Top 7 Business Accounts in Singapore in 2025

Choosing a business account in Singapore can be overwhelming. With so many options offering varying fee structures, currency support, and features, it’s hard to know which account truly fits your business needs.

To make things easier, we’ve researched and analysed the top providers to create a curated list of the best business accounts in Singapore for 2025. Our guide breaks down their key features, fees, and unique benefits so you can quickly find the perfect match.

This list is designed to help entrepreneurs, startups, and established businesses alike make informed decisions and get the most value from their accounts. Let’s dive in.

If you’re already familiar with DBS as a personal banking customer, the DBS Business Multi-Currency Account (Starter Bundle) offers the same reliability and ease of use but is tailored to business needs.*

This account simplifies managing both local and international transactions by consolidating payments and collections in multiple currencies into a single account, making it suitable for new businesses preparing for global operations right from the start. 

Key Features of DBS Business Multi-Currency Account (Starter Bundle)

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

Pros & Cons of DBS Business Multi-Currency Account (Starter Bundle)

The OCBC Business Growth Account offers a range of features and benefits designed to support business development.*

Setting up the account is cost-effective, and the online application process with MyInfo Business allows applicants to receive their account numbers quickly.

Once you have the account, you can access OCBC Velocity, the Digital Business Banking platform. This platform allows you to efficiently manage your accounts, initiate payments and collections, handle cash flow, and even create e-invoices without any charges.

Key Features of OCBC Business Growth Account

• 80 free FAST and 80 GIRO transactions per month.
• Waived monthly fee for the first 2 months.
• Up to 1% cashback on day-to-day business spending with the free debit card.
• Complimentary 6-month fire insurance.
• Can apply and use the OCBC Multi-Currency Business Account without an additional monthly fee. This account allows you to hold and transact in 13 foreign currencies, including USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, CHF, SEK, DKK, and NOK.

Fees of OCBC Business Growth Account

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

Pros & Cons OCBC Business Growth Account

he UOB eBusiness account offers the UOB BizSmart Digital Solution, a comprehensive platform assisting with essential processes such as invoicing, HR, and accounting, allowing easy accessibility and financial management.* Through UOB BizSmart, you can seamlessly import bank account feeds for automatic reconciliation and provide convenient payment options to customers using PayNow QR or NETS PayCollect.

For businesses engaged in cross-border transactions, UOB provides a team of FX specialists to assist with foreign exchange services like FX Spot and FX Forward.

Key Features of UOB eBusiness Account

• Rebate the first 60 FAST transactions per month.
• Rebate the first 60 GIRO payments and collections per month.
• 100% rebate on Bulk Payroll fees.
• Offer business-friendly functionalities such as automatic bank feed reconciliation and convenient payment options for customers (PayNow QR, NETS PayCollect).
• 12 months fall-below fee waiver.

Fees of UOB eBusiness Account

For more information, you can refer to the fees and rates page.*

Pros & Cons of UOB eBusiness Account

Another choice catering to SME business owners is the CIMB SME Account, which was rebranded from the CIMB BusinessGo Lite Account after 28 July 2023.* Without fall-below fees, startups and small businesses can manage their accounts without the hassle of maintaining a minimum balance. 

The account also allows for free FAST, GIRO, and payroll transactions and includes free e-alerts, allowing you to monitor your transactions through a secure notification service.

Key Features of CIMB SME Account

• Make unlimited single and bulk FAST, GIRO, and payroll transactions via BizChannel@CIMB (online or app) at no charge.
• No fall-below fees. 
• No monthly account fees for the first 12 months.
• Stay informed about your account activity with complimentary eAlerts instant notifications.

Fees of CIMB SME Account

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

Pros & Cons of CIMB SME Account

The Maybank FlexiBiz Account is a convenient and cost-effective option for businesses, with a reasonable minimum initial deposit of SGD 1,000, making it accessible for newer ventures.*

Additionally, by switching to e-payments, customers can enjoy rebates of local and overseas transaction fees if they maintain a minimum of SGD 30,000 average daily balance in their Maybank FlexiBiz Account.

