SME BUSINESS ACCOUNT

A business account is a bank account opened in the company’s name that is used for processing day-to-day business receipts, payments to suppliers, payroll for employees and other business expenses like office rents and utility payments. Any records of income and expenses processed through a company’s business account will be used for filing tax returns.

To apply for an OCBC SME Business Account, your business must meet the following requirements:

• Is a Hong Kong (HK) registered company
• Business owner must have a HK permanent resident ID card
• Have a sole proprietor; Partners or up to 2 directors; single layer ownership
• Incorporated with a local UBO (Ultimate Beneficial Owner)

Please refer to the Online Business Account Opening guide to identify the documents required.

The OCBC SME Business Account is also your Multi-Currency Account, offering you the ability to store up to 15 currencies in one account. It also lets you access business banking services, such as bulk payroll, accounting, business loans, business insurance, business debit cards and more. With an OCBC SME Business Account, you can easily file tax returns with existing business transaction records. It will help avoid confusion with income and expenses from your personal account and make organising business expenses easier.

There are no charges to open an OCBC SME Business Account from now till 30 September 2024. Please refer to the Terms and Conditions Governing the SME Business Account Welcome Offer. This offer is exclusively available to customers who utilise digital banking services.

For other fees and charges, please refer to our Business Account Pricing Guide and Business Account Terms and Conditions for more details.

Once you have opened your SME Business Account successfully, you may access our business internet banking platform, OCBC Velocity, with no extra charges.

You will get your OCBC SME Business Account in as fast as 1 working day¹.