Employee Direct Deposit Authorization: Fill & Download for Free

There are a few key areas that if we don't solve them, then nothing else matters.First and foremost,Fix the problems with the United States Health Care System.The Federal Budget is inextricably linked to the medical system. Many different attempts have been made to address the issue, with each iteration making the problem worse than the last. All the discretionary spending and military spending, no matter how you cut it up and slash it to pieces, won't make a difference in the Federal budget compared to how health care spending has been growing and will continue to grow.Here's today's budget:And here's the projection for the end of the decadeBasically funding government's share of health care and "pensions" (read: social security) will cost more than we currently take in in taxes as a percentage of GDP.So naturally, we have to fix it our our budget doesn't work anymore. Not at all.What does the Patient Protection and Affordable Care Act do for this? Absolutely nothing. All it does is push everyone into the same old broken system.It turns out that the root of the cause is a government-enforced monopoly in the health care market, thanks to legislation like Certificate of need laws. From the article:A Certificate of Need (CON), in the United States, is a legal document required in many states and some federal jurisdictions before proposed acquisitions, expansions, or creations of facilities are allowed. CONs are issued by a federal or state regulatory agency with authority over an area to affirm that the plan is required to fulfill the needs of a community. The concept of the Certificate of Need first arose in the field of health care and was passed first in New York in 1964 and then into federal law by the Richard Nixon administration in 1972. Certificates of need are necessary for the construction of medical facilities in 35 states and are issued by state health care agencies:For all the states that don't have the appropriately named CON laws, there are laws on the books that are close enough to them.Summary for the layman: If you want to open a clinic, regardless of your credentials and abilities and funding, you must first go to the local health care provider and ask for permission to open up shop.To compare this to the semiconductor business, it would be as if you invented and fabricated a new kind of microprocessor, but in order to sell it you would need permission from Intel. Do you really think Intel would let you compete with them if they had a choice whether or not to let you?There are so many other problems in the medical care system, including the fact that the costs are hidden from you until a month after you get the service (almost the definition of a Racket (crime), and sometimes exactly meeting the definition of a racket in the case of issues like back pain), there is no agreement of price beforehand, there is no real way to opt to accept a cheaper treatment that you believe will be just as effective, and the list goes on. In a monopoly system, there is no way to fix those things. In a free market, however, the consumer can bargain for prices or shop for prices before hand, and as long as people are buying things they will continue to be sold -- including the dirt cheap crap that works as well as the shiny new stuff, such as comparing an old flip phone to a shiny new iPhone 5.The solution: Bust up the monopoly. Nullify all laws that grant any exemption from anti-trust litigation against the health care companies. Also, apply the same thing to medical schools. Bust up the credential-granting monopoly, so a prospective doctor does not need to go 1/4 million dollars in debt as a barrier to entry to the medical profession.Now for the second great issue:Fix the Banking System.One thing most people don't realize is that the private banks have the power to create money. I have addressed this before in previous questions. Most people erroneously believe that somehow loans come from deposits. They are wrong. In a fractional reserve system, the bank issuing credit must have the power to derive the credit ex nihilo (from nothing). Credit spends exactly like money and is therefore in very fact money. The fractional reserve system allows banks to lend out 9 times the amount of capital that they hold. 9 times! Now... if the banks can't create money ex nihilo, then answer me this: Where does the other 8/9ths of the money they lend out come from?This right here is the root of many of our economic problems:The blue is the increase in total systemic debt (credit created minus credit destroyed [paid back]), and the red is the total increase in GDP. Since debt is exactly equivalent to money, the difference between the GDP growth and the debt growth is exactly equal to the amount of new money created that doesn't have something backing it up. In other words, this is what causes inflation. I could go into an explanation of why CPI is a completely bullcrap metric, but I'll leave it at this: inflation is defined as an increase in the money supply without a corresponding equivalent increase in total productive output and goods.Do you want to know why the fast food workers in various places have threatened to go on strike unless minimum wage goes up to $15/hr? This chart is exactly why. Their purchasing power, and yours, have been systematically stolen by those with the power to create money. There's a reason why Article One of the United States Constitution says this quite explicitly:The Congress shall have power [...] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;To provide for the Punishment of counterfeiting the Securities and current coin of the United States;Ultimately, the power to create money and use financial leverage (that's what fractional reserve is -- to use a fraction of one's money, and lever it against something worth much more in order to make larger gains at higher risk) has led to the greatest transfer of wealth in history from the poor to the rich over the past several years:The step up in the wealthiest of the wealthy's take in income happened with the repeal of several of the most important clauses in the Glass–Steagall banking act. Specifically:The Glass–Steagall separation of commercial and investment banking was in four sections of the 1933 Banking Act (sections 16, 20, 21, and 32), along with a fifth related provision (5c).