If you’re a business owner, you know how important having a reliable banking partner is. That’s where UOB eBusiness Singapore comes in. This innovative banking solution is designed to help businesses of all sizes manage their finances more efficiently and effectively.
With UOB eBusiness, you can enjoy a range of features and benefits that are tailored to your specific needs. From online banking to savings accounts, UOB eBusiness has everything you need to take your business to the next level. In this article, we’ll take a closer look at UOB eBusiness and everything you need to know to get started.
Key Takeaways
- UOB eBusiness is an innovative banking solution designed to help businesses manage their finances more efficiently and effectively.
- With UOB eBusiness, you can enjoy a range of features and benefits that are tailored to your specific needs.
- From online banking to savings accounts, UOB eBusiness has everything you need to take your business to the next level.
Understanding UOB eBusiness Account
If you are looking for a business banking solution, the UOB eBusiness Account is an excellent option. This account is designed for startups, small businesses, and corporations that need a reliable and cost-effective way to manage their finances. In this section, we will look at the key features, account types, and eligibility criteria of the UOB eBusiness Account.
Key Features
The UOB eBusiness Account comes with a range of features that make it an attractive option for businesses of all sizes. Here are some of the critical features of the account:
- Zero fees on FAST and GIRO transactions.
- Annual account fee waiver in the account opening year.
- Minimum balance and fall below fee waived for the first 12 months from account opening.
- Free bulk services subscription on UOB Infinity.
- 100% rebates on Bulk GIRO charges via $0.20 rebate per transaction on up to 60 GIRO Payment & Collection transactions per month via UOB Infinity.
UOB eBusiness Singapore: Account Types
The UOB eBusiness Account is suitable for various types of businesses, including sole proprietors, partnerships, limited liability partnerships, clubs, societies, associations, clans, private limited companies, and foreign incorporated companies.
The account comes in two types: the SGD account and the foreign currency account. The SGD account is ideal for businesses that operate in Singapore, while the foreign currency account is suitable for businesses that deal with foreign currencies.
UOB eBusiness Singapore: Eligibility Criteria
To open a UOB eBusiness Account, you need to meet the following eligibility criteria:
- Your business must be registered in Singapore.
- You must be a Singapore citizen, permanent resident, or a foreigner with a valid work permit or employment pass.
- Your business must have a valid Business Registration Number (BRN).
- You must have a valid identification document, such as an NRIC or passport.
In conclusion, the UOB eBusiness Account is an excellent option for businesses that need a reliable and cost-effective way to manage their finances. With its zero fees on FAST and GIRO transactions, annual account fee waiver, and free bulk services subscription on UOB Infinity, this account is an attractive option for startups, small businesses, and corporations.
UOB eBusiness Singapore: The Application Process
If you are interested in opening a UOB eBusiness account, the application process is straightforward and can be done online in under five minutes. Below is a step-by-step guide on how to apply for the UOB eBusiness account.
Required Documents
Before you begin the application process, please ensure that you have the following documents on hand:
- Your company’s ACRA Business Profile
- Your NRIC or FIN card
- Your company’s UEN number
- Your company’s latest financial statement
Step-by-Step Guide
- Start by filling out the online application form found on the UOB website. The application form will ask for basic information about your company, such as your company’s name, UEN number, and business activities.
- Next, you will need to upload your company’s ACRA Business Profile and your NRIC or FIN card. Make sure that the documents are clear and legible.
- Once you have submitted your application form and documents, UOB will review your application. If necessary, they may contact you for additional information or clarification.
- After UOB has reviewed your application, they will send you a recommendation for approval. If your application is approved, you will receive an email with instructions on how to activate your eBusiness account.
- Finally, you will need to activate your eBusiness account by logging in to your UOB Internet banking account and following the instructions provided.
Congratulations! You have successfully applied for a UOB eBusiness account and can now enjoy the benefits of zero fees on FAST and GIRO transactions, as well as more than S$500 of annual savings.
UOB eBusiness Singapore: Financial Transactions and Services
If you’re looking for a comprehensive suite of financial transactions and services for your business, UOB’s eBusiness account has got you covered. Here are some of the digital banking solutions, payment and transfer services, and account management features that you can expect:
UOB eBusiness Singapore: Digital Banking Solutions
UOB’s eBusiness account provides various digital banking solutions to help you manage your finances. With UOB Infinity, you can access your account information, make payments, and manage your cash flow from your mobile device or desktop.
