Card review - UOB corporate cards in Singapore

United Overseas Bank or UOB is a well-known and established financial institution in Asia with its headquarters in Singapore.


The bank has been serving many businesses in the region with its banking services. Among all their offerings, UOB corporate cards are quite popular for companies in Singapore to manage their expenses.

Quick overview of UOB corporate cards Singapore


UOB corporate cards or business cards are those that are specifically made for companies to handle their daily operational expense needs and transfer money easily.


A UOB corporate cards works like any other debit or credit card with specific benefits that come along with it.


How to apply


Different UOB cards have different requirements and fees. To apply for these cards, you can head to their site and select the best one for your business depending on your needs.

Terms & conditions

UOB Commercial Cards Cash Rebates - You can choose from an annual rebate or monthly rebate for expenses made from the corporate cards or let your card users earn UNI$ every $5 that they spend.



Complimentary Corporate Liability Waiver Insurance - To protect your business from fraudulent expenses or accidental expenses UOB offers a corporate liability waiver insurance of US$25,000 per card user per annum or US$1,650,000 per company per annum.



Travel Personal Accident Insurance - When you choose to opt for the UOB card with MasterCard as your payment network, you get travel accident insurance of up to USD$50,000. This is a great benefit for traveling business individuals.

Best of UOB corporate cards for SMEs


Below is a UOB corporate card comparison for you to understand their offerings.


UOB Platinum Business Card


Requirements


There are many different requirements to get a UOB Platinum Business Card depending on whether you are a sole proprietor, partnership, limited liability partnership, or limited company. 


Documents needed if you’re a Sole Proprietor:


• Cards Application form

• Specimen Signature form

• Business Banking Facilities form

• Latest Notice of Assessment for the past 2 years

• Passport of the Sole proprietor/NRIC


Documents needed if you have a Partnership company:


• Cards Application form

• Board Resolution (signed by all partners)

• Specimen Signature form

• Business Banking Facilities form

• Latest Notice of Assessment of the past 2 years and/or Audited Financials (latest 2 years)

• The Passport of all partners or NRIC


Documents needed if you have a Limited Liability Partnership:


• Cards Application form

• Board Resolution (signing condition depends on their quorum requirement)

• Specimen Signature form

• Business Banking Facilities form

• The latest Notice of Assessment of the past 2 years and/or Audited Financials (latest 2 years)

• Passport of the Directors/Shareholders and Cardholders or NRIC


Documents needed for Limited Companies:


• Cards Application form

• Board Resolution

• Specimen Signature form

• Business Banking Facilities form

• The last 2 years of Notice of Assessment and/or Audited Financials of the last 2 years

• NRIC/Passport for Directors/Shareholders and Cardholders


Fees


The annual fee for this card is $180 and the replacement card fee is $20.


Cashback


Using the card you can cashback in the form of UOB$ at select outlets throughout the year including Guardian, Cold Storage, and more.


Spending categories


No restriction on any particular category. 


Rewards


Using the card gets you access to exclusive privileges and discounts from select suppliers.


Rebate


You can choose between a monthly rebate of 0.3% or get UNI$ for every $5 that is spent. 


Key perks


E-commerce purchase protection and dining privileges at over 1000 outlets.


Overall review


A great expense card for businesses with different categories of expenses to earn cash rebates and gain access to exclusive discounts.


2. UOB Business Plus Card


Requirements


Same as UOB Platinum Business Card.


Fees


The annual fee for the card is $96 which is waived for the first two years and the replacement card fee is $20.


Minimum spend limit


No minimum spending limit.


Cashback


This card provides rebates instead of cashback.


Rewards


You get access to UOB’s dining privileges, commercial privileges program, and complimentary travel insurance of up to S$500,000 for Travel & Personal Accident.


Rebate


The card offers a rebate in the form of UOB$ when you spend at specific outlets including Cold Storage, Guardian, and more throughout the year.


Key perks


Using this card you get a 60 days repayment period with 0% interest. 


Overall review


A great card for businesses with a need for constant cash flow as you can withdraw from your credit limit and easily pay in instalments over your selected period.


3. UOB Business Debit Card


Requirements


In order to get a UOB Business Debit Card you must fulfill the following requirements:


• You/the applicant must be 18 years old or above.

• You must provide the Passport of all applicants or give a front and back photocopy of your NRIC

• An eligible SGD-denominated UOB Business/Corporate Current Banking Account

• A duly-executed Account & Services Resolution (ASR) [not applicable for Sole Proprietor]


Fees


The annual fee for this card is $36 and it can be waived if you spend a minimum of $2400 in a year. The replacement card fee is $20.


If you want a customized logo for your card you must pay a one-time fee of $168.


When you withdraw cash from an ATM overseas you will be charged $5.(This amount is waived in all UOB ATMs in Malaysia, Thailand, and Indonesia for regional cash)


Cashback


Earn UOB$ as cashback from participating outlets throughout the year. 


Spending categories


This is an all-in-one debit card that is great for spending anywhere thanks to its acceptance at over 39 million establishments and over 3 million ATMs worldwide.


Rewards


Access to dining and commercial privileges program. 


Rebate


You earn a 0.3% rebate that will be transferred to your UOB Business Current Account the following month.


Wireless payment options


Can be synced with contactless payment platforms for quicker payments.


Key perks


Global ATM accessibility for cash.


Overall review


A great business debit card for corporate employees who need access to cash or just to pay for things in general across the world.

How Volopay corporate cards can help in cash flow management for businesses


UOB corporate cards are great functional cards that do exactly what they’re meant to do. But financial business needs are evolving and there are much better solutions out there.


Volopay doesn’t just offer you corporate cards but also a complete ecosystem to manage all expenses through our web platform and mobile app.


Here are some of the unique benefits of choosing Volopay corporate cards.


Automated accounting


Thanks to our native integrations with industry-leading accounting tools like Xero, NetSuite, Deskera, QuickBooks, and more!


This helps you easily sync all your corporate card expenses with your accounting software.

Physical cards for all employees


Help you manage and keep track of budgets based on how each team and individual is spending.

Virtual cards


Unlimited virtual card creation for all online expenses and subscriptions with built-in spend controls and tracking.

Cheaper FX rates


Competitive FX rates so your business saves money on international transactions.

Custom controls for each card


Freeze, block, turn on/off ATM access & online purchase, and increase or decrease the spending capacity of each card to stay on top of all company expenses. 


Also read, Card review: Citibank corporate credit card in Singapore

FAQs

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