Singapore offers a wide range of banks catering to SMEs. The top choices include DBS, OCBC, UOB, and digital options like Aspire and ANEXT.
DBS is popular for its online banking tools and wide network. OCBC offers flexible multicurrency accounts, while UOB focuses on trade finance and regional reach. Digital banks offer quick setup and lower fees, suitable for newer startups.
When choosing a bank, consider transaction costs, integration with accounting tools, minimum balance requirements, and access to financing.
FAQs:
Q: Can SMEs access government grants via these accounts?
A: Yes, accounts with local banks are often used for grant disbursement and loan applications.
User Comments:
- “Aspire was perfect for our e-commerce startup—no paperwork or hidden fees.”
- “DBS IDEAL platform helped us manage cash flow better.”
Editor’s Note:
Different banks serve different business models—compare beyond just fees.
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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