Opening Account as a Customer

To transact with MPA, a customer has to first open an account. Once the account is opened, it will be accompanied by complimentary access to Marinet (for 10 users) to facilitate customer’s adherence with statutory and regulatory requirements, and for operational and financial transactions.

As part of our eco-office efforts, only e-invoices and e-statements will be provided via Marinet.

Frequently Asked Questions (FAQ)

1) How long does it take to process a new account opening?
All application forms for will be processed within 3 working days upon complete submission of all relevant information and the required supporting documents.

2) When is a Banker’s Guarantee / Insurance Bond (Demand Insurance) required?
A Banker’s Guarantee of SGD5,000.00 is required for all new MPA account applications (except for exempted entities), and this shall be valid for a period of one year from the date of application of account. The Banker's Guarantee requirements of each applicant are also subject to regular reviews by MPA.

The exempted entities are:

  1. Singapore Government agencies
  2. Charities and Institutions of a Public Character
  3. Industry organisations and associations as classified in the SMF Singapore Maritime Services Guide
  4. MPA public licensees
  5. Local individuals who own pleasure craft owners
  6. Corporate customers with annual turnover less than $5,000 with MPA

3) How do I sign up for Interbank Giro facilities and what is the frequency of the Giro Deductions?
You could sign up for the interbank Giro facilities by filling up and submitting the inter-bank Giro form available here. Giro deductions are done weekly.

4) How can I request for copies of credit note, statement of account, payment invoice or a certified true copy of an invoice?
You may access your company’s bills and statements of accounts through Marinet.

5) What is the e-Finance initiative on Marinet about?
Effective from 1 Apr 2014, MPA has launched a series of e-Finance initiatives on the Marinet system. e-Finance aims to provide customers with increased convenience in retrieving financial documents and offer alternative modes of payment.