ANEXT Bank Review 2025: Pros, Cons & What To Use Instead

ANEXT is a licensed digital bank in Singapore offering business banking services tailored to Singapore-registered companies. ANEXT accounts offer multi-currency support (SGD, CNH, USD, and EUR) and include practical tools like batch transfers and daily interest on balances. It’s best suited for SMEs that need a straightforward tool to move money without the need for advanced finance features.

Local bank transfers are fast and free, and the batch payment tool is useful for handling payroll or recurring supplier payments. 

However, ANEXT lacks features for financial management. There’s no expense tracking, no accounting integrations, and FX markups aren’t disclosed, making it hard to predict costs for international payments. Support is limited to office hours, and only Singapore-incorporated entities are eligible.

Key Highlights

• Hold balances in SGD, USD, EUR, and CNH
• Earn 1% p.a. daily interest on SGD, USD, and EUR
• Free local transfers via FAST, GIRO, MEPS, and PayNow
• Batch payments for up to 100 transfers at once
• International payments in 9+ currencies via SWIFT
• Fully digital account setup with Singpass and Corppass

ANEXT Bank offers financial services built for digital-first SMEs. The account supports SGD, USD, EUR, and CNH, and you can earn a daily interest rate of 1% on SGD, USD, and EUR balances, making it a useful option for businesses holding funds across multiple currencies.

Local transfers are unlimited and free, supporting FAST, GIRO, MEPS, and PayNow. For international payments, you can send funds via the SWIFT network in CNH, EUR, GBP, HKD, JPY, KRW, MYR, THB, and USD. Conversion fees are displayed upfront before confirming each transaction. Incoming payments in unsupported currencies are automatically converted to USD and credited to your account.

The batch payment feature allows you to send up to 100 transfers in a single click, making it ideal for payroll and recurring supplier payments.

However, there are a few gaps. Cheques and GIRO direct debit are not supported, which may be a limitation for businesses that rely on those channels for collections or recurring bill payments. There’s also no integration with accounting software or access to team payment cards, features that are common among competitors.

ANEXT Bank removes common cost barriers for startups and small businesses. There are no account opening charges, no monthly maintenance fees, and no minimum balance requirement, which makes it easier to get started compared to traditional banks.

Let’s look at the fees & charges for ANEXT’s business account services.

For detailed information on ANEXT's business loan fees, please refer to ANEXT’s fee schedule.

ANEXT provides support through multiple channels, including

• Hotline: 1800 268 8888 (Singapore), (65) 6813 3688 (Outside of Singapore)
• Web Call
• Contact form

Their business hours are Monday through Friday, 9:00 AM to 6:00 PM (UTC+8), excluding public holidays. They also provide FAQs in English for quick answers on a range of topics, such as managing your accounts, transfers, and fees.

ANEXT accepts applications from all Singapore-incorporated businesses with an active Corppass account. The process is fully online and works across a range of entity types, including private limited companies (Pte. Ltd.), partnerships, and sole proprietorships.

Step 1

To apply, visit the ANEXT Bank registration page to start your application.

Step 2

Next, scan the QR code with the Singapass app to log in as a Corppass user. This allows ANEXT to retrieve your business information via Myinfo Business.

In simple cases, the account can be opened on the same day. If your structure involves foreign stakeholders or extra checks, it may take up to 14 business days.

ANEXT Bank Alternative: Statrys

Statrys is a licensed payment service provider in Hong Kong, offering multi-currency accounts for businesses registered in Hong Kong, Singapore and the British Virgin Islands (BVI).

With Statrys, you can hold and manage 11 major currencies, access transparent FX rates based on mid-market rates, and make global payments with full visibility, no hidden markups or surprise fees.

You’ll also get access to virtual and physical cards for team expenses, and built-in Xero integration to reduce your admin workload.

Every business account comes with a dedicated account manager. No chatbots. No generic replies. Our multilingual team is available through channels like WhatsApp, WeChat, and phone, making it easy to get help wherever you're doing business.

Here’s a quick overview of what Statrys offers: