Bank Account Opening

• What are the requirements for opening a corporate business bank account in Singapore?

  Discover the typical requirements for opening a corporate business bank account in Singapore. Learn about the necessary documents, including company registration documents (e.g., ACRA BizFile), identification documents of directors, shareholders, and authorised signatories, as well as the completed application form and other relevant documents required by the bank.Featured

• How long does it take to open a business bank account?

  Learn about the timeline for opening a business bank account, which can range from a few days to a few weeks depending on the bank and application complexity. Discover how engaging a service provider like Excellence Singapore can streamline the process and save time.Featured

• Can a foreigner open a corporate bank account in Singapore?

  Discover how foreigners can open a corporate bank account in Singapore. Learn about the potential requirement for a local presence, such as having a local director or a local registered office, to facilitate the account opening process.Featured

• Do I need to be physically present in Singapore to open the account?

  Learn about the physical presence requirements for opening a bank account in Singapore. While some banks may require an authorised signatory to be present, many banks now offer online account opening services or accept documents via courier, allowing you to open an account without being physically present. Contact us for more details.Featured

• What types of bank accounts are available for businesses in Singapore?

  Explore the various types of bank accounts available for businesses in Singapore, including current accounts, savings accounts, multi-currency accounts, and merchant accounts. Learn how these accounts cater to different business needs, such as payroll, cash management, and transactional requirements.Featured

• What are the fees associated with business bank accounts?

  Understand the various fees associated with business bank accounts, including account maintenance fees, transaction fees, wire transfer fees, and other service charges. Learn how service providers can help you compare bank offerings to find the most suitable account for your business needs.Featured

• Can I switch banks after opening the account?

  Learn about the possibility of switching banks after opening a corporate account. Discover the steps involved in switching banks, including going through the account opening process again and potential additional fees.Featured

• How can I manage my corporate bank account?

  Discover how to manage your corporate bank account with ease. Learn about the online banking platforms offered by most banks in Singapore, enabling you to manage your account, make payments, and monitor transactions from anywhere in the world.Featured

• Is my money safe in a Singaporean bank?

  Learn about the safety of your money in a Singaporean bank. Discover how Singapore's robust and well-regulated banking system, overseen by the Monetary Authority of Singapore (MAS), ensures the stability and security of the financial sector.Featured

• What is the role of a service provider in opening a corporate business bank account?

  Discover the role of a service provider like Excellence Singapore in opening a corporate business bank account. Learn how they guide you through the requirements, help you choose the right bank, prepare and submit necessary documentation, and liaise with the bank on your behalf, ensuring a smooth and efficient account opening process.Featured