Review - DBS corporate card in Singapore for businesses

Apr 05, 2024

As the largest banking and financial services corporation in Singapore, DBS offers innovative financial solutions for businesses of all sizes and industries.

Whether you are a multinational conglomerate or a small-to-medium business, DBS offers a wide range of corporate cards to ease and streamline business operations.

Packed with exciting discounts and card privileges, choose the right DBS corporate card for your business to unlock maximum benefits.

Looking for corporate credit cards in Singapore? Here we've reviewed the features, benefits, and compared DBS corporate cards with Volopay.

Overview of DBS corporate card

Corporate card payments have dominated the APAC region as of late, with more than 60% of payment revenue processed through corporate cards.

DBS corporate card are a major contributor to this rising phenomenon. DBS offers businesses a variety of virtual and physical corporate cards to exert greater control over their expenses.

From cross-border B2B expenses to domestic payments, the DBS corporate card range caters to companies of all sizes.

DBS cards comparison can be made through the various options available, from flexible repayment periods that manage working capital to dedicated purchase cards to streamline procurement.

DBS corporate card are designed to drive growth and enhance control, ease the reconciliation process, and offer exciting rewards.

Comparing different types of DBS corporate cards

1. DBS business advance debit card

DBS corporate card offers immense savings on monthly expenses. The business advance debit card offers a host of benefits.

DBS offers complimentary travel accidental insurance of up to SGD 350,000 to every cardholder that charges the entire airfare to the card in full.

Safeguard your capital from employee misuse with a complimentary annual coverage of up to USD 25,000 per cardholder and USD 1.65 million for every company, given that your enterprise uses more than or equal to two business advance credit cards.

Not only this, but with DBS business advance credit card, you can easily withdraw money from overseas ATMs bearing the VISA Plus logo active worldwide. 

One must have a DBS business account to be eligible for this corporate card. While no annual fee is charged, a statement retrieval fee of SGD 5.35 is charged per statement beyond the ongoing quarter.

Similarly, merchant sales draft retrieval of the same amount is charged per copy. If your card is lost or stolen, DBS charges SGD 20.10 to generate a new card.

2. DBS platinum business card

The platinum business card is an ideal DBS corporate card for businesses that struggle with having multiple payment methods for different suppliers.

This card allows you to collate all your supplier bill payments onto a single credit card statement.

Against other competitors, DBS cards comparison wise boost your cash flow by extending your credit terms up to 55 days at absolutely no financing cost.

With the DBS platinum business card, users not only enjoy complimentary travel occidental insurance of up to $1 million per cardholder when airfare is charged in full but also offer a complimentary annual coverage against employee misuse similar to that of the DBS business advance debit card.

Earn 1 DBS point for every $5 dollar and redeem it to get exciting vouchers, earn airline miles, rebates, and more.

In order to qualify for the card, users must have an annual income of more than SGD 30,000.

Apart from the standard SGD 5.35 statement retrieval and merchant sales draft retrieval fees, an annual fee of SGD192.60 is levied on users.

On top of this, SGD 45 is charged for any late payment and SGD 20 for every returned cheque and GIRO payment. Users have to pay a high fee of SGD 21.40 for every lost or stolen DBS Platinum business card.

3. DBS world business card

DBS World business card makes corporate travel cost-effective and extremely rewarding.

With this card, users can access luxe airport lounges and indulge in seamless travel experiences.

Apart from a SGD 1 million travel insurance coverage when you use the DBS world business card, get DBS reward points to redeem cash rebates of up to 2% or airline miles.

Not only this, but users also get an exclusive 10X priority pass access that offers up to 10 complimentary visits every year in over a thousand airport lounges around the world.

With the world business card, business owners get a USD 1.65 million employee misuse coverage, dining and entertainment cash rebates in DBS reward points, 24/7 customer service, and a convenient recurring bill payment cycle to take care of your month-based utilities.

To avail of the benefits of the DBS word business card, users must be above the age of 21, earning a minimum of SGD 80,000 annually.

With an annual fee of a whopping SGD 406.60, this DBS corporate card offers a fee waiver of up to 1 year. While the annual fees for this card are steep, it is the best DBS credit card, comparison to others for business leaders who travel frequently.

4. DBS logistics purchasing card

This DBS corporate card, also known as P-card, specifically caters to the logistics industry as the leading contactless card payment solution to streamline the tedious paper-based processes.

DBS logistics purchasing card digitizes the manual operations of the logistics sector efficiently and eliminates cash-based payment methods entirely.

With DBS P-card, users can smoothen their accounts payable reconciliation.

With a credit limit aligned with the logistics sector, users can easily set their preferred credit limit and save time on making purchases. With the DBS P-card, companies can effortlessly and safely make transactions and avoid cash mismanagement.

To be eligible for the DBS logistics purchasing card, the user must be 21 and above. This is one of the best DBS cards comparison to others for the logistics industry, as the annual fees is completely waived off.

