From 1 July 2024, the charges for cheque usage will be raised for all SGD denominated corporate cheque depositing.
We have prepared a list of Frequently Asked Questions and the cheques charges for your reference.
SME Deposits
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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
Eligibility
Who can apply
- Sole proprietors
- Partnerships
- Limited Liability Partnerships (LLP)
- Incorporated Companies
- Charities
- Societies
- Associations
Documents Requirement
- Click here to view the required documents for account opening
Initial Deposit
- S$1,000
Account opening is subject to the Bank's approval.
Fees and Charges
| Description | Fees and Charges |
|---|---|
| Cheque Issuance |
S$0.75 per cheque (from 1 November 2023) |
| Cheque Deposit |
Free (till 30 June 2024) S$0.75 per cheque (from 1 July 2024) |
|
Minimum Balance Fee |
S$35 per month if the average daily balance falls below S$10,000 |
|
Early Account Closure Fee |
S$50 if account is closed within 6 months of opening |
| Overdraft Accounts Fees |
Excess interest charge 3% p.a. + Prescribed Interest Charge or 5% p.a. + Prime Lending Rate, whichever is higher, subject to a minimum of S$20 |
|
Others |
Click here to view other applicable Bank charges for 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