DBS Business Digital Account, Business Banking

At a Glance

Starting up a business? If you have low initial capital and transact mostly online, the Business Digital Account is ideal for getting you started.

Simple to maintain

No minimum balance or fall-below fees, ever!

Simple to transact

Free digital tokens, eAlerts and access to IDEAL to transact online and via mobile

Simple to open

Instant Account Opening* for 3 or fewer users with DBS/POSB personal account

Features & Benefits

Internet & mobile banking fee

Free access to IDEAL, our online banking platform

Low initial deposit

Start your business account with just S$1,000

Unlimited free digital tokens

Use your iOS and Android device to authenticate your transactions

Eligibility

Please take a moment to review the below eligibility criteria and documents required before completing the online application process.

Your company must be:
- registered in Singapore
- fully owned by Singapore Citizen(s) who are DBS/POSB customers.
The number of authorised company signatories/directors/ shareholders/partners should not exceed 3. We may need to speak to you to verify your documents.
Details of the company must be retrieved from ACRA on step 2 of the application.
All applications are subject to approval.

Fees

Monthly account fee	S$18
Over-the-counter transaction	S$20 for each transaction + charges for transactions in the Pricing Guide
Cheque book	S$25 each

Refer to the pricing guide for more details.

Note: Fees indicated are inclusive of GST where applicable.

Fee waiver for all PayNow Corporate transactions until 31 Dec 2019.

Free Debit Card. No annual fee and 0.3% cash rebate.

How to Apply

Submit your online application between 6am and 11 pm to open an account instantly.

We may need to speak to the sole proprietor, partners of a limited liability partnership or director of a private/limited company.

For a single director or sole proprietor with a DBS/POSB account.

Step 1: Apply online in just 5 minutes.

No documents are needed. You will need your:

ACRA Business Registration number
Personal DBS/POSB iBanking login or Debit/ATM Card and PIN details

Step 2: Account open in 1 day.

Use your account on the next business day.

For multiple directors or partners in a company

Step 1: Apply online in just 5 minutes.

You will need:

ACRA Business Registration number
Contact details of all account users

Step 2: Wait for our call.

We will call you within 1 business day to verify your identity.

Step 3: Prepare your documents for pick up.

We will send a courier to collect your documents

Step 4: Transact online.

Your account will be ready on the next business day.

Things to Note

Update your account

Account fees & charges

Checklist: documents to submit post-application

Additional account opening request

Account statements & transaction advice

FAQs

	What currency is this account in?
	You may only transact in Singapore Dollars (SGD) in the Business Digital Account. However, we offer SGD plus up to 12 foreign currencies in the Multi-Currency Business Account .

	Which transactions are chargeable?
	A S$20 transaction fee will apply to over-the-counter transactions including: Cash deposit & withdrawals Cheque encashment Purchase of a cashier’s order Purchase of a demand draft Funds transfers Outward Telegraphic Transfers (hard copy forms)

	I can’t find my company on ‘ACRA details’ in the online form. Why?
	Try removing ‘Pte. Ltd’ from your company name when entering your details. If your company is newly registered, it will take 2 working days before you can retrieve the details.

	I have an SGD Business Account. How do I switch it to a Business Digital Account and keep the same account number?
	We’ll help you make the switch. Call us on 1800 222 2200.