Key Features of Maybank FlexiBiz Account

• No monthly fee
• 100% cashback on fees and charges for 30 FAST and 30 GIRO transfers per month.*
• 100% cashback on fees and charges for Automated Salary Payment*
• 25% rebate of charges on international telegraphic transfers.*
• A complimentary business debit card
• Earn interest rates of up to 0.038% p.a. on your account balance.

*An Average Daily Balance of a minimum of SGD 30,000 is required.

Fees of Maybank FlexiBiz Account

For more pricing information, please refer to the fees page for the Current Account.*

Pros & Cons of Maybank FlexiBiz Account

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, including the ANEXT Business Account.*

The ANEXT Business Account can hold SGD, CNH, USD and EUR and can be opened with no setup fee, no annual fee, and no minimum balance requirement. It also allows free local transfers in 9 major currencies at competitive rates.

Key Features of ANEXT Business Account

• Hold funds in 4 currencies: SGD, CNH, USD, and EUR. 
• No account opening, annual fee, or minimum balance requirements. 
• Promotional 2.7% p.a. daily interest on SGD and USD balances.
• Unlimited free local transfers in CNH, EUR, GBP, HKD, JPY, KRW, MYR, THB, USD.
• Unlimited free inwards telegraphic transfers. 
• Easy online application.

Fees of ANEXT Business Account

ANEXT Bank doesn’t charge an account opening fee or annual maintenance fee, does not require an initial deposit, and has no minimum balance requirements.* However, here are some of their other service fees:

Pros & Cons of ANEXT Business Account

The Wise Business Account is a multi-currency account provided by Wise, a global financial services company.* Although not a traditional bank account, it enables users to hold and exchange over 40 currencies and offers both physical and digital debit cards.

Key Features of Wise Business Account

• Hold and exchange over 40 currencies at a competitive mid-market rate. 
• Link to multi-currency debit cards for international spending and withdrawals.
• Send money from 29 currencies to 50 currencies. 
• Get account details in 22 currencies, including SGD, GBP, EUR, CNY, and AUD.
• Integration with accounting software like Xero and Sage. 

Fees of Wise Business Account

Opening and maintaining the Wise Business Account is free of charge, but here are some of the fees and pricing for using the account:*

Pros & Cons of Wise Business Account

Now that we have covered the list of the best business accounts, here are some key factors entrepreneurs and businesses should consider when weighing their options before opening a corporate bank account in Singapore.

1. Eligibility Requirements: Most banks require your business to be registered in Singapore with a Unique Entity Number (UEN) to open a business bank account. Some banks charge a high account opening fee for foreign-incorporated businesses. 
2. Initial Deposit: This is the amount needed to open your account. Some banks, such as DBS and CIMB, offer accounts with no initial deposit requirements, making them more accessible for new businesses or those with limited capital.
3. Monthly or Annual Fees: Many corporate accounts charge a monthly or annual account maintenance fee. To minimise your costs, look for banks that offer fee waivers or reduced fees for new businesses or high account balances.
4. Minimum Balance and Fall-Below Fee: Some banks require you to maintain a minimum balance in your account to avoid fall-below fees. Be sure to choose an account with a minimum balance requirement that aligns with your anticipated cash flow and financial habits.
5. Transaction Fees: Check for fees associated with day-to-day transactions, including FAST and GIRO payments and cheque usage.
6. Digital Banking Option: Prioritise banks with user-friendly and secure online platforms that offer features such as online payments, invoicing, and expense management tools to save you time and streamline your operations.
7. Multi-Currency Support: If you work with international clients or suppliers, consider a multi-currency account to simplify transactions and potentially save on foreign exchange fees. Make sure the account supports all the currencies you use.
8. Transaction Limits: Ensure the account's daily or monthly transaction limits are sufficient for your business. Exceeding these limits can lead to unexpected fees and disruptions to your operations.

Choosing the best corporate bank account is a critical decision that can impact your business’s efficiency and growth. With a variety of options available, each offering tailored features, it’s important to o evaluate your priorities and carefully compare accounts to set a solid foundation for your business. 

If you prioritise a digital-first, multi-currency solution with personalised customer support and seamless Xero integration, Statrys can provide an alternative. While it is a Hong Kong-based business account, Statrys offers flexibility and convenience for Singapore-registered companies handling international transactions. Ultimately, the best choice depends on your specific requirements and banking preferences.