Starting a new business or a side hustle can be harder than it looks. Everyone has ideas, but not everyone can execute his or her strategy flawlessly. One of the first basic administrative tasks to do when founding a startup is to set up a business bank account in Singapore. Keeping your business transactions separate from personal ones is without a doubt one of the best practices to good financial management. Unfortunately, setting a corporate bank account was not exactly a seamless process – endless paperwork, demands for branch visits, ridiculously high fx rates and fees – until Aspire came in.. Aspire is the 1st business neobank in Singapore to offer a digital Business Account for SMEs, where all processes and features, including the onboarding process, are held entirely online on its platform.
Note: A neobank is similar to a bank, just that it operates exclusively online without the traditional physical branches. This translates to more convenience and cost-savings for the end-user.