Opening a DBS Corporate Account
It is very simple to open a DBS corporate account, simple to transact, and simple to maintain. You can open your DBS Corporate account at the physical branches present all across Singapore or you can open an online DBS corporate bank account.
To open a DBS corporate account online, all you need is your DBS iBanking information for logging in or your ATM/debit card and a Personal Identification Number (PIN). You also need a Business Registration number from ACRA if you own a sole proprietorship company. However, if your company is a partnership or has many directors, in addition to the company Business Registration Number from ACRA, you will need details of all signatories and their business documents.
The next step is the verification of your documents and business details via a phone call or video call.
Types of DBS Corporate Account
DBS Business Digital Account
This type of corporate account is suitable for businesses that just want a simple business account. You need an initial deposit of S$1,000. DBS Business Digital Account attracts no minimum account balance but has a monthly maintenance fee of S$18. With this type of bank account, you can only deal with Singaporean currency.
DBS Corporate Multi-Currency Account
Unlike the Business Digital account, the DBS Corporate Multi-currency account comes with a minimum opening deposit of S$3,000 and a daily minimum account balance of S$10,000. If your balance goes below S$10,000, you will be charged a transaction fee of S$35. However, if your daily average balance is above S$30,000 you will not be charged any transaction fee related to clearing bank cheques.