{"id":2416,"date":"2024-01-25T11:21:40","date_gmt":"2024-01-25T03:21:40","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/?page_id=2416"},"modified":"2026-06-19T16:23:11","modified_gmt":"2026-06-19T08:23:11","slug":"comparison-local-banks","status":"publish","type":"page","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/services\/company-setup\/guide-for-opening-corporate-bank-account\/comparison-local-banks\/","title":{"rendered":"Comparison of Local banks"},"content":{"rendered":"

[vc_row][vc_column][vc_column_text]<\/p>\n

Features of Comparison of local banks in Singapore \u2013 DBS, OCBC, UOB<\/h2>\n

\"ComparisonThis chart provides a side-by-side comparison of the features of the Singapore Company bank account with the three local banks (DBS, OCBC, UOB) in Singapore.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Feature<\/strong><\/td>\nOCBC<\/strong><\/td>\nDBS<\/strong><\/td>\nUOB<\/strong><\/td>\n<\/tr>\n
Can the account be opened without being physically present in Singapore?<\/td>\nYes, subject to the following:
\n– A phone interview, for KYC purposes.
\n– Signature & Passport verification will need to be done at an overseas OCBC branch or witnessed by a notary public and legalize at Singapore Embassy (if no branch is available in your country)<\/td>\n		Yes, subject to the following:
\n– A written confirmation on the information of the Company, for KYC purposes.
\n– Signature & Passport verification will need to be done at an overseas DBS branch or witnessed by a notary public and legalize at Singapore Embassy (if no branch is available in your country)<\/td>\n		Physical presence in Singapore is required.<\/td>\n<\/tr>\n
Setup fee<\/td>\nNo<\/td>\nNo<\/td>\nNo<\/td>\n<\/tr>\n
Singapore Dollar Current Account<\/strong><\/td>\n<\/tr>\n
Initial Deposit for SGD account<\/td>\n$3,000<\/td>\n$3,000<\/td>\n$1,000<\/td>\n<\/tr>\n
Minimum balance required<\/td>\nFor first 6 months, no minimum balance is required. Subsequently, $35 service fee is chargeable if average monthly balance falls below SGD 5,000.<\/td>\n$25 service fee is chargeable if average monthly balance falls below SGD 8,000.<\/td>\n$35 service fee is chargeable if average monthly balance falls below SGD 10,000.<\/td>\n<\/tr>\n
Cheque book<\/td>\n$0.50 per cheque. First 30 cheques is free for each month.<\/td>\n$0.50 per cheque. First 30 cheques is free for each month.<\/td>\n$0.50 per cheque. First 30 cheques is free for each month.<\/td>\n<\/tr>\n
Internet banking & Monthly Account Fee<\/td>\nMonthly account fee is S$38 per month. Waived for first 3 months.<\/p>\n

Free bundled package via Velocity@ocbc
\n– 200 GIRO transactions
\n– 20 FAST transactions
\n– 2 outward telegraphic transfers<\/p>\n

Looking for account with no monthly account fee, please see pricing guide<\/a> for the details.<\/td>\n

Free 5 token upon account signup. $30 per setup. Additional token(s) is chargeable at S$20 each.<\/p>\n

S$30 per month For transaction & enquiry with DBS IDEAL\u2122 ELECTRONIC BANKING<\/td>\n

Yes. Enquiries, local payments, overseas payments. No max transaction amount limit (customer set a lower limit is allowed).
\nService charges is at $20 per month<\/td>\n<\/tr>\n
Foreign Currency Account \u2013 USD account<\/strong><\/td>\n<\/tr>\n
Initial deposit<\/td>\nUS$500<\/td>\nUS$1,000<\/td>\nUS$1,000<\/td>\n<\/tr>\n
Minimum balance<\/td>\nWaived for 1st 6 months. Thereafter, US$15 per month if monthly average balance falls below US$1,000.<\/td>\nUS$10 service fee is chargeable if average monthly balance falls below US$1,000.<\/td>\nUS$15 service fee is chargeable if average monthly balance falls below US$1,000.<\/td>\n<\/tr>\n
Cheque book<\/td>\nAvailable<\/td>\nAvailable<\/td>\nAvailable<\/td>\n<\/tr>\n
Internet banking<\/td>\nYes. Enquiries, local payments, overseas payments. No max transaction amount limit (customer set a lower limit is allowed).<\/td>\nYes. Enquiries, local payments, overseas payments. No max transaction amount limit (customer set a lower limit is allowed).<\/td>\nYes. Enquiries, local payments, overseas payments. No max transaction amount limit (customer set a lower limit is allowed).<\/td>\n<\/tr>\n
OTHER INFORMATION<\/strong><\/td>\n<\/tr>\n
Foreign currency account availability<\/td>\nBoth current account and fixed deposit account available in major currencies<\/td>\nBoth current account and fixed deposit account available in major currencies<\/td>\nBoth current account and fixed deposit account available in major currencies<\/td>\n<\/tr>\n
Business Insurance<\/td>\nYes<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n
Other facilities such as<\/p>\n

Future contract, currency swap, business loan, Account payable services, Account receivable services, Trade finance services<\/td>\n

Yes<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

[\/vc_column_text][\/vc_column][\/vc_row][vc_row row_title=”Author Card”][vc_column][vc_row_inner css=”.vc_custom_1730870221717{background-color: #126742 !important;border-radius: 5px !important;border-color: #EEEEEE !important;}”][vc_column_inner][vc_column_text css=””]<\/p>\n

<\/p>\n
\n

\"Abigail<\/p>\n

\n

Abigail Yu<\/p>\n

Author<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Abigail Yu oversees executive leadership at 3E Accounting Group, leading operations, IT solutions, public relations, and digital marketing to drive business success. She holds an honors degree in Communication and New Media from the National University of Singapore and is highly skilled in crisis management, financial communication, and corporate communications.<\/p>\n

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[vc_row][vc_column][vc_column_text] Features of Comparison of local banks in Singapore \u2013 DBS, OCBC, UOB This chart provides a side-by-side comparison of the features of the Singapore Company bank account with the three local banks (DBS, OCBC, UOB) in Singapore. Feature OCBC DBS UOB Can the account be opened without being physically present in Singapore? Yes, subject…<\/p>\n","protected":false},"author":22,"featured_media":72981,"parent":1330,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[2,27],"class_list":["post-2416","page","type-page","status-publish","has-post-thumbnail","category-start-a-singapore-company","category-three-post-display-on-home-page","description-off"],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/2416","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/users\/22"}],"replies":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/comments?post=2416"}],"version-history":[{"count":2,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/2416\/revisions"}],"predecessor-version":[{"id":106607,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/2416\/revisions\/106607"}],"up":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/pages\/1330"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media\/72981"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/media?parent=2416"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/www.3ecpa.com.sg\/wp-json\/wp\/v2\/categories?post=2416"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}