BOC current accounts

Opening an account with one of Sino-Singapore's biggest banks.

If you’re looking for a current account to meet your daily transaction needs, the Bank of China (BOC) has a few options to choose from – be it a SGD/RMB denominated or multi-currency accounts.

In this guide, we’ll cover the various current accounts offered by BOC, their benefits and fees, as well as how to sign up for them.

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S$0

Monthly fee

S$10,000

Minimum Initial Deposit

S$0

Fall below monthly fees

Details

Bank of China (BOC) current accounts come with a huge range of features and fees — which should you choose from? This guide will help you answer that, by exploring the accounts offered by BOC and how to sign up for them.

About Bank of China Singapore

Established on 15 June 1936, Bank of China Singapore Branch holds a qualifying full bank license (QFB) and has a large network of branches and ATMs in Singapore. Its offers a full suite of banking services, including corporate banking, personal banking and investment banking.

What current accounts does BOC offer?

  • Multi-currency account. This BOC account covers both SGD and nine foreign currencies.
  • Current account. This is a non-interest bearing statement-based chequing account.
  • RMB current account. This is a non-interest bearing, Renminbi-denominated current account. It allows for RMB remittance, RMB exchange, cash deposits and withdrawals.

Key features

BOC offers accounts come with a variety of features, often specific to the account type. However, you may generally expect these traits.

  • Preferential interest rates
  • Quick sign-up processes
  • Reward schemes
  • Strong customer service support

Fees and limits

Although the fees differ across accounts, you may encounter the following costs.

  • Fall-below fee. This type of fee is charged when your monthly account balance falls below a certain amount. For example, the Singapore Dollar Savings Account charges $2 if your monthly average balance falls below $2,000.
  • Early account closure fee. You may be charged a fee if your account is closed before a set time period has passed. In general, the early closure fee for BOC accounts is $30.
  • Commission in-lieu of exchange for foreign currency cash deposits (RMB). You may be subject to a 0.8% fee when exchanging foreign currency cash deposits in RMB, with a minimum fee of RMB 100.
  • Miscellaneous fees. Such fees could be due to costs related to replacing a lost card, returning a cheque due to technical reasons and losing your passbook.

How to sign up

Singaporeans and PRs applicants can apply online with their SingPass, a simple and secure application process that speeds up the process by retrieving your personal details and income information directly from MyInfo. Alternatively, you can also fill up an online application form listed on BOC website if you don’t have a SingPass account.

If you’re a foreigner, you’ll need to apply in-person at any BOC branches.

Like any other bank accounts in Singapore, make sure that you meet the eligibility criteria for the specific account that you’re interested in and have all the relevant documents you need on hand.

Eligibility criteria

The specific eligibility criteria may vary depending on the specific BOC account you’re applying for, but you’d typically need to meet these requirements:

  • Age. You must be at least 18 years of age
  • Residency. Singapore citizen, permanent resident or foreigner.

Required documents

Make sure you have the following information and documents ready when you apply:

  • Singapore citizens and permanent residents. ID and the latest copy of a proof of residence (e.g. local utility bill, local telecommunication bill, local bank statement) for in-branch application.
  • Foreigners with a valid permit. Original passport, Employment Pass/ S Pass/ Student Pass/ Long-term Social Visit Pass, proof of address (bank statement/ utility bills/ mobile bill/ tenancy agreement within 3 months)

The verdict

BOC offers plenty of accounts specifically catering to SGD-RMB transaction needs. It’s therefore especially useful if you regularly make payments in RMB, pay bills in RMB, receive your salary in RMB or wish to remit money in RMB. If you’re a Chinese expatriate in Singapore or a Singaporean residing in China, BOC may be perfect for your overall banking needs.

However, make sure that you take the time to shop around and compare options from other banks before signing up.

Compare a range of current accounts in Singapore

1 - 20 of 23
Name Product Mobile View Current Account Monthly fee Minimum Initial Deposit Fall below monthly fees Mobile payments
  • Monthly fee

    S$0

  • Minimum Initial Deposit

    S$0

  • Fall below monthly fees

    S$0

  • Mobile payments

S$0
S$0
S$0
Apple Pay, Google Pay
Wise (formerly TransferWise) is an international account for over 50 currencies, with instant, super-cheap money transfer, a card to spend in any currency, bank details to get paid in 30 different countries and multi-currency direct debits.
  • Monthly fee

    S$0

  • Minimum Initial Deposit

    S$0

  • Fall below monthly fees

    S$0

  • Mobile payments

S$0
S$0
S$0
Apple Pay, Google Pay
Enjoy no monthly fees, competitive currency conversion rates, and spend in over 150 currencies with Revolut’s Standard card.
  • Monthly fee

    S$19.99

  • Minimum Initial Deposit

    S$0

  • Fall below monthly fees

    S$0

  • Mobile payments

S$19.99
S$0
S$0
Apple Pay, Google Pay
An exclusive premium contactless card that allows for unlimited currency exchanges, a free Lounge Pass, and 1% cashback on expenses.
  • Monthly fee

