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3 cash management pitfalls SMEs should be aware of
Proper cash flow management is crucial for SMEs. Here are some pitfalls you should be aware of and avoid them.
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5 ways to help your small business survive
UOB continues to extend unwavering support, especially in these challenging times through our value-added services under UOB BizSolution/BizMoney for SMEs.
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Understand the risks of import / export trades
Be aware of the trade financing and solutions available so that you can understand how to better manage your cash flow and cross-border trading risks.
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Why business insurance can help SMEs prosper
Business insurance protects company from unforeseen issues, improves the company’s credibility and boost employee productivity.
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Benefits
Complimentary DuitNow, Interbank GIRO and RENTAS services
Unlimited fee waivers for DuitNow, Interbank GIRO and RENTAS transactions via UOB Infinity/UOB SME. Transactions made over the counter will incur standard charges.
High daily interest
Earn high daily interest on your deposits via Overnight Deposit Services.
Low minimum initial deposit
Minimal initial deposit of RM25,000 to open.
Stay updated with complimentary UOB Infinity/UOB SME
Convenient banking with UOB Infinity/UOB SME & 24-hour Electronic Banking Centres.
Preferential Rate for X'press Bank Guarantee
Enjoy X'press Bank Guarantee issuance/amendment fee at only 1.20% p.a.
Additional Features
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Feature
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Description
| Feature | Description |
| Bank anytime online | Complimentary access to UOB Infinity/UOB SME |
| Be notified | Complimentary UOB eAlerts! Service Package 1 (subscription for 1 email address) |
| MT103 Acknowledgement | Complimentary subscription for MT103 Acknowledgement Copy via UOB Infinity |
| Feature |
| Bank anytime online |
| Be notified |
| MT103 Acknowledgement |
Rates and Fees
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Feature
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Details
| Feature | Details |
| Minimum initial deposit | RM25,000 |
| Monthly service fee | RM25 (for Current Account monthly average balance below RM25,000. Minimum balance waived for first 6 months of account opening^) ^Applicable to NEW accounts opened from 1 June 2021 |
| Cheque clearing fee | RM0.50 per cheque |
| Early closure fee | RM20, if closed within 3 months |
| Feature |
| Minimum initial deposit |
| Monthly service fee |
| Cheque clearing fee |
| Early closure fee |
Visit our Fees and Charges page here for more details
Interest Rates
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Daily End Balance (RM)
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Daily Interest Rates (% p.a.)
| Daily End Balance (RM) | Daily Interest Rates (% p.a.) |
| 50,000.01 to 750,000.00 | 0.05 |
| 750,000.01 to 1,500,000.00 | 0.10 |
| 1,500,000.01 to 3,000,000.00 | 0.38 |
| 3,000,000.01 and above | 1.48 |
| Daily End Balance (RM) |
| 50,000.01 to 750,000.00 |
| 750,000.01 to 1,500,000.00 |
| 1,500,000.01 to 3,000,000.00 |
| 3,000,000.01 and above |
Interest rates effective 19 September 2022.
