The best neobanks in Singapore are now the top choice for founders who’ve just registered a business and want to avoid the delays, fees, and paperwork of traditional banks.
With faster onboarding, transparent pricing, and modern tools tailored for digital-first businesses, neobanks offer a refreshing alternative to outdated banking systems.
Whether you’re managing local payments, dealing with international clients, or simply trying to cut down on admin, this guide covers:
- What neobanks are
- What to consider while choosing a neobank in Singapore
- Which neobanks are actually worth opting for in 2026
Let’s dive in.
What is a Neobank?
A neobank is a fully digital bank that provides services such as current or savings accounts, international transfers, payment cards, and financial tools. Everything is done online, with no need for physical branches.
But they are more than just convenient apps. The best neobanks in Singapore are designed to help you:
- Send and receive money quickly
- Track expenses and manage budgets
- Simplify compliance and accounting
- Make international payments with competitive foreign exchange rates
- Open an account without delays or in-person appointments
In Singapore, some neobanks operate under digital banking licences issued by the Monetary Authority of Singapore (MAS). Others are fintech platforms that partner with licensed financial institutions to offer secure and regulated banking services.
Open your neobank account with confidence.
What to consider while choosing a business neobank
Not all neobanks offer the same features, and what works for a freelancer might not suit a growing company. Before you choose, it helps to focus on what your business actually needs.
Here are a few things to consider:
- Speed of account opening: Can you sign up online in minutes, or are you waiting days to get verified?
- Cost structure: Look for zero monthly fees, clear transaction costs, and no surprise charges.
- Support for international payments: If you work with overseas clients or suppliers, multi-currency accounts and competitive FX rates matter.
- Compliance and accounting support: Some platforms offer integration with tools like Xero, and even help with ACRA requirements.
- Team access and spend control: Businesses often need multiple users and the ability to issue cards with limits or roles.
Best neobanks in Singapore 2026
These seven digital banks are built to make business banking easier, from handling overseas payments to cutting down on day-to-day admin.
1. Sleek Business Account
Sleek offers a virtual business account designed for startups, SMEs, and remote teams that want a faster, simpler way to manage their business finances. It’s more than just a digital account. Sleek brings together business banking, bookkeeping, compliance, and tax support, all in one place.
Sleek is licensed as a Major Payment Institution by the Monetary Authority of Singapore (MAS) under the Payment Services Act. Client funds are securely safeguarded in segregated accounts with DBS and other Tier 1 banks. It is fully regulated and trusted by thousands of startups and SMEs across Singapore and beyond.
Key features:
- 100% online account opening from anywhere in the world
- No minimum balance, no annual fees, no setup charges
- FAST transfers for local payments, SWIFT for international transfers
- Receive payments in SGD, USD, EUR, GBP, AUD, HKD, and more
- PayNow support for incoming and outgoing payments
- Multi-user access and Visa virtual corporate cards
- Built-in bookkeeping and GST-ready accounting with SleekBooks
- Xero-compatible bookkeeping for Sleek accounting clients
Best for:
- Founders who want to open a business and an account in one simple flow
- SMEs that want to manage payments, compliance, and accounting in one place
- Digital-first teams looking to reduce admin and stay audit-ready
2. Trust Bank
Trust Bank is a digital-only bank in Singapore created through a partnership between Standard Chartered and FairPrice Group. It offers full retail banking services with a strong focus on everyday savings, zero fees, and seamless mobile access.
Key features:
- Credit card with FairPrice rewards
- FAST transfers and ATM access via Standard Chartered
- Linkable to NTUC membership
- SDIC-insured deposits
- No annual, foreign transaction, or cash advance fees
- Savings account with up to 2.25% p.a. interest on deposits
Best for:
Everyday consumers and NTUC members in Singapore looking for a local bank with rewards and savings perks.
3. YouTrip
YouTrip is Singapore’s first multi-currency travel wallet paired with a prepaid Mastercard. Designed for personal use, it lets users pay overseas and online with competitive exchange rates and no hidden fees.
Key features:
- Spend in over 150 currencies with no FX markup
- In-app wallet supporting 12 currencies with live exchange
- Prepaid Mastercard with free virtual card access
- No annual fees or card fees
- Zero ATM withdrawal fees on the first S$400 monthly
- Cashback and merchant perks through YouTrip Perks
Best for:
Travellers, students, and individuals who shop or spend frequently in foreign currencies. Great for travel and online shopping, but not designed for business or company use.
4. Wise
Wise is a well-known digital wallet and international money transfer service that supports both personal and business users. It allows customers to hold, send, and receive funds in multiple currencies, with a focus on keeping exchange rates close to the mid-market rate.
Key features:
- Multi-currency business account
- Virtual and physical debit card
- Transparent foreign exchange rates
- No monthly account fees or minimum balance requirements
- Local bank details available in the US, UK, EU, and Australia
Best for:
Freelancers, remote workers, and international businesses that need frequent cross-border payments.
