Features
Fees
Customer Support
Ease of opening an account
Final Verdict
MariBank is a great fit for local Singapore businesses, but it’s too limited for those with international needs.
MariBank is a good fit for startups and small businesses operating entirely within Singapore. It has paperless onboarding, 1% interest on balances, and zero monthly fees, which offers clear value for local operations.
However, Mari Business is not designed for businesses with international needs. Incoming overseas payments are capped at SGD 5,000, and outgoing transfers must be at least SGD 500, which can be limiting for small payouts. There's also an SGD 200,000 cap per transfer to non-MariBank accounts.
Combined with no multi-currency support, no payment cards, and no accounting integrations, MariBank may not meet the needs of companies managing cross-border transactions or scaling financial operations.
Key Highlights
- Local payments via FAST and PayNow
- 1% p.a. interest on all balances
- Fully digital onboarding via Singpass
- 24/7 customer service by phone
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Pros ✅
Cons ❌
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Mari Business Account Features
MariBank’s Business Account is designed for simplicity, targeting startups and small businesses in Singapore. It includes local transfers via PayNow and FAST, 1% p.a. interest on all balances, and a clean, mobile-first experience.
The mobile app allows seamless switching between personal and business accounts, which is great for sole proprietors managing both.
However, MariBank has clear limitations. Incoming overseas payments are capped at SGD 5,000, and funds can only be received in Singapore dollars. For example, if you're a consultant billing an overseas client more than SGD 5,000, you may need to request payment in instalments. Outgoing international transfers via SWIFT must be at least SGD 500, which can be restrictive for small payments like paying freelancers or overseas contractors. All local or overseas payments to non-MariBank accounts are capped at SGD 200,000 per transaction, which may not suit businesses with regular high-value transfers.
You can find a full breakdown of these transfer thresholds in the table below.
| Transfer Type | Minimum | Maximum |
|---|---|---|
| Local transfers (to MariBank accounts) | SGD 0.01 | SGD 10,000,000 |
| Local transfers (to non-MariBank accounts) | SGD 0.01 | SGD 200,000 |
| PayNow transfers | SGD 0.01 | SGD 200,000 |
| International transfers | SGD 500 | SGD 200,000 |
Additionally, there are no cards for payments or employee spending and no integrations with accounting platforms like Xero. These gaps may create friction for businesses needing financial automation or international reach.
Lastly, deposits are protected up to SGD 100,000 under the Deposit Insurance (DI) Scheme. Business financing options, including credit lines and term loans, are available separately for those who need additional funding.
Our Verdict: 6/10
MariBank covers the basics well with a clean app, free local transfers, and 1% interest on balances. It’s a practical choice for small businesses operating only in Singapore. |
Mari Business Account Fees
MariBank offers no monthly account fees and free local transfers.
For international payments, the base fee is SGD 3 per transfer. However, several currencies incur intermediary bank charges, which can raise total costs significantly, especially for USD transfers outside the US, where an extra SGD 25 apply.
Below is the breakdown for each currency transfer.
| Currency | Fee |
|---|---|
| Chinese Yuan | SGD 3 |
| Malaysian Ringgit | SGD 3 |
| US Dollar to the US | SGD 3 |
| US Dollar to other countries | SGD 3 + SGD 25 |
| Hong Kong Dollar | SGD 3 + SGD 25 |
| South Korean Won | SGD 3 + SGD 10 |
| Japanese Yen | SGD 3 + SGD 25 |
| Taiwan Dollar | SGD 3 + SGD 10 |
| Thai Baht | SGD 3 |
| Philippine Peso | SGD 3 |
| Indonesian Rupiah | SGD 3 |
For more pricing details, please refer to the Mari Business Account’s fees and rates page.
Our Verdict: 5/10
MariBank keeps domestic banking affordable with no monthly fees and free local transfers. The current overseas transfer promotion adds short-term value, but standard fees can rise sharply once it ends.
