Full banks may undertake universal banking, including the following activities:
- Deposit taking.
- Cheque services and lending.
- Any other businesses regulated or authorised by MAS, including financial advisory services, insurance broking and capital market services.
Qualifying Full Banks
Foreign full banks with Qualifying Full Bank (QFB) privileges may operate a total of 25 locations. They may also:
- Share ATMs among themselves, and relocate their sub-branches freely.
- Negotiate with the local banks on a commercial basis to let their credit card holders obtain cash. advances through the local bank's ATM networks.
- Provide debit services through an EFTPOS network.
- Offer and accounts.
- Accept fixed deposits under the CPF Investment Scheme and .
Wholesale banks are licensed under and governed by the . Wholesale banks may engage in the same range of banking business as full banks, except that they do not carry out Singapore dollar retail banking activities.