5. Aspire
Aspire is a neobank alternative designed for fast-growing digital businesses in Southeast Asia. It offers tools for cash flow management, credit access, and expense control.
Aspire is a finance platform designed for startups, SMEs, and digital-first businesses across Southeast Asia. It offers a unified dashboard for cash flow management, credit access, and expense control.
Key features:
- SGD multi-currency business account with no monthly fees
- Corporate cards for teams
- Expense tracking & approval workflows
- PayNow, GIRO, and FX support
- Temporarily exempt from MAS licensing
- Cross-border transfers via licensed partners
Best for:
Funded startups and small businesses that need more control over spend management and invoicing, but don’t need built-in GST or corporate tax features.
6. Revolut
Revolut is a global financial platform offering digital accounts with budgeting tools, currency exchange, and investment options. In Singapore, it’s licensed as a Major Payment Institution and provides regulated services including money transfers and trading.
Key features:
- Multi-currency wallets
- Virtual and physical cards
- Built-in budgeting and categorisation tools
- Stock, crypto, and commodities trading
- Vaults for saving and shared expenses
- Regulated by MAS with multiple plan tiers (Free, Premium, Metal)
Best for:
Individuals who want a tech-forward way to manage personal finances and investments.
7. ANEXT Bank
ANEXT Bank is a digital wholesale bank backed by the Ant Group. It targets global SMEs and offers digital solutions for cross-border trade, especially for eCommerce and supply chain financing. It provides a no-fee, multi-currency business account with tools to support cross-border trade, daily interest on balances, and smooth local and international transfers.
Key features:
- Multi-currency business account
- No setup, annual, or minimum balance fees
- SME loan and credit lines
- Cross-border payment tools
Best for:
Exporters, cross-border digital businesses, and SMEs needing financing and international reach.
Note: Features and terms may change. Always check with the provider before applying.
Why Sleek is one of the best neobanks in Singapore
Most neobanks focus on doing one thing well: saving on FX, offering fast account setup, or handing out stylish cards. But if you’re running a business in Singapore, those features alone aren’t enough.
What founders and small business owners really want is less hassle. They want fewer platforms, fewer compliance headaches, and more time to focus on growth.
That’s why more startups and small businesses are switching to Sleek. It’s not just banking. It’s everything your business needs, in one clean dashboard.
With the Sleek Business Account, you get:
- Local and international money transfers
- No monthly fees, no setup costs, and no initial deposit
- Multiple virtual corporate cards for your team
- Bookkeeping, GST filing, and ACRA compliance features
- Xero integration (Sleek is a Platinum Partner)
- Real-time human support when you need it
In short: Sleek is your bank, bookkeeper, and tax manager in one. It’s built by people who understand the pain of starting and growing a business in Singapore and designed to eliminate it.
With Sleek, you’re not alone. You’re backed by a team that gets it.
Unlock a smarter way to run your entire back office
FAQs on choosing one of the best neobanks in Singapore
Is it safe to use a neobank in Singapore?
Yes, using a neobank in Singapore is safe if it’s regulated. Licensed digital banks like GXS and Trust are insured by the SDIC. Fintech providers such as Sleek and Wise partner with MAS-regulated institutions to securely safeguard your funds in segregated Tier 1 bank accounts. Always check that your provider is licensed or working with a licensed partner.
Do I need to be in Singapore to open a neo bank account?
No, you do not need to be physically in Singapore. With Sleek, foreign founders can open a Singapore business account fully online, as long as the company is incorporated locally. There are no branch visits, long forms, or physical paperwork required.
Why are neobanks better than traditional banks for startups?
Neobanks are faster to onboard, charge fewer fees, and offer digital features built for startups. Instead of juggling multiple banking, bookkeeping, and compliance tools, a solution like Sleek combines them into one dashboard. This helps you save time, reduce admin stress, and keep your business compliant.
Are Singapore neobanks like Sleek and Wise regulated?
Yes. Sleek is a licensed Major Payment Institution regulated by the MAS, and funds are stored securely with DBS and other leading banks. Wise and Aspire are also regulated or work with MAS-licensed partners. Always look for regulatory status before choosing a neobank.
Can I switch from Wise to Sleek?
Yes, switching from Wise to Sleek is easy and makes sense when your business is growing. Wise is great for personal and small cross-border transfers. But Sleek offers an upgrade with complete business tools, human support, and integrated bookkeeping, tax, and compliance services on one platform.
What makes Sleek different from other neobanks in Singapore?
What sets Sleek apart from other neobanks in Singapore is its all-in-one approach. Alongside a digital business account, you get bookkeeping, GST registration and filing support, and ACRA compliance, all backed by expert support. It’s a smarter way to run your back office, from incorporation to scaling.
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