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Business Account Singapore
Looking for the best business account in Singapore? Look no further! We have compiled a list of the top 7 business account Singapore for you. These accounts are perfect for small businesses and entrepreneurs who are looking to streamline their finances and grow their businesses. So, what are you waiting for? Read on to find out more about these amazing business accounts!
1) Spenmo
Image Credit: Spenmo.com
| Key Service | Invoice approval workflows |
| Address | 20 Anson Road #11-01, Singapore 079912 |
| Website | https://spenmo.com/ |
| Phone | NIL |
| hello@spenmo.com | |
| Operating Hours | NIL |
Spenmo recognizes that each company has its own spending habits, which is why they provide a platform that is tailored to your unique requirements and preferences when it comes to corporate expenditures.
With Spenmo, you can use an all-in-one approach that extracts and uploads bill data, processes employee claims and payroll, and automates payments. They automate all the tedious task so company owners and their staff may focus on elements of the business that are more worthwhile.
Key Differentiators:
- Automated invoice payments and bank transfers
- Instant access to unlimited virtual and physical corporate cards
- Invoice approval workflows
2) Standard Chartered Smart Business$aver Account
Image Credit: sc.com.sg
| Key Service | Two different types of interest in one account |
| Address | Blk, 87 Marine Parade Central, #01-500, Singapore 440087, Singapore 440087 |
| Website | https://www.sc.com/sg/business/ |
| Phone | |
| NIL | |
| Operating Hours | Mon to Fri 10 AM to 5 PM |
Standard Chartered is one of the best banks in Singapore if you need to serve all of your financial requirements. It offers among the most competitive interest rates, with p.a. rates ranging from 1.68 to 2.4 percent depending on your term length and deposit amount.
Standard Chartered has two distinct types of interest in Singapore, as well as additional features that distinguish it from other company accounts. With Smart Bussiness$aver, you may get the benefits of a standard banking account plus specialized services such as payroll, credits, foreign exchange, cash management, insurance, and lending.
Key Differentiators:
- Two different types of interest in one account
- Various additional financial services in one account
- Low remittance costs
3) ICBC Business Banking
ICBC Business Banking – Business Account Singapore
Image Credit: ocbc.com
| Key Service | Cost-effective and sustainable loans for SMEs |
| Address | Location |
| Website | https://www.ocbc.com/ |
| Phone | +65 6363 3333 |
| Location | |
| Operating Hours | Location |
OCBC is a major bank in Singapore that caters to both large corporations and small companies. This business offers more than simply a storage facility for your company funds; it also includes merchant services, trading, and investment banking.
With such a feature and its experience in the field as well as regular market research, OCBC is committed to assisting its customers in improving their finances. It also offers credits to support initiatives. Another wonderful thing about OCBC is its vast industry expertise. So it can provide the same level of services to a variety of fields, including healthcare, energy, real estate, technology, and others.
Key Differentiators:
- Cost-effective and sustainable loans for SMEs
- Unparalleled experience across all types of industries
- Up-to-date market research for investment growths
4) Aspire Digital Business Account
Image Credit: aspireapp.com
| Key Service | Compatible with third-party accounting apps |
| Address | Singapore |
| Website | https://sg.aspireapp.com/ |
| Phone | +65 3165 1500 |
| support@aspireapp.com | |
| Operating Hours | Mon to Fri 9:30 AM to 5:30 PM |
The Aspire Digital Business Account delivers cutting-edge financial services in a highly flexible and adaptable manner. It provides a simple, practical, secure, and convenient digital account through which businesses may send and receive money instantly, anytime, and anywhere.
The Aspire digital business account allows for easy management of expenses across multiple users. Additionally, Aspire provides a monthly spending limit option to guarantee that organizations stay within budget. It also places a premium on transparency, so there are no annual or quarterly fees. As a result, Aspire is an excellent choice for small and medium-sized enterprises (SMEs).
Key Differentiators:
- Compatible with third-party accounting apps
- Easy signup with no minimum deposit
- Transparent and convenient international transfers
Customer’s Review:
Have been using Aspire as my business banking partner and support has been very prompt and good. Highly recommend using Aspire for your banking needs. Hana J. Owens
5) HSBC Business Account
Image Credit: hsbc.com
| Key Service | Applicable for multinational and expanding companies |
| Address | 68 Orchard Road 01-60, Plaza, Singapore 238839 |
| Website | https://www.business.hsbc.com.sg/ |
| Phone | 1800 216 9008 |
| Contact | |
| Operating Hours | Mon to Fri 9:30 AM to 3:30 PM |
HSBC may be the oldest and most experienced among Singapore’s banks, having served the country for 140 years. It can serve small businesses and big corporations with its many services.
