- The best business bank account in Singapore depends on your business size, transaction needs, and whether you operate locally or globally.
- Digital and fintech accounts offer lower fees and faster setup, making them ideal for startups and SMEs.
- Multi-currency support and FX fees are key factors for businesses dealing with international clients or suppliers.
- Traditional banks provide stronger lending, credibility, and in-person support for growing or established companies.
Choosing the best business bank account in Singapore shouldn’t take more time than setting up the business itself. With a wide range of options available, from traditional banks to digital-first providers, choosing the right account can significantly impact your costs, cash flow, and operational efficiency.
In this guide, we compare the 10 best business bank accounts in Singapore, evaluating them based on key factors such as fees, features, ease of setup, and suitability for different business types. Whether you’re a startup, SME, or expanding internationally, this comparison will help you identify the most suitable option for your needs.
Top 10 business bank accounts in Singapore (2026)
Whether you’re launching a startup, registering a company from overseas, or simply want a smooth, digital way to manage your business finances, these are Singapore’s top business account options this year.
Let’s start with the account built with founders in mind.
1. Wise Business
Wise Business is a global multi-currency account designed for companies that operate across borders. With local bank details in major currencies and real exchange rates, it’s ideal for international payments, freelancer payouts, and ecommerce settlements.
It’s a great tool if you already have a running business and need low-cost FX and batch payments, but it doesn’t offer incorporation help, or compliance support.
Pros:
- Ideal for businesses that heavily transact in foreign currencies
- Receive Amazon and other marketplace payouts faster
- Multi-user permissions and approval flows
- Supports business interest accounts in the UK (capital at risk)
Limitations:
- No incorporation, accounting, or compliance support
- Cannot open SGD local account details (you’ll still need a Singapore account for local GST refunds or vendor payments)
- No cheque handling or branch access
- Limited fit for Singapore startups needing local corporate documentation or secretary services
Best for:
Global businesses needing transparent FX and multi-currency holdings.
2. Sleek Business Account
The Sleek Business Account offers modern businesses a hassle-free way to start operating fast. There are no deposits, no monthly fees, no paperwork, and everything is done online, even if you’re based outside of Singapore.
This powerful virtual business account is available to all Sleek customers who incorporate, transfer their corporate secretary, or subscribe to Sleek’s accounting services.
It’s not a traditional bank account, but is regulated by MAS and backed by DBS and other Tier 1 banks for fund safeguarding. The account also comes with virtual card access and free local transfers.
Key features:
- $0 fees: No monthly charges, no annual fees, no setup cost, no minimum deposit
- Licensed & secure: Regulated by MAS under MPI license. Funds are safeguarded in a segregated account with DBS and other Tier 1 banks
- 100% online setup: No branch visits or local presence required. Open your account digitally from anywhere in the world
- Fast activation: Account setup in as little as 3–5 business days, post-incorporation or service transfer (subject to KYC)
- Send & receive transfers:
- Local (FAST) and international payments
- Incoming GIRO supported
- Incoming and outgoing PayNow available
- Currency Support: SGD only (multi-currency virtual wallets launching soon). International payments already supported in 12+ currencies via SWIFT.
- Virtual Visa Cards: Spend online or via Apple Pay / Google Wallet (coming soon)
- Money-back guarantee: 30-day refund if you’re not satisfied
Pros:
- All-in-one setup: Incorporation + business account + compliance
- Quick turnaround time with no hidden fees
- Perfect for foreign founders: no local visit or residency required
- Integrated with SleekBooks for accounting
- Visa virtual card included
- Accepts incoming international transfers in 12+ currencies (USD, EUR, GBP, etc.) via SWIFT with account auto-matching
- Saves up to 85% on international transaction fees on supported corridors
Limitations:
- No physical branch access or cheque/cash transactions
- Currently supports SGD only (multi-currency rollout in progress)
Best for:
- Founders incorporating their business or transferring services to Sleek
- Foreign entrepreneurs setting up remotely
- Startups that want fast, paper-free onboarding and local/international transfers
Why Sleek stands out:
It combines incorporation + banking + compliance in one platform, which is rare in Singapore.
3. Aspire Business Account
Aspire is a digital finance platform designed for startups and digital SMEs looking to simplify expenses, earn SaaS cashback, and manage cross-border payments without high fees.
With its slick interface and multi-currency support, Aspire offers a powerful alternative to traditional banking. However, it relies on licensed partners for certain regulated services and does not offer business incorporation or compliance support.
