Top 9 Business Accounts in Singapore in 2026

Most "best business account Singapore" guides rank accounts by monthly fee or debit card cashback. That’s the wrong starting point.

Before you compare features, you need to know which accounts you can actually open. In Singapore, three eligibility variables determine your shortlist before anything else: whether your company is locally or foreign-incorporated, whether your directors and shareholders are Singapore citizens or PRs, and whether your primary payment flow is local SGD or cross-border multi-currency. Get those wrong and you spend hours comparing accounts that will reject you at onboarding.

In supporting Statrys SG clients, the most common outcome for foreign-founder companies is a two-account setup: Statrys or ANEXT for international payments, plus one of the major local banks for SGD payroll and domestic operations. These serve different functions — they don’t duplicate each other.

This guide covers nine accounts with eligibility first, features second.

Statrys is a fintech payment institution offering multi-currency business accounts for companies incorporated in Singapore, Hong Kong, and the British Virgin Islands. We also provide company services in both Singapore and Hong Kong. As of 2026, we support more than 10,000 business account clients and have processed over $7 billion in transfer volume, reflecting our experience working with SMEs on cross-border operations.

Through a fully online, paper-free onboarding process, you can send and receive payments in multiple currencies, manage FX at competitive rates, and connect your account to everyday tools like accounting software. We offer regulated payment and FX services with a strong “human-first” approach, giving you access to real support from a dedicated team. Together, these features help make international payments and day-to-day money management simpler for SMEs.

• Hold and manage funds in 11 currencies, including SGD, USD, EUR, GBP, and HKD in one account
• Make local payments in 12 currencies, including SGD, USD, EUR, GBP, THB, INR, and IDR
• Send international payments via SWIFT with real-time tracking and shareable status links
• FX fees starting from 0.1% above the mid-market rate for spot conversions
• Free MT103 document download for every outbound SWIFT transfer
• Xero integration to sync transactions automatically for bookkeeping
• Maker-approver workflow so one user can create payments, and another can approve them
• Dedicated account manager for every business account, reachable via phone, email, live chat, WhatsApp, and WeChat

Who can apply

• Companies incorporated in Singapore, Hong Kong, or the British Virgin Islands (BVI)
• Most structures are accepted, including private limited companies, sole proprietorships, and partnerships

How to apply

• Fully online application through the Statrys website
• Required documents include passport copies of all directors and shareholders, and the company’s incorporation certificate

DBS is a Singapore-based multinational banking and financial services corporation and a leading consumer bank. If you’re already familiar with DBS as a personal banking customer, the DBS Business Multi-Currency Account (Starter Bundle) offers a similar digital banking experience, adapted for business use. You can manage payments and collections in multiple currencies for both local and cross-border transactions.

That said, the Starter Bundle is only available to companies incorporated within the last three years, and fully online onboarding is generally limited to locally owned businesses. If your company has foreign shareholders or a more complex ownership structure, additional checks or a branch visit may be required.

• Hold and manage 13 currencies, including SGD, USD, EUR, GBP, and HKD
• Enjoy unlimited free FAST and GIRO transfers via DBS IDEAL (bulk and payroll excluded)
• Send overseas payments at a flat SGD 30, excluding agent bank fees
• Get $0 FX fees, 1% cashback, and corporate liability insurance with the DBS Business Advance+ Debit Card
• Lock in preferred exchange rates in advance with DBS FX Online or SecureFX

Please refer to the DBS pricing guide for detailed pricing information.

Who can apply

• Singapore-incorporated businesses that are less than three years old. Overseas-incorporated companies may be considered, subject to DBS’ review and documentation requirements

How to apply

• Apply online via DBS IDEAL for eligible Singapore-incorporated businesses
• Additional documentation may be required for companies with foreign shareholders or overseas incorporation

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singaporean multinational bank operating through subsidiaries in several countries, primarily in Southeast Asia.

