Opening a Corporate Bank Account
With the increase in compliance checks and anti-money laundering procedures, opening a corporate bank account becomes harder and more tedious nowadays. Singapore banks strengthen the screening practices which means the applicant may be required to submit a high number of documents to make sure that the company is not involved in anything illegal.
Newly-incorporated companies face many challenges before they can successfully open an account. Others need to wait for months or if you are unfortunate enough your application will not be successful and you move on to another bank and start the entire account application process all over again.
Save yourself from the hassle of filling up bank application forms, collating all the required documents, and scheduling appointments with the bank officers. Although the approval of opening the bank account relies solely upon the discretion of your chosen bank, Accmaster can make the application process less complex and easy for you.
Why Choose Accmaster for Banking Introduction?
Opening a corporate bank account may be difficult but it is possible to do so. At Accmaster, we first understand your business, its structure, and the potential profitability of the Company so that you can provide as much information and documents to the bank to increase the speed and probability of account opening approval. We offer this service at the most reasonable cost.
1. Wide banking network.
We work with different local banks in Singapore to give you better options. 
2. Valued partner awardee of OCBC
3. and UOB
We have established trust with these two banks over the years which makes it very easy for us to introduce our clients to them. We will simply schedule a meeting with the relationship manager to start the account opening process.
4. Local banking expertise
Working with different local banks gives us familiarity with the procedures and requirements of each local bank. With our expertise, we can advise you on what additional information you can prepare to aid the bank with a better understanding of your business.
Our Easy Process
- Understand your Company - Accmaster will study your business type, structure and potential probability and gives you heads up on what additional documents you may need to provide to the bank.
- Prepare and verify documents - We will prepare all the bank form necessary for account opening.
- Schedule meeting with the bank officer - We arrange your meeting with the bank officers. We may join the meeting if the you need our presence.
- Bank account approval - We will serve as liaison officer if there are additional documents or information the bank may require until the approval of bank account.
What are the documents required in opening a corporate bank account?
Below are the basic documents required to open a bank account. This list does not apply to all banks since different banks have their own set of standards and required documents.
- Director’s resolution to open a bank account
- Copy of Company’s certificate of incorporation
- Copy of Company’s ACRA business profile
- Copy of M&AA or Constitution
- NRIC of all Singapore resident directors and authorized signatories
- Passport copy of all foreign directors and authorized signatories (if any)
- Proof of residential address of all directors and authorized signatories
