Overview
UOB, at a glance.
UOB is a bank headquartered in Singapore, regulated by Monetary Authority of Singapore. Business accounts cost S$0–15 a month. Opening an account takes 3–5 days. The online route needs a Singapore-registered business with at least one owner or director who is a Singapore citizen or permanent resident. Foreign-incorporated companies apply through the assisted route.
United Overseas Bank Limited 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 UOB
- Opened online with Myinfo Business, instantly in service hours
- Overseas transfers S$15 online until 31 December 2027
- Rebates on up to 60 FAST and 60 GIRO payments a month
- Accepts foreign-incorporated companies, LLPs, societies and clubs
- Business debit card with cash rebates
Watch out for
- S$1,000 to open and S$35 a year
- S$15 a month below a S$5,000 average balance after the first year
- The online route needs a Singapore citizen or PR owner or director
- Foreign-incorporated companies pay a setup fee from S$500
- Trustpilot 1.6 from 65 reviews
Business fit
Will UOB 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 UOB's published rules
Needs review
UOB works with Startups and SMEs, but does not publish the countries it accepts companies from.
UOB 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 UOB publishes about the businesses it takes on.
Who UOB serves
- Startups and SMEs
- Import and export
- Professional services
- E-commerce
Not supported
Industries and countries UOB does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use UOB?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
SGD and foreign currencies
SGD account; a foreign-currency account or Global Currency Account can be added.
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Private limited companies, Sole proprietorships, Partnerships, Limited liability partnerships, Foreign-incorporated companies, Societies, clubs, associations and clans, Professional practices, MCSTs
Pricing
What does UOB 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
SGD 1,000
Monthly fee
Free
UOB eBusiness Account
SGD 0 per month
SGD 1,000 setup · SGD 1,000 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | SGD 15 | Fixed fee · Online telegraphic transfer, promotion until 31 December 2027; agent charges extra |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply online
Open with Myinfo Business through Singpass.
- 2
Company details
Verify the company details and UEN.
- 3
Choose options
Add a foreign-currency account, fixed deposit or debit card.
- 4
Account live
Account details arrive by registered email after approval.
Documents you need
- Identity documents of the people behind the company
- ACRA business profile
- Company resolutions
- Constitutional documents, for the entity types that need them
FAQ
Your questions, answered.
Is UOB a bank?
Yes. United Overseas Bank Limited is a licensed bank in Singapore, regulated by the Monetary Authority of Singapore.
How much does the UOB eBusiness Account cost?
S$35 a year, with S$1,000 to open. Below a S$5,000 average daily balance it costs S$15 a month, waived for the first 12 months.
Can a foreign company open a UOB business account?
Yes. Foreign-incorporated companies are eligible, with an account setup fee of at least S$500. The online route needs a Singapore citizen or PR owner or director.
How much are overseas transfers?
S$15 per online telegraphic transfer until 31 December 2027, plus any agent charges.
Alternatives
How UOB compares.
If UOB is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 UOBThis pageBank |  | Small businessesForeign companies |
 OCBCBank | | Foreign-owned companies14 currencies |
 DBSBank | | Foreign-owned companies13 currencies |
 MariBankDigital bank | | No feesSGD and USD |
 AspirePayments platform |   | Free planCorporate cards |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.