[2] The Banking Act of 1935 clarified the 1933 legislation and resolved inconsistencies in it. Together, they prevented many or most deposit institutions national from:dealing in securities for customersinvesting in most securities themselvesunderwriting or distributing most securitiesaffiliating with companies involved in such similar activitiessharing employees with organizations involved in such similar activitiesConversely, Glass-Steagall prevented securities business from taking deposits.Glass-Steagall effectively prevented deposit-taking institutions from touching the stock market, and prevented institutions involved in stock trades from taking deposits. No financial gains from speculation were allowed to be made with financial leverage. The Gramm–Leach–Bliley Act repealed those statutes, but the banks had been actively working around them since the 1980's:The banking industry had been seeking the repeal of the 1933 Glass–Steagall Act since the 1980s, if not earlier. In 1987 the Congressional Research Service prepared a report that explored the cases for and against preserving the Glass–Steagall act.[3]The banks had been finding loopholes around it, such as with "Savings and Loan" institutions that were not under the same restrictions as banks. That had been going on since the 1980's (when you see the wealth inequality trend start ticking up in the chart).There are many solutions, but they all have the same two basic themes:1) reinstate a rock-solid separation between deposit-taking institutions and financial speculation institutions to prevent the use of financial leverage in speculative ventures. Reinstating Glass-Steagall (or something similar) is a good start.2) Limit the power of private institutions' power to create money ex nihilo. One good solution may be "one dollar of capital" (credit to Karl Denninger, Market-Ticker - MarketTicker Forums), which allows banks to retain the power to create credit, but limits their leverage ratio to a strict 1:1. Others propose that no leverage ought to be allowed, but rather that loans are taken from deposits.On to the third great problem:Our energy policy is inextricably tied to our foreign policy.Some people who really love to kill and enslave other people happen to have a ton of a substance that we love to use to generate energy.Therefore, unless our energy policy moves away from the use of that particular substance, or perhaps finds some other ways to procure the substance, we are stuck having an interest in the region full of murderous dictators. Not only that, but we have to expend military resources to directly protect private shipments of the substance through the region out into the open sea. While our reasons for involvement in wars in the Middle East may not be directly tied to oil, don't let any Republicans fool you into thinking that our interest in the Middle East has nothing to do with oil. The fighting may not be over it, but our interest in the region is.At the same time, this policy is also tied to a large-scale environmental problems, as well as numerous small-scale environmental problems.In short, we need an energy policy that lets us say "lol, don't care" to the murderers who need our money to commit their murders, effectively removing the resources they need to commit the massive scale of murders they commit.We also need an energy policy that, when the stuff runs out, we're not stuck in a crisis because the source of all our comfort and convenience disappears. We also need one that won't ruin our localities or change the way our planet's climate behaves.The solutions aren't as simple as either the Republicans or the Democrats make it seem. Both sides are full of talking head idiots who don't look in and see the complexities involved. Shifts in energy sources usually take more than a single decade to implement, as there is a large amount of infrastructure involved, from building facilities to power distribution to considering health and safety impacts.One appealing partial solution involves development of Thorium-based nuclear power. Since Thorium is abundant in U.S. coal, and we have the Fischer–Tropsch process to convert any arbitrary carbon source into a liquid fuel, a possible solution may be to develop a power plant that takes in coal, extracts the Thorium for energy, then converts the carboniferous matter to liquid hydrocarbon fuel for vehicles. Two energy sources for the price of one (well, if you don't count the energy required for the CTL process as part of the price). It's a long shot and it won't be a quick solution, but I make it as a suggestion. As president, I would most likely cut part of the military's budget and feed that money to seed programs to develop the practical aspects of the technology. Since a fraction of the military budget goes to protecting the energy supply, anyway, it only makes sense that it would come out of their budget.A fourth great problem:Education is far too expensive, and we are getting far too little benefit per dollar out of it.It wasn't always that way. We used to have much better education. We used to spend a lot less on education per person normalized to the people's incomes. In higher education, it used to be you could afford to go to college without loans just by taking a part-time job flipping burgers. Now it's too expensive in most places. We used to have higher literacy rates among high school graduates, and lower need for remedial classes in college.We have problems now.And the costs:http://theivycoach.com/wp-content/uploads/2011/07/College-Tuition-Costs.jpghttp://www.chuckroger.com/wp/wp-content/uploads/2010/08/Education-Costs.jpgYikes.The root of the problem is actually very similar to the root of or previous economic problems as shown before: The availability of cheap money.This video explains why:And the workable solutions are quite varied. One suggestion is simply pulling the free money train from the education industry and making them have to work for our dollars. If it's too expensive, we just don't buy it and they either have to go bankrupt or drop their prices enough for us to pay for it out of our own pockets. A large part of this can be accomplished simply by making student loans dischargeable through bankruptcy.Another solution that I hope takes root is a model called the Nearly Free University: http://www.oftwominds.com/blognov12/nearly-free-university11-12.htmlThe resources already exist, it's just a matter of enough people pulling them together.