OCBC Business Entrepreneur Account plus review in 2026

Rating

Overall rating: 3.2/5

Methodology

Our evaluation of the Business Entrepreneur Account OCBC is based on a structured and transparent rating framework designed to deliver an objective assessment of its overall quality.

Arithmetic mean approach

The final score is derived using the arithmetic mean, the simple average of all five pillar scores.

Equal weighting

The evaluation covers five categories: Features, Pricing, Global payments, Ease of onboarding, and Support and ecosystem. Each category carries equal weight, ensuring a balanced and impartial final score.

Data sources

Scores are informed by a combination of official documentation, publicly available pricing and feature disclosures, and verified third-party reviews.

Interpretation caveat

While this methodology offers a fair and consistent benchmark, it does not account for the specific priorities of individual businesses.

Intended use

The final score serves as a general performance indicator, useful for comparison and decision-making. It should be considered alongside your business's unique requirements.

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Key features of the OCBC Business Entrepreneur Account Plus

The Business Entrepreneur Account Plus is an SGD current account designed for everyday business banking. There is no monthly account fee as long as you maintain a minimum average balance of SGD $30,000. The account is geared towards established businesses that need a simple way to manage daily payments and collections.

Here are the key features of the account:

No recurring monthly account fee

The OCBC Business Entrepreneur Account Plus carries no monthly account maintenance fee. A SGD $50 service charge applies if the monthly average balance falls below SGD $30,000, but as long as that threshold is maintained, the account costs nothing to hold.

Free FAST and GIRO transaction bundle

The first 80 FAST payments and 80 outward GIRO transactions per month are free when processed via OCBC Velocity, OCBC business mobile banking and internet banking platform. Standard charges apply from the 81st transaction onwards. For businesses with moderate transaction volumes, this removes a meaningful recurring cost.

OCBC business debit card

Account holders can apply for the OCBC Business Debit Card, which offers 1% cashback on eligible spending in digital marketing, software services, online retail, and travel categories. The additional 0.8% bonus cashback is capped at SGD $80 per month, while all other eligible transactions earn an unlimited 0.2% cashback. The card has no annual fee, no minimum spend requirement, and can be used for local and international payments through the Mastercard network.

OCBC Velocity digital banking and cash management

Day-to-day OCBC business mobile banking and account management runs through OCBC Velocity on both desktop and mobile. OCBC Velocity supports payment processing, transaction tracking, bulk payments, and cash flow monitoring. The OCBC Business app gives account holders real-time visibility of balances and spending.

Access to OCBC's broader business ecosystem

Account holders have access to OCBC's full range of business banking products in Singapore, including business loans, trade finance, overdraft facilities, and the OCBC Multi-Currency Business Account (supporting 13 currencies, available as a linked account with no set-up fee and no fall-below fee).

OCBC Business Entrepreneur Account Plus fees and charges

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Eligibility and how to open the OCBC Business Entrepreneur Account Plus

Here are the eligibility requirements and simple steps to open an OCBC Business Entrepreneur Account Plus, designed to support your business banking needs from day one.

Eligibility

The Business Entrepreneur Account Plus is open to all businesses registered and based in Singapore. Additional eligibility criteria may apply. Foreign-incorporated companies are not eligible for this account and should apply for the OCBC Business Foreign Account instead.

Documents required

You will need:

• Company name or UEN (Unique Entity Number)
  
• Singpass or passport authentication details
  
• Images of your signature for upload
  

Application process

Apply online via the OCBC Business Entrepreneur Account Plus page. Submit your business registration details and identity information, and OCBC will contact you within 3 working days to complete the process.

If you already have an existing OCBC business mobile banking account, you can open a subsequent account directly via OCBC Velocity without submitting a fresh application.

Who is the OCBC Business Entrepreneur Account Plus best suited for?

It works well for:

• Established Singapore-registered businesses that can consistently hold SGD $30,000 or above in their operating account
  
• Companies that want to eliminate a monthly account fee in exchange for maintaining a healthy balance
  
• Businesses with moderate transaction volumes that stay within the 80 free FAST and GIRO transactions per month
  
• Professional services firms, healthcare practices, and mid-sized operators in sectors like logistics, retail, or F&B that have stable cash positions
  
• Existing OCBC customers who want to open a linked business account without going through a fresh application process
  

It is less suitable for:

• Startups or early-stage businesses that cannot consistently meet the SGD $30,000 minimum monthly average balance
  
• Businesses with high local transaction volumes, the 80-transaction free threshold is lower than some alternatives
  
• Companies that need multi-currency support natively in their primary account
  
• Businesses that need built-in expense management such as Xero or other accounting software integrations.
  
• Foreign-incorporated companies, this account is not available to them
  

Pros and cons of the OCBC Business Entrepreneur Account Plus

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User Ratings and Reviews

• App Store (iOS): Rated 4.6/5 from more than 8,500 reviews. Users generally praise the app experience, though some recent reviews mention login and stability issues after updates.
  
• Google Play: Rated 4.7/5 from over 4,150 reviews. While overall feedback is positive, some users report installation challenges, device compatibility issues, and bugs following updates.
  