Pros:
- Full-featured corporate card system and rewards
- Transparent, low-cost international transfers
- Native expense and accounting automation
- Great for growth-stage teams and digital operators
Limitations:
- Exempt from MAS licensing and works with licensed partners for key services
- Cross-border payments provided via partners under separate T&Cs
- No support for PayNow, GIRO, or local SGD cheque payments
- No company incorporation, secretary services, or tax filing tools
- Less suitable for compliance-focused or regulated industries
Best for:
SMEs, freelancers, and startups looking for local transfers, cashback, and business tools.
4. Airwallex Business Account
Airwallex offers a robust global finance platform for companies with cross-border operations. With virtual multi-currency accounts, interbank FX rates, and same-day international transfers, it’s ideal for ecommerce, SaaS, and remote-first teams that need to manage payments, payroll, and expenses across markets.
Pros:
- One of the best FX platforms for global businesses
- Strong security and global infrastructure
- No FX fees on international card spend from multi-currency wallet
- Supports growing teams with advanced spend controls and automations
Limitations:
- No incorporation or secretarial support for business setup
- No support for GIRO, PayNow, or SGD cheque payments
- Better suited as a supplementary finance platform, not a standalone local solution
Best for:
Ecommerce and fast‑scaling businesses needing global collection and payments.
5. DBS Business Multi-Currency Account
DBS is one of Singapore’s most trusted banks. Its Business Multi-Currency Account supports 13 currencies and has a strong digital banking infrastructure. It’s a robust choice for SMEs with regional operations and higher transaction volumes.
That said, opening a DBS business account often involves longer processing times, higher balances to waive fees, and additional paperwork. This makes it less ideal for startups or foreign founders seeking a faster, paper-free experience.
Pros:
- Trusted brand and extensive branch network
- Multi-currency support
- Cashback-enabled corporate debit card
- SME-friendly Starter Bundle for newly incorporated firms
Limitations:
- $10K average daily balance required to waive monthly service charge (Standard)
- Limited to local owners for online application
- Branch visits and processing delays for foreigners or more complex setups
- No integration with incorporation or compliance tools
- Not ideal for founders seeking fast, paper-free startup launch
Best for:
Local SMEs needing SGD + FX support with branch access.
6. OCBC Business Growth Account
OCBC’s Business Growth Account is designed to support startups and SMEs in Singapore with a solid set of banking features and local payment tools. It offers a fully digital account opening process, cashback rewards, and more.
While it’s a dependable account for local businesses, it still comes with minimum deposit and monthly fees, lacks automation for compliance, and doesn’t include incorporation or secretary services.
Pros:
- Strong local brand with award-winning SME support
- Digital onboarding via Singpass (instant account number upon approval)
- Cashback + bundled multi-currency account
- Sector-specific tools (e.g., OneCollect for F&B, healthcare, logistics)
- Fire insurance and access to OCBC’s cross-border business network
Limitations:
- S$1,000 deposit required to open
- Monthly fees apply beyond trial period
- No built-in company incorporation, accounting, or secretarial support
- SGD-only for the main account (FX wallet is separate)
- Slower onboarding for foreign directors or entities
- Does not include incorporation, secretary, or tax support services
Best for:
Local startups and SMEs needing in-person support, GIRO/FAST, and cashback card features.
7. UOB eBusiness Account
The UOB eBusiness Account is built for SMEs that prioritise cash flow, frequent payments, and digital banking tools. With cashback rewards, rebates on local transfers, and free GIRO payroll, it’s a strong choice for growing businesses that want reliable local banking features and are willing to maintain a higher balance.
However, the account comes with a S$1,000 initial deposit, S$5,000 minimum daily balance, and a 12-month lock-in period. This might make it less ideal for early-stage or overseas founders.
Pros:
- Strong local payments infrastructure
- Digital-first tools for transaction-heavy SMEs
- Generous rebates and cashback via online banking
- Free access to bulk GIRO, alerts, and UOB apps
Limitations:
- High S$5,000 minimum average daily balance required to avoid fall-below fees (waived for first 12 months)
- S$1,000 minimum to open, plus penalties for early closure
- Not suitable for foreign founders without local directors
- No incorporation, compliance, or secretarial services included
- Less startup-friendly compared to other paperless, all-in-one onboarding options
Best for:
Transaction-heavy SMEs with local operations, payroll, and need for rebates and cashflow tools.
