From 1 July 2024, the charges for cheque usage will be raised for USD-denominated cheques.
We have prepared a list of Frequently Asked Questions and the cheques charges for your reference.
SME Deposits
From multiple available options, pick the one tailor-made to suit the foreign currency transaction needs of your business
Maybank Foreign Currency Current Account #ForYou
Benefits
- Attractive interest rates on USD
- Free chequebook for USD Current Account with option to receive notification for cheque clearance
- Cross Currencies funds transfer to and from SGD accounts via Business Internet Banking
- Deposit and withdraw local and foreign currencies in cash, demand drafts or telegraphic transfers
Currencies
USD, EUR, GBP, AUD, NZD, CAD, HKD, JPY
Click here for the latest rates
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
- US$1,000 or its equivalent
Account opening is subject to the Bank's approval.
Fees and Charges
| Description | Fees and Charges |
|---|---|
| Cheque Issuance |
US$0.75 per cheque (from 1 November 2023) |
| Cheque Deposit |
Free (till 30 June 2024) US$0.75 per cheque (from 1 July 2024) |
|
Fall-below fee (per month) |
US$5 equivalent (if your average daily balance fall below US$1,000 or its equivalent in the month) |
|
Early Account Closure (within 6 months) |
USD20 early account closure fee (if the account is closed within 6 months of opening) |
|
Others |
Click here to view the other applicable transactional charges and service fees |
How to Apply?
i) Open FlexiBiz, PremierBiz or SGD Current account with MyInfo Business, and in the same application, apply for a foreign currency current account
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