I am single and relocating to Singapore for work. I would like to know which between a savings account and a current account would be the best bet for me taking into consideration the interest rate, culture etc.
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Don’t bother to buy insurance from them no matter how cheap they offer it as they do not response to email claims and when one calls them for an update, one is told that it takes two months to REVIEW a claim. Well in my case one month had passed and they wrote back to me asking to prove that I travel outbound and other documents. Now my question is why they did not asked for such documents within a week of my claim submission? Please avoid this company!
HLAssurance Single Trip / HL Assurance
Even though you may purchase this travel insurance from American Express channels, every aspect of the after-sales support is taken care of by Chubb Insurance. Chubb has a very good international reputation for its emergency assistance, which is reassuring if you ever worry about such unforeseen circumstances and events occurring. They have an efficient emergency hotline assistance service, while claims can be submitted online with supporting documents through Chubb’s online portal.
American Express VoyageGuard Travel Insurance Standard Plans / American Express International
For folks with pre-existing medical conditions like asthma or heart conditions, they can consider Sompo’s Travel Joy Deluxe plans. Sompo’s plan only covers medical evacuation however and not trip delays and cancellation as well.However, Sompo offers unlimited evacuation should make up for it. If your condition is life-threatening, unlimited evacuation is more important than being covered for a wide variety of incidents.
SOMPO TravelJoy Deluxe / Sompo Insurance Singapore
With Citibank, you have a choice between complimentary travel insurance with a Citi PremierMiles, Citibank Cash Back or Citibank Rewards Card or paying for a premium insurer. If you take a closer look at the coverage limits on the complimentary insurance plans, you’ll realise that the limits fall way short of industry standards for paid travel insurance. Which essentially means that you take it up on your own risk. If you plan to buy travel insurance with Citibank, you’ll have to pay a premium however as it is expensive and the coverage doesn’t quite fit what you pay for but if good emergency assistance is your top priority, then you might find Citibank travel insurance worth your money.
Citi Travel Insurance / Citibank Singapore
If you pause to consider its cheapest Standard plan, MSIG travel insurance is actually very affordable after the generous promotional discounts. The level of support and clarity MSIG provides is also reassuring and very thoughtful while there terms & conditions are clearly stated on the site and not hidden away in some remote PDF, and the claims process appears to be pleasant. However, the only cons is that MSIG has made the Standard plan very limited in comparison to the Elite and Premier Plans. Once you compare their coverage, you will definitely feel tempted to upgrade.
MSIG TravelEasy Standard / MSIG Insurance Singapore
Unfortunately, Allianz has pretty strict restrictions when it comes to sports coverage as you won't be covered for sailing, hunting, playing polo, mountaineering, skiing, rock climbing, parachuting or hang gliding. You do however, have a golf advantage cover that provides coverage for damaged or lost golf equipment that is in your checked luggage. Allianz has an efficient online claim portal allows customers to submit and file their claims online easily and if you have problems uploading your claim you can call or email them for assistance. If you are claiming for medical or dental expenses, you will still have to send original copies of your supporting documents and an acknowledgement email to the address in the table below.
Allianz Travel Protect Single Trip Gold Plan - Standard Chartered / Standard Chartered Bank Singapore
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There is a surplus of banks in Singapore that can provide banking services for a foreign resident. However choosing a banking option will largely depend on your personal assets, exact needs, duration of stay and so on. For everyday financial paraphernalia like receiving salary, paying rent, or cash withdrawal, a current account would be amply. However, though there exist no limit on cash imports or transactions from overseas, you should not deposit large sums in current accounts as only bank deposits of up to 50,000 SGD are covered by Singapore’s deposit insurance scheme. Subsequently, all account deposits made in foreign currency inclusive of offshore accounts are exempted from insurance in any form. On a lighter note, interest rates are low on both current and savings accounts. Irrespective, I would like to advice that before moving to Singapore you should talk to your independent advisor or bank back home.