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Low cost to Maintain Business Banking Account

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whitehorseq
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Low cost to Maintain Business Banking Account

Postby whitehorseq » Sat, 16 Jun 2012 6:10 am

Hi,

I understand to open Business Banking Account we need SGD $10K opening Balance and If monthly average balance falls below SGD $10K a minimum monthly fee of SGD $25 is imposed.

What Bank you guys are using?
Any Bank with low cost monthly fee?


Thanks :)

New_Global_Trader
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Joined: Thu, 01 Apr 2010
Location: India

Re: Low cost to Maintain Business Banking Account

Postby New_Global_Trader » Sat, 16 Jun 2012 10:00 am

whitehorseq wrote:Hi,

I understand to open Business Banking Account we need SGD $10K opening Balance and If monthly average balance falls below SGD $10K a minimum monthly fee of SGD $25 is imposed.

What Bank you guys are using?
Any Bank with low cost monthly fee?


Thanks :)


Hi.

If your company is newly registered (less than 6 months), you should open a OCBC bank account.

http://ocbc.com/business-banking/accoun ... count.html

No Balance requirement for 6 months.
ATM & checkbook on the spot.
Initial 500 S$ deposit only.
Account service fee - 30 S$ per year
25-30 S$ for the security device (all banks charge this).
If you activate the alert service, 3 months free, then 20-25 S$ per month.

Regards

whitehorseq
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Posts: 12
Joined: Sun, 13 Aug 2006

Postby whitehorseq » Sat, 16 Jun 2012 5:08 pm

Thanks New_Global_Trader


I saw Maybank has an attractive offer for startups.

http://info.maybank2u.com.sg/business/d ... xibiz.aspx


Initial account opening S$10K required

No Minimum balance
No Service fee
For cheque $0.50

New_Global_Trader
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Posts: 31
Joined: Thu, 01 Apr 2010
Location: India

Postby New_Global_Trader » Sat, 16 Jun 2012 6:00 pm

whitehorseq wrote:Thanks New_Global_Trader


I saw Maybank has an attractive offer for startups.

http://info.maybank2u.com.sg/business/d ... xibiz.aspx


Initial account opening S$10K required

No Minimum balance
No Service fee
For cheque $0.50


Hi.

Its a good one too.
In OCBC you get free cheques for 2 yrs, and 30 cheques free every month from 3rs year onward. So better deposit 500 S$ in OCBC, and start your business.

Regards
RG

whitehorseq
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Posts: 12
Joined: Sun, 13 Aug 2006

Postby whitehorseq » Sun, 17 Jun 2012 12:23 am

New_Global_Trader wrote:
whitehorseq wrote:Thanks New_Global_Trader


I saw Maybank has an attractive offer for startups.

http://info.maybank2u.com.sg/business/d ... xibiz.aspx


Initial account opening S$10K required

No Minimum balance
No Service fee
For cheque $0.50


Hi.

Its a good one too.
In OCBC you get free cheques for 2 yrs, and 30 cheques free every month from 3rs year onward. So better deposit 500 S$ in OCBC, and start your business.

Regards
RG



You have missed one point. Here is the extract from OCBC website.

Code: Select all

Min. monthly avg. balance

S$0 for the first 6 months
S$8,000 from the 7th month onwards, otherwise a fee of S$25 applies

New_Global_Trader
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Member
Posts: 31
Joined: Thu, 01 Apr 2010
Location: India

Postby New_Global_Trader » Sun, 17 Jun 2012 1:36 am

whitehorseq wrote:
New_Global_Trader wrote:
whitehorseq wrote:Thanks New_Global_Trader


I saw Maybank has an attractive offer for startups.

http://info.maybank2u.com.sg/business/d ... xibiz.aspx


Initial account opening S$10K required

No Minimum balance
No Service fee
For cheque $0.50


Hi.

Its a good one too.
In OCBC you get free cheques for 2 yrs, and 30 cheques free every month from 3rs year onward. So better deposit 500 S$ in OCBC, and start your business.

Regards
RG



You have missed one point. Here is the extract from OCBC website.

Code: Select all

Min. monthly avg. balance

S$0 for the first 6 months
S$8,000 from the 7th month onwards, otherwise a fee of S$25 applies


No, I have mentioned this point in my first message.


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