------------------------------------------------------------------------------------------------------------Those are the key issues. As president, they would be my priorities.But good luck getting me to run for office. Because f*** politics, that's why.

In the US, virtually every employer bigger than a Mom & Pop operation is acutely aware of their exposure to litigation in matters related to personnel before, during and after an employee is hired.While it’s rare for a former employee to take civil action (a lawsuit) against their former employer (and rarer still for the ex-employee to prevail in court), the extreme aversion to any possible risk in corporate America means you’re not going to get much information about a prospective hire.Most will verify information you provide (and some will volunteer it) that is strictly “just the facts”:Verification of their employmentHow long they were employed, with dates of hire and separation: they always say “separation”, a neutral term without inferring why or how their employment concluded. Saying “She was let go on…” or “The date he was laid off was…” or “We fired her on…” leaves little to the imagination, and is enough to support a civil lawsuit (more on this in a sec)Job title at the time of separationLocation and department where they workedVerification of salary (although some companies avoid this one)What they won’t answer (and absolutely won’t volunteer) is:Anything not on the preceding listAny characterization or information about job performance, work ethic, strengths or weaknessesThe terms or reason the employee separated from the companyAnything subjective, a matter of opinion or details that could adversely influence the ex-employee’s hiringThe useless boilerplate questions that I can’t fathom anyone asking or answering: “Would you rehire [ex-employee]?” or “How would their colleagues describe [ex-employee]?” are not asked by anyone who’s a professional or has workplace experienceWhy is so little information provided? And how would the ex-employee even know what was said about them?Because there is zero risk by saying little or nothing, and saying anything carries the risk of time-consuming, expensive, reputation-damaging and generally embarrassing court filings, depositions and investigations by government authorities if complaints are filed with local, state or federal agencies responsible for enforcing labor laws and statutes that govern employers and their activities.The ex-employee will almost never know if their prospective employer’s hiring decision was affected by information received from their ex-employer, and they won’t know what was asked or how it was answered. But a company that doesn’t enforce policies limiting what is conveyed about employees will suffer the cumulative effects of talking about ex-employees: HR and hiring managers talk with peers at other companies, and reputations (positive and negative) tend to go public deservedly or not.If I mention that a national cable television and content conglomerate has terrible morale problems, a majority of you will know what company I’m talking about. The same is true if I infer how sexual harassment is widespread at a giant internet startup that recently went public and whose stock has tanked.I have no direct or evidence-based knowledge to support saying this about either company, and most of you “know” this is true only because others have said the same things. A bad reputation can be a death sentence for a company, and you can imagine how it makes attracting talent and customers extremely difficult.What’s the specific legal risk involved?The specific statutes and ‘causes for action’ are available for you to research online, but the law in general frowns on any activity or behavior that inflicts harm, loss or serious detrimental consequences to a person or entity. This includes tarnishing reputations, but is mostly focused on damage to major life activities; your job, career, income and ability to earn a living are among the biggest factors determining the quality and enjoyment of your life. If your actions can be proven as damaging and responsible for substantial loss, a civil court or regulatory body could force you (or your company) to compensate the person harmed for actual and potential damages. If you were especially nefarious, sought to cause harm or chose language that portrayed events in the worst possible manner (including anything untrue), you risk being hit with punitive damages as well.Since there is no necessity or obligation for an employer to share anything beyond basic verification details, doing so can show willful intent to inflict harm, loss or suffering on the person affected. If you tell a friend that someone else is lazy and goofs off at work, the harm and impact is relatively low: and the allegedly lazy goof-off would have little luck trying to sue you for what you said.But if you said this to a person with authority to decide who gets a job, who gets approved for a loan or any other life-altering decision, the potential damage inflicted is substantial and wide-ranging — even if what you said is only part of the decision not to hire someone.So for the tl;dr crowd: don’t ask, don’t tell. When in doubt, shut up.

