Changes to FlexiBiz 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
Kickstart your business growth with the right banking tools
Maybank FlexiBiz Account #ForYou
Promotions
Transact your payroll online
From now till 31 December 2023, received S$88 when you signed up for Maybank Payroll Service and credit salaries for at least 3 consecutive months.
Terms and Conditions apply.
Receive S$20* cash reward when you open a Maybank FlexiBiz Account online
Additional S$20* cash reward if you open Foreign Currency Current Account 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 31 December 2023, while stock last.
- Customer must open a new Corporate Current Account 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 Online Corporate Current Account Opening Promotion (“Promotion”)
*For Foreign Currency Current Account
Receive FREE PayNow SGQR labels from us!
Apply for PayNow on SGQR via Business Internet Banking and receive complimentary SGQR labels*!
Terms and Conditions apply.
Benefits
- No monthly fees
- Free access to Business Internet Banking Services 24/7
- Complimentary all-in-one business debit card
- Attractive interest rates of up to 0.038% p.a.
- Instant fund transfer via FAST at only S$0.50 per transaction
Interest Rates
| Account Balance | Interest Rate |
|---|---|
|
First S$50,000 |
0.018% p.a. |
|
Next S$450,000 |
0.028% p.a. |
|
Remaining balance above S$500,000 |
0.038% p.a. |
Rebate Benefits
Transact Digitally, Save More and Save the Environment
By switching to e-payments, not only do you turn your essential transactions into exceptional savings every month, you are also contributing to sustainability through reducing the environmental impact of using physical notes and cheques.
Refer to table for list of eligible rebates.
Tier 1: Required Average Daily Balance (ADB) of S$30,000 to S$99,999
| Eligible Transactions | Rebate Amount |
|---|---|
| Instant Fund Transfer via FAST | 100% rebate of charges capped at 30 transactions per month |
| GIRO Payments | 100% rebate of charges capped at 30 transaction per month |
| Automated Salary Payment1 | 100% rebate of charges |
| Fund Transfer to banks in Malaysia via Maybank Overseas Transfer3 | 25% rebate of charges2 |
| International Telegraphic Transfer | 25% rebate of charges2 |
Tier 2: Required Average Daily Balance (ADB) of S$100,000 and above
| Eligible Transactions | Rebate Amount |
|---|---|
| Instant Fund Transfer via FAST | 100% rebate of charges capped at 120 transactions per month |
| GIRO Payments | 100% rebate of charges capped at 120 transactions per month |
| Automated Salary Payment1 | 100% rebate of charges |
| Fund Transfer to banks in Malaysia via Maybank Overseas Transfer3 | 50% rebate of charges2 |
| International Telegraphic Transfer | 50% rebate of charges2 |
1 Automated Salary Payment refers to Maybank's APS+ payment by Preset Template/File Upload
2"Contract rates" for foreign exchange transactions for International Transfer initiated on Business Internet Banking are not applicable for the Promotion.
3Maybank Overseas Transfers to other banks in Malaysia will commence from 7 November 2023.
Requirements
Eligibility
Who can apply for the Start-up account?
- 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 (Refundable*) (till 31 October 2023) *Note: Total cheque charges for the day will be debited from your account on the same day. At the end of the month, if your average daily balance is S$30,000 and above, the total cheque charges debited earlier will be credited back to your account. S$0.75 per cheque (Non-refundable) (from 1 November 2023) |
| Cheque Deposit | Free (till 31 October 2023) Free until further notice (from 1 November 2023) |
|
Minimum Balance Fee |
S$10 per month (From 1 February 2022) if the average daily balance falls below S$1,000 |
|
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 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
Other Information
Useful Links
Deposit Insurance Scheme
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$75,000 in aggregate per depositor per Scheme member by law. Monies and deposits denominated in Singapore dollars under the CPF Investment Scheme and CPF Retirement Sum Scheme are aggregated and separately insured up to S$75,000 for each depositor per Scheme member. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.