Choosing the right business bank account can save startups and SMEs time and money. Here’s a comparison of the most popular options for small and growing businesses in Singapore.
What Startups Should Look For
- Low minimum deposit
- Free online transfers
- Multi-currency support
- Integration with accounting platforms
Top Business Bank Accounts
- OCBC Business Growth Account $0 minimum balance for 1st 6 months Free FAST transfers
- DBS Starter Digital Account Fully online setup Free Xero integration
- UOB eBusiness Account 24/7 online approval (for eligible entities) Scalable fee structure
Things to Avoid
- Hidden fees on foreign transfers
- Low monthly transaction caps
- Paper-based processes
FAQ:
Q1: Which account has the lowest fees?
A: OCBC and DBS both offer startup-friendly fee waivers.
Q2: Do these accounts support PayNow Corporate?
A: Yes, all major business accounts support it.
User Comments:
“OCBC made it so easy to launch our online business.” — Vanessa L.
“DBS’s dashboard is very startup-friendly. Perfect for early-stage.” — Joel T.
Editor’s Note:
Don’t just go with the biggest name—compare features carefully. Many banks now compete for SME loyalty.
Tags: best-business-account, sme-banking, startup-finance, banking-comparison
About the Author
Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source.
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