OCBC Bank
Don’t Forget to check ASPIRE BANK, voted #1 in Singapore for Corporate Bank this year from our community and expert panel
Who they are
Founded in 1932, OCBC is Singapore’s oldest bank and is consistently recognized as among the World’s Top 50 Safest Banks, the World’s Most Highly-Rated Banks and the Best Managed Banks in Singapore. It is also the second largest financial service group, by assets, in South East Asia. With the headquarter in Singapore, OCBC operates in 18 countries and currently has more than 570 branches around the globe serving over 2.5 million customers.
Main Corporate Services
OCBC has created a variety of business banking accounts to cater to the banking needs of different types of business owners. Each of the following bank accounts come with different key feature:
- Singapore dollar accounts (SGD Accounts) 1. Business Growth Account – designed for new businesses 2. Business Entrepreneur Account – perform more transactions 3. Business Entrepreneur Account Plus – expanding or established businesses
- Foreign Currency Accounts 1. Business Smart Account – initial deposit varies dependent upon the country 2. Foreign Currency Call Account – 8 different currencies; interest if minimum balance maintained
- Business Foreign Account – different currency accounts, for companies incorporated outside of Singapore
Types of SGD Account
| Business Growth Account | Business Entrepreneur Account | Business Entrepreneur Account Plus | |
| Low Initial Deposit: S$500 | Initial Deposit: S$3,000 | Minimum Deposit S$30,000 | |
| No monthly account fee | S$38 monthly. The first three months waived. | No account fees. | |
| Annual fee of $38 | Free first 50 cheques monthly | ||
| No minimum balance for the first 6 months Thereafter, a monthly average balance of S$3,000 |
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Minimum Balance S$30,000 | |
OCBC Bank Summary Review
As a business owner, you might want to monitor the constant flow of money coming in and out. OCBC provides innovative ways of tracking your business transactions with their Velocity@ocbc (business internet and mobile banking solution) and eAlerts@ocbc (SMS/email alerts). Transferring payment within Singapore and overseas You can transfer payment in your preferred currency within OCBC in Singapore, and even transfer in foreign currencies overseas. Plus, you can get your business debit card to make all transactions. If you are new to all the banking terms, getting help is not such a bad idea. OCBC can arrange a meeting with your Relationship Manager for the service of your documents since you will be required to fill in a lot of forms in opening a bank account. Indeed, OCBC Bank is one of the banks where you can entrust your money. After all, being awarded as the Best SME Bank and Best Private Bank for different awarding bodies throughout the years tells a lot about what can they offer to us. If you have had an experience with them, please let us know by leaving a comment on this page.
Don’t Forget to check ASPIRE BANK, voted #1 in Singapore for Corporate Bank this year from our community and expert panel
Speed
0.6
Price
4.6
Products Offering
0.4
Quality of Service
0.4
Price Transparency
0.6
Beware! due to their own internal issue they will close corporate account instantly. No reason given. After read many news, I found out is their own internal security issue where they can protect the account. Surprise they still want SME to open the account in their bank. Don’t trust them….