All about proof of address in Singapore and the main documents that can be accepted.
Companies providing financial services need to collect a comprehensive list of information from their customers, including proof of address.
Singapore, just like many other countries, requires proof of address for a variety of services, from banking to mobile phone plans. That’s why it’s essential for businesses to familiarize themselves with the exact list of documents that can and can’t be accepted as proof of address in the country.
We at Sumsub prepared a short guide explaining what proof of address is, why it is necessary, and the documents that companies in Singapore need to collect.
Proof of Address (PoA) is a document verifying one’s current residential address. In Singapore, companies verify PoA before opening accounts to minimize fraud. PoA also ensures that businesses can communicate effectively with customers or clients, enabling them to send important documents, bills, statements, or legal notices to the correct address. Besides, PoA allows companies to check whether a client comes from a high-risk country, which can be necessary for compliance purposes.
PoA plays an important role in bank security measures and Anti-Money Laundering (AML) compliance procedures.
There’s a comprehensive list of documents that companies can accept as proof of address. Depending on the type of business, a company can choose what documents fit best, as long as they are sufficient to verify addresses. The list typically includes the following:
Geolocation data can also be used as proof of address as a convenient and time-saving alternative to obtaining physical documents. Although regulators haven’t yet accepted geolocation-based proof of address solutions on par with conventional, document-based approaches, businesses can still consider this as a complementary measure during the customer due diligence (CDD) process.
A geolocation-based solution can detect the user’s location using a number of data points:
Companies generally shouldn’t accept documents that are:
Proof of Address (PoA) is a document verifying one’s current residential address. In Singapore, companies verify such documents before opening accounts to minimize fraud.
When changing their address, Singapore residents have to notify the Immigration & Checkpoints Authority (ICA) within 28 days of moving to their new location. Residents aren’t required to provide supporting documents to update their address. All National Registration Identity Card holders are required to apply for a change of address either online via the e-Service or in person.