• Trustpilot: Rated 1.6/5 from a small number of reviews. Common complaints include difficulties accessing accounts, transfer-related issues, and slow customer support responses.
  

OCBC Business Entrepreneur Account Plus vs competitors in Singapore

The Business Entrepreneur Account Plus is designed for established Singapore businesses with stable balances. Here is how it compares against other business accounts available in Singapore as a corporate account Singapore option.

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Other alternatives to OCBC Business Entrepreneur Account Plus

When it comes to picking a business account in Singapore, here are the main alternatives to the OCBC Business Entrepreneur Account Plus:

• DBS Business: A multi-currency account supporting 13 currencies. The Starter Bundle, for businesses under 3 years old, has no minimum balance, unlimited free FAST and GIRO transactions, and a SGD $10 monthly fee. DBS offers FX rate lock-in on business transfers and integrates with Xero, QuickBooks, and Financio. For newer businesses or those wanting unlimited free transactions from a traditional bank, DBS has an advantage over most banks..
  
• UOB eBusiness Account: A SGD current account with a SGD $5,000 minimum average daily balance and a SGD $15 monthly fall-below fee. UOB provides rebates that make up to 60 outgoing FAST and 60 GIRO transactions effectively free each month, and the fall-below fee is waived off for the first 12 months. For businesses that cannot sustain a SGD $30,000 balance, UOB eBusiness is a more accessible entry point.
  
• Standard Chartered BusinessOne: This SGD-denominated business account requires a minimum average balance of SGD $30,000 and charges a SGD $50 fall-below fee. It comes with a business debit card that earns 1% cashback on eligible spending with no cashback cap, and the monthly internet banking fee is waived. However, businesses that close the account within the first six months may incur a SGD $500 early closure fee, which is higher than many competing business accounts. The account may appeal to businesses that prioritise cashback rewards on their spending.
  
• Wise Business: This multicurrency account supports 40+ currencies at the mid-market rate with fees shown upfront before every transaction. There is a one-time SGD $99 setup fee and no monthly charges after that. Wise does not offer financing, overdraft facilities, or trade services. For businesses whose primary need is efficient international payments rather than local credit facilities, Wise Business is worth a direct comparison.
  

Conclusion

This OCBC Business Entrepreneur Plus Account review covers a product with a clear value proposition: no monthly fee for businesses that maintain a SGD $30,000 balance. For established Singapore-registered businesses in that position, professional services firms, healthcare practices, or stable SMEs in logistics, retail, or F&B, the trade-off is straightforward.

The limitations are equally clear. The SGD $30,000 initial deposit and minimum balance are a high bar for growing businesses. The 80-transaction free threshold is lower than some alternatives, and the account holds SGD only. There are no native accounting integrations, so businesses that need Xero or other software integration will need to look elsewhere.

Aspire, for instance, has no minimum balance, no initial deposit, no fall-below fee, and supports 30+ currencies with built-in expense management, corporate cards, and integrations with Xero, QuickBooks, and NetSuite in one platform. For businesses that need a complete financial stack, it is worth comparing before committing.

FAQs

What is the minimum balance for the OCBC Business Entrepreneur Account Plus?

The minimum monthly average balance for the Business Entrepreneur Account Plus is SGD $30,000. If the balance is not maintained, a fall-below fee of SGD $50 applies for that month.

Does the OCBC Business Entrepreneur Account Plus have a monthly fee?

No. The account does not charge a recurring monthly account fee. A SGD $50 service charge applies only if the monthly average balance drops below SGD $30,000.

How do I open an OCBC Business Entrepreneur Account Plus in Singapore?

Apply online using your company name or UEN, Singpass or passport authentication details, and images of your signature. OCBC will contact you within 3 working days to complete the process. Existing OCBC business mobile banking customers can apply for a subsequent account directly via OCBC Velocity.

Is the OCBC Business Entrepreneur Account Plus a good business account for growing businesses in Singapore?

It depends on the stage of the business. For SMEs with stable cash positions of SGD $30,000 or above that want to avoid a monthly account fee, it is a practical option. Businesses that are still growing toward that balance, or those with high transaction volumes and multi-currency needs, will find more suitable options elsewhere.

Is the OCBC Business Entrepreneur Account Plus a business account?

Yes. It is a business account designed for companies registered and based in Singapore, primarily to help businesses manage payments and collections.

Does OCBC Business Entrepreneur Account Plus integrate with Xero?

No. OCBC does not offer a native Xero integration for the Business Entrepreneur Account Plus. If Xero or other accounting software integration is a requirement, platforms like Aspire offer direct integrations with Xero, QuickBooks, Oracle NetSuite, and others.

Sources

Ebusiness account, UOB https://www.uob.com.sg/business/accounts/uob-ebusiness-account.page

Pricing Guide, OCBC - OCBC Business Banking Pricing Guide

Debit card, OCBC - https://www.ocbc.com/business-banking/smes/transactions/business-debit-card

Product and features, OCBC - https://www.ocbc.com/business-banking/smes/accounts/business-entrepreneur-account-plus

Features, Standard Chartered - https://www.sc.com/sg/business-accounts/businessone/

Business banking, Wise - https://wise.com/sg/business/

Business account, DBS - https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account