8. Maybank FlexiBiz Account
The Maybank FlexiBiz Account is built for SMEs and startups seeking a simple SGD current account with no monthly fees, 24/7 digital access, and competitive rebates. With attractive cashback tiers and digital payment incentives, it’s a compelling option for local businesses.
However, the account requires a S$1,000 deposit, enforces fall-below fees, and applies cheque charges.
Pros:
- No monthly account maintenance fee
- Attractive cash reward for new users (SG65 promo)
- Tiered rebates support digital migration from cheques
- Supports FAST, GIRO, PayNow, MEPS
- Interest-bearing current account with e-payments focus
Limitations:
- S$1,000 deposit required
- Cheque charges apply
- Early closure fee: S$50 if closed within 6 months
- No company incorporation or compliance services
- Not ideal for foreign directors or non-resident founders
- No API-level integrations with accounting tools or secretary services
Best for:
Small businesses operating in Singapore/Malaysia with stable deposits and rebate needs.
9. Revolut Business
Revolut Business is a global finance platform for companies operating across multiple countries and currencies. Its multi-tier plans, robust spend controls, and seamless integrations are ideal for fast-scaling teams that need flexibility, automation, and low-cost FX.
However, Revolut does not hold a banking licence in Singapore, which limits local functionality like SGD GIRO, PayNow, or cheque handling. Also, its pricing tiers can be steep, and some features are locked behind higher plans.
Pros:
- Excellent global spend and FX control
- Great for distributed teams and ecommerce
- Multi-entity control and card management
Limitations:
- Not a licensed bank in Singapore
- No SGD GIRO, FAST, PayNow, or cheque support
- No local branch access or regulated deposit scheme (like SDIC)
- No company incorporation, tax, or secretary services
Best for:
Tech‑savvy teams that need budgeting tools and FX flexibility.
10. YouBiz (by YouTrip)
YouBiz, by YouTrip, is a fintech business account designed for SMEs that spend globally and want to save on FX and earn cashback. It combines multi-currency wallets with unlimited virtual and physical cards, real-time spend controls, and strong perks like 0% FX fees and 1% unlimited cashback on all spend.
However, YouBiz is a payments and expense platform, not a full business account with incorporation or compliance support. It also does not currently support GIRO, PayNow, or SGD cheque handling.
Pros:
- Best-in-class for international card spend savings
- Unlimited cashback with no caps or minimum spend
- Great for digital teams with frequent subscriptions and travel expenses
- Fast setup and multi-user permission structure
Limitations:
- No SGD cheque, PayNow, or GIRO collection support
- Not a full MAS-regulated business bank account
- No accounting or corporate secretary services
- No incorporation or business setup tools
- Designed primarily as a card + expense management platform
Best for:
Digital SMEs with heavy card spend, international payments, and cashback needs
Top 10 Business Bank Accounts in Singapore (Quick Comparison)
|
Provider |
Best For |
Monthly Fees |
Minimum Balance |
Multi-Currency |
Key Benefit |
|
Wise Business |
Global businesses |
Low |
None |
Yes |
Real FX rates + global account details |
|
Sleek Business Account |
Startups & foreign founders |
$0 |
None |
Limited (SGD) |
Incorporation + banking + compliance in one |
|
Aspire Business Account |
Startups & digital SMEs |
$0 |
None |
Yes |
Expense management + cashback tools |
|
Airwallex Business Account |
Scaling global companies |
Low |
None |
Yes |
Advanced global payments & FX |
|
DBS Business Multi-Currency Account |
Established SMEs |
$$ |
~$10K to waive fees |
Yes |
Trusted bank + strong local ecosystem |
|
OCBC Business Growth Account |
Local SMEs |
$$ |
~$1K |
Limited |
Cashback + local SME tools |
|
UOB eBusiness Account |
Transaction-heavy SMEs |
$$ |
~$5K |
Limited |
Rebates + payroll & GIRO support |
|
Maybank FlexiBiz Account |
Small local businesses |
Low |
~$1K |
Limited |
No monthly fee + rebates |
|
Revolut Business |
Tech-savvy global teams |
Tiered |
None |
Yes |
Spend control + FX flexibility |
|
YouBiz (YouTrip) |
Card-heavy digital SMEs |
Low |
None |
Yes |
0% FX + unlimited cashback |
Features and terms may change. Always check with the provider before applying.
