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Epica FAQ Series

When opening a Singapore bank account, when should the initial balance be paid and to whom?

Accounting

When opening a Singapore bank account, when should the initial balance be paid and to whom?

When opening bank account for a Singapore Company, when and to whom to pay initial deposit?


Once you have opened an account and it is fully active, you would be required to transfer an initial balance to your bank account.

However, some banks require the initial balance to be paid at the time of submitting bank account opening forms.

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New Company Setup

S$2,600
S$4,000

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S$1,100
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S$1,000
S$1,500

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New Branch Setup

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S$5,000

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New Setup

S$2,500
S$3,000

BVI Company

Singapore Bank Account

US$2,200
US$3,000

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