HSBC is a worldwide bank that can help you expand your business across borders. It has branches in over 53 countries, so it’s great for clients wanting to develop their international presence. It also caters to nine other major currencies to limit any foreign exchange expenses. The bank is well known for its excellent customer service, which includes several hotlines to cater to a wide range of clients while still taking care of others.
Key Differentiators:
- 24/7 online banking and paperless transactions
- Applicable for multinational and expanding companies
- 3-month fee waiver for first-time business accounts
6) Volopay Smart Business Account and Corporate Cards
Image Credit: volopay.co
| Key Service | Expense management software |
| Address | 152 Beach Rd, #28-00 Gateway East, Singapore 189721 |
| Website | https://www.volopay.co/sg/lp/business-account/best-in-singapore |
| Phone | +65 96236599 |
| NIL | |
| Operating Hours | Mon to Fri 8 AM to 8 PM |
Volopay is a single platform that offers payment cards, credit lines, money transfers, and accounting automation to small businesses.
Using this platform, contemporary businesses of all sizes may get upto 2% cashback on all of their FX transactions and save money every day as opposed to traditional business bank accounts. We’ve included them on the list because Volopay allows you to set up individual payment cards for your workers, create strategic budgets, allocate cash, establish approval procedures, and sync all of your expenses into your accounting software.
Key Differentiators:
- No annual fees or minimum spend
- Employee reimbursement tool included
- Expense management software
7) DBS Business Account
Image Credit: dbs.com
| Key Service | Wide range of corporate solutions |
| Address | 68 Orchard Rd, #B1-25 Plaza, Singapore 238839 |
| Website | https://www.dbs.com.sg/ |
| Phone | 1800 222 2200 | +65 6222 2200 |
| NIL | |
| Operating Hours | Mon to Fri 10 AM to 5:30 PM |
DBS could be a good alternative if you’re searching for the finest company accounts in Singapore that are available everywhere, including physically. This is one of Singapore’s major business banks, with 900 ATMs on the island alone.
It also has a digital and mobile app to make its services more accessible. Despite this accessibility, some consumers still complain about the lack of customer support. Fortunately, DBS uses KYC platforms to guarantee quick and efficient transactions. This function is recognized for improving security and lowering identity theft, financial fraud, and money laundering risks.
Key Differentiators:
- KYC registry for seamless transactions and added security
- Wide range of corporate solutions
- Highly-accessible services
Customer’s Review:
I’ve had great experience resolving an issue with Faizal of this branch. He was fairly proactive not just to myself but to a few other clients as well.
William Tan
Business Account Singapore
All of the business accounts in Singapore we’ve listed offer something unique and valuable to their customers. Whether you’re looking for a bank with excellent customer service or one that caters to multinational businesses, there’s an option out there for you. Make sure to do your research and find the business account Singapore that best suits the needs of your company. Thanks for reading!
Looking for more interesting articles to read? Check out some more of our blog posts here:
- Best Financial Advisors in Sydney (2024)
- Best Financial Advisors in Melbourne (2024)
- Best Robo Advisors in Singapore (2024)
- Best Financial Advisors in Malaysia (2024)
What is a Business Account?
A Business account is a type of bank account that is designed specifically for businesses. Business accounts typically offer a number of features and benefits that are not available with personal bank accounts, such as specialised banking services, higher transaction limits, and lower fees.
What are the benefits of starting a Business Account?
There are a number of benefits that come with starting a Business account. Businesses can enjoy specialised banking services, higher transaction limits, and lower fees. Additionally, Business accounts can help businesses manage their finances more effectively and efficiently.
How much does it cost to start a Business Account in Singapore?
The cost of starting a Business account in Singapore can vary depending on the bank and the type of account you choose. However, most Business accounts come with a monthly fee that ranges from $20 to $50.
How do you start a Business Account in Singapore?
Starting a Business account in Singapore is relatively easy. You will need to visit your chosen bank’s website and fill out an application form. Once you have submitted your application, you will typically need to provide some documentation, such as your business registration number and proof of identity. After your account has been approved, you will be able to start using it immediately.
