Called the DBS Entrepreneur’s Account for Start-ups, the bank account offers certain services at no cost as well as discounts on a business insurance plan, reported Channel NewsAsia on 13 July.
The Singapore bank is restricting the bank account eligibility to businesses under six-months old.
The new accounts allow start-ups to be “more affordable in terms of starting a bank relationship with us, giving them more convenience. And, also to introduce something which is a big cost for them which is our insurance scheme,” said DBS Bank’s head of enterprise banking Edwin Khoo.
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