The OCBC Business Growth Account is an SGD-based business account that focuses on local transactions and spending benefits. You also have the option to open it together with an OCBC Multi-Currency Business Account, allowing you to manage a local SGD account and a separate multi-currency account under a single monthly fee.

• Earn up to 1% cashback on business spending with a free debit card
• Get 80 free FAST and 80 free GIRO transactions each month
• Monthly fee of SGD 10, waived for the first two months
• Complimentary six-month fire insurance (T&Cs apply)
• Option to pair with a free Multi-Currency Business Account holding up to 13 currencies

For other fees, please refer to the bank’s Business Banking Pricing Guide page.

Who can apply

• Only Singapore-registered entities can open this account (foreign businesses are recommended to apply for the OCBC Business Foreign Account)

How to apply

• Apply online through OCBC
• Instant account opening with SingPass is available for first-time OCBC business customers who are fully owned by Singapore Citizens or Permanent Residents
• Other Singapore-registered businesses can still apply online, subject to additional review

The UOB eBusiness account is provided by United Overseas Bank Limited (UOB), one of Asia’s top banks with an extensive network across the Asia Pacific region. It is a straightforward SGD current account designed for routine local business payments, supporting FAST and GIRO transfers as well as bulk payroll processing. You can manage the account through the UOB Infinity digital banking platform or the UOB SME mobile app.

The UOB eBusiness account is primarily designed for domestic SGD transactions and focuses on local payment needs, with limited support for multi-currency or cross-border activity.

• Rebates on outgoing FAST (SGD 0.50) and GIRO (SGD 0.20) payments, up to 60 per month
• Free bulk GIRO payroll transactions via UOB Infinity or SME App
• 12-month waiver on fall-below fees (new accounts)
• Free access to UOB Infinity and SME App for digital banking management
• Incoming PayNow FAST transactions waived until 31 December 2028

For more details, go to the account service page and check the rates and fees section.

Who can apply

• Singapore-registered businesses and selected organisations such as societies, professional practices, and MCSTs
• Foreign-incorporated businesses may also be eligible, subject to UOB’s review, documentation requirements, and setup fees

How to apply

• Online application is available for Singapore-registered businesses
• Instant account opening applies if this is your first UOB business account and the company is fully owned by Singapore Citizens or Permanent Residents
• Other Singapore-registered businesses can still apply online, with additional review required
• Foreign-incorporated or mixed-ownership companies may need to apply with full documentation, potentially via a UOB branch

The CIMB SME Account is a product of CIMB, a regional bank headquartered in Kuala Lumpur with operations across ASEAN. It is positioned as a low-cost business account for SMEs, with no minimum balance required to maintain the account. The account supports free FAST, GIRO, and payroll transactions, and includes e-alerts to monitor account activity.

The CIMB SME Account is primarily designed for SGD-based usage and offers limited support for holding multiple currencies or handling frequent international transfers.

• No initial deposit, minimum balance, or fall-below fees
• Unlimited free FAST, GIRO, and payroll transactions via BizChannel@CIMB
• No monthly account fee for the first 12 months (SGD 8 thereafter)
• Free e-Alerts for instant transaction notifications

Note on TT fees: The 12-month telegraphic transfer fee waiver promotion via BizChannel@CIMB ended on 31 December 2026. The standard rate of SGD 15 per TT (excluding agent/bank fees) applies. Verify any current promotions directly with CIMB before applying.

You can refer to the CIMB Corporate Pricing Guide for more details.

Who can apply

• Singapore-registered businesses
• Foreign-registered businesses may also be eligible, subject to CIMB’s review and documentation requirements

How to apply

• Singapore-registered businesses can apply fully online, with identity documents required for owners and authorised persons
• Foreign-registered businesses must apply through a CIMB bank representative, as online self-service is not available

The Maybank FlexiBiz Account is provided by Maybank, a Malaysian universal bank with core markets in Malaysia, Singapore, and Indonesia. It is built around rewards and transaction rebates based on your account balance, with more focus on digital payments rather than multi-currency management.

