social-enterprise

Social Enterprise Package

Solutions to help you focus on your cause, not the cost

Social Enterprise Package

Solutions to help you focus on your cause, not the cost

    At a Glance
    Specifically designed to address the needs of social enterprises, this low-cost banking solution leaves you free to focus on your cause.
    currencies

    Preferential transaction rates and no account fees

    Get preferential transaction rates via DBS IDEAL. There is also no initial deposit or minimum monthly balance.

    currencies

    Multi-currency account

    Transact in SGD and up to 12 foreign currencies

    nature & ecology

    Responsible Banking

    We are the first and only bank in Singapore to offer solutions tailored for social enterprises as part of DBS Foundation.

    Features & Benefits
    Package details Social Enterprise Package Business Account

    Min initial deposit

    		 Nil S$3,000
    Min average balance per month

    Nil

    S$10,000

    Fall–below fee

    Waived

    S$35

    Annual account service fee

    Waived

    S$40 per year

    Inward Telegraphic Transfers

    Waived

    S$10 per transaction

    Outward Telegraphic Transfers

    A flat rate of S$18 per transaction (via DBS IDEAL)

    Handling commission: 1/8% (min S$10, max S$120)

    Commission–in–lieu of FX: 1/8% (min S$10, max S$120)

    Cable charge: S$20

    MAS Electronic Payment System (MEPS)

    S$10 per transaction (via DBS IDEAL)

    S$20 per transaction

    GIRO

    Waived (via DBS IDEAL)

    S$0.20 per item

    DBS IDEAL

    Free

    Free

    DBS Visa Business Advance Debit Card

    Free

    Free

    DBS Business Loan

    Preferential loan interest rate of 5% p.a.

    Waiver of S$500 processing fee, or 2% of the approved loan amount, whichever is higher

     

     

    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. Click here to read more.

    How to Apply

    Step 1: Apply online fuss-free! Retrieve your company’s information using CorpPass & MyInfo Business, OR your Business Registration Number.

    Step 2: Inform the Bank your Social Enterprise Status. 

    Step 3: A courier will pick up your Social Enterprise Package application form, raiSE membership letter and other documents, free of charge.

    Download PDF
    Social Enterprise Package Application Form
    Account Opening Checklist
    Application Form
    Board Resolution - Associations and Societies
    Board Resolution - Private Limited Companies
    Change of Account Signatories and Signing Requirements Form
    Declaration of Beneficial Ownership
    Pricing Guide
    Terms and Conditions
    FAQs
    What is a social enterprise?

    Social enterprises are businesses that have a social mission at their core and use sustainable commercial models to achieve this social mission. Their primary objective is to achieve positive social, cultural, community, economic and/or environmental outcomes. They sustain themselves with earned revenue, with no reliance on philanthropic giving for their operations.

    Traditional commercial models focus on delivering profits to shareholders and may contribute a portion of excess profits for social good; social enterprises focus on centering their operating models around achieving their social mission. Profits generated are committed towards strengthening their ability to create positive social impact and to clearly demonstrate such impact with measurement and reporting.
    What funding is available for social enterprises?

    The Social Enterprise can apply for:

    • Unsecured business loans at a preferential rate of 5% fixed p.a.

    • Project Grants to support meaningful initiatives

    Please call us at 1800 222 2200 for more information.
    Are deposits under social enterprise accounts insured?

    DBS Social Enterprise Package Accounts are eligible for deposit insurance coverage. Learn more with our Deposit Insurance Scheme.

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