The ACRA requires that businesses in Singapore set up a bank account. It can get a little confusing given that there are so many options to choose from. We've ranked the top four banks in Singapore: DBS, Maybank, OCBC, and UOB as well as a great new solution: Transferwise. Jul 1, 2019So I have included below how to go about opening a corporate bank account, and then which banks are the best banks in Singapore. I hope this works for you. Thanks for your questionOpening a Corporate Bank Account in Singapore[Singapore companies have plenty of options when it comes to opening a corporate bank account. Most of the banks in Singapore offer attractive features such as multi-currency accounts, internet banking, credit cards, trade financing, freedom to move funds across countries, and more. Opening a corporate bank account in Singapore is a relatively simple and straightforward procedure. However, it is important to compare the corporate account's features of the various banks in order to select the bank that comes closest to meeting the particular needs of your company.The purpose of this guide is to provide an overview of the requirements for opening an account and will assist you in choosing a bank that best matches the banking needs of your company. The focus of this guide is on the banking needs of small to mid-size companies.Note that the information presented here is for general guidance only. Once you have narrowed down your choice to a few banks, you should confirm the account features with the respective bank(s) directly, to ensure you are aware of their latest policies and offerings. Banks operate in a very competitive environment and are periodically adjusting their offerings to remain competitive.Singapore Account Opening RequirementsIn general, most banks have the following requirements for opening a corporate bank account in Singapore:1) Many banks require that the account signatories and majority directors be physically present in Singapore for paperwork signing at the time of opening the company bank account. Some banks may accept the signing of documents at one of their overseas branches or in front of a Notary Public.2) Typically, the banks would require the documents listed below. Additional documents may be required by the bank on a case-by-case basis.Completed Corporate Account Opening Forms (signed by authorized signatories as per the board resolution)Board of Directors Resolution sanctioning the opening of the account and the signatories to the account (to be prepared by your company secretary)Certified True Copy of Resolution sanctioning the opening of the account and the signatories to the account (most of the banks have their own format and you just need to sign it)Certified True Copy of Certificate of Incorporation (must be certified by the company secretary or one of the directors)Certified True Copy of Company’s Business Profile from Company Registrar (must be certified by the company secretary or one of the directors)Certified True Copy of Company’s Memorandum and Articles of Association (MAA) (must be certified by the company secretary or one of the directors)Certified True Copies of Passport (or Singapore IC) and Residential Address Proof of the Directors, Signatories, and Ultimate Beneficiary Owners. If you are in Singapore, just bring the originals and the bank will make a copy.Local Banks in SingaporeFeatureFeatureDBSOCBCCan the account be opened without being physically present in Singapore?** Physical presence is strongly recommended for all the banks to avoid delays.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.DBS Bank offers online applications where you can potentially skip the branch visit and save time – account verification can be done over Facetime/Skype or a phone call, subject to the bank’s conditions.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.Singapore Dollar Current AccountSetup feeNoneNone. However, there is an account fee of S$38 per month (waived for 1st 3 months)Deposit requiredS$1,000 to S$3,000S$3,000Minimum balance requiredDBS Digital Business Account has no minimum balance requirement.DBS Business Account requires an average monthly balance of S$10,000, or S$35 monthly fee will apply.Average monthly balance of S$5,000 (waived for 1st 6 months). Thereafter, S$35 per month if monthly average balance falls below S$5,000.Debit cardYes, no annual fees. Earn 0.3% cash rebate on all charges.Yes, with S$5,000 daily cash withdrawal limit and with S$10,000 daily debit card transaction limit.Cheque bookS$25/book for DBS Digital Business Account.Free-of-charge with DBS Business Account.YesCredit cardYes, subject to approval**For local entities.No. Debit card available linked to SGD account.Internet bankingYes, free access. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer). Full transactional capabilities on desktop and mobile app versions.Yes. