Corporate Bank Account Guide
OCBC entreprenuer corporate account has the lowest initial deposit of S$500 but you need to sign up with them within 6 months of business registration. If you have been incorporate for more than 6 months, then UOB has the lowest initial deposit of S$1,000.
Generally, banks will charge a service fee of S$15 per month if your average monthly balance falls below S$10,000.
1) UOB Bank (UOB Website)
a) UOB Corporate Current Account
- A monthly statement of account for easy reference.
- A free Corporate UniCard (UOB Corporate ATM card) with NETS facility.
- Free cheque books that are automatically replenished.
- Easy access to your Current Account through UOB Group's PhoneBanking service.
- You'll also have the option of enjoying the benefits of Business Internet Bankingâ€" UOB Group's premier web-based banking solution for businesses.
- Initial Deposit of S$1000
- Minimum fee of S$15 if average daily balance fall below S$10,000 during the month
2) DBS Bank (DBS Website)
a) DBS Corporate Current Account
- 1st 30 cheques per month free. Subsequent cheque at $0.40.
- Earn daily interest on your balances at competitive rates.Interest is paid only on qualifying tiered balances.
- Receive a monthly statement with transaction details of your Current Account.
- Apply for your BankCard at any of our DBS/POSB branch.
- Get access to a wide range of self-service banking facilities at our ATMs, Phone Banking, IDEALTM Internet Banking and Quick Cheque Deposit Box.
- Receive new cheque book automatically when you are down to your last few cheques. No reminders, requests or trips to the bank are needed.
- Apply for overdraft facilities at competitive rates.
Initial Deposit of S$3000
Minimum fee of S$15 if average daily balance fall below S$10,000 during the month
3) OCBC Bank (OCBC Website)
a) Entrepreneur Corporate Account (Automatically converted to SGD chequing account after 6 months)
- Unlimited free cheques
- 50% off Giro transaction at Vivocity OCBC
- 6 months waiver of minimum balance fee (subsequently S$15 per month if average monthly balance is below S$10,000)
- 1 free Digipass for Velocity@ocbc
- Initial Deposit of S$500
- All new businesses within 6 months of date of incorporation
b) Business Privilege Account
- Unlimited free cheques
- GIRO transaction fees at S$0.10 via Velocity@ocbc
- Up to 3 free Digipasses for Velocity@ocbc
- eAlerts@ocbc an alert notification service at S$15 per month. First three months free.
- Minimum deposit of S$5,000
- S$20 per month of monthly average balance falls below S$10,000
- If eAlerts@ocbc service be terminated, the Business Privilege Account will be automatically converted to an ordinary current account.
c) Singapore Dollar Chequing Account
- S$ 0.50 per cheque from the 31st cheque onwards per month
- Minimum initial deposit of S$ 5,000
- Minimum credit balance of S$ 10,000
- S$15 per month if monthly average balance falls below S$ 10,000