Top 9 Business Accounts in Singapore in 2026

If you're running a business in Singapore, or planning to, opening the right business account is essential if you want to succeed in today’s market. It’s a foundation for everything from getting paid to managing expenses and expanding internationally.

In 2026, the trend is that you are no longer limited to just one or two choices. Singapore now offers a wide range of business accounts, from traditional banks to digital-first platforms, each with its own mix of fees, features, and perks.

This guide breaks down the 9 best business accounts available this year. We’ll show you what each account offers, how much it costs, and who it’s best for, so you can choose the one that helps your business grow.

Let’s take a closer look.

Statrys is a fintech payment institution offering multi-currency business accounts for companies incorporated in Singapore, Hong Kong, and the BVI. Through a fully online, paper-free onboarding process, SMEs and startups can open a Statrys business account to send and receive payments in multiple currencies, manage FX at competitive rates, and connect their account to everyday tools like accounting software.

Statrys offers regulated payment and FX services with a strong “human-first” approach, meaning every client gets access to real support from a dedicated team, making cross-border 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
• 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 Business Multi-Currency Account is offered by DBS, 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 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. 

• 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-registered private limited companies, sole proprietorships, partnerships, and LLPs
• Only businesses incorporated within the last three years qualify for the Starter Bundle
• Overseas-incorporated entities can apply with supporting documents

How to apply

• Only Singapore-incorporated companies fully owned by Singapore Citizens or PRs can apply online via DBS IDEAL
• Businesses with foreign shareholders or corporate owners must apply at a DBS branch and may need a Letter of Recommendation from a DBS overseas branch or a reputable bank

Please refer to this checklist for the required documents based on your business type.

Oversea-Chinese Banking Corporation Limited (OCBC) is a Singaporean multinational bank operating through subsidiaries in several countries, primarily in Southeast Asia. It offers various types of personal and business banking services, including the OCBC Business Growth Account.

This account is suitable if you’re looking for an SGD-based account with spending benefits. You can also open it together with the OCBC Multi-Currency Business account to have two accounts under one monthly fee, one local SGD-based account and one multi-currency account. However, this bundled account option is only available for Singapore-registered businesses. 

• Earn up to 1% cashback on business spending with a free debit car
• 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

• Only businesses wholly owned by Singapore Citizens or PRs and opening their first OCBC Business Account qualify for instant online setup with SingPass
• All other Singapore-registered businesses can still apply online; OCBC will follow up directly to assist with the process

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.

The UOB eBusiness account is a straightforward SGD current account designed for routine local business payments. It supports essential transaction types such as FAST and GIRO transfers, and bulk payroll processing, covering most payment needs for SMEs managing suppliers, recurring invoices, and employee salaries. However, it offers limited functionality for multi-currency or cross-border transactions. You can manage the account through the UOB Infinity digital banking platform or the UOB SME mobile app.

• Free FAST and PayNow FAST transactions
• 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

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

Who can apply

• Singapore-registered and foreign-incorporated entities
• Eligible types: sole proprietorships, partnerships, LLPs, private limited companies, societies, clubs, associations, clans, professional practices, and MCSTs

How to apply

• Singapore-registered entities fully owned by Citizens or PRs can apply online via Singpass
• Foreign-incorporated or mixed-ownership companies must apply with full documentation
• Applications can also be made at a UOB branch with supporting documents

Another choice catering to SME business owners is the CIMB SME Account, a product of CIMB, a Malaysian bank headquartered in Kuala Lumpur that operates across ASEAN's fast-growing markets. 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.

• No initial deposit or minimum balance required
• Unlimited free FAST, GIRO, and payroll transactions via BizChannel@CIMB
• SGD 0 monthly account fee for the first 12 months (SGD 8 thereafter)
• Free e-Alerts for instant transaction notifications
• Free telegraphic transfers for 12 months via BizChannel@CIMB (promotion valid until 31 Dec 2025)

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

Who can apply

• Sole proprietorships, partnerships, and private or public companies
• Incorporated in Singapore, Malaysia, or other countries

How to apply

• Singapore- and Malaysia-registered businesses can apply online
• Other foreign entities can apply through a CIMB Bank Representative

The Maybank FlexiBiz Account is a convenient and cost-effective option for businesses, provided by Maybank, a Malaysian universal bank with core markets in Malaysia, Singapore, and Indonesia.