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer).Foreign Currency AccountForeign currency account availabilityBoth current account and fixed deposit account available in major currencies.Both current account and fixed deposit account available in major currencies.Initial deposit requiredVaries based on currency (For example, USD1,000 and EUR8,00).Varies based on currency (For example, USD1,000 and EUR1,000).Minimum balanceVaries based on currency (For example, USD1,000 and EUR800).Depends on the currency type, normally equivalent to US$500/EUR500.Cheque bookYes, for certain currencies.Yes, for USD.Debit CardYes.No.Internet bankingYes, free access. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer). Full transactional capabilities on desktop and mobile app versions including DealOnline FX platform.Yes. Inquiries, local payments, overseas payments. No max transaction amount limit (unless set by the customer).Credit CardYes, subject to approval.No.Related ServicesBusiness InsuranceYesYesTreasury Services: FX Spots, Bonds, IR Swaps, FX Options, Futures, Forwards, etc.YesYesBusiness Loans**Generally the entity must have been in operation for a minimum of 1-3 yearsYes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc.Yes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc.Accounts Payable Services: cashier’s order, DD, TT, interbank GIRO payment, internal fund transfer, cheque issuance servicesYesYesAccounts Receivable Services: incoming TT, bill payment services, GIRO CollectionsYesYesLiquidity Management ServicesYesYesTrade Finance Services: Import Products, Export Products, Bank GuaranteesYesYesInternational Banks in SingaporeFeatureMaybank (FlexiBiz)Standard CharteredCitiBank (CitiBusiness)Can the account be opened without being physically present in Singapore?** Physical presence is strongly recommended for all the banks to avoid delays.We require face to face meeting for all authorized signatories in account opening as part of our due diligence process. However, in exceptional cases where one of the directors (not major shareholder nor authorized signatory) is unable to come to Singapore, we can arrange for the client to visit one of our overseas branches (London, New York, Hong Kong, China, Malaysia, Indonesia, Philippines, Cambodia, Vietnam, Laos & Myanmar) where they will assist to verify the documents and signature before sending back to Singapore for processing.No. The executive director and authorized signatory must be present, for the due diligence meeting with the bank officer. However, some exceptions may be made subject to the bank’s discretion – e.g. existing customers can go to the bank’s branch or appointed agent worldwide, for identification verification and due diligence teleconference.No. The executive director and authorized signatory must be present, for a face-to-face meeting. However, some exceptions may be made on a case by case basis subject to the bank’s discretion.Singapore Dollar Current AccountSetup feeNilNoneNilInitial deposit requiredS$1,000S$30,000S$100,000 or equivalent (USD equivalent for USD account).Minimum balance requiredNil.Average monthly balance of S$30,000; or S$50 monthly fee will apply.S$50,000 or S$100 monthly fee will apply (same applies for both SGD and USD account).*Minimum balance is based on total relationship balance rather than per account.ATM cardNo.No.Nil.Cheque bookYes.Yes.Yes.Credit cardYes^No. Debit card available (only linked to SGD).Corporate commercial cards available.Internet bankingYes.Yes. One-off setup fee of S$50 will apply.Foreign Currency AccountForeign currency account availabilityUSD, GBP, EUR, CAD, AUD, NZD, HKDBoth current account and fixed deposit account available in major currencies.Both current account and fixed deposit account available in major currencies.Initial deposit$1,000 (in respective currencies, except for HKD $10,000).US$30,000 (Varies based on currency).S$100,000 or equivalent (USD equivalent for USD account).Minimum balance$1,000 (in respective currencies, except for HKD $10,000).Varies based on currency.Average monthly balance of US$200,000 or S$200 monthly fee will apply*Minimum balance is based on total relationship balance rather than per account.Cheque bookFor USD only.For USD only.Yes.ATM CardNo.No.Nil.Internet bankingYes.Yes. One-off setup fee of S$50 will apply.Yes.Related ServicesBusiness InsuranceYes.Yes.No.Treasury Services: FX Spots, Bonds, IR Swaps, FX Options, Futures, Forwards, etc.Yes.Yes, depending on business activities.Yes.Business LoansYes. Generally, the entity must have been in operation for a minimum of 1-3 years.Yes. The loan amount depends on factors such as company history, number of employees, local shareholding, etc. Minimum 3 years of financial statements required.Yes. Subject to the bank’s assessment.Accounts Payable Services: cashier’s order, DD, TT, interbank GIRO payment, internal fund transfer, cheque issuance servicesYes.Yes.Yes.Accounts Receivable Services: incoming TT, bill payment services, GIRO CollectionsYes.Yes.Yes.Liquidity Management ServicesYes.Info not available.Yes.Trade Finance Services: Import Products, Export Products, Bank GuaranteesYes.Yes.Yes.