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.
Here are our top picks to help you get started.
Our Top Picks
1st Choice
Best for businesses making regular cross-border payments that want predictable FX pricing and direct human support.
2nd
DBS Business Account
Best for Singapore companies under 3 years that want a traditional bank account with multi-currency support.
3rd
OCBC Business Growth Account
Best for Singapore SMEs focused on SGD payments that want debit card cashback and an optional multi-currency add-on.
Why Statrys?
Statrys differs from most accounts in the list by focusing on multi-currency payments and managing currency conversions rather than cashback or card rewards on local spending. With our business account, you can hold 11 currencies, make local payments across 12 currencies, and track SWIFT payments in real time. FX fees start from 0.1% above the mid-market rate with a free MT103 for every SWIFT payment you send.
This setup works well if your business regularly sends or receives cross-border payments and manages more than one currency. Businesses whose activity is mainly local can look at other accounts in this list that focus more on domestic banking needs.
Last reviewed: 27 January 2026.
1
Statrys Business Account
Statrys is a fintech payment institution offering multi-currency business accounts for companies incorporated in Singapore, Hong Kong, and the BVI. 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 $7B 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.
Statrys Key Features
- 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
Statrys Key Fees
| Types | Fees |
|---|---|
| Account Opening | Free |
| Monthly Fee | None |
| Domestic Payments |
Collect: Free Send via FAST: SGD 1.50 per transfer Send via MEPS: SGD 15 per transfer |
| International Payments (SWIFT) |
Collect: SGD 5 per transfer Send: SGD 20 per transfer |
| Local Payments to Other Markets |
Send USD, AUD, INR, EUR, GBP, SGD, IDR, PHP: SGD 4 per transfer Send THB, TRY, KRW: SGD 5.50 per transfer Send VND: SGD 8.50 per transfer |
| Payments Between Statrys Accounts | Singapore Account to Hong Kong Account: SGD 4 per transfer |
| FX Fee | From 0.1% above the mid-market rate |
Statrys Eligibility and Application
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
Is Statrys a Good Fit for You?
Good fit if
✅ You send or receive cross-border payments regularly and want predictable FX costs
✅ You manage multiple currencies and want predictable payment processing, not just competitive FX rates
✅ You want direct access to a real support team when issues arise
May not be a good fit if
❌ Your company is incorporated outside Singapore, Hong Kong, or the BVI
2
DBS Business Multi-Currency Account (Starter Bundle)
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 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.
Important: Once your business is more than three years old, the Starter Bundle no longer applies. You’ll need to switch to the standard DBS Business Multi-Currency Account, which typically comes with higher fees and additional requirements.
DBS Key Features
- 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
DBS Key Fees
| Types | Fees |
|---|---|
| Account Opening | Free for eligible SMEs (<3 years) |
| Initial Deposit Amount | None |
| Minimum Monthly Balance | None |
| Monthly Account Fee | SGD 10 |
| Local Payment |
Receive: Free Send: Free (excluding bulk and payroll payments) |
| Telegraphic Transfers |
Receive: SGD 10 Send: SGD 30 |
Please refer to the DBS pricing guide for detailed pricing information.
DBS Eligibility and Application
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
Is DBS a Good Fit for You?
Good fit if:
✅ Your company is incorporated in Singapore and is under 3 years old
✅ You want a traditional local bank account with everyday banking features
✅ You value bundle perks like debit card cashback and card FX benefits
May not be a good fit if:
❌ Your business is growing past the starter stage, and you want flat, predictable fees
❌ Your company has foreign shareholders,s and you want a fully online application
3
OCBC Business Growth Account
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 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.
OCBC Key Features
- 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
OCBC Key Fees
| Types | Fees |
|---|---|
| Account Opening Fee | Free |
| Initial Deposit Amount | SGD 1,000 |
| Minimum Monthly Balance | SGD 1,000 (SGD 15 fee applies if below) |
| Monthly Account Fee | SGD 10 (waived for the first 2 months) |
| Local Payment |
Outward GIRO: 80 free, then SGD 0.20/item FAST: 80 free, then SGD 0.50/item |
| Telegraphic Transfers |
Receive: SGD 10 Send: SGD 30 + agent/bank fees |
For other fees, please refer to the bank’s Business Banking Pricing Guide page.
OCBC Eligibility and Application
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
Is OCBC a Good Fit for You?