You can apply for an unlimited number of P-cards for all your drivers and escape the payment queue.

Additionally, you can also allocate a limit to each cardholder to avoid employee misuse and introduce accountability in your accounts payable management.

5. DBS purchasing card

Unlike the DBS P-card, a DBS purchasing card extends beyond the logistics industry and effectively manages procure-to-pay processes to streamline business operations.

With easier accounts payable reconciliation, users can enjoy enhanced controls with the set limits feature that allows you to restrict spends on every individual card as well as merchant categories.

With this DBS corporate card, users do not have to wait to collect a high volume of processing payments and can save on processing fees even when tackling small value spends.

Users aged 21 years and above are eligible for a DBS purchasing card. You can also enjoy this DBS corporate card for free.

The purchasing card comes with added security and allows all issued cards to be used only after they have been activated by the administrator.

6. DBS virtual card

DBS virtual card is an ideal fit for companies that require their employees to routinely engage in a lot of corporate travel.

With this DBS corporate card, businesses can effortlessly consolidate all their business travel expenditure without the need to issue physical cards to their employees.

With a centralized travel account to maintain travel-related expenses such as airfare, hotels, car rentals, and more, DBS virtual cards also offer complimentary travel accident insurance of up to SGD 1 million when total airfare is charged.

The virtual card protects companies against employee misuse with an added coverage of USD 25,000 per user and USD 1.65 million per company.

To reap its full benefits, users of age 21 and above can avail of the virtual card.

Virtual cards are issued at no annual fee; however, your company must issue two or more virtual cards to be eligible for the complimentary annual employee misuse coverage.

7. DBS corporate charge card

The DBS corporate charge card is a basic card that streamlines your procure-to-pay processes whilst offering travel-related benefits.

Enjoy complimentary travel accident insurance of up to SGD 1 million for every cardholder when the entire airfare is charged to the card.

Additionally, DBS offers complimentary annual coverage against employee misuse in the amount of USD 25,000 per user and USD 1.65 million for every company.

After a careful DBS cards comparison, a corporate charge card is ideal for businesses that desire effective management of their corporate card program, with the ability to block selective cards instantly.

This DBS corporate card comes with no annual fees but an age eligibility requirement of 21 years and above. Businesses can avail of employee misuse coverage only if they hold two or more DBS corporate charge cards.

Related read - Review of Maybank corporate cards in Singapore

Volopay corporate cards for your business

While DBS has a versatile offering in its corporate card section, the problem is that no single card offers comprehensive travel, accounts payable, and virtual card management.

If you are struggling to find an ideal corporate card program after a thorough DBS credit card comparison, we have a better solution.

Volopay is an intuitive expense management software that offers an all-in-one corporate card program for companies with physical and virtual cards for effective spend management.

Our corporate cards come with a flexible credit line that fosters growth and scalability to business operations while helping companies effectively manage cash flow.

With Volopay physical cards, employees can use them as FX cards and process payments while traveling abroad.

Physical cards enforce greater controls with the ability to enable or disable from being used online or in-store, internationally or domestically, or be eligible for ATM cash withdrawal overseas.

Companies can generate an unlimited number of VISA-powered virtual cards that come with their own unique 16-digit number and allows users to manage travel, entertainment expenses, and subscription on the go.

Create virtual corporate cards for specific departments, cardholders, and even special projects or purposes.

Volopay virtual cards eliminate the cumbersome process of reimbursement and enforce accountability with a unified dashboard tracking expenses corresponding to specific cardholders.

With a customizable submission policy, approval workflows, and various security measures such as a maker-checker policy and instant freeze/block facility.

Related read - Review - OCBC corporate credit card in Singapore


How to qualify for corporate card in Singapore?

To qualify for the corporate card program in Singapore, the applicant must be at least 21 years old, own or be an executive authority of an enterprise with a valid Unique Entity Number (UEN) and mandatory registration with the Accounting and Corporate Regulatory Authority (ACRA).

Does using corporate credit cards help build credit scores?

Corporate cards should not affect personal credit as these cards do not require a personal guarantee from the user’s end. However, corporate credit cards definitely impact your business credit score. When used responsibly, corporate credit cards can improve your business credit score favorably.

Can Volopay corporate cards be used internationally?

Absolutely! Volopay corporate cards are VISA-powered and allow you to make cross-border transactions in more than 130 countries. Use it to make B2B vendor payments, travel-related expenses, and more.

Who is responsible for a company credit card?

The company is liable for the company credit card and all payments charged. However, the employee is responsible for diligently reporting expenses incurred on the corporate card to the company.

What are the benefits of business credit cards?

Business credit cards are instrumental in building the company's credit score that can unlock many financing opportunities for the company. On top of that, business credit cards expand the cash flow, track business-related spending, and provide a lot of perks and benefits.

Manage your business expenses with the best corporate card