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6 Business Banking Tools you Need to Manage your Business Finances

6 Business Banking Tools you Need to Manage your Business Finances

  • 15 January 2024
  • By OCBC Business Banking
  • 10 mins read

When it comes to managing your business effectively, having a reliable banking partner can make a significant difference. OCBC Bank (Malaysia) Berhad (OCBC Bank) understands the evolving needs of businesses and offers a comprehensive suite of banking tools and services that go beyond the traditional deposit and withdrawal features.

There are various ways OCBC's business account, along with its value-added banking tools, can enhance your business management capabilities.

6 Business Banking Tools Every Entrepreneur Should Have

  1. Business Mobile Banking App: Business on the go

    The OCBC Business Mobile Banking app is a powerful mobile banking platform designed specifically for businesses. It provides convenient access to your business accounts anytime, anywhere. You can efficiently manage your finances, execute transactions, and stay informed about your cash flow with real-time updates. The app offers a range of features, including bill payments, fund transfers, balance inquiries, transaction history, and payment approvals. It empowers you to make informed decisions on the go, enhancing your flexibility and responsiveness as a business owner.

  2. OCBC Merchant Terminal: Seamless payment processing

    Efficient payment collection is essential for any business. The OCBC Merchant Terminal enables you to accept a wide range of payment methods, including credit and debit cards as well as e-wallets. By providing your customers with multiple payment options, you can enhance their experience and boost sales. The terminal integrates seamlessly with your business banking account, ensuring that your funds are securely deposited into your designated account. With real-time transaction updates and detailed reports, you can monitor your sales performance and reconcile payments effortlessly.

  3. OCBC OneCollect: QR Code-based payment collection service

    With OCBC OneCollect, collecting payments becomes hassle-free. It allows for DuitNow QR for local transactions, and PayNow QR for cross-border collections. This innovative QR code-based payment collection service allows you to generate personalised QR codes for your customers. They can simply scan the code using their mobile banking app to initiate payments instantly. By offering this convenient payment method, you can improve efficiency, reduce cash handling, and streamline your accounts receivable process. Additionally, you gain better visibility into your payment collection status, allowing you to identify outstanding payments and take proactive measures.

  4. FX Online: Simplified foreign exchange transactions

    For businesses engaged in international trade or dealing with foreign currencies, OCBC's FX Online platform is a valuable tool. It enables you to conveniently manage foreign exchange transactions, monitor currency rates and execute trades online. With real-time access to market insights and competitive exchange rates, you can optimise your business forex operations and mitigate currency-related risks. The platform offers advanced features such as customisable rate alerts, live rate charts, and transaction history, empowering you to make informed decisions and seize favourable market opportunities.

  5. Business Debit Card: Convenient expense management

    OCBC's Business Debit Card offers an efficient way to manage your business expenses. The transactions are directly debited from your linked OCBC business account, providing you with a clear overview of your expenses. Additionally, you can set spending limits for employees, ensuring better control over company expenditures. With detailed transaction records and expense categorisation, you can gain valuable insights into your spending patterns to make informed budgeting decisions.

  6. OCBC Velocity – Business Internet Banking: Sstreamlined day-to-day banking needs

    OCBC Velocity offers a wide range of features to facilitate efficient business management:

    • Cash Flow Monitoring

      Access real-time updates on your business account balance and transaction history, to track income and expenses for a holistic view of your business financials. Better yet, view and download electronic statements online, available for up to 12 months – eliminating the need for paper-based documentation and simplifying record-keeping.

    • Transactions and Bill Payments

      From frequent transfers to urgent payments, be it for local or overseas transfer, OCBC Velocity lets you transact with ease from your account. Set recurring payments for your favourite payees or billing organisations to ensure that your payments are made promptly. Besides, you can also keep track of your cross-border transactions with SWIFT gpi for peace of mind, and enjoy a flat fee for each transaction when you transfer business funds to Singapore and China.

    • Payroll Management

      Streamline your payroll process by initiating salary transfers directly to your employees' accounts, and submission to statutory bodies such as KWSP, LHDN, SOCSO and Zakat. With secure payroll templates, you can easily process your employees’ payroll online to facilitate timely payments, minimising risk of errors and improving operational efficiency.

    • Direct Debit Authorisation

      Automate recurring payments such as utility bills, subscriptions, and loan instalments. By authorising direct debits, you eliminate the need for manual payment initiation, reducing the risk of late payments and ensuring that your financial obligations are met promptly.

    • Easy Application for Trade Financing

      Access a simplified application process for essential banking services such as letter of credit, bank guarantees, and trade financing. By providing comprehensive information and streamlined documentation submission, OCBC Bank expedites the approval process, enabling you to seize business opportunities and meet your financial requirements promptly.

OCBC Bank's business banking account, supported by its suite of innovative tools and services, goes beyond regular deposit and withdrawal features as it provides a comprehensive solution that empowers businesses to maximize efficiency and achieve seamless management across various aspects of their operations.

Whether you need mobile banking convenience, simplified forex transactions, efficient expense management, or robust internet banking features, OCBC Bank has you covered.

By utilising these features, business owners can streamline financial operations, enhance customer experiences, and position their businesses for sustained growth. Embrace the comprehensive solutions provided by OCBC Bank to unlock the full potential of your business and stay ahead in today's competitive business landscape.


The information provided herein is intended for general circulation and/or discussion purposes only. Before making any decision, please seek independent advice from professional advisors. No representation or warranty whatsoever in respect of any information provided herein is given by OCBC Bank and it should not be relied upon as such. OCBC Bank does not undertake any obligation to update the information or to correct any inaccuracy that may become apparent at a later time. All information presented is subject to change without notice. OCBC Bank shall not be responsible or liable for any loss or damage whatsoever arising directly or indirectly howsoever in connection with or as a result of any person acting on any information provided herein. Any reference to any specific company, financial product or asset class in whatever way is used for illustrative purposes only and does not constitute a recommendation on the same.