Do I Need To Set Up A Local Bank Account Or Can I Use A Neobank?

Photo by Eduardo Soares on Unsplash

Singapore is an amazing place to set up a business. It’s politically stable, has excellent incentives for entrepreneurs and businesses creating employment opportunities for Singaporeans, and is a wonderful place to live.

But a key step in setting up a local company - opening a local bank account - can be a long and complicated process, especially if you’ve come from a country where you’re used to a much simpler process.

Increasingly, Singapore-based businesses are finding solutions other than relying on a local bank account by banking through a neobank. Curious if this might be a solution for your business? Check out this post from our expert team at Accela Finance for more information on what neobanks are and how they work here.