Business Smart Account
An account in USD or EUR
with flat telegraphic transfer fees
- Low initial deposit of US$500 or €500
- Flat fee for telegraphic transfer via Velocity@ocbc (business internet banking)
- No minimum balance required for the first 6 months
Eligibility
- All businesses
Account fees & charges
Initial deposit
Min. monthly avg. balance
Cheques
Detailed fees & charges
Account service fee | US$15 / €15 if minimum monthly average balance falls below US$1,000 / €1,000 |
|---|---|
Flat fee for telegraphic transfer | The agent bank charges will still apply. Promotion is given to account holders of the Business Smart Account for outward telegraphic transfers submitted via Velocity@ocbc and where the charge type of the telegraphic transfer is OUR or SHA only. Promotional flat bank charge is valid for 2 years from the date of account opening. OCBC reserves the right to revise the promotional flat charge from time to time during the 2 years. |
Manage & monitor your transactions easily
Velocity@ocbc (business internet banking)
- Access your account information
- Make payments and collections
- Manage your trade activities
eAlerts@ocbc
Be alerted via SMS or email for
- Account balances and transactions
- Incoming and outgoing funds
- Funds top-up
- Trade transaction status
- Free for first 3 months
Hassle-free payments & services
Foreign currency transfers
Transfer money overseas or in foreign currencies at a lower cost with demand draft, or choose telegraphic transfer for faster processing.
Cheque deposit boxes
Get greater convenience of depositing your cheques at selected petrol stations and industrial parks across the island.
See map view
See list
Receiving payments
Daily cheque collection and same-day processing
Let OCBC handle your cheque collection by receiving cheques at your designated post office box for same-day processing.
Accept card payments
Partner with OCBC as a merchant. We process your Visa and MasterCard transactions with competitive fees and quick payment service.
Receive scheduled GIRO payments
Set scheduled payments from your cuastomers’ account via interbank GIRO direct debiting.
Wide network of branches
55 branches island-wide
Full Sunday banking service
Business & trade service centres
Our dedicated staff at 6 business centres and 4 trade service centres will help you with all your business and trade service needs.
Instant account opening at our branches
Important notice
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Foreign currency deposit
Where applicable, the Bank will pay interest at its prevailing interest rate for the relevant account calculated on daily balances (excluding late cheque deposits). Interest will be credited at such intervals as determined solely by the Bank from time to time. No interest will be paid if the daily balance falls below the prescribed minimum as may be determined by the Bank from time to time for that account.
Foreign currency investments or deposits are subject to inherent exchange rate fluctuations that may provide opportunities and risks. Earnings on foreign currency investments or deposits would be dependent on the exchange rates prevalent at the time of their maturity if any conversion takes place. Exchange controls may be applicable from time to time to certain foreign currencies. You should therefore determine whether any foreign currency investment is suitable for you in the light of your investment objectives, financial means and risk profile. Any pre-termination costs will be deducted from your deposit.
