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Low cost to Maintain Business Banking Account
Posted: Sat, 16 Jun 2012 6:10 am
by whitehorseq
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
Re: Low cost to Maintain Business Banking Account
Posted: Sat, 16 Jun 2012 10:00 am
by New_Global_Trader
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
Posted: Sat, 16 Jun 2012 5:08 pm
by whitehorseq
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 $0.50
Posted: Sat, 16 Jun 2012 6:00 pm
by New_Global_Trader
Hi.
Its a good one too.
In OCBC you get free cheques for 2 yrs, and 30 cheques free every month from 3rs year onward. So better deposit 500 S$ in OCBC, and start your business.
Regards
RG
Posted: Sun, 17 Jun 2012 12:23 am
by whitehorseq
New_Global_Trader wrote:
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$25 applies
Posted: Sun, 17 Jun 2012 1:36 am
by New_Global_Trader
whitehorseq wrote:New_Global_Trader wrote:
Hi.
Its a good one too.
In OCBC you get free cheques for 2 yrs, and 30 cheques free every month from 3rs year onward. So better deposit 500 S$ 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.