Apply for a DBS Business Account in 5 mins

New! 1-Day Express account opening* for Single Director Companies or Sole Proprietors with DBS/POSB personal account - no signature or documents needed!

 

 

*Terms & Conditions for 1-Day Express Account Opening:

  1. This service is currently only applicable to Singapore registered Sole Proprietorships owned by an individual or Singapore incorporated companies with one director who is also the only shareholder and authorised signatory. This individual must be a Singapore citizen or Singapore permanent resident and have an existing active DBS/POSB personal bank account.  
  2. Accounts will be opened the next working day (Monday to Friday, excluding public holidays) for applications submitted before 2pm on a working day.
  3. Applications made through this service are subject to approval by DBS.

Account Comparison

 

Digital Business Account

Multi-Currency Account

Price

S$18/month
(save up to $$244 from fall below fees & account annual fee!)

S$40 / year

Minimum initial deposit

S$1,000

S$3,000

FEATURES

Minimum Balance

NIL

S$10,000

Fall-below fee

NIL

S$35

Currencies available

SGD only

SGD and 12 foreign currencies including USD, AUD

Internet & Mobile Banking (IDEAL™)

FREE

FREE

Internet Banking Security Device

Unlimited FREE

Unlimited FREE

Debit Card

FREE

FREE

Cheque Book

S$25 / Book

FREE

Over The Counter (OTC) Transaction Fees

Pricing Guide + S$20 per txn^

Pricing Guide

MORE VALUE WITH DBS WHEN YOU TRANSACT ONLINE!

To DBS/POSB account

FREE; 24/7

To non-DBS/POSB account via FAST

S$0.50 per transaction

Outward Telegraphic Transfer (OTT)

1/8% commission + Waiver of cable charges if within DBS regional network or S$20 cable charges if outside DBS regional network

Inward Telegraphic Transfer (ITT)

S$10 per transaction

 

^Chargeable OTC transactions include:

  • Cash deposit & withdrawals
  • Cheque encashment
  • Purchase of cashier’s order
  • Purchase of demand draft
  • Funds transfers
  • Outward Telegraphic Transfers (hard copy forms)

Refer to the pricing guide for more details.

Account Opening Process


Why Open An Account With Us

1 Day Express

New! 1-Day Express account opening* available for single Director companies or Sole Proprietors with DBS/POSB personal account - no signature or documents needed!

DBS IDEAL™

FREE access to DBS IDEAL™ to transact online and via mobile app, Free Digital Token in smartphone, Free eAlerts

DBS Visa Business Advance Debit Card

No annual fee and 0.3% cash rebate

DBS Priority Pay

$0 cable charges when you transfer funds to your DBS Business Account in China, India, Hong Kong, Indonesia or Taiwan!

DBS BusinessCare

DBS BusinessCare
Dedicated, award-winning service
with fast response and extended operating hours

DBS BusinessClass

DBS BusinessClass
Invitations to exclusive networking events with global industry players and disruptors

Special privileges

Lower rates on Accounting, Mobile plans and HR solutions. Plus waiver of one-time setup fee (worth up to S$800) for credit card acceptance service

Note: If your business has foreign directors, is a social enterprise, club, association, or society, or is more complex in nature, you will need to visit the branch to complete the application. Please book a branch appointment in step 5 of the online form.

Should your business fall into any of the following, then account set-up fees and a higher minimum daily balance will apply. Click here for more details.

  • Holding/Investment Holding/Personal Investment Holding Co (PIC)
  • Fund/Private Equity/Venture Capital/Hedge Fund/Trust Account/Special Purpose Vehicle
  • Money Service Business
  • Arms-Related/Defense Industry/Pyrotechnic Business
  • Online Gaming/Gaming/Online Payment Provider

FAQs

What are the account fees and transaction fees like?

<p>Refer to the Account Comparison <a href="#c1" target="_self">here</a>. For more details on pricing, <a href="/iwov-resources/forms/sgsme/en/day-to-day/payments/pricing-guide.pdf" target="_blank">click here</a>.</p>

What documents am I required to submit and when do I need to submit them?

<p>No documents are needed for applicants who meet our 1-Day Express account opening criteria.<br /><br />For all other applicants, <a href="https://www.dbs.com.sg/iwov-resources/forms/sgsme/en/day-to-day/accounts/business-account/account-opening-checklist.pdf" target="_blank">Click here</a> for our checklist. You are only required to submit the documents after the application has been submitted online. We will arrange for a courier to pick up your documents if you had opted for a Relationship Manager to call you. For branch appointments, kindly bring the documents along with you.</p>

I am a social enterprise or a club/association/society. How do I apply for an account?

<p>Please call DBS BusinessCare at 1800 222 2200 / +65 6222 2200 from 8.30am to 8.30pm, Mon to Fri (excluding public holidays) to book a branch appointment.</p>

Questions? No worries.

DBS BusinessCare is just a call away.

1-800-222-22001-800-222-2200

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Need a 2nd DBS account?

If you’re looking to apply for an additional account with the same signing mandates and business particulars, please click here instead.

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