Cash and Accounts

DBS Educator’s Account

Get started with very little time and effort

Designed specially to meet the day to day transactional banking needs of your educational business, the DBS Educator’s Account will enable you to focus on providing the best-in-class service to your students. Banking is our specialty, education is yours.

 

Why choose DBS Educator’s Account?

  • Benefit from the experience of our team of Education Specialists. DBS is the first local bank to offer an account specially customised for the education sector
  • Enjoy lower costs and complimentary add-ons for essential day to day transactional services
  • View and efficiently manage your payments and collections electronically via our online platform, IDEAL
  • Enjoy the easy migration of existing operation accounts to us, including a seamless transfer of existing payment and collection arrangements

Product Details

ItemPricing

Minimum initial deposit

SGD 3,000

Minimum average balance per month

SGD 10,000

Fall below fee

SGD 35

IDEAL setup fees

Waived

IDEAL monthly subscription fees

SGD 30

GIRO via IDEAL

1 year free

DBS Business Advance Card

2 years waiver of annual fees

PayDay! SaaS - Cloud Payroll Solution

1 year free subscription

To qualify for the DBS Educator’s Account, your organisation must be in the business of providing education, enrichment or corporate training services. Examples of such organizations :

  • Preschool - Infant Care, Child Care, Kindergartens
  • Tertiary – Private Education Institutions, International Schools, Preparatory & Boarding Schools
  • Primary & Secondary Schools, Junior Colleges
  • Enrichment &Tutorial Centres, Corporate Training & Executive Education

 

FAQs

How do I switch from my existing bank to DBS?

Switching to us will be a hassle-free process. We have put together a list of where you can find the commonly used GIRO authorisation forms for your perusal:

You may also contact our cash management specialist at gtssales@dbs.com for assistance.

What documents are required to open an account?

Please refer to our checklist for the list of documents required.

What currencies are available for the DBS Educator’s Account?

We offer the DBS Educator's Account in SGD only. However, we also offer 13 other currencies with our Business Account. Please refer to the Business Account page for more details.

Is it compulsory for me to use all of the products or services in the DBS Educator’s Account?

No, you are free to sign up for any of the products or services that you need in the package.

 

How do I apply?

There are three ways to apply.

Enjoy IDEAL fee waivers* by starting your application online. This service is available to Sole Proprietorships, Partnerships, Limited Liability Partnerships and Private/Limited Companies.

Alternatively, please download and complete the application form and board resolution and submit it at any DBS or POSB branch, along with all of the necessary documents in our application checklist.

You may also make an appointment with any of our DBS branches by calling DBS Business Care at 1800 222 2200 or +65 6222 2200 (if you’re calling from overseas). Please note that appointments are available during non-peak hours on weekdays (peak hours are 11.00am to 2.00pm).

*Terms & Conditions apply

 

Deposit Insurance Scheme

Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under the Supplementary Retirement Scheme are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.

Get In Touch

DBS BusinessCare 1800 222 2200

Get In Touch

DBS BusinessCare 1800 222 2200

Online Account Opening Service
Online Account Opening Service

Take just 5 minutes to apply for a DBS Business Account online and enjoy a waiver of IDEAL™ fees.

Apply Now