Summary
- OCBC offers three core business accounts, designed for different company profiles: Business Growth Account, Business Entrepreneur Account Plus, and Multi-Currency Business Account
- OCBC Business Growth Account costs SGD $10 per month with 80 free FAST and GIRO transactions each
- Business Entrepreneur Account Plus has no monthly fees but requires a minimum balance of SGD $30,000
- The Multi-Currency Business Account supports 13 currencies and is free when bundled with the Business Growth Account
- You can open OCBC business accounts online with Singpass
Headquartered in Singapore, the Oversea-Chinese Banking Corporation (OCBC) is the second-largest bank in Southeast Asia by assets.
As of 2026, OCBC is consistently ranked among the World's Top 50 Safest Banks by Global Finance and holds Aa1 credit ratings from Moody's. The bank operates over 400 branches and representative offices across 19 countries and regions, including Singapore, Malaysia, Indonesia, Greater China, and beyond. OCBC has also been recognised as Singapore's Strongest Bank and Best Bank for SMEs in Asia by The Asian Banker in 2025.
With this strong track record and comprehensive suite of business banking products, OCBC remains a trusted choice for companies in Singapore. Looking for a business account for your company? Read on to find out if OCBC fits the bill.
What business accounts are offered at OCBC
OCBC offers three different business accounts:
- The Singapore dollar accounts offered are the Business Growth Account and Business Entrepreneur Account Plus.
- OCBC also provides foreign currency accounts, such as the Multi-Currency Business Account, perfect for companies handling international transactions
Each account is tailored to the needs of various company sizes and types:
Which OCBC business account should you choose for your business
1. OCBC Business Growth Account
The Business Growth Account and Business Entrepreneur Account are Singapore dollar accounts, perfect for business owners looking to set up shop in Singapore.
With no minimum balance or deposit requirements and a low monthly maintenance fee, the OCBC Business Growth Account remains one of Singapore's most popular business accounts.
The only cost you'll incur is a monthly service fee of SGD $10 (waived for the first 2 months).
What you get:
- 80 free FAST transfers per month
- 80 free GIRO transactions per month
- Up to 1% cashback on everyday business spending (digital marketing, software, online retail, travel)
- Unlimited 0.2% cashback on all other business spend
- Complimentary 6-month fire insurance (T&Cs apply)
- Free OCBC Business Debit Card
- Integration with Xero and InvoiceNow
- Access to the OCBC Velocity digital banking platform
Overall, this OCBC business account is a suitable option if you're just starting out.
2. OCBC Business Entrepreneur Account
Alternatively, there's OCBC's Business Entrepreneur Account Plus. Although this business account has no monthly fees, it does have a rather high minimum deposit and daily balance of SGD $30,000.
With a minimum daily balance of SGD $30,000, this account is best for larger companies with significant cash flow. OCBC's Business Entrepreneur Account Plus targets companies looking to expand.
What you get:
- Monthly fee: SGD $0 (no monthly account fee)
- Minimum balance: SGD $30,000 monthly average balance required
- Fall-Below fee: SGD $50 if the minimum balance is not maintained
- Account opening: Online application followed by a branch appointment
- Digital access: Full access via OCBC Velocity
We recommend that start-ups and new businesses consider the costs of the Business Entrepreneur Account Plus before committing.
3. OCBC Multi-Currency Business Account
On the other hand, we have OCBC's Multi-Currency Business Account. As one of OCBC's foreign currency business accounts, it covers transactions in 13 different foreign currencies (USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, CHF, SEK, DKK, and NOK).
This account allows companies to deal directly in their chosen foreign currency. That means more savings on currency conversions.
What it costs in 2026:
- Monthly fee: SGD $10
- Waived if opened together with Business Growth Account (pay only one S$10 fee for both)
- No initial deposit required
- No setup fee
- No fall-below fee
If your company deals in overseas transactions, the Multi-Currency Business Account might be the OCBC business account for you.
How to open an OCBC business account in 2026
The process of opening an OCBC business account differs depending on which account you choose.
Of the three OCBC business accounts offered, the Business Growth Account and the Multi-Currency Business Account can be opened online. You'll need:
- Company UEN (Unique Entity Number)
- Singpass or CorpPass login
- Digital signature specimen
- ACRA business profile
Instant account opening in 2026 is available for:
- Singapore-registered businesses
- Opening their first OCBC Business Account
- Wholly owned by Singapore Citizens or Permanent Residents
Other businesses can still apply online, and OCBC Bank will contact them within 3 working days.
This process is different if you're opting for the Business Entrepreneur Account Plus. You'll have to complete an online application before heading down to a bank branch for an appointment.
OCBC vs Aspire: Key differences
You no longer need to visit a bank branch to open a business account. You can complete the entire process online. Open your business account in minutes with Aspire through a fully digital application experience.
At Aspire, creating a business account is free. No monthly fees, minimum deposits, or minimum balances, even if you're on the hunt for a multi-currency account. Deal in 30+ foreign currencies across 130+ countries and save while you're at it, perfect for businesses that dabble in foreign transactions.
We've come up with a table summarising the different costs of opening a business account with OCBC and Aspire in 2026:
Thousands of Singapore SMEs, startups, and growing companies have already made the switch to Aspire. E-commerce brands need to manage marketplace payouts. Marketing agencies have to track multiple client budgets. Consultants often pay overseas contractors. All of them choose platforms that give them flexibility in how they send and receive money. They want full transparency on fees and exchange rates. Most importantly, they prefer solutions with no hidden charges.
Open your Aspire Business Account today.
Frequently Asked Questions
The Business Growth Account has a SGD $10 monthly fee (waived for the first 2 months), 80 free FAST/GIRO transactions, and no minimum balance. The Business Entrepreneur Account Plus has no monthly fee but requires a minimum daily balance of SGD $30,000 and doesn't include free transactions.
Yes, you can open subsequent accounts via OCBC Velocity for different currencies or transaction segregation.
Eligible businesses receive their account number instantly online. Others typically get their account within 3 working days.
Yes, but they'll need to apply for a Business Foreign Account, which has different requirements and higher fees.
Yes, OCBC accounts integrate with Xero and InvoiceNow for seamless bookkeeping.
- OCBC Business Banking – https://www.ocbc.com/business-banking/smes
- OCBC Business Banking Pricing Guide – https://www.ocbc.com/business-banking/help-and-support/accounts-and-services/business-pricing-guide
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