Mdm, access to a bank account is essential in daily life in Singapore. In response to a cut filed in 2022 by my colleague, Mr Gerald Giam, then-Deputy Chairman of MAS Mr Lawrence Wong, had spoken on the Limited Purpose Bank Accounts which was then in its pilot phase. These accounts are meant to help ex-offenders to access basic banking services including receiving their salaries and government payouts. I seek an update on how many local banks are offering such accounts for ex-offenders and whether MAS has data on the take up rate for such accounts by ex-offenders.
Sir, one of my constituents recently approached me for assistance with opening a bank account. My constituent is an ex-offender and needed a bank account in order to receive her salary. I sent appeals to six different local banks which were all unsuccessful. I also sent an appeal to MAS. MAS offered to forward my constituent’s appeal to DBS, UOB, and OCBC but stated they were unable to compel any banks to open an account for my constituent. I urge MAS to work with MHA and SPS in ensuring ex-offenders can open bank accounts.
