If you’re not sure which bank to use for your company, the main thing to consider is how you are going to operate the account – whether you are going to use mostly cheques or if you’re relying on e-banking.
Unfortunately in Singapore, some banks are charging a fee for e-banking access, which is probably why the uptake of e-banking isn’t as strong as it should be. Incredibly, there are also charges on electronic transfers of funds, which makes cheque usage in Singapore still popular among companies.
To help you decide, here’s a comparison table of the best banks in Singapore for small and new businesses:
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