You earn tiered interest of up to 0.038% p.a., with higher rates applying as your balance grows, and you may qualify for rebates on local payments and selected international transfers. These rewards work best when you maintain a higher average daily balance, typically around SGD 30,000, which can feel restrictive if your cash flow fluctuates.

• No monthly maintenance fee, helping businesses save on ongoing fees
• Tiered interest up to 0.038% yearly, increasing with higher balances
• 100% cashback on FAST, GIRO, and salary payments (up to SGD 120 per month, based on balance tier)
• 25%-50% rebate on international transfer fees via Business Internet Banking
• Free Business Debit Card and access to Internet Banking with 24/7 account management.

For more pricing information, please refer to the fees page for the Current Account and the Corporate Pricing Guide (updated January 2026).

Who can apply

• Only businesses incorporated in Singapore, including charities, societies, and associations

How to apply

• Apply online through MyInfo Business using Singpass or Corppass
• Alternatively, book an appointment to apply at a Maybank branch with all signatories and required documents present

ANEXT Bank is a licensed digital bank in Singapore and a wholly owned subsidiary of Ant International. As a digital wholesale bank, it exclusively offers banking products tailored to the financial needs of SMEs. The ANEXT Business Account supports holding up to 4 currencies and allows international transfers in 10 currencies. It has no opening fee, no initial deposit, and no minimum balance required.

However, you can open only one ANEXT business account per company, which can feel limiting if you need multiple accounts under the same entity.

• Hold and transact in SGD, USD, CNH, and EUR
• Earn 1% daily interest on SGD and USD balances
• Unlimited free local transfers (PayNow, FAST, MEPS, GIRO)
• Send international transfers in up to 10 currencies via SWIFT
• Secure online banking with 3-factor authentication (3FA) and 24/7 access

For more information, see the official ANEXT fee schedule .

Who can apply

• Businesses incorporated in Singapore only
• Foreign founders are supported, as long as the company is incorporated in Singapore and ownership and control can be clearly verified

How to apply

• Apply online via Corppass or Myinfo Business
• The applicant must have a Singpass account and be authorised to retrieve business information via Myinfo Business
• Non-citizens and Foreign Identification Number (FIN) holders with Singpass access can also apply on behalf of the company

The Wise Business Account is a multi-currency account provided by Wise, a global financial services company. While it is not a traditional bank account, it allows you to hold and exchange over 40 currencies and use both physical and virtual debit cards for business spending. For a detailed review, see our guide on key things to know before opening a Wise Business account.

• Hold and manage over 40 currencies with local account details in 23 currencies, including SGD, USD, EUR, and GBP
• Send global payments to over 70 countries at low, transparent FX fees
• Earn returns on SGD balances, credited daily (rate varies; capital at risk)
• Make batch payments to up to 1,000 recipients in one go
• Use multi-currency debit cards (physical and virtual) for business spending
• Connect with accounting tools like Xero and QuickBooks for transaction syncing

For the full list of fees and supported currencies, visit the Wise Business Account pricing page.

Who can apply

• Sole proprietors, freelancers, partnerships, limited or public companies registered in Wise-supported countries (including Singapore)
• Companies with foreign directors or shareholders are allowed, as long as ownership and control can be clearly verified
• Trusts and charities are not supported for Wise Business in Singapore

How to apply

• Apply fully online through the Wise website or mobile app
• Verification requires business registration details, authorised representative ID, and supporting documents depending on entity type
• Foreign-owned or complex structures may be asked for additional documents during review

Aspire is a non-bank financial platform headquartered in Singapore, with operations in Singapore and Hong Kong. It provides business payment solutions designed for startups, SMEs, and growing companies that want to manage payments, cards, and expenses within a single digital platform.

The Aspire business account features and supported currencies vary based on where your company is incorporated. For Singapore-registered businesses, Aspire supports holding up to four currencies. While the setup is fully online with no minimum balance requirement, currency coverage is more limited than broader multi-currency platforms.

