Given the many different choices of business bank accounts, here are some tips on how to select the best Singapore business bank account based on your needs. Why should you consider opening a business bank account for your SME? Easy to track for bookkeeping records Due to convenience and ...
The best SME bank account in Singapore: Head to head Before we get into the details about the best SME bank accounts in Singapore, let’s kick off with a head to head comparison. We’ve selected bank and specialist provider accounts from several different providers, which all have a focus ...
In Singapore, almost all registered businesses, from small startups to large corporations, choose to open business bank accounts - or a specialised business account from a non-bank financial provider - to manage their finances. Sole traders and freelancers, on the other hand, might opt not to...
Singapore-headquartered Oversea-Chinese Banking Corporation (OCBC) has won accolades as 2024’s Best SME Bank in the Asia-Pacific region for its creative and enthusiastic support of SME clients during torrid times and for impressive digital innovation. The bank works with 130,000 SMEs in Singapore...
How to apply for an SME Loan in Singapore? Once you have identified the loan scheme that best suits your company’s needs, the next step would be to prepare the necessary documents. Some of these documents include: Company’s bank statements and financial reports Director’s IC copy and Not...
In 2022, the bank launched a dedicated SME application that serves firms in Singapore, Vietnam and Malaysia – with more Asean markets to follow. It provides smaller firms with a clear view of cash flow trends, accounting and HR data, and generates alerts for preferred FX rates. In Apri...
expertise and continued support of SMEs to enable post-pandemic recovery and growth. The latest win follows from other key SME awards the Bank has won including the Best SME Bank inSingaporeandAsia PacificatThe Asian Banker'sExcellen...
“We used to be a wholesale-funded bank, now we’re a retail-funded bank,” Gupta explains. “It allows us to get into the mass market, retail and SME. We had a digital difference; now we can back it up with a more entrenched point-of-sale presence. That’s a big difference for...
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Singapore’sUOBis different. The SME segment has long been a large driver of the bank’s revenues and profits, accounting for around 20% today. Those SMEs – an outsizeddriver of the entire Singaporean economy– have also been atypically focused on international growth. A relatively...