Good fit if:
✅ Your business is registered in Singapore and operates mainly in SGD
✅ You use a business debit card regularly and want cashback on daily spending
✅ You want to combine a local SGD account and a separate multi-currency account under one monthly fee
May not be a good fit if:
❌ You want an account with no minimum balance requirements
❌ You rely heavily on international payments rather than local spending
4
UOB eBusiness Account
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 essential transaction types such as 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.
One thing to note is that 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.
UOB Key Features
- 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
UOB Key Fees
| Types | Fees |
|---|---|
| Account Opening |
Free for local companies From SGD 500 for foreign-incorporated companies |
| Initial Deposit Amount | SGD 1,000 |
| Minimum Monthly Balance | SGD 5,000 (SGD 15 fee applies if below; waived for first 12 months) |
| Annual Fee | SGD 35 per year |
| Local Payment |
Receive: Free Send: SGD 0.5 (FAST), SGD 0.4 (GIRO) |
| Telegraphic Transfers |
Receive: SGD 10 (UOB account holder) or SGD 20 (non-account holder); additional agent/cable charges may apply Send: 1/16% commission (min S$10, max SGD 100 with FX / max SGD 300 without FX) + cable/agent fees |
For more details, go to the account service page and check the rates and fees section.
UOB Eligibility and Application
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
Tip: Read our full review of UOB for more information.
Is UOB a Good Fit for You?
Good fit if:
✅ Your business operates mainly in SGD with regular FAST or GIRO payments
✅ You run payroll digitally and want fee rebates on local transfers
✅ You prefer a traditional bank with solid local payment and payroll support
May not be a good fit if:
❌ You want an account with no or very low minimum balance requirements
❌ You need to hold or manage multiple currencies in one account
5
CIMB SME Account
Another choice catering to SME business owners is the CIMB SME Account , 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 for monitoring account activity. One thing to be aware of is that the CIMB SME Account is primarily designed for SGD-based usage and offers limited support for holding multiple currencies or handling frequent international transfers.
CIMB Key Features
- 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
- Telegraphic transfer fees waived for 12 months when made via BizChannel@CIMB (promotion valid until 31 March 2026; agent fees may still apply)
CIMB Key Fees
| Types | Fees |
|---|---|
| Account Opening | Free |
| Initial Deposit Amount | None |
| Minimum Monthly Balance | None |
| Monthly Account Fee | SGD 8 (the first 12 months are waived) |
| Local Payment | Free |
| Telegraphic Transfers | Free for 12 months, then SGD 15 (excluding agent/bank fees) |
You can refer to the CIMB Corporate Pricing Guide for more details.
CIMB Eligibility and Application
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
Is CIMB a Good Fit for You?
Good fit if
✅ You want a business account with no minimum balance and no fall-below fees
✅ You make high volumes of local SGD payments, including payroll
✅ You want to keep first-year banking costs as low as possible
May not be a good fit if
❌ You need to hold multiple currencies or manage frequent cross-border payments
❌ You want a single account that supports both local and international activity
6
Maybank FlexiBiz Account
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 or your balances run lower.
Maybank Key Features
- 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.
Maybank Key Fees
| Types | Fees |
|---|---|
| Account Opening Fee | Free |
| Initial Deposit Amount | SGD 1,000 |
| Minimum Monthly Balance | SGD 1,000 (SGD 10 fee if below) |
| Monthly Account Fee | None |
| Local Payment |
Receive: Free Send to Maybank account: Free Send to non-Maybank account: SGD 0.5 (FAST), SGD 0.2 (GIRO) |
| Telegraphic Transfers |
Receive: SGD 10 Send: SGD 20 + 0.125% commission |
For more pricing information, please refer to the fees page for the Current Account and the Corporate Pricing Guide (updated January 2026).
Maybank Eligibility and Application
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
Is Maybank a Good Fit for You?
Good fit if
✅ You keep higher SGD balances and want interest and rebates on unused cash
✅ You make regular local payments and want benefits based on how much you keep in the account
✅ You are comfortable with rewards that depend on balance tiers
May not be a good fit if
❌ Your balances fluctuate, and you prefer flat, usage-based fees
❌ You need to hold or manage multiple currencies within the same account
7
ANEXT Business 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 supports holding up to 4 currencies and allows international transfers in 10 currencies. It’s easy to get started with 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.
Tip: Explore the full ANEXT Business Account review for more details.
