Take a look at the top GBP business bank accounts for non-UK residents in Singapore
- Singapore businesses can send, receive, hold and convert GBP through multi-currency accounts or foreign currency current accounts
- OCBC, DBS, and UOB offer multi-currency accounts, allowing businesses to transact in GBP alongside other supported currencies from a single account
- Maybank and CIMB offer foreign currency current accounts, with each account supporting a single currency, such as GBP
- The World Account is a multi-currency account that supports 20+ currencies, including USD, EUR, GBP, CNH and more, along with payments to 200+ countries and regions
Many Singapore businesses need to receive, hold or send GBP when trading with UK customers, suppliers or marketplaces. But, opening a business bank account as a non-UK resident can involve strict eligibility requirements like having a UK-registered company or in-person identity verification. Many Singapore businesses can instead use local business accounts that support GBP through multi-currency or foreign currency account options.
This guide compares six GBP-supporting business accounts available to Singapore businesses, including the World Account by WorldFirst.
What to look for in a GBP-supporting business account
- Account type: Choose between a multi-currency account which lets you hold multiple currencies including GBP, or a foreign currency account, which is designed specifically for GBP
- GBP capabilities: Check whether you can receive, hold and send GBP, and whether the account provides local UK account details for easier GBP payments
- Currency conversion: Compare the exchange rates and conversion fees for converting GBP to SGD or other currencies
- International transfers: Review SWIFT transfer fees, intermediary bank charges (if any) and typical processing times for GBP payments
- Business debit card: If you need a card, check whether it supports GBP transactions and whether foreign currency spending incurs additional fees
- Minimum balance: Some providers require a minimum balance to avoid monthly fees or maintain the account
- Eligibility: Review the provider’s eligibility requirements, such as Singapore business registration, company ownership criteria or in-person identity verification
→ Explore best foreign currency accounts in Singapore
Top business accounts for holding GBP in Singapore
1. OCBC Business Multi-Currency Account
The OCBC Business Multi-Currency Account allows Singapore businesses to hold, send and receive in 13 currencies, including GBP, EUR, USD, AUD and more through a single account.1 The account also integrates with software like Xero and QuickBooks.1
Pricing: No setup fee, initial deposit or fall-below fee; S$10 monthly fee (waived when opened with an OCBC Business Growth Account, an SGD business account for day-to-day banking).1
*Fees checked in August 2026
→ Learn more about OCBC Bank alternatives
2. DBS Business Multi-Currency Account
DBS offers two business multi-currency account options for non-UK residents in Singapore at different stages of growth:
- The Business Multi-Currency Account (Starter Bundle) is designed for businesses operating for less than three years, with no monthly service charge and unlimited free FAST and GIRO transfers2
- The DBS Business Multi-Currency Account is for businesses operating for more than three years, offering up to 50 free FAST and GIRO transfers each month2
Both accounts support 13 major currencies (including GBP, USD, EUR, SGD and more), come with a DBS Business Advance+ debit card with no annual fee and zero FX charges, and are suitable for SMEs that regularly manage local and international business payments.2
Pricing: The Business Multi-Currency Account (Starter Bundle) has no monthly service charge, with an account fee of S$10 per month. The standard Business Multi-Currency Account has a monthly service charge of S$40 and an annual account fee of S$50.²
*Fees checked in August 2026
→ Learn more about DBS bank alternatives
3. UOB Corporate Global Currency Account
The UOB Corporate Global Currency Account enables Singaporean businesses to hold 9+ foreign currencies including GBP, USD, EUR, CAD and more.3 It supports day-to-day foreign currency transactions through UOB Infinity and the UOB SME app.3
For GBP accounts, the minimum initial deposit is GBP 650, while maintaining a GBP 5,000 average daily balance waives off the GBP 18 monthly fall-below fee.3 Also, S$50 (or equivalent) fee applies if the account is closed within six months of opening.3
Pricing: Foreign incorporated companies are charged an account setup fee starting from S$500.3
*Fees checked in August 2026
→ Learn more about UOB Bank alternatives
4. Maybank Foreign Currency Current Account
The Maybank Foreign Currency Current Account lets businesses open a single-currency current account for receiving, holding and sending 8+ currencies including GBP, EUR, USD, AUD and more.4 Businesses can make foreign currency telegraphic transfers, cash deposits and withdrawals, and transfer funds between SGD and other currency accounts through Business Internet Banking.4 One thing to note is that an early account closure fee of US$20 applies if you close the account within six months.4
Pricing: The account requires an initial deposit equivalent to US$1,000, with a US$5 equivalent monthly fall-below fee if the minimum balance is not maintained.4
*Fees checked in August 2026
5. CIMB Foreign Currency Current Account
The CIMB Foreign Currency Current Account allows businesses to spend in 7+ currencies including GBP, USD, AUD and more.5 As a foreign currency account, each account holds a single currency rather than multiple currencies together.5 Businesses can access the account through BizChannel@CIMB for online banking and payments.5 Also, there’s a GBP 20 early closure fee if the account is closed within six months.5
Pricing: The GBP account requires a minimum average balance of GBP 1,000, with a GBP 5 monthly fall-below fee.5
*Fees checked in August 2026
The World Account by WorldFirst
The World Account is a multi-currency account by WorldFirst, an international payments provider. The account supports 20+ currencies, including GBP, USD, EUR, SGD, CNH, AUD, JPY, HKD and NZD, enabling businesses to send, hold, receive and convert currencies from a single account.
For each supported currency, businesses get local receiving account details, allowing businesses to collect payments like a local. Businesses can send payments in 100+ currencies across 200+ countries and regions, receive payments from 130+ global marketplaces and payment gateways, and make no-cost, instant transfers between World Account holders. Singapore businesses can also set up forward contracts and integrate the account with Xero and NetSuite.
The World Account is also linked to a World Card, a Mastercard-powered virtual multi-currency card that supports payments in 150+ currencies. Businesses can issue up to 20 virtual cards at no additional cost, with no fees when paying in any of the 15 supported currencies if sufficient balances are held.
| Fee type |
World Account fees |
| Account opening |
Zero |
| Monthly fee |
Zero |
| Open local currency accounts |
Zero |
| Receive payments |
Zero |
| Hold multiple currencies |
Zero |
| Transfers to World Account users |
Zero |
| Local transfers |
US$1 |
| International transfers |
US$5 |
| Currency conversion |
Up to 0.6% |
| World Card |
Zero for up to 20 virtual cards |
*Fees checked in August 2026
→ Read more to know how to open SME business account
FAQs
Can non-UK residents open a UK business bank account?
Some banks allow non-UK residents to apply, but many require UK residency, a UK-registered company or additional identity verification. As a result, many Singapore businesses choose accounts that support GBP without opening a UK bank account.
Do Singapore banks offer business accounts that hold GBP?
Yes. Several Singapore banks offer multi-currency business accounts or foreign currency current accounts that allow businesses to hold GBP for international transactions. Explore the best business accounts in Singapore.
Does WorldFirst offer a business bank account?
No. WorldFirst is a cross-border payments provider, not a bank. It offers the World Account, a multi-currency account that supports 20+ currencies, including GBP.
Sources
- https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account
- https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account
- https://www.uob.com.sg/business/accounts/corporate-global-currency-account.page
- https://www.maybank2u.com.sg/en/business/local-enterprise/sme/manage-day-to-day/deposits/foreign-currency-current-account.page
- https://www.cimb.com.sg/en/business/solutions-products/cash-management/commercial-current-accounts/cimb-foreign-currency-current-account.html
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
