Hi i am sharing my experience with BBCIncorp | Online Company Formation and Corporate Service although they scammed me but i am no one to judge in your case or services you availed from them, it is general advisory for anyone looking to avail their bank account opening help with Hong Kong or Singapore banks.
I approached them last month to see if they can help in any remote bank account opening in Singapore or Hong Kong for my Hong kong company which is 4 years old and has already have existing bank account with ICICI Bank Hong Kong. They asked me some basic info about the company like nature of business and requested for documents which would be required to open the bank account so they could pre-approve it. And they verified that they can offer account opening for me with DBS Hong Kong ( remotely with video conference call ), DBS Singapore ( remotely with video conference call ) and OCBC Singapore ( remotely with video conference call ).
So i decided to signup up with them for OCBC since DBS had too big of initial deposit and balance requirement. And paid them USD 700. Once i paid them they requested for some additional docs which i provided. This is the first day after i paid them and submitted following docs:
Directors documents
Company Audit Reports for past 3 years
Company Tax Debit notes and Returns for past 3 years
Customer and Supplier Invoices
Client Contracts
Current bank account statement
Bank reference letter
Basic Company docs like COI, BR
And Virtual office lease agreement.
Now before i paid them i asked them specifically do any of the banks require physical office or can they accept virtual office, to which they clearly responded virtual office is no problem.
On 2nd day they came back requesting couple of questions like one of the client contract was over 1 year old and others are also old. So in reality in my business contracts are not a big requirement so its only signed once when we start relationship and out 4 contracts i submitted 3 were signed in last 5 months and other was 1 year old, but since they requested it i somehow managed to ask my client to sign new contract and submitted that as well.
On 3rd day they came up with new request that they need a new address proof, which is what i asked, so they said a latest invitation letter sent by my customer or supplier to my address, which did seem odd to me since i submitted tax returns with my business address, my audit reports and my current corporate bank account statement which also has my address, so i told them getting an invitation letter is impossible since world has been on lockdown for past 6 months or so why and how would someone send me an invitation letter.
Now all this was sounding a little phishy, so i saw there was refund policy on the site stating i can request 100% refund within 3 days, so i asked them to refund my money and they started strolling and offered me other services like auditing and tax filing to which i refused. And at the end denied to refund stating that refund policy says if i fail to provide that invitation letter document so i am not liable to get a refund. I was also willing to go for a partial refund but they denied that as well, so i asked them to lets go ahead open the account only and request a meeting with OCBC bank with existing documents. And its been more than 15 days now since they gave any information for an appointment or even a single piece of thread to prove that they even applied for bank account opening.
I do have all the proofs of our conversation so i have finally filed for a dispute with my bank and going to report them to government authorities as well.
I would highly recommend to stay away from this company.
I approached them last month to see if they can help in any remote bank account opening in Singapore or Hong Kong for my Hong kong company which is 4 years old and has already have existing bank account with ICICI Bank Hong Kong. They asked me some basic info about the company like nature of business and requested for documents which would be required to open the bank account so they could pre-approve it. And they verified that they can offer account opening for me with DBS Hong Kong ( remotely with video conference call ), DBS Singapore ( remotely with video conference call ) and OCBC Singapore ( remotely with video conference call ).
So i decided to signup up with them for OCBC since DBS had too big of initial deposit and balance requirement. And paid them USD 700. Once i paid them they requested for some additional docs which i provided. This is the first day after i paid them and submitted following docs:
Directors documents
Company Audit Reports for past 3 years
Company Tax Debit notes and Returns for past 3 years
Customer and Supplier Invoices
Client Contracts
Current bank account statement
Bank reference letter
Basic Company docs like COI, BR
And Virtual office lease agreement.
Now before i paid them i asked them specifically do any of the banks require physical office or can they accept virtual office, to which they clearly responded virtual office is no problem.
On 2nd day they came back requesting couple of questions like one of the client contract was over 1 year old and others are also old. So in reality in my business contracts are not a big requirement so its only signed once when we start relationship and out 4 contracts i submitted 3 were signed in last 5 months and other was 1 year old, but since they requested it i somehow managed to ask my client to sign new contract and submitted that as well.
On 3rd day they came up with new request that they need a new address proof, which is what i asked, so they said a latest invitation letter sent by my customer or supplier to my address, which did seem odd to me since i submitted tax returns with my business address, my audit reports and my current corporate bank account statement which also has my address, so i told them getting an invitation letter is impossible since world has been on lockdown for past 6 months or so why and how would someone send me an invitation letter.
Now all this was sounding a little phishy, so i saw there was refund policy on the site stating i can request 100% refund within 3 days, so i asked them to refund my money and they started strolling and offered me other services like auditing and tax filing to which i refused. And at the end denied to refund stating that refund policy says if i fail to provide that invitation letter document so i am not liable to get a refund. I was also willing to go for a partial refund but they denied that as well, so i asked them to lets go ahead open the account only and request a meeting with OCBC bank with existing documents. And its been more than 15 days now since they gave any information for an appointment or even a single piece of thread to prove that they even applied for bank account opening.
I do have all the proofs of our conversation so i have finally filed for a dispute with my bank and going to report them to government authorities as well.
I would highly recommend to stay away from this company.
