work, or it wasn't considered at issuance, your helper can take her work permit and passport to a POSB branch to open an account. There are other banks you can consider, but POSB is the one that has worked with MOM to create an account with low fees.


If you're wondering why MOM would get involved in the bank account business, it's because they want to see more helpers utilizing bank accounts to keep their money safe. It has a lot of benefits. It also helps them take advantage of being cashless, and with so many retailers and restaurants going cashless these days, it's definitely a benefit to them. It's also safer than the money in a piggy bank technique.


I hear a lot of stories about helpers having their savings stolen from the employer's home. Sometimes it is a visiting relative, sometimes it is a maintenance person coming to the home, and sometimes, it is the helper of a relative who has come for dinner. We encourage helpers to have bank accounts to help avoid these scenarios, so they can keep their money safe.


Don't let your helper save in a piggy bank

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