Founded in 1935, UOB is now a leading bank in Singapore with banking subsidiaries in the region. Today, the UOB Group has a network of over 500 offices in 18 countries and territories in Asia Pacific, Western Europe and North America. It is a dominant player in the Singapore market and offers a wide range of services including personal financial services, private banking, trust services, commercial and corporate banking, investment banking, corporate finance, venture capital management, general insurance, stockbroking services etc.
Account Opening Timeline
If all documents are submitted in line with the requirements, the bank account for your company can be opened right away. However if further verifications are required, it might take longer to open the account.
Account Types & Features
Current Account
Facilities include Monthly statements, cheque books, overdraft facility along with Corporate ATM card (Corporate Unicard, subject to a maximum of 3 cards per account) with Nets Facility, Phone Banking, and Business Internet banking convenience. A minimum initial deposit of S$1,000 is required and there is no service charge. A minimum balance fee of S$15 will be applicable if the average daily balance falls below S$10,000 during the month.
Singapore Dollar Time Deposit
Wide choice of tenor including 1 to 12,18, 24,36 months are available. On longer tenures interest can be withdrawn annually without waiting for maturity, and on maturity the account is auto-renewed for the same tenure unless instructed otherwise. A minimum placement of S$5,000 for tenors of one month and above is required.
Foreign Currency Fixed Deposit
Offers a range choice of tenor from 1 week to 12 months, auto renewed for same period at prevailing interest rate. It offers higher interest rates than Singapore dollar deposit and probability of tax-exempt capital gains in case of favorable exchange fluctuation. A minimum placement amount is required depending on the type of currency.
UOB Global Currency Account
Monthly statements and cheque book facility, along with daily interest rate on balances but this is applicable only for certain currencies. Charges applicable if the average daily balance falls below the minimum average daily balance required Minimum initial deposit and minimum daily balance required varies depending on the currency of the account.
Internet Banking Features
Sole proprietors/companies/clubs and societies, who open corporate accounts with the UOB Group, are eligible to apply for UOB Business Internet Banking. A comprehensive suite of secured banking services can be availed at your own convenience while exercising full control over your accounts and accessing rights of staff. Nominated Company Administrators will be trained to create your Company Users. One-Time Password (OTP) token will be required for all users during log-in. The OTP token will also be required for Company Signatories to approve monetary transactions according to the company authorization profile.
Account services such as account summary including loans and balance, cheque services such as status enquiry or stop payment, funds Transfer including inter account, inter banks, Placement of fixed deposit, Bill payment, Remittance services, Bulk Services such as payroll processing, Trade services like opening LC, Foreign exchange service can be performed online via internet banking. • Multiple company users can be created and given different functional and data access privileges for different company users • Capable of grouping accounts of subsidiary companies under your parent company for enquiry and/or transaction using a single Company ID • Every monetary transaction can only be approved according to the Signing Condition mandate in the Authorization Profile submitted by the company also you can set limits base on signatory, funds transfer limit or bill payment limit.
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