Business Entrepreneur Account
Because it should be this easy
for new businesses
- Low initial deposit of S$500
- No minimum balance fee for the first 6 months
- Instant account opening with cheque book issued on the spot
- Personalised Business Debit Card with lifetime waiver of annual fees
Eligibility
- Businesses incorporated for no more than 6 months
Account fees & charges
Initial deposit
Min. monthly avg. balance
S$8,000 from the 7th month onwards, otherwise a fee of S$25 applies
Cheques
Detailed fees & charges
Account service fee | S$40 a year. This S$40 annual account service fee will be reflected in your second business account statement from date of account opening and every subsequent year thereafter. |
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Cheques | Free for first 2 years. From third year onwards, first 30 cheques every month are free, and every subsequent cheque is S$0.50. |
Transfer funds locally (GIRO) | S$0.10 for first 2 years via Velocity@ocbc (business internet banking) |
*The Business Entrepreneur Account will be automatically converted to a SGD Business Account after 2 years. | The following charges will apply:
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Manage & monitor your transactions easily
Velocity@ocbc (business internet banking)
- Access your account information
- Make payments and collections
- Manage your trade activities
eAlerts@ocbc
Be alerted via SMS or email for
- Account balances and transactions
- Incoming and outgoing funds
- Funds top-up
- Trade transaction status
- Free for first 3 months
Hassle-free payments & services
Business Debit Card with your company logo
- Personalised debit card with your company logo
- Convenience of MasterCard and NETS transactions
- Enjoy OCBC card promotions
- LIfetime waiver of annual fees
Local transfers and payments
Choose from a variety of methods to expedite transfers or payments locally.
Foreign currency transfers
Transfer money overseas in foreign currencies at a lower cost with demand draft, or choose telegraphic transfer for faster processing.
Cheque deposit boxes (outside branches)
Get greater convenience of depositing your cheques at selected petrol stations and industrial parks across the island.
See map view
See list
Receiving payments
Daily cheque collection and same-day processing
Let OCBC handle your cheque collection by receiving cheques at your designated post office box for same-day processing.
Accept card payments
Partner with OCBC as a merchant. We process your Visa and MasterCard transactions with competitive fees and quick payment service.
Receive scheduled GIRO payments
Set scheduled payments from your customers’ account via interbank GIRO direct debiting.
Wide network of branches
55 branches island-wide
Full Sunday banking service
View business & trade service centres
Our dedicated staff at 6 business centres and 4 trade service centres will help you with all your business and trade service needs.
Instant account opening at our branches
Important notices
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Deposit insurance scheme
Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$50,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
- Business Account Terms and Conditions
- OCBC Business Card Agreement
