HSBC business account review [2026] Singapore: Features, fees and more

HSBC business accounts combine everyday banking with cross-border payment and foreign exchange services. Read this HSBC business account review for details on features and fees

Key takeaways

• HSBC business accounts combine domestic banking, international payments, FX tools and commercial cards, with fees varying by service
• HSBC Global Wallet supports holding funds in 10 currencies, sending payments to 240+ countries and territories, and receiving local payments in four currencies
• The World Account by WorldFirst offers local currency accounts in 20+ currencies, international transfers and virtual cards for business spending

HSBC Singapore caters to SMEs and larger companies with business banking services, international payment solutions and digital tools for cross-border operations.¹ But account holders incur costs such as a SGD 100 monthly account fee, a 3.25% currency conversion charge and a SGD 150 annual fee for SGD corporate cards.²

This guide goes into the depth of an HSBC business account review and everything you can do with it. It also explores a multi-currency account by WorldFirst that you can use alongside the HSBC business bank account.

What is an HSBC business account?

HSBC Singapore business account is a business bank offering from The Hongkong and Shanghai Banking Corporation Limited.^1,3  Regulated by the Monetary Authority of Singapore as a full bank, HSBC’s services include business banking, international payments, foreign exchange solutions, digital banking platforms, commercial cards and financing for companies operating across borders.^1,4,5

Pros and cons of HSBC business accounts

What does HSBC business banking include: features of HSBC business accounts

HSBC Global Wallet

HSBC Global Wallet is a digital multi-currency account for businesses conducting international transactions.⁶ Accessible through HSBCnet, it lets businesses hold funds in 10 currencies, including SGD, USD, GBP, EUR, AUD, CAD, CHF, CNY, HKD and JPY.⁶  Businesses can send payments to 240+ countries and territories, pay locally in 10 currencies and receive local payments in AUD, GBP, HKD and USD.⁶

HSBCnet GetRate

HSBC GetRate provides indicative foreign exchange rates, deposit rates and prime lending rates through HSBC Singapore.⁷ Businesses can use the information to understand prevailing rates when planning currency conversions.⁷

HSBC Evolve

HSBC Evolve is a digital platform designed for corporate and institutional clients undertaking international transactions and foreign exchange trading.⁸  It supports FX execution across 1,500+ currency pairs, with customisable trading screens and transaction tracking.⁸ Its reporting tools help businesses monitor trades, review post-trade information and streamline settlement instructions.⁸

HSBC Commercial Cards

HSBC Commercial Cards support business travel, entertainment, procurement and everyday expenses.⁹ Options include the HSBC World Corporate Mastercard, Corporate Card for Purchases, Central Travel Account, Virtual Card and USD Corporate Card.⁹

Features vary by card and may include expense reporting, spending controls, fraud protection and travel benefits.⁹  The USD Corporate Card supports eligible USD business-to-business payments without FX conversion costs.⁹

HSBC Omni Collect

HSBC Omni Collect is a digital payment collection platform supporting in-store, e-commerce, mobile commerce and invoice payments.¹⁰  Businesses can accept PayNow, cards and e-wallets through supported channels, with transaction reporting and API connectivity.¹⁰  PayNow QR can support instant payment notifications, while standardised reports help reconcile collections.¹⁰

HSBC business account fees

*Fees checked in October 2026

How to open an HSBC business account in Singapore

1. Check eligibility: Visit HSBC Singapore’s business banking website or contact its team to confirm account requirements for your business structure.
2. Prepare documents: Gather company registration details, identification and address documents for directors and beneficial owners, and information about your business activities.
3. Submit your application: Apply through the available channel and complete any additional verification checks or appointments requested by HSBC.

WorldFirst is built for businesses going global

WorldFirst is an international payments provider offering payment services through the World Account, a multi-currency account that enables businesses to collect, hold, send and convert funds in more than 20 currencies. Businesses can also link a World Card to the account for everyday business transactions. Powered by Mastercard, this virtual card supports business spending in over 150 currencies. Payments in 15 supported currencies incur zero fees when the account has enough funds in the currency being used.

World Account features for businesses

• Set up local currency accounts in more than 20 currencies, such as SGD, USD, GBP, EUR, AUD, NZD, CNH, HKD and JPY
• Send international transfers in 100+ currencies to recipients across more than 200 countries and regions
• Collect business revenue through over 130 e-commerce platforms and payment gateways, including Amazon, Lazada, Stripe and Shopify
• Send money to other World Account holders without incurring transfer fees
• Arrange forward contracts to secure exchange rates for future transactions
• Integrate the account with Xero and QuickBooks to simplify accounting and reconcile transactions
• Issue up to 20 multi-currency cards under one account without additional issuance costs
• Earn cashback on qualifying World Card purchases, subject to the applicable terms and conditions
• Settle supplier invoices through World Pay, the authorised international payment provider for 1688.com

*Fees checked in October 2026

FAQs

1. How much does an HSBC business account cost?

HSBC business account charges include SGD 100 monthly, SGD 10 per incoming transfer and 3.25% for currency conversion.²  Opening costs nothing, but minimum deposits apply.²

2. Does HSBC offer a multi-currency account?

Yes. HSBC Global Wallet allows eligible businesses to hold multiple currencies, send international payments and receive funds in supported currencies.⁶

3. How do I close an HSBC business account?

Contact HSBC Singapore to confirm the closure process, required documents and authorised signatory approvals. Settle outstanding balances and transactions, and check for applicable notice periods or closure fees.

Sources

1. https://www.business.hsbc.com.sg
2. https://www.business.hsbc.com.sg/-/media/media/singapore/pdfs/campaigns/hsbc-commercial-bank-tariff.pdf
3. https://www.business.hsbc.com.sg/en-sg/corporate-banking
4. https://www.business.hsbc.com.sg/en-sg/products/payments-and-fx-solutions
5. https://www.business.hsbc.com.sg/en-sg/products-and-solutions/global-payment-solutions
6. https://www.business.hsbc.com.sg/en-sg/campaigns/globalwallet
7. https://www.business.hsbc.com.sg/en-sg/solutions/exchange-rates-and-prime-lending-rates
8. https://www.business.hsbc.com/en-gb/products/evolve
9. https://www.business.hsbc.com.sg/en-sg/solutions/hsbc-commercial-cards-programme
10. https://www.business.hsbc.com.sg/en-sg/solutions/hsbc-omni-collect

The information contained is general only. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, accuracy is not guaranteed and the information may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the article and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from reliance on such information.