Multi-currency account Singapore - 8 best options in 2025
Last update: 30 Oct 2025
You send an invoice overseas, wait weeks for the payment to clear, and when it finally lands, 5% has disappeared into bank fees and FX charges. Sound familiar? For many in Singapore, from solo freelancers to fast-scaling companies, this is the reality of global business.
Multi-currency accounts can turn things around, saving both time and costs, but only if you know which ones actually deliver.
In this guide, we’ll walk through the best options for a multi-currency account Singapore businesses can use to expand globally without getting tripped up by hidden costs.
What is a multi-currency account?
A multi-currency account allows you to hold, send, and receive funds in more than one currency under a single account.
Without a multi-currency account, payments get converted to your bank’s currency before you can send them out again in your supplier’s currency – meaning you pay currency exchange fees twice. With a multi-currency account, instead of maintaining separate bank accounts for USD, EUR and SGD (for example), you can get paid in customers’ local currencies and manage various currency balances in one place, switching between currencies as needed. This avoids repeated forex conversion fees and lets you keep more of your margin.
Such accounts come in different forms, from bank accounts with multi-currency capabilities offered by traditional banks, to business accounts from fintech providers.
Why choosing the right multi-currency account matters in Singapore
Sending and receiving money across borders isn’t just about avoiding high bank fees. For businesses in Singapore, the choice of multi-currency account can directly impact:
- Margins: A 1–2% difference in FX rates can erase profits on international orders
- Cash flow: Local collection accounts and fast settlement prevent up to a week of waiting per SWIFT transfer
- Credibility: Providing local account details helps overseas customers and suppliers feel confident they’re paying you securely, just as they would with a domestic partner
- Scalability: Integrations with marketplaces, accounting systems and bulk payment tools save time as you grow
When comparing providers, focus on these essentials:
- Currencies supported: Which currencies can you hold, receive, and pay? (Some accounts support dozens, others focus on major currencies only)
- Local account details: Do you get local bank details (like a routing number in the US, IBAN in Europe) for receiving payments?
- FX rates and fees: What percentage markup does the provider charge for currency conversions? Are transfers fee-free, or is there a per-transfer charge?
- Ongoing costs: Are there any monthly account fees or minimum balance requirements?
- Payment networks: Can the provider send and receive via local payment rails (ACH, SEPA, etc.) to avoid SWIFT fees and delays? Are outgoing payments delivered quickly?
- Integrations: Compatibility with marketplaces (Amazon, Etsy) and payment gateways, accounting software (e.g., Xero), and other tools that can streamline operations.
- Security and insurance: Are your funds protected by government deposit insurance or safeguarded under e-money rules?
The account you choose can make the difference between hidden FX costs and late payments, or smooth, predictable cross-border trade.
The eight best multi-currency account options in Singapore
To help you choose, we’ve compared the leading multi-currency accounts available in Singapore across key factors like supported currencies, local receiving details, FX fees, integrations, and security.
The table below gives you a side-by-side view of the most relevant options for 2025, so you can see which account best fits your business needs.
| Provider | Currency accounts | Local receiving details | FX fees | Account fees | Transfer fees | Notable features |
|---|---|---|---|---|---|---|
| WorldFirst | 20+ | Local details in 20+ currencies (USD, EUR, GBP, AUD, JPY and more) | Up to 0.6% markup | No setup/monthly fee | Free local SGD transfers,US$1 local transfers (non-SGD); from US$5 for SWIFT | Marketplace payouts, 1688.com integration, forward contracts, Xero integration, debit card with up to 1.2% cashback |
| Wise | 50+ | Local details in 9 currencies (SGD, USD, EUR, GBP, AUD, and more) | ~0.4% avg | One-time SG$99; no monthly fee | Fees vary by currency | Mastercard debit card, batch payments, Xero/QuickBooks integration, virtual cards |
| Airwallex | 20+ | Local details in USD, GBP, EUR, AUD, HKD and more | 0.3% major currencies, 0.6% others | Tiered pricing from SG$0 | Free local transfers; charges apply for international transfers | Payment gateway, 160+ methods, corporate cards (1% cashback), expense tools |
| DBS | SGD + 12 | Receives via SWIFT; SGD locally | ~0.5–1.5% | SG$10/month (startups); waived if >SG$10k avg | From SG$10 for transfers without FX; waived for transfers with FX | Debit card with 0% FX & 1% cashback, 50+ free FAST/GIRO transfers, Xero integration |
| HSBC Global Wallet | 11 | Local details in 6 markets (US, UK, HK, CN, AU, CA) | ~0.3–1.5% | Requires HSBC business account; ~SG$30k opening deposit; ~$50/month unless waived | Included in monthly account fee; SWIFT fees may apply | Flat-fee transfer bundles, HSBCnet FX tools, SDIC cover on SGD |
| OCBC | 13 | SWIFT for foreign; SGD locally | Bank FX rates | No setup/monthly fee; bundle with SGD account SG$10/month | Bank FX fees apply | Auto-enabled currencies, debit card with no FX fee, online opening |
| Standard Chartered | 14 | SWIFT for foreign | ~1% via LiveFX | Personal: free; Business: min. balances (e.g. US$10k) or fees | Free for certain currency pairs; otherwise fees apply | Debit card with 0% FX fee, LiveFX platform, interest options |
| UOB Global Currency | 10 | SWIFT only | Bank FX rates | Min. balances (e.g. US$8k) or fall-below fees (~US$28); setup fee for foreign firms | From 0.06% (caps apply) + agent charges if any | Interest on USD/AUD, UOB Infinity, trade finance support |
With these factors in mind, let’s examine the eight best multi-currency account options in Singapore for 2025, starting with our top recommendation.
Steps for opening a multi-currency account in Singapore
1. Choose provider (bank or digital)
2. Check eligibility requirements
3. Prepare documents (registration, IDs, proof)
4. Submit application
5. Verification (KYC/AML checks)
6. Fund and activate currency accounts (once approved, you’ll receive individual account numbers, IBANs, or routing details for each supported currency)
7. Start using account
1. WorldFirst multi-currency account
WorldFirst is built for Singapore SMEs that are ready to go beyond freelancer wallets but don’t want the cost and complexity of traditional banks. Founded in the UK and now part of Ant Group, WorldFirst combines digital speed with the stability of a global financial group.
Key features:
- Local receiving accounts: Offers local account details in over 20 currencies, such as USD, EUR, AUD, CNH, JPY and SGD, without setup or maintenance fees
- Marketplace and payments integration: Supports collecting payments from 130+ global marketplaces (e.g., Amazon, AliExpress), with fast withdrawals and multiple currency collections
- FX and risk management tools: FX markups capped at 0.6% on major currencies; advanced FX tools let you lock in exchange rates