Requirements
Sole Proprietor
Checklist of documents required for Sole Proprietor
- Identity Documents - MyKad(s) / NRIC(s) / Passport(s)
- Proof of Business Address (if registered address on official document is different from EXPERIAN search)
- Proof of Residential Address (where address is different from MyKad biometric or for foreigners)
- Certificate of Registration of Business (Borang D/E)
- Latest Trading / Business License
- Business Registration Information Form: for Sabah - Form P.K. 2960 (L) - 94 | for Sarawak - Form R.20-Pind 1/86
Partnership
Checklist of documents required for Partnership
- Identity Documents - MyKad(s) / NRIC(s) / Passport(s)
- Proof of Business Address (if registered address on official document is different from EXPERIAN search)
- Proof of Residential Address (where address is different from MyKad biometric or for foreigners)
- Account & Services Resolution
- Certificate of Registration of Business (Borang D/E)
- Latest Trading / Business License
- Business Registration Information Form: for Sabah - Form P.K. 2960 (L) - 94 | for Sarawak - Form R.20-Pind 1/86
Limited Liability Partnership
Checklist of documents required for Limited Liability Partnership (LLP)
- Identity Documents - MyKad(s) / NRIC(s) / Passport(s)
- Proof of Business Address (if registered address on official document is different from EXPERIAN search)
- Proof of Residential Address (where address is different from MyKad biometric or for foreigners)
- Notice of Registration
- Certificate of Registration of Business
- Limited Liability Partnership Agreement
- Account & Services Resolution
Private Limited Company
Checklist of documents required for Private Limited Company
- Identity Documents - MyKad(s) / NRIC(s) / Passport(s)
- Proof of Business Address (if registered address on official document is different from EXPERIAN search)
- Proof of Residential Address (where address is different from MyKad biometric or for foreigners)
- Account & Services Resolution
[Companies Act 1965]
- Certificate of Incorporation
- Form 44 - Notice of Situation of Registered Office and of Office Hours and Particulars of Charges, where applicable
- Form 49 - List of Directors, Managers and Secretaries
- Form 24 - Return of Shareholdings
- Memorandum and Articles of Association
[Companies Act 2016]
- Certificate of Incorporation, where applicable
- The Application of Registration of a Company form or Notification of Change in the Register of Directors, Managers and Secretaries form or latest Form 49, whichever is applicable
- The Application for Registration of a Company form or Return for Allotment of Shares form or Form 24, whichever is applicable
- The Application for Registration of a Company form or Notification for Change in the Registered Address form or Form 44, whichever is applicable
- Constitution
- Memorandum and Articles of Association
Society / Club / Association
Checklist of documents required for Society / Club / Association
- Identity Documents - MyKad(s) / NRIC(s) / Passport(s)
- Proof of Business Address (if registered address on official document is different from EXPERIAN search)
- Proof of Residential Address (where address is different from MyKad biometric or for foreigners)
- Certificate of Registration
- Constitution, Rules and/or By-laws
- Statement of particulars of the present principal office bearers
- Minutes of Committee Meeting
- Account & Services Resolution
Terms and Conditions Deposit Insurance System |
Frequently Asked Questions
What is the Current Account BizCA+ Program (BizCA+)?
BizCA+ (Business Current Account) for short is a business depository current account denominated in Ringgit Malaysia (MYR).
What is the initial deposit to open the BizCA+ Account (Business Current Account)?
You can apply for the BizCA+ Account (Business Current Account) with an initial deposit of just RM25,000.
How will the BizCA+ Account (Business Current Account) benefit me or my business?
- Earn high daily interest on your deposits via Overnight Deposit Services
- Complimentary DuitNow, Interbank GIRO and RENTAS services via Infinity or UOB SME
- Preferential Rate for X'press Bank Guarantee with 1.20%p.a for issuance or amendment fee
What is the Overnight Deposit Service (“ODS")?
ODS with interest rate account as stated in BizCA+ micropage in UOB Malaysia’s corporate website www.uob.com.my. ODS is a bank-managed account that generates interest based on the amount swept from your operating account at the end of the day. The balances are swept back to the current account before the start of the day. The customer does not need to worry because everything is handled automatically.
What is the interest rates can be earn?
Interest rates effective 19 September 2022
| Daily End Balance (RM) | Daily Interest Rate (%p.a) |
| 50,000.01 to 750,000.00 | 0.05 |
| 750,000.01 to 1,500,000.00 | 0.10 |
| 1,500,000.01 to 3,000,000.00 | 0.38 |
| 3,000,000.01 and above | 1.48 |
Who can apply for BizCA+ Account (Business Current Account)?
Business entities that have:
- Sole proprietor
- Partnership
- Limited Liability Partnership
- Private Limited Company
- Society / Club
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