You can also enjoy the convenience of UOB’s Business Internet Banking service, which offers a range of features such as account reconciliation, digital collection, and bulk services.
Payment and Transfer Services
UOB’s eBusiness account offers various payment and transfer services to help you manage your cash flow efficiently. You can make FAST, PayNow, and GIRO payments and collections for free. You can also enjoy the convenience of UOB’s PayNow Corporate and UOB mCollect services, which allow you to receive payments from your customers quickly.
UOB eBusiness Singapore: Account Management
UOB’s eBusiness account provides a range of account management features to help you stay on top of your finances. You can enjoy the convenience of a UOB Global Currency Account, which allows you to hold and manage multiple currencies in a single account. You can also apply for a Corporate ATM card and a chequebook to help you manage your cash flow more efficiently.
In conclusion, UOB’s eBusiness account provides a comprehensive suite of financial transactions and services that can help you easily manage your business finances. Whether you’re looking for digital banking for business, payment and transfer services, or account management features, UOB’s eBusiness account covers you.
UOB eBusiness Singapore: Costs and Fees
When managing your business finances, understanding the costs and fees associated with your account is crucial. With a UOB eBusiness account, you can enjoy a range of benefits, including zero fees and more than S$500 of annual savings on FAST and GIRO transaction fees.
Understanding Account Fees
To open an eBusiness account, you must make a minimum deposit of S$1,000. Additionally, there is a minimum balance requirement of S$5,000 for the UOB eBusiness Account and S$10,000 for the UOB Corporate Current Account.
If your account balance falls below the minimum required, you will be charged a fall-below fee of S$15 per month for the UOB eBusiness Account and S$35 per month for the UOB Corporate Current Account.
In terms of service fees, you will be pleased to know that there are no charges for the UOB eBusiness account. However, there might be fees for certain services, such as foreign cheque collection, inward and outward remittance, and cash deposits and exchange services. You can find a comprehensive list of fees on the UOB website.
Fee Waivers and Rebates
UOB offers several ways to waive account fees and receive rebates. For instance, the annual account fee is waived in the account opening year. Moreover, the minimum balance and fall below fee are waived for the first 12 months from account opening.
If you frequently use FAST or PayNow FAST transactions, you can benefit from an SGD0.50 rebate per transaction on up to 60 outgoing FAST or PayNow FAST transactions submitted via the UOB SME app or online per month. Additionally, GIRO transactions are free, and you can receive 100% rebates for Bulk Payroll fees via the UOB SME app or online.
In conclusion, the UOB eBusiness account offers a range of benefits and features that can help you easily manage your business finances. By understanding the costs and fees associated with your account, you can make informed decisions and take advantage of the various fee waivers and rebates available.
UOB eBusiness Singapore: Enhancing Business Operations
If you want to improve your business operations, UOB eBusiness has covered you. With a suite of digital tools and solutions, you can streamline your processes, boost productivity and improve cash flow.
Integration with Business Tools
UOB BizSmart is a powerful digital platform integrating various business tools, including accounting, payroll, point-of-sale (POS) systems and more. By automating manual processes, you can save time and improve business efficiency.
With UOB BizSmart, you can manage your business processes on a single platform, making it easier to keep track of your finances, inventory and sales.
Improving Cash Flow
Working capital is crucial for small businesses, and UOB eBusiness offers a range of digital solutions to help you manage your cash flow. MCollect, for example, is a digital invoicing solution that allows you to receive customer payments faster. With MCollect, you can send invoices via email or SMS, and customers can pay you directly from their mobile devices.
In addition to MCollect, UOB eBusiness offers various solutions to help you manage your cash flow, including working capital loans and overdraft facilities. With these solutions, you can access the funds you need to keep your business running smoothly.
UOB eBusiness is an excellent choice for small businesses looking to improve their operations. With its digital tools and automation solutions, you can streamline your processes, boost productivity and improve cash flow.
