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
Attractive returns
Attractive returns in terms of higher interest rates depending on the currency of your deposit.
Flexibility
Flexible placement periods, ranging from overnight to 12 months.
Earn interest
Call account pays interest subject to a specified minimum average balance.
Available in major foreign currencies
Foreign currencies accepted for deposit are US Dollar, Australian Dollar, New Zealand Dollar, Sterling Pound, Euro, Hong Kong Dollar, Singapore Dollar and Japanese Yen.
Type of Foreign Currency Account
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Account
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Description
| Account | Description |
| UOB Foreign Currency Time Deposit Account | With the UOB Foreign Currency Time Deposit Account, earn interest by depositing your foreign currencies for a period ranging from 1 to 12 months. |
| UOB Investment Foreign Currency Account | Enjoy the flexibility of withdrawing your foreign currencies as and when you like, with option to place your foreign currencies in the UOB Investment Foreign Currency Account. You get to earn interest, depending on your minimum average balance. No minimum deposit is required. You can enjoy the flexibility of truly being in control of your own money. |
| UOB Trade Foreign Currency Account | Maximize your trade proceeds with our Foreign Currency Account. No minimum deposit is required. |
| Account |
| UOB Foreign Currency Time Deposit Account |
| UOB Investment Foreign Currency Account |
| UOB Trade Foreign Currency Account |
That's not all! No minimum deposit is required. This means that you can enjoy the flexibility of truly being in control of your own money.
Fixed Deposit Account (Foreign) Rates - Corporate
View the latest rates here
Supported Currencies
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Currency
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Minimum Monthly Average Balance
| Currency | Minimum Monthly Average Balance |
| US Dollar | 50,000 |
| Australian Dollar | 50,000 |
| Hong Kong Dollar | 150,000 |
| Sterling Pound | 10,000 |
| Euro | 50,000 |
| New Zealand Dollar | 50,000 |
| Singapore Dollar | 50,000 |
| Currency |
| US Dollar |
| Australian Dollar |
| Hong Kong Dollar |
| Sterling Pound |
| Euro |
| New Zealand Dollar |
| Singapore Dollar |
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 |
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Account & Transact
Basic Current Account
Get the most for your business with our Basic Current Account specially for SMEs.
- Enjoy low minimum opening balance for your newly established business
- Basic banking services at minimal costs
- Protected by PIDM up to RM250,000 for each depositor
Account & Transact
Business Current Account
Fundamental Business Current Account for Non-SME, new startups or young companies. Designed to provide the greatest level of transaction flexibility and manage your business cashflow.
- An account with 24/7 access for your daily banking
- Enjoy flexibility of managing funds
- Protected by PIDM up to RM250,000 for each depositor
Account & Transact
Trade Foreign Currency Account
Wide range of FOREX solutions. UOB Trade Foreign Currency Account is the most efficient way to manage your foreign currencies.
- Attractive returns in terms of higher interest rates depending on the currency of your deposit
- Call account pays interest subject to a specified minimum average balance
- Foreign currencies accepted for deposit are US Dollar, Australian Dollar, New Zealand Dollar, Sterling Pound, Euro, Hong Kong Dollar, Singapore Dollar and Japanese Yen
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