ANEXT Key Features
- 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
ANEXT Key Fees
| Types | Fees |
|---|---|
| Account Opening | Free |
| Initial Deposit Amount | None |
| Minimum Monthly Balance | None |
| Monthly Account Fee | None |
| Local Payment | Free (only SGD transfers within Singapore) |
| Telegraphic Transfers |
Receive: Free (excluding agent/bank fees) Send: SGD 15 (BEN/SHA) or SGD 50 (OUR) + agent/bank fees |
For more information, see the official ANEXT fee schedule .
ANEXT Eligibility and Application
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
Is ANEXT a Good Fit for You?
Good fit if
✅ You want a fully digital bank account with no branch visits
✅ You want no minimum balance and no monthly account fees
✅ You are comfortable managing banking entirely online
May not be a good fit if
❌ Your company is registered outside Singapore
❌ You need to operate more than one business account under the same entity
❌ You want wider currency support or more traditional banking features
8
Wise Business Account
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 businesses in Singapore, Wise offers a low-entry setup with no minimum balance or deposit requirement. You can hold and convert currencies at transparent FX rates, though receiving funds in certain foreign currencies comes with additional fees.
Wise Key Features
- 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
Wise Key Fees
| Types | Fees |
|---|---|
| Account Opening |
Free SGD 99 one-time fee to unlock account details (for receiving in 22 currencies) |
| Initial Deposit Amount | None |
| Minimum Monthly Balance | None |
| Monthly Account Fee | None |
| Sending Payment | From 0.26% (varies by currency and payment method) |
| Receiving Payment |
Local: Free International: Fixed fees by currency (e.g. USD 6.11 for USD, GBP 2.16 for GBP) |
For the full list of fees and supported currencies, visit the Wise Business Account pricing page.
Wise Eligibility and Application
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
Is Wise a Good Fit for You?
Good fit if
✅ You send or receive payments in many currencies and want one global account
✅ You want FX fees shown upfront and are comfortable managing everything yourself
✅ You do not need relationship-manager or branch support
May not be a good fit if
❌ You want guided onboarding or a dedicated relationship manager
❌ You need a full local bank account with branch access or cheque services
Tip: Check out the key things to know before opening a Wise Business account to make sure it's the right fit for your needs.
9
Aspire Business Account
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.
Aspire Key Features
- 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
Aspire Key Fees
| Types | Fees |
|---|---|
| Account Opening | Free |
| Initial Deposit Amount | None |
| Minimum Monthly Balance | None |
| Monthly Account Fee | None |
| Local Transfer | PayNow, FAST, scheduled, and recurring transfers: Free |
| International Transfer |
Incoming: SGD 35 (SGD), USD 8 (others) Outgoing: USD 15 (SHA), USD 30 (OURS) |
| FX Rate |
Send: From 0.23% Receive: From 0.34% |
For detailed information, visit the Aspire Business Account pricing page.
Aspire Eligibility and Application
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.
Note: Companies with corporate shareholders holding over 25% may need to submit shareholding certificates or equivalent documents.
Is Aspire a Good Fit for You?
Good fit if
✅ You pay regularly for SaaS, ads, or online tools and want cashback on spend
✅ You need expense cards and team spend controls in the same platform
✅ You want a fully online account with no balance requirements
May not be a good fit if
❌ Your company is incorporated outside Aspire’s supported jurisdictions
❌ You need broader currency coverage or traditional banking features
Tip: Looking for a deep dive into Aspire App? Check out our review of Aspire Singapore.
Key Factors to Consider When Opening a 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.
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 do not require an initial deposit, such as DBS (Starter Bundle) and CIMB. Others, including OCBC, UOB, and Maybank, require upfront funding of SGD 1,000, as shown in the fee tables.
If you are an early-stage or want to keep cash flexible, accounts with no initial deposit reduce the upfront funding required to open the account.
Monthly or Annual Fees
Cost structures differ clearly between providers. If you want predictable costs, you are generally choosing among no account fees, such as Statrys, ANEXT, Aspire, and Wise.
Others charge fixed maintenance fees, such as DBS monthly fees, UOB annual fees, or CIMB fees 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
Cost structures differ clearly between providers. 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
Transaction fees should match how your business moves money. 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 Option
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 places, online tools can make payment approvals and account control easier to handle.
Multi-Currency Support
Multi-currency accounts serve different needs. 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, as shown in the table.
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.
Bottom Line
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, such as Statrys.
FAQs
Which bank is best for businesses in Singapore?
DBS, OCBC, UOB, CIMB, Maybank, and ANEXT Bank offer some of the best options for business accounts in Singapore. However, the best bank for your business will ultimately depend on your banking requirements and preferences, such as digital-only banking, interest rates, and multi-currency capabilities.
