Quick Rundown: The Best Corporate Bank Accounts in Singapore

Published on
October 15, 2020
Written by
Marissa Saini
Reviewed by
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Quick Rundown: The Best Corporate Bank Accounts in Singapore
A quick rundown of the best corporate bank accounts in Singapore, the benefits that they have to offer, and whom they are best suited for.
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We’ve compared the best business bank accounts in Singapore, and weighed their pros and cons. But sometimes you want a quick rundown of the best corporate bank accounts in Singapore, and the benefits that they have to offer.

Singapore is home to an array of corporate bank accounts, each with their own perks. So we’ve decided to break down the different corporate accounts on offer, and the kind of business owners they’re best suited for.

1. Best corporate bank account for the start-up founder: Maybank Flexibiz Account

Just like its name suggests, the Maybank Flexibiz Account is well liked because of its financial flexibility. This account has only one initial fee: S$1,000 minimum deposit.

Start-ups that are working on a tight budget are less likely to pay exorbitant monthly maintenance fees. With no account fees or monthly fees to be paid, the Maybank Flexibiz Account is one of the best corporate bank accounts for companies that are just starting out.

2. Best Corporate Bank Account for the business owner looking to expand: UOB Singapore Dollar Current Account

UOB is one of the most renowned banks in the region. With partnership ties across Asia, the corporate accounts that UOB offers are tailored towards business expansion.

Enjoy S$0.50 rebate per transaction on up to 50 outgoing FAST/Paynow transactions per month. Additionally, account holders will also receive dedicated support from UOB’s team of FX specialists. This means that any concerns or risks with regards to foreign exchange and transactions can be taken care of by UOB’s team.

Round the clock access to UOB’s digital banking facilities also make this account great for business owners looking to track transactions from other timezones. So, if you’re someone who’s running a mid-sized company, the UOB Singapore Dollar Current Account might be the account for you.

3. Best Corporate Bank Account for the business owners that crave accessibility: DBS Business Digital Account & OCBC Business Growth Account

As two of most popular local banks, these two corporate bank accounts offer unparalleled accessibility in Singapore.

The DBS Business Digital Account provides instant account opening through their online banking platform. Initially, opening a DBS bank account cost S$18 a month. However, potential account holders can now enjoy 6 months of fee waiver—that’s no monthly fees or minimum balances. DBS corproate account holders can also access digital business tools, which are great from streamlining business accounting processes.

Similarly, the OCBC Business Growth Account also offers a wide range of services. With a slew of ATMs and branches scattered islandwide, having an OCBC corporate bank account is definitely a great choice for the out and about business owner.

OCBC charges a low monthly fee of S$10 for its corporate bank account, which is waived for the first 2 months. It also comes with a complimentary business dashboard, collating your transaction information.

Both of these have made it into our list of the best corporate bank accounts because of their convenience, and trustworthiness amongst the Singaporean market.

4. Best corporate account for the digitally-savvy business owner: Aspire Business Account

Now, what if we told you there was a business account that could provide the flexibility of Maybank, and the convenience of DBS and OCBC?

There are several grounds on why Aspire’s Business Account is rising up the ranks amongst SME owners. Its lack of monthly fees and balances to maintain is just one of the reasons why Aspire’s account is fast-becoming one of the best corporate accounts in Singapore.

The Aspire Business Account can be opened, operated, and managed fully online, anytime and anywhere.

If you’re tired of manually tracking your transactions, Aspire has the solution for you. Get automated insights, integrated fully with Xero for on the go business financial details. If you encounter any difficulties, Aspire’s 24/7 customer service is ready to help through the app, Whatsapp, call or email.

Effective and efficient, Aspire helps business owners focus on growing their business strategy.

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Marissa Saini is a seasoned writer and an avid trendspotter across business finance, personal finance, travel and lifestyle industries. With writing history at SingSaver, INK, and ohmyhome, Marissa leverages her broad range of experiences to simplify finance and make readers financially savvy.
Marissa Saini
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Aspire is the all-in-one finance operating system for businesses. Our mission is to empower the next generation of entrepreneurs with the financial tools they need to realise their company’s full potential.
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