^ Maybank provides a business credit card with the following criteria:Director(s) must be aged between 21 and 60; Company must be registered in Singapore (ACRA) with at least one local Director (Singaporean or Singapore PR); Company must be in operation for at least 2 years, with an annual sales turnover of at least S$200,000; If newly incorporated, alternative option is to apply for a business credit card fully secured via time deposit with the bank (Min S$10K limit).In SummaryAlmost all major banks of the world have their presence in Singapore. Banks are generally happy to open a corporate bank account for any company (whether Singapore or offshore) as long as the necessary paperwork is submitted and the banks are satisfied with the information provided for purposes of their internal due diligence.Need help to open a Singapore bank account?Hawksford offers unparalleled subject-matter expertise and comprehensive end-to-end support for all manner of establishing and managing a business in Singapore.FIND OUT HOW HAWKSFORD CAN HELPBest Business Bank Accounts in Singapore: DBS, OCBC, or UOB?BY: GORDON NG May 31, 2017Apart from its strict laws and multicultural society, Singapore is well known for its established and diverse financial sector. Ranked one of the most competitive financial centers in the world, the island republic is set to become even more attractive to businesses as it eagerly welcomes the digital age. While the Singapore government pushes the boundaries with its Smart Nation initiative, banks are taking the cue and becoming more innovative with their processes. This has resulted in the rapid growth of the FinTech industry, meaning that setting up a business entity in Singapore is now just a few clicks away.First things first: The sign-upWhere the general experience with opening an account is concerned, DBS wins hands-down. It takes 5 minutes to apply for a DBS Business Account from the DBS site, as opposed to waiting hours in a queue at OCBC and UOB. Applying for a DBS Business Account has been one of my favorite banking experiences and it shows DBS’ commitment to being the best digital bank in the world.Between OCBC and UOB, I prefer OCBC, as you can arrange for a meeting with your assigned Relationship Manager (RM) to get your documents done. Nonetheless, both OCBC and UOB require you to be present to sign thick stacks of documents. With DBS on the other hand, everything is done online and the paperwork is minimal. Even better, it’s system can connect to ACRA and retrieve your company’s information to autofill some of the fields. How useful!Look through the slides for a general feel of DBS and OCBC’s digital platformsUser-friendlinessComing from an HR tech company, I naturally paid attention to the user interface and user experience (UI/UX) of the different platforms as well.In my opinion, OCBC Velocity has the best UI/UX, followed by DBS IDEAL and lastly, UOB BIB Plus. OCBC’s previous design had too many unnecessary steps on their platform, and after a revamp around 2014, the whole experience has become very pleasant. The system takes you from A to B within a few clicks, whether you’re transferring funds or disbursing salaries. DBS IDEAL hasn’t changed much since it was launched, but I must applaud their new digital token product, which you can access on your mobile phone. That has saved me the hassle of carrying a token everywhere I go. As for UOB BIB Plus, the system was not intuitive enough, and that meant having to fill in many fields and select from many drop-down menus to get my work done.How the DBS IDEAL digital token worksCost comparison of digital business accountsIn an effort to streamline their operations and cut down on manual work, the banks have implemented a new generation of business accounts. DBS started a fully online digital business account called DBS Digital Business, which eliminates any manual transactions. OCBC and UOB followed with their own versions of digital accounts shortly after:Making the best choice for yourselfHaving tried out all three platforms, I’d say DBS and OCBC have the best UI/UX and setup processes, with DBS edging out the rest thanks to their speedy setup time and digital mobile token. I also had a pleasant experience with the customer service representative at DBS when I opened a business bank account with them. What has your experience been like so far, fellow entrepreneurs?