10 replies on “ Best Business Bank Accounts in Singapore: DBS, OCBC, or UOB? ”
  1. DBS has indeed the best digital banking account. The virtual token is a game changer for busy entrepreneurs whom are always on the go. With the virtual token, company’s accounts can easily be accessed and transactions created anywhere as long as mobile phone has connectivity. In terms of UX, there’s not 1 bank that has a huge differentiating factor but DBS does indeed have a slight edge. Aside from banking accounts, DBS is also an innovator on business financing as the first bank to deploy online application. SMEs can also compare all 3 local banks business loans features: https://smeloan.sg/blog/compare-singapore-banks-business-loan

    1. Thanks for the share, Ben! Indeed, DBS’s virtual token is a game changer. Many companies these days also operate from remote locations (in other countries), so that feature has definitely helped.

  2. I got a terrible experience with DBS business bank account opening. The response is slow and after 2 weeks, they are still asking the supporting documents. The service is lousy.

    1. We’re sorry to hear that, Lily. We didn’t have the same bad experience as you when opening our account, though we would agree with you that 2 weeks is a long wait. Our post is more focused on the User Interface of their system, highlighting the digital traits when comparing the 3 banks. Of course, it is an opinionated viewpoint (and only our viewpoint). We hope you have gotten your bank account opened by now.

  3. We started out with DBS when we launched our business and never had regrets. Despite of one thing: the nearby branch is always overrun no matter what time of day you hit the queue.

    1. Hiya Lis, we’re glad things are working out well with DBS. As for the long lines, we’d recommend doing as much as possible on their online platform. Otherwise, some quality reading material to while the time away 🙁

  4. Hi all, I recently have a bad experience with UOB corporate account and the staff in head office. I got my account closed due to negative fund occur by a fall-below fee, mthly fee & annual fee in last yr December. This happened when my family member got hospitalise and had not been active in my business for that couple of mth. Even the letter from UOB been hanging in my letterbox for mth without aware of. Now my family member is getting better and ready to get back to my desk and work. When I login into the UOB online banking, Then I realise my BIB plus have no account display. Therefore I went down to UOB branch, they request me to write in Memorandum as said to reinstate the account and attention to branch manager to approve. After a week, a called came but sad the staff told me the letter was rejected bcos of negative funds incurred. I was surprised to hear that, I thought it supposes goes higher level to approve not the staff. since my first visit to UOB branch the staff told me the same message too. So what the point of me writing a memorandum and still not approve? And still can tell me whether want to ask special request for reopening another new UOB account via approval. Which mean if I don’t ask this request I may ban from opening an account from UOB in future?? What nonsense! Must as well jump to DBS better since the recommendation above were all about DBS…

  5. Hi. I opened an OCBC account after considering fees and all.
    UOB seems the best in terms of fees, though it won’t offer you a debit card which is very important.
    So far I am happy with OCBC. The account opening procedures were smooth and comfortable.
    This website gave me good information to chose a best bank! I would like to share this info in my blog. May I put the link?

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