Social Enterprise Package

Social Enterprise Package

Solutions to help you grow your cause, not the cost

Social Enterprise Package

Solutions to help you grow 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 Multi-Currency Account

    Eligibility

    		 Social Enterprise SMEs
    Min initial deposit

    Nil

    S$1,000
    Min average balance per month Nil S$10,000

    Fall–below fee

    Waived

    S$40

    Account service fee

    Waived

    S$50 per year

    Inward Telegraphic Transfers

    Waived

    S$10 per transaction

    Outward Telegraphic Transfers

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

    A flat rate of S$30 per transaction (via DBS IDEAL), excluding Agent Bank charges

    MAS Electronic Payment System (MEPS)

    S$10 per transaction (via DBS IDEAL)

    S$18 per transaction (via DBS IDEAL)

    GIRO & FAST

    GIRO: Waived (via DBS IDEAL)

    FAST: S$0.50 per transaction

    Via DBS IDEAL: 
    • 50 mthly free FAST 
    • 50 mthly free GIRO
    OTC Charges* - OTC transaction @ S$20 per transaction

    DBS IDEAL

    Free

    Free

    DBS Visa Business Advance Debit Card

    Free

    Free

    *Over-The-Counter (OTC) charges are applicable to cheque encashments, cash deposits and cash withdrawals done over the branch counter only and is subject to the banks review.

    Note: Fees are inclusive of GST where applicable. View the Pricing Guide for details.

    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 for a business account

    Step 2: Inform DBS of your Social Enterprise status and submit the Social Enterprise Package application form along with the raiSE membership letter to enjoy the Social Enterprise Account Benefits. 

    Download PDF
    Social Enterprise Package Application Form
    Account Opening Checklist
    Business Account 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:

    • 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.