    S$9.99

  • Minimum Initial Deposit

    S$0

  • Fall below monthly fees

    S$0

  • Mobile payments

S$9.99
S$0
S$0
Apple Pay, Google Pay
On top of standard Revolut perks, this debit card comes with unlimited spending and free overseas ATM withdrawals, up to $700 per month.
  • Monthly fee

    S$1

  • Minimum Initial Deposit

    S$5,000

  • Fall below monthly fees

    S$0

  • Mobile payments

S$1
S$5,000
S$0
Samsung Pay
This combined current and savings account offers three interest tiers based on the size of your account balance.
  • Monthly fee

    S$2

  • Minimum Initial Deposit

    S$0

  • Fall below monthly fees

    S$2

  • Mobile payments

S$2
S$0
S$2
Apple Pay, Google Pay, Samsung Pay
This fee-free starter account offers 4x higher interest than regular savings accounts and a customisable debit card.
  • Monthly fee

    S$2

  • Minimum Initial Deposit

    S$1,000

  • Fall below monthly fees

    S$8.50

  • Mobile payments

    S$2
    S$1,000
    S$8.50
    NETSPay, MaybankPay
    Benefit from competitive interest rates and chequing facility offered by this account.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$15,000

    • Fall below monthly fees

      S$15

    • Mobile payments

    S$0
    S$15,000
    S$15
    Apple Pay, Google Pay, Samsung Pay
    An interest-bearing checking account with competitive interest rates.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$0

    • Fall below monthly fees

      S$5

    • Mobile payments

    S$0
    S$0
    S$5
    Apple Pay, Samsung Pay
    Unlock up to 2.38% p.a. of bonus interest on the first S$80,000 deposit and access up to 14 different currencies with this account.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$2,000

    • Fall below monthly fees

      S$2,000

    • Mobile payments

    S$0
    S$2,000
    S$2,000
    Apple Pay
    This multi-currency account offers a wide range of banking features and supports 11 global currencies, including USD and RMB.
    • Monthly fee

      S$1

    • Minimum Initial Deposit

      S$1,000

    • Fall below monthly fees

      S$10

    • Mobile payments

    S$1
    S$1,000
    S$10
    Samsung Pay
    Enjoy the convenience and flexibility to conduct your transactions in a wide array of foreign currencies.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$1,000

    • Fall below monthly fees

      S$7.50

    • Mobile payments

    S$0
    S$1,000
    S$7.50
    Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, NETSPay
    Issue cheques and conduct day-to-day financial management efficiently with this non-interest bearing current account.
    • Monthly fee

      S$2

    • Minimum Initial Deposit

      S$3,000

    • Fall below monthly fees

      S$7.50

    • Mobile payments

    S$2
    S$3,000
    S$7.50
    Apple Pay, Google Pay, Samsung Pay
    This all-in-one statement-based account comes with competitive interest rates and chequeing facilities.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$15,000

    • Fall below monthly fees

      S$15

    • Mobile payments

    S$0
    S$15,000
    S$15
    Apple Pay, Google Pay, Samsung Pay
    Get 2% cash rebate with every EZ-Link Reload and 1% cash rebate on any other transaction with this savings account.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$0

    • Fall below monthly fees

      S$0

    • Mobile payments

    S$0
    S$0
    S$0
    Apple Pay, Samsung Pay
    Enjoy attractive bonus rates when you credit your salary, plus 1% cash rebates on eligible Mastercard spend with this chequeing account.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$0

    • Fall below monthly fees

      S$5

    • Mobile payments

    S$0
    S$0
    S$5
    Apple Pay, Google Pay, Samsung Pay, NETSPay, PayLah!
    Multiply your savings with bonus interest rates when you credit your income and meet all the account's criteria.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$15,000

    • Fall below monthly fees

      S$15

    • Mobile payments

    S$0
    S$15,000
    S$15
    Apple Pay, Google Pay, Samsung Pay
    This savings account offer up attractive step-up balance up to0.13% p.a. for month-to-month balance growth.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$350,000

    • Fall below monthly fees

      S$0

    • Mobile payments

    S$0
    S$350,000
    S$0
    Apple Pay, Google Pay, Samsung Pay
    Earn premium interest rates based on your daily balance with this chequeing account.
    • Monthly fee

      S$0

    • Minimum Initial Deposit

      S$1,334

    • Fall below monthly fees

      S$5

    • Mobile payments

      S$0
      S$1,334
      S$5
      NETSPay, PayLah!
      Manage your finances conveniently with this checking account in USD and other major foreign currencies.
      • Monthly fee

        S$10

      • Minimum Initial Deposit

        S$1,000

      • Fall below monthly fees

        S$10

      • Mobile payments

      S$10
      S$1,000
      S$10
      Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, NETSPay
      Transact, issue cheques and manage your USD deposits conveniently within a single account.
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      Disclaimer: Interest rates are applicable for deposits between S$1,000 and S$49,999. Interest rate and initial deposit are shown in Singapore dollars. Please check with the provider for deposits and rates in other amounts and currencies.

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