Changes to SGD Current Account Fees
From 1 November 2023, the charges for cheque usage will be raised for SGD-denominated cheques.
We have prepared a list of Frequently Asked Questions and the new charges for your reference.
SME Deposits
Enjoy the convenience of a checking account for your business
Maybank Current Account-i #ForYou
Promotion
Receive S$40* cash reward when you open a Maybank Current Account-i online
Additional S$40* cash reward if you open Foreign Currency Current Account-i in the same application
* minimum deposit S$1,000 / US$1,000 or its equivalent per account is required
Terms and Conditions
- Promotion is valid till 30 June 2024, while stock last.
- Customer must open a new Business Current Account (Shariah-compliant) with minimum S$1,000 / US$1,000 or its equivalent* fresh funds.
- Additional Terms and Conditions shall apply to this Promotion, together with the Terms and Conditions governing Current Account for Non-Individual.
- Terms and Conditions Governing Business Current Account Online Opening Promotion (“Promotion”)
*For Foreign Currency Current Account-i
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Apply for PayNow on SGQR via Business Internet Banking and receive complimentary SGQR labels*!
Terms and Conditions apply.
Benefits
- Complimentary all-in-one business debit card
- Free access to Business Internet Banking Services 24/7
- Instant fund transfer via FAST at only S$0.50 per transaction
Requirements
Who can apply
- Sole proprietorships
- Partnerships
- Limited Liability Partnerships (LLP)
- Incorporated Companies
- Charities
- Societies
- Associations
Initial Deposit
- S$1,000
Account opening is subject to the Bank's approval.
Documents Requirement
- Click here to view the list of required documents for account opening
Fees and Charges
| Description | Fees and Charges |
|---|---|
| Cheque Issuance |
First 30 cheques free per month, S$0.75 per cheque thereafter (till 31 October 2023) S$0.75 per cheque (from 1 November 2023) |
| Cheque Deposit |
Free (till 31 October 2023) Free until further notice (from 1 November 2023) |
|
Fall-below fee (per month) |
S$15 when the average daily balance falls below S$10,000 |
|
Compensation Fee |
1% p.a. on amounts overdrawn |
|
Early Account Closure |
S$50 early account closure fee if the account is closed within 6 months of opening |
| Others | Click here to view other applicable Bank charges for the Current Account |
How to apply
i. Open an account with MyInfo Business
Who can apply
- Business incorporated in Singapore
- Sole Proprietorship/ Partnership/ Private Limited Companies
- No more than 3 directors/ partners/ owners, all of whom are Singaporeans or PRs
- "Live" Business
What you need
- Your SingPass/ CorpPass login
- Your signature image
- Certified true copies of Memorandum & Articles/ By-Laws/ Constitution of your company (if company does not adopt Standard ACRA template constitution) or Certified true copies of LLP Partnership agreement.
ii. Open via our branches
Please make an appointment with your preferred branch to register your interest for company account opening.
During your appointment, please bring along the following documents and take note of the requirements:
Personnel to be present
| All signatories are required to be present | |
|---|---|
|
Sole Proprietorship |
Business Owner |
|
Partnership/Limited Liability Partnership |
All Partners |
|
Private Limited |
All Authorised Persons and All person who certify the submitted documents. |
| Society/Club/Associations | All Signatories |
Documents required
- Completed company account opening form. Form is available at maybank.sg/caform
- Supporting documents
- Certified true copies of Memorandum & Articles of Association (M&A) / By-Laws / Constitution
- Certified true copies of NRIC/Passport of all authorised Signatories/Directors/Partners/Office Bearers
- Other supporting documents (if necessary), such as company bills, invoices, bank statements, to help us better understand the needs and purpose of the account.
- Minimum deposit in cash or cheque