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
Sorry to say i had terrible experience.i went to branch at city square to open a corporate account and was told to fix and appoinment with staff and i fix appoinment for next day.The next day appoinment staff came more then half an hour late but anyways after filling my application form and giving him all the necesary document i was told it will take 5 days for account opening.i waited for 12 days with no update and when i message the staff asking for status of account there was no reply then i made phone call to staff to check and was shocked to know that application was still under process.terrible experience and i am a local not foreigner
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the team is shit , shit really you open 2 counters open during peak period when it was going to be on my turn the next i still need to wait another 1 hr please la tell your people speed up the speed , and everytime no coiins shit really