What to consider before choosing a business bank account in Singapore
Before you choose a bank or fintech provider, get clear on your business goals and what features will help you grow.
Here are the key factors to keep in mind when comparing options for the best business bank account Singapore:
Minimum deposit
Some business accounts require a minimum deposit to open, others let you start with $0. If you’re managing cash carefully in the early stages, look for low or no-deposit options.
Fall-below fees
Many banks apply a fee if your account balance drops below a set threshold. These charges can add up quickly, especially for new businesses. Some accounts waive this fee for the first year or offer flexible balance requirements.
Monthly fees
Monthly service fees are common, but not always necessary. Some digital accounts skip these charges entirely or offer waivers for startups. Compare what’s included in the fee, like free transfers or access to digital tools.
Multi-currency support
If you work with overseas clients or suppliers, a multi-currency account can help you receive and hold funds in foreign currencies without conversion fees. Great for ecommerce, digital services, and global teams.
Payment features
Look for easy ways to send and receive local and international payments, including FAST, PayNow, or SWIFT transfers. Some providers also offer batch payments and scheduled transfers to streamline operations.
Digital tools & integrations
The best business bank account Singapore may offer online banking, mobile apps, and integrations with tools like Xero, QuickBooks, or accounting software. This can help you track finances in real time and stay organised.
Business cards
Need to issue cards for team members or handle business spending on the go? Check if the account offers physical and virtual cards, cashback perks, or expense tracking tools.
Scalability
Think beyond today. Choose an account that can grow with your business, whether that means adding team access, upgrading account tiers, or accessing credit lines later.
Ease of setup
Some banks require branch visits and paperwork, while others let you apply fully online. If you prefer speed and convenience, consider providers that offer remote onboarding.
Customer service
If something goes wrong, fast and reliable support can make all the difference. Look for providers that offer responsive help via chat, phone, or email, especially if you’re operating remotely or across time zones.
Why Sleek is a top business account in Singapore
Opening a business account in Singapore can be more complicated than it should be. Long queues at bank branches, surprise fees, minimum deposits, and paperwork that goes in circles; it’s not exactly founder-friendly.
Traditional banks work well for some, and fintechs offer global features. But both often fall short when it comes to local setup, compliance, or ease of use for new businesses.
This is exactly the gap Sleek was built to fill. It’s designed for entrepreneurs who want to skip the admin and get started faster:
- Open your business account fully online, even if you’re overseas
- No minimum deposit, no monthly fees, no in-person appointments
- Combine your account with company incorporation, GST, and bookkeeping
- Access multi-currency features, invoicing tools, and support in one place
For founders who’d rather build than battle red tape, Sleek helps you set up in Singapore without flights, forms, or fees.
450,000
businesses worldwide.
from 4,100+ reviews.
satisfaction rate from
16,000 surveyed clients.
FAQs: Choosing a Business Bank Account in Singapore
What types of business bank accounts are available in Singapore?
Businesses in Singapore can choose from traditional current accounts, multi-currency accounts, and digital-first fintech accounts. Traditional banks offer full-service features like lending and branch access, while fintech providers focus on faster onboarding, lower fees, and integrations. The right choice depends on whether your business prioritises local operations, international transactions, or operational efficiency.
Can I open a business bank account in Singapore without a minimum deposit?
Yes, some digital business account providers offer zero minimum deposit and no ongoing balance requirements. However, many traditional banks still require an initial deposit (often around S$1,000 or more) and impose fall-below fees. Startups and small businesses often prefer low-cost digital options to avoid locking up capital unnecessarily.
Can foreigners open a business bank account in Singapore remotely?
In some cases, yes. Several digital providers support fully online onboarding for eligible businesses, allowing foreign founders to open accounts without being physically present. However, traditional banks may still require in-person verification, especially for companies with complex ownership structures or higher compliance risk profiles.
Which business bank accounts support multi-currency transactions?
Multi-currency accounts are offered by both traditional banks and fintech providers. These accounts allow businesses to hold, send, and receive funds in multiple currencies, often with better exchange rates. They are particularly useful for companies dealing with international clients, suppliers, or cross-border operations.
Do business bank accounts in Singapore integrate with accounting software?
Many modern business accounts integrate with accounting platforms such as Xero, QuickBooks, and Zoho. These integrations help automate bookkeeping, reconcile transactions, and streamline financial reporting. However, the level of integration varies, so businesses should evaluate compatibility based on their existing accounting workflows.