UOB eBusiness Singapore: Additional Banking Services
As a UOB eBusiness account holder, you can access various additional banking services to help you manage your business finances more efficiently. Here are some of the critical services that you can take advantage of:
Specialised Accounts
UOB offers a range of specialised accounts to cater to the unique needs of different types of businesses. For example, if you are a society, club, association or clan, you can open a UOB Society/Club/Association/Clan Account. This account is designed to help you manage your finances more effectively, with features such as cheque issuance, internet banking, and a dedicated account manager.
Business Support Services
In addition to banking services, UOB provides business support services to help you grow your business. These services include:
- Banker’s Guarantee: UOB can issue a Banker’s Guarantee to help you secure contracts and tenders.
- FX Rate: UOB offers competitive FX rates to help you manage your foreign currency transactions more effectively.
- Infinity: Infinity is UOB’s online platform that provides a range of business support services, including trade financing, cash management, and treasury services.
Overall, UOB’s additional banking services provide a range of options to help you manage your business finances more effectively. Whether you need a specialised account or access to business support services, UOB has got you covered.
UOB eBusiness Singapore: Customer Support and Resources
As a UOB eBusiness customer, you have access to various resources and support to help you manage your account and get the most out of your banking experience.
Getting Help
If you ever need help with your UOB eBusiness account, contact the UOB Business Banking Hotline at +65 6259 8188. The hotline is available from 8 am to 8 pm, Monday to Saturday. Alternatively, you can email UOB using the online contact options available on their website or visit a branch for face-to-face help.
UOB also offers an interactive dashboard with customised insights and analytics to help you manage your account better. This dashboard is available to all UOB eBusiness customers and provides a real-time view of your account balances, transactions, and more.
UOB eBusiness Singapore: Educational Materials
UOB provides a range of educational materials to help you better understand your account and make the most of your banking experience. These materials include articles, videos, and webinars on accounting, payroll, and minimum balance requirements.
UOB also offers alerts to help you stay on top of your account activity. You can set up alerts to notify you of any transactions, changes to your account balance, or other vital account activity.
Whether a new customer or a long-time user, UOB eBusiness offers a range of resources and support to help you manage your account and get the most out of your banking experience. With a minimum balance of S$10,000 and the ability to work with permanent residents and Wise, UOB eBusiness is an excellent choice for businesses looking for a reliable and feature-rich banking solution.
Frequently Asked Questions
How can I get started with a UOB eBusiness account?
To start with a UOB eBusiness account, visit any UOB branch or apply online through the UOB website. You must provide some basic information about yourself and your business, such as your identification documents and business registration details.
Once your application is approved, you will receive your account details and can use your UOB eBusiness account immediately.
What are the benefits of using the UOB eBusiness app?
The UOB eBusiness app is a convenient way to manage your UOB eBusiness account on the go. The app lets you view your account balance and transaction history, transfer funds, pay bills, and more.
You can also enjoy exclusive rebates on transactions made through the app, such as SGD0.50 rebate per transaction on up to 60 outgoing FAST or PayNow FAST transactions submitted via the UOB SME app or online per month. Additionally, you can enjoy 100% rebates for Bulk Payroll fees via the UOB SME app or online.
Is there a minimum balance required to maintain a UOB eBusiness account?
Yes, a minimum balance requirement is SGD10,000 to maintain a UOB eBusiness account. However, this requirement may vary depending on your account type and the specific terms and conditions that apply.
What are the fees associated with a UOB eBusiness account?
Various fees may be associated with a UOB eBusiness account, such as account opening fees, transaction fees, and maintenance fees. These fees may vary depending on your account type and the specific terms and conditions that apply. It is recommended that you check with UOB for the latest fee schedule.
How does the UOB Infinity app differ from the UOB SME app?
The UOB Infinity app is designed for larger businesses and offers more advanced features like trade financing and cash management. The UOB SME app, on the other hand, is designed for small and medium-sized businesses and offers basic features such as account management and transaction processing.
What are the perks of the UOB Infinity fast transaction rebate?
The UOB Infinity, a fast transaction rebate, offers rebates on outgoing FAST transactions made through the UOB Infinity app. With this rebate, you can save up to SGD2,000 monthly on your transaction fees. Additionally, you can enjoy other benefits, such as preferential forex rates and trade financing solutions.