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MariBank Customer Support
MariBank offers 24/7 customer service, which is a plus for business owners needing assistance outside regular hours.
Support is available by phone (+65 6995 8688) and email: help@maribank.sg. You can request a callback by submitting an online form. A backup hotline (+65 6016 7190) is also available, but only if the main line is down.
The Help Centre is easy to navigate and covers common topics like account features and pricing. However, it’s only available in English.
As a digital bank, MariBank has no physical branches. There’s also no live chat or chatbot, which means getting help may take longer when the hotline is busy.
Our Verdict: 8/10
MariBank has strong customer support, offering 24/7 phone and email support, a clear Help Centre, and the option to request a callback.
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Opening a Mari Business Account
MariBank’s account opening process is designed for speed and simplicity, but it comes with strict eligibility rules. Only Singapore-registered businesses with individual shareholders or partners can apply. Corporate shareholding structures are not supported. All key individuals must be Singaporeans or permanent residents.
The application is entirely digital and can be completed through Singpass within 1 day. No document uploads are required, as details are pulled directly from Myinfo Business, which is efficient and saves time.
How to Apply
If your business is eligible, you can apply for the Mari Business Account as follows.
- Download the MariBank app from the Apple App Store, Google Play Store, or Huawei AppGallery.
- Register for a MariBank account with a valid Singapore mobile number.
- Open a Mari Business Account digitally with Singpass.
In most cases, the applications get approved within 1 - 2 working days. You can also open multiple Mari Business Accounts, as long as each one is tied to a different Unique Entity Number (UEN).
Our Verdict: 7/10The process is smooth and fully digital for eligible applicants, but strict rules on residency and shareholding limit access for foreign-owned or more complex structures. For businesses that meet the criteria, the fast, paperless setup is a clear advantage. |
Rating and Review
Google Play Store Rating: 4.6/5 (based on 4,090 reviews)
MariBank delivers on what it promises for basic savings and everyday banking. Fast setup, strong interest rates, and Shopee-linked benefits make it appealing for individual users and casual savers.
Face verification is a recurring issue. While it enhances security, users report frequent failures and limited alternatives for account access when it does not work.
Many reviews also mention slow customer support, especially when accounts are blocked or transactions are delayed. These situations are often related to compliance checks, which are standard for regulated financial institutions, but users expect clearer communication when issues arise.
Mari Business Account Alternative: Statrys
Statrys is a licensed payment service provider in Hong Kong, offering multi-currencies, including SGD, HKD, EUR, USD, and more, for businesses registered in Hong Kong, Singapore and the British Virgin Islands (BVI).
With Statrys, you can hold and manage 11 major currencies in one account, make and receive payments globally, and access transparent FX rates based on mid-market rates with no hidden markups.
Statrys offers both physical and virtual cards, so you can allocate budgets and track expenses easily. Integration with Xero also means less time spent on reconciliation and more time focused on growth.
Most importantly, support at Statrys is human. Our multilingual team is ready to help via phone, live chat, WhatsApp, and WeChat, all tailored to your business needs.
Here’s a quick overview of what Statrys offers:
Our Rating Methodology
More info
Click "More info" to understand how we calculate our Mari Business Account ratings.
FAQs
Is it safe to use MariBank in Singapore?
Yes, MariBank is considered safe. It is licensed by the Monetary Authority of Singapore (MAS) and complies with local regulatory standards. Deposits in Singapore dollars are insured up to SGD 100,000 under the SDIC scheme. Additionally, it uses industry-standard encryption, identity verification, and fraud monitoring to protect customer accounts.
How much does the Mari Business Account cost?
Is MariBank owned by Shopee?
Can I receive international payments with a Mari Business Account?
Does MariBank offer multi-currency accounts or payment cards?
Disclaimer
Statrys directly compete with MariBank in the payment industry. Click More info to read the full disclaimer on our review.
