As a business owner, you’re not required to have separate bank accounts for yourself and your business. But if you use one account for both, it can be a recipe for disaster, especially if you can’t separate your personal and business spending.

When you use your personal bank account for business, it’s next to impossible to distinguish what you’re spending on, and it only creates more hassle come tax time. Not only that, it looks very unprofessional when a customer has to make out a check to you, not your business.

Here are several business bank accounts to consider:

DBS Entrepreneur’s Account For Start-Ups

DBS provides the easiest business bank account to open. You only need to make a low initial deposit and you can get approved quickly. Not only that, there are no hidden fees.

Another positive aspect of this bank account is that it’s not hard to find a DBS branch or kiosk.

Here are some of the account’s features:

*DBS IDEAL is an online e-banking platform. This is for businesses to view accounts, make remittances, track expenditures, etc. through a secure portal.

There are fees for the service such as a setup fee, security device fee, and a monthly maintenance fee. These will be covered by a product pricing guide – and anyone opening this SME account will have the fees waived for two years.

OCBC Business Entrepreneur Account

This is another popular business bank account that many start-up entrepreneurs and side-income earners use. There’s no minimum balance for this account for the first 6 months, but afterwards you’ll have to maintain an $8,000 minimum balance.

You’ll also get a business debit card with your company’s logo and get access to many rewards.

Here are some of the account’s features:

UOB Current Account

This straightforward account comes with free Internet banking. There are no monthly charges and you only need to pay $20 per security token. You can also get UOB’s Corporate Unicard, which lets you withdraw up to $10,000 per day without prior arrangements. If your business requires quick streams of cash, this is a very convenient feature to have.

Here are some of the account’s features:

You can also add some additional frills to this account such as access to UOB’s cash management services, which provides immediate transaction updates, cashflow advice, COE open bidding, and other features.