Overview
OCBC, at a glance.
OCBC is a bank headquartered in Singapore, regulated by Monetary Authority of Singapore. Business accounts cost SGD 10 a month. Opening an account takes 3–5 days. Accepted. OCBC has a remote route for Singapore companies whose owners live abroad and for companies registered outside Singapore.
OCBC is a licensed bank in Singapore. Singapore-dollar deposits are insured by the Singapore Deposit Insurance Corporation up to S$100,000 per depositor; foreign-currency deposits are not.
Why businesses pick OCBC
- A remote opening route for companies owned by foreigners living abroad and for companies registered outside Singapore
- A multi-currency account in 13 currencies, free with an OCBC SGD account
- 80 free FAST and GIRO payments a month
- Payments in more than 60 currencies
- Dedicated support in the language of your choice for foreign-owned companies
Watch out for
- SGD 10 a month, and SGD 20 if the average balance falls below SGD 1,000
- Telegraphic transfers cost SGD 30 out and SGD 10 in, plus agent fees
- Card spending in foreign currency costs 2% plus conversion
- Closing within 12 months costs SGD 50
- Trustpilot score of 1.6 from 26 reviews
Business fit
Will OCBC accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on OCBC's published rules
Needs review
OCBC works with Startups and SMEs, but does not publish the countries it accepts companies from.
OCBC does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What OCBC publishes about the businesses it takes on.
Who OCBC serves
- Startups and SMEs
- Import and export
- E-commerce
- Holding companies
Not supported
Industries and countries OCBC does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use OCBC?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
SGD and 13 foreign currencies
- SGD
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- CNH
- DKK
- HKD
- NOK
- NZD
- SEK
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Singapore-registered businesses, Companies registered outside Singapore
Pricing
What does OCBC cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
SGD 10
Business Growth Account
Lowest costSGD 10 per month
SGD 0 setup · SGD 120 in year one
Multi-Currency Business Account
SGD 10 per month
SGD 0 setup · SGD 120 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Incoming | ||
| SWIFT / international | SGD 10 | Fixed fee |
| Outgoing | ||
| SWIFT / international | SGD 30 | Fixed fee · Plus agent fees |
| To another OCBC account | Free | No charge · First 80 FAST and GIRO payments a month |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Card FX | 2% | Percentage of the amount · Plus conversion costs |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is OCBC a bank?
Yes. Oversea-Chinese Banking Corporation Limited is a licensed bank in Singapore. Singapore-dollar deposits are insured up to S$100,000 by the Singapore Deposit Insurance Corporation.
How much does an OCBC business account cost?
The Business Growth Account costs SGD 10 a month after two free months, with a SGD 1,000 minimum deposit. The Multi-Currency Business Account costs SGD 10 a month, waived if you have an OCBC SGD account.
Can a foreign-owned company open an OCBC account?
Yes. OCBC has a remote route for Singapore companies owned by foreigners living outside Singapore, companies with foreign corporate shareholders and companies registered outside Singapore.
Which currencies does OCBC support?
The multi-currency account holds USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, CHF, SEK, DKK and NOK, and OCBC sends payments in more than 60 currencies.
Alternatives
How OCBC compares.
If OCBC is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 OCBCThis pageBank |  | Business accountNon-residents accepted |
 DBSBank | | Foreign-owned companies13 currencies |
 ANEXT BankDigital bank | | No monthly fee4 currencies |
 AspirePayments platform |   | Free planCorporate cards |
 AirwallexE-money institution |   | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.