Singapore bank charges

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cutejesey
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Singapore bank charges

Post by cutejesey » Tue, 28 Feb 2017 9:30 pm

Any suggestion for corporate bank account? My company involve more on wire overseas transactions, would like to seek recommendation. Any recommended bank with low bank charges and service fee?


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ecureilx
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Re: RE: Singapore bank charges

Post by ecureilx » Tue, 28 Feb 2017 10:58 pm

cutejesey wrote:Any suggestion for corporate bank account? My company involve more on wire overseas transactions, would like to seek recommendation. Any recommended bank with low bank charges and service fee?


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Corporate and low charge ? What did I miss ? ;) not with the local banks.

Local banks here seem to be hell bent on milking corporates and delivering extremely poor service.

Example: it took me 3 visits to get a supplier form endorsed by DBS and every time the counter girl who helps issue the queue number reminded me of the long queue and to come back tomorrow, even though I told her I just need the form's bankers details certified.

And another time I was sitting for nearly 1 hour with 500k S$ in another DBS branch, to deposit my company money, and no, no priority even though It's corporate account.

Back home, corporates are given a separate queue, and deposits especially are handled as high priority.

Welcome to Singapore.

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Strong Eagle
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Re: Singapore bank charges

Post by Strong Eagle » Wed, 01 Mar 2017 4:01 am

I used UOB from 2004 through 2014. Getting people setup in online banking was a hassle, requiring paper transactions but the online transaction charges were reasonable. And, I never had to wait very long at the UOB branch on Boat Quay to get service.

DrScrumMaster
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Re: Singapore bank charges

Post by DrScrumMaster » Wed, 01 Mar 2017 8:37 am

MayBank appear to have a low cost business bank account. Though with all such things they may have higher fees in different areas.

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taxico
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Re: Singapore bank charges

Post by taxico » Wed, 01 Mar 2017 10:26 am

i searched this out about half a year ago. this was what i recall:

there's an indian bank with low fees and what looked like rudimentary e-banking access.

they either had 1, 2 or 3 branches (max) in singapore. main/only office in CBD.

can't remember which one. google is your friend.
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ecureilx
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Re: RE: Re: Singapore bank charges

Post by ecureilx » Wed, 01 Mar 2017 4:32 pm

taxico wrote:i searched this out about half a year ago. this was what i recall:

there's an indian bank with low fees and what looked like rudimentary e-banking access.

they either had 1, 2 or 3 branches (max) in singapore. main/only office in CBD.

can't remember which one. google is your friend.
UCO bank is used by a lot of businesses. They are full service bank. And trusted by big businesses..

I hope you didn't mean the State .... horror stories a few abound about the latter Image

cutejesey
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Re: Singapore bank charges

Post by cutejesey » Thu, 02 Mar 2017 10:38 am

Ocbc charged usd43 commission and usd15 agent fee, reasonable?


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Re: Singapore bank charges

Post by Strong Eagle » Thu, 02 Mar 2017 10:42 am

cutejesey wrote:Ocbc charged usd43 commission and usd15 agent fee, reasonable?


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For a wire transfer? That's terrible. How many dollars are you transferring?

cutejesey
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Re: Singapore bank charges

Post by cutejesey » Thu, 02 Mar 2017 6:24 pm

Yes, wire transfer usd1,000

Terrible? Does it means uob lower fee?


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Re: Singapore bank charges

Post by Strong Eagle » Thu, 02 Mar 2017 9:10 pm

cutejesey wrote:Yes, wire transfer usd1,000

Terrible? Does it means uob lower fee?


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http://www.uob.com.sg/online_rates/corp ... tward.html

cutejesey
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Re: Singapore bank charges

Post by cutejesey » Thu, 02 Mar 2017 11:03 pm

Strong Eagle wrote:
cutejesey wrote:Yes, wire transfer usd1,000

Terrible? Does it means uob lower fee?


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http://www.uob.com.sg/online_rates/corp ... tward.html
Thank you for the useful information


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maneo
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Re: RE: Singapore bank charges

Post by maneo » Fri, 03 Mar 2017 12:17 am

ecureilx wrote:Back home, corporates are given a separate queue, and deposits especially are handled as high priority.
OCBC branches have separate business banking queues.
The MBFC branch is usually a quick stop.

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ecureilx
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Re: RE: Re: RE: Singapore bank charges

Post by ecureilx » Fri, 03 Mar 2017 12:33 am

maneo wrote:
ecureilx wrote:Back home, corporates are given a separate queue, and deposits especially are handled as high priority.
OCBC branches have separate business banking queues.
The MBFC branch is usually a quick stop.
Maybe it's Just DBS doesn't care about their captive market

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maneo
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Re: RE: Re: RE: Singapore bank charges

Post by maneo » Fri, 03 Mar 2017 12:37 am

ecureilx wrote:Maybe it's Just DBS doesn't care about their captive market
Always thought that DBS stood for Dismal Banking Service.
:P

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Strong Eagle
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Re: RE: Singapore bank charges

Post by Strong Eagle » Fri, 03 Mar 2017 2:03 am

maneo wrote:
ecureilx wrote:Back home, corporates are given a separate queue, and deposits especially are handled as high priority.
OCBC branches have separate business banking queues.
The MBFC branch is usually a quick stop.
So does UOB.

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