The account offers generous cashback perks and includes incentives for new customers, such as Bonus Interest available until June 2025. Its interest rate increases as your account balance grows, making it a rewarding choice for businesses looking for some returns.

• 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 July 2025).

Who can apply

• Businesses incorporated in Singapore, including sole proprietorships, partnerships, LLPs, private limited companies, 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, including the ANEXT Business Account.

The ANEXT Business Account supports holding up to 4 currencies and allows international transfers in 9 currencies. It’s easy to get started with no opening fee, no initial deposit, and no minimum balance required.

• Hold and transact in SGD, USD, CNH, and EUR
• Earn 1% daily interest on SGD and USD balances
• Unlimited free local transfers and inward telegraphic transfers
• Send international transfers in up to nine major 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

• Sole proprietorships, partnerships, limited partnerships, LLPs, and private limited companies incorporated in Singapore
• Must have an active Corppass account for online application

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.  Although not a traditional bank account, it enables users to hold and exchange over 40 currencies and offers both physical and digital debit cards.

For businesses in Singapore, Wise offers a low-entry option with no deposit requirement. It provides a multi-currency account that lets you hold and convert currencies for free. However, if you want to receive foreign currencies, there is a fee involved.

• 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 up to 1.66% on SGD balances, with returns credited daily (capital at risk)
• Batch payments: Pay up to 1,000 recipients at once
• Multi-currency debit cards (physical or virtual) for business spending
• Seamless accounting integration with Xero, QuickBooks, and more

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)
• Trusts and charities are eligible only if registered in the EEA

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

Aspire is another non-bank provider, functioning as a financial platform headquartered in Singapore, with offices in both Singapore and Hong Kong. It offers business payment solutions tailored for startups, small and medium-sized enterprises, and mid-sized companies with up to 1,000 employees worldwide. 

The account features and supported currencies vary depending on where your company is registered. For companies registered in Singapore, Aspire supports up to 4 currencies.

• Multi-currency account in SGD, USD, EUR, and GBP
• Free local transfers and low-cost international payments in 30+ currencies
• 1% cashback on SaaS and digital marketing spend via Aspire corporate cards
• Expense management and team controls with virtual and physical cards
• Seamless accounting integration with Xero, QuickBooks, and more

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.

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 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.

Eligibility Requirements 

Most banks require your business to be registered in Singapore with a Unique Entity Number (UEN) to open a business bank account. If you’re a sole proprietor or freelancer, check if digital providers like Wise or Aspire accept your business type. Foreign-incorporated companies may also face higher setup fees or longer verification times.

Initial Deposit

This is the amount needed to open your account. For startups and new SMEs, banks such as DBS or CIMB offer accounts with no initial deposit, making them more accessible if you’re working with limited capital.

Monthly or Annual Fees

Many corporate accounts charge a monthly or annual account maintenance fee. SMEs can reduce costs by choosing providers that waive fees during the first year or for high balances. Digital accounts like ANEXT or Aspire typically skip these charges altogether.

Minimum Balance and Fall-Below Fee

Check the required minimum balance to avoid penalties. Startups with fluctuating cash flow should look for zero-balance options, while established SMEs may benefit from accounts offering interest or rebates at higher balance tiers.

Transaction Fees

Check for fees associated with day-to-day transactions. If your business makes frequent local transfers, CIMB or UOB offer better value, whereas Wise and DBS excel for global payments.

Digital Banking Option

Prioritise providers 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. This is essential for SMEs and startups operating remotely or managing multiple team members.

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. Wise and DBS provide broad currency support ideal for cross-border operations.

Transaction Limits

Ensure the account's daily or monthly transaction limits are sufficient for your business. SMEs handling bulk payroll or supplier payments should confirm there’s enough capacity to avoid delays or fees.

As you can see, there are plenty of business account options available in Singapore, each offering different features. The key is to focus on what your business truly needs, whether free local transfers, multi-currency support, low fees, or easy online onboarding, and compare accounts carefully to choose one that helps your business manage finances smoothly without cutting into your profits.