DBS Social Enterprise Package

In 2008, DBS launched DBS Social Enterprise Package which is specially tailored to the social enterprises, in support of the growth of social entrepreneurship in Singapore. First of its kind in the banking industry, DBS Social Enterprise Package offers social enterprises fee waivers and other attractive benefits for a slew of transactional banking facilities, making it easy and affordable for social enterprises to bank with us.
Sign up for DBS Social Enterprise Package and enjoy virtually free banking services:

1. Privileges for Transactional Banking Services
    

   Waiver of:

   • DBS IDEAL™ set-up fee (worth SGD 30)
   • DBS IDEAL™ monthly subscription fee (worth SGD 30)
   • DBS e-Advice monthly subscription fee (worth SGD 20)

   FREE:

   • Inward Telegraphic Transfer (worth SGD 10)
   • 2 Outward Telegraphic Transfers per month via DBS IDEAL™
   • 20 GIRO payments / collections per month via DBS IDEAL™
   • 30 cheques per month

   Preferential rates:

   • Via DBS IDEAL™ (Corporate Internet Banking)
   • Flat rate of SGD 20 for Outward Telegraphic Transfer
   • Flat rate of SGD 10 for MAS Electronic Payment System (MEPS)
   • GIRO payment/collection at 10 cents per transaction
2. Privileges for Corporate Current Account
   • Minimum initial deposit of SGD 1,000 (usual SGD 3,000)
   • Monthly minimum balance of SGD 5,000 (usual SGD 10,000)*
     ^{* A fall below fee of SGD 15 is applicable if minimum monthly balance falls below SGD 5,000.}

Speak to us to find out more about the DBS Social Enterprise Package today!

What are social enterprises?
Types of social enterprises?
DBS' involvement in the social enterprise community

What are social enterprises?

Social enterprises (SE) are not charity organisations. They operate like commercial companies but go beyond generating profits as they utilise their business principles to create revenue while fulfilling social causes. In short, social enterprises exist with double or even triple bottom lines, namely social, financial and environmental.

Social enterprises can be incorporated in different forms, such as private companies, companies limited by guarantee, limited liability partnerships or cooperatives.

Types of social enterprises

There are generally 4 types of social enterprises in Singapore, although most social enterprises typically adopt a combination of these models:

• Work integration model

The Work Integration Social Enterprises (WISEs) provide skills training and/or employment opportunities to the needy disadvantaged (i.e. those who have higher than usual barriers to employment, such as ex-offenders) as a way to reintegrate them into the society and encourage them to be self-reliant.

• Plough-back-profit model

The objective of social enterprises is to generate profits to fund the social programmes of their affiliated or parent charities. This helps Voluntary Welfare Organisations (VWOs) or charities to reduce their reliance on donations and enhance their financial sustainability.

• Subsidised services model

Social enterprises which adopt this model usually provide subsidised services to the needy and/or disadvantaged clients, and charge commercial rates to mainstream customers. This ensures that the people who could not usually afford certain services have access to such services to improve the quality of their lives.

• Social needs model

These social enterprises are designed to serve social needs or address certain social issues which can include community bonding, family bonding and racial harmony.