• Hold and manage SGD, USD, EUR, and GBP in one business account
• Free local transfers and international payments in 30+ currencies with upfront FX fees
• 1% cashback on SaaS and digital marketing spend via Aspire corporate cards
• Built-in expense management with team controls, plus virtual and physical cards
• Accounting integrations with Xero, QuickBooks, and other supported platforms

For detailed information, visit the Aspire Business Account pricing page.

Who can apply

• Businesses registered in Aspire’s supported countries, including Singapore, Hong Kong, and Indonesia.
• Companies with foreign directors or shareholders are supported, subject to identity and ownership verification

How to apply

• Apply fully online via the Aspire website or mobile app.
• Verification requires basic business information, director identification, and MyInfo or selfie authentication.

Now that we’ve covered the nine accounts, here are the factors to weigh before deciding.

• Eligibility requirements. Most Singapore banks focus on locally incorporated companies with simple ownership structures. Businesses with foreign shareholders, corporate owners, or overseas incorporation may face extra checks or need to visit a branch. If you prefer a smoother online process, digital providers like Statrys, Wise, Aspire, and ANEXT are often easier to start with.
• Initial deposit. Some providers in this list require no initial deposit — DBS (Starter Bundle), CIMB, Statrys, Wise, ANEXT, and Aspire. Others, including OCBC, UOB, and Maybank, require upfront funding of SGD 1,000. If you are early-stage or want to keep cash flexible, accounts with no initial deposit reduce the upfront funding required.
• Monthly or annual fees. Cost structures differ clearly between providers. No account fees: Statrys, ANEXT, Aspire, and Wise. Fixed maintenance fees: DBS monthly fee, UOB annual fee, CIMB fee after the waiver period. Startups that want to keep costs low may prefer to start with no-fee accounts, then add a traditional bank later if needed.
• Minimum balance and fall-below fee. Wise, Aspire, ANEXT, CIMB, and the DBS Starter Bundle do not set a minimum balance. OCBC, Maybank, and UOB have thresholds that can trigger fall-below fees. If your cash flow varies from month to month, accounts that do not require a minimum balance help reduce penalty fees.
• Transaction fees. If you mainly make local SGD transfers (FAST, GIRO, payroll), banks like CIMB and UOB are strong for local payments. If you frequently send or receive cross-border payments, providers such as Statrys and Wise may be more suitable. Choosing an account aligned with your payment pattern helps avoid unnecessary transfer and FX costs.
• Digital banking options. Digital providers like Wise, Aspire, ANEXT, and Statrys support fully online onboarding and everyday account management. Traditional banks may still involve branch visits or offline steps, especially for businesses with more complex ownership structures. For remote teams or founders managing operations across different locations, online tools can make payment approvals and account control easier.
• Multi-currency support. Wise offers broad currency coverage for businesses handling many currencies. DBS supports multi-currency holding within a traditional bank setup, while OCBC can be paired with a separate multi-currency account. For regular international payments, providers like Statrys structure FX pricing around the mid-market rate. Choose based on whether your priority is currency range, working alongside a bank account, or predictable FX costs.
• Transaction limits. Transaction limits become important when you run payroll or bulk supplier payments. Banks can be useful for high-volume local payments, such as UOB’s payroll features, while digital providers may use different approval flows depending on account controls. Checking transaction limits and bulk payment support upfront helps you avoid operational bottlenecks later.

There is no single business account that fits every company. Each option in this list is built around different priorities, so the most practical way to compare them is to focus on how each account supports your actual payment needs and operating setup.

As a next step, shortlist accounts that match your priorities and review their fees, eligibility, and day-to-day usability side by side. If multi-currency payments, transparent FX pricing, and online account management are relevant to your business, you may want to explore providers designed around those use cases.

If cross-border payments, transparent FX pricing, and direct support matter to your business, Statrys is built for that use case. We’re a MAS-licensed Major Payment Institution — not a bank. We offer 11+ currencies, FX starting from 0.1%, and a dedicated account manager from day one. Over 10,000 SMEs globally use Statrys, with $7 billion+ in transfers processed. 96% open their accounts within 3 business days.