1. Maybank FlexiBiz Account
Minimum Initial Deposit $1,000
Annual Account Service Fee $0
Monthly Fall Below Fee $0
Annual Cost = $0 + ($0 x 12) = $0
FAST Funds Transfer Fee = 20 cents per transfer
http://info.maybank2u.com.sg/business/deposits-banking/current/flexibiz.aspx
What is the catch? You need to pay 50 cents for each issued cheque.
2. UOB E-Business Account
Minimum Initial Deposit = $1,000
Annual Account Service Fee = $0
Monthly Fall Below Fee = $15 (if below $5,000)
Annual Cost = $0 + (15 x 12) = $180
FAST Funds Transfer Fee = $5 per transfer
http://www.uob.com.sg/corporate/corporate/deposits/eBusiness_account.html
http://www.uob.com.sg/online_rates/corporate/general_service_fees_part1.html?s_pid=HOME201205_eg_quicklnk_ql4
What is the catch? You need to pay $20 if depositing or withdrawing money over the counter. FAST fee of $5.
3. DBS Entrepreneurs Account
Minimum Initial Deposit = $500
Annual Account Service Fee = $40
Monthly Fall Below Fee = $35 (if below $10,000)
Annual Cost = $40 + ($35 x 12) = $460
FAST Funds Transfer Fee = $5 per transfer
http://www.dbs.com.sg/sme/day-to-day/accounts/entrepreneurs-account-for-start-ups.page
https://www.dbs.com.sg/iwov-resources/forms/cash/payments/Pricing%20Guide%20(all%20product%20details%20pages).pdf
Waiver of Monthly Fall Below Fee for the first 6 months.
What is the catch? Expensive monthly fall below fee kicking in after 6 months. FAST fee of $5.
4. OCBC Business First Account
Minimum Initial Deposit = $3,000
Monthly Account Service Fee = $38
Monthly Fall Below Fee = $35 (if below $5,000)
Annual Cost = ($38 x 12) + ($35 x 12) = $876
FAST Funds Transfer Fee = $5 per transfer
http://www.ocbc.com/assets/pdf/BizBkgPricingGuide.pdf
Waiver of Monthly Account Service Fee and Monthly Fall Below Fee for the first 3 months.
What is the catch? Expensive monthly account service fee and fall below fee. FAST fee of $5.