Which banks can I open a Singapore corporate bank account with?

Companies usually choose from local Singapore banks (DBS, OCBC, UOB), branches of Korean banks (Hana, Woori, Shinhan), foreign banks (such as Citibank) and digital banks (Airwallex, ANEXT, Aspire).

Each bank has different requirements for new companies, minimum balances and in-person visit requirements, and whether an account is opened depends on the bank's review.

• If a Korean head office is setting up a subsidiary: many use branches of Korean banks, where consultations in Korean and verification of head office transactions are easier.
• If you are an individual founder (new company): local banks have many requirements for new companies, so digital banks are often considered first.
• If the company has a track record or large deposits: foreign banks with higher minimum balances can also be considered.

Lee Kim Alliance provides a corporate bank account opening support service.