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UOB's entry-level business account for Singapore companies is the eBusiness Account. You pay S$1,000 to open it, keep a S$5,000 average daily balance and pay S$35 a year. The S$15 monthly fall-below fee is waived for the first 12 months only. Online opening needs at least one owner or director who is a Singapore citizen or permanent resident.
This is an independent guide. It is not UOB and it does not open accounts. Requests sent through our form go to providers that fit, and some pay us when you become their client.
What does the eBusiness Account charge?
UOB's product page, read on , gives a full fee ledger. Here it is in the order you will meet each charge.
- At opening: a minimum initial deposit of S$1,000.
- Every year: an annual account fee of S$35.
- Every month the average daily balance is under S$5,000: a S$15 fall-below fee, waived for the first 12 months.
- If you close within 12 months: a S$50 early closure fee.
- Each cheque book: S$25.
- Each over-the-counter deposit or withdrawal: S$20.
That ledger changes what a cheap-looking account costs. A company that keeps S$3,000 in the bank will pay no fall-below fees in year one, then S$15 every month after that, on top of the S$35 annual fee.
What do you get back in rebates?
UOB lists rebates rather than flat free allowances, so read each carefully:
| Item | Published by UOB |
|---|---|
| Outgoing FAST | S$0.50 rebate per transaction, up to 60 a month |
| Bulk GIRO payroll | 100% rebate on the transaction charge |
| GIRO payments and collections | S$0.20 rebate per transaction, up to 60 a month |
A rebate offsets a charge. It does not make the transaction free past the cap. If you run payroll through bulk GIRO, the 100% rebate is the line to look at first.
What changes after month 12?
Two things. The balance waiver ends, so a month under S$5,000 now costs S$15. And the early closure fee no longer applies. Plan the account around the date, not the sign-up promotion. A company that cannot hold S$5,000 should compare against accounts with no minimum balance, such as the ANEXT or Aspire pages on this site.
Who can apply?
UOB says the account is for Singapore-registered businesses and lists these entity types: sole proprietorships, private limited companies, partnerships, LLPs, foreign incorporated companies and professional practices. For the online route, at least one owner or director must be a Singapore citizen or permanent resident, and you log in through Singpass.
If no owner or director fits that description, UOB's page does not say what route you take. Do not assume a branch visit is optional or required. Ask UOB.
How does the online application work?
- Log in with Singpass on UOB's page.
- Confirm the company details and UEN that UOB pulls in.
- Choose the account and options.
- Submit before 9pm for same-day processing. UOB says later applications go in the next working day.
For documents, UOB points to forms that vary by entity: the account opening form, an ACRA business profile search, identity papers and a FATCA certification for US persons. Our page on the ACRA business profile shows where to get that record.
What does UOB not publish here?
- Any review time or approval rate.
- A route for companies where no owner or director is a citizen or permanent resident.
- Rules on nominee directors or on declined industries.
Is it the right account for your company?
It suits a Singapore company with a steady balance above S$5,000 that pays staff by bulk GIRO. It suits less well a young company with a thin balance that will hit the fee in month 13. Read the general bank account page for the full document list and compare the DBS and OCBC terms.
If you want a provider to prepare the application, send the quote form with a note on who owns the company.
What should you ask UOB before you apply?
Ask whether your ownership fits the online rule, since one owner or director must be a citizen or permanent resident. Ask when the 12 month waiver clock starts and whether it counts the opening month. Ask what happens if you close early for a good reason. Ask which of the S$20 over-the-counter and S$25 cheque book charges you can avoid by using online channels.
Keep the replies in writing. A bank page shows the public terms, and your own application letter shows what applies to you.
Sources
- UOB: eBusiness Account: fees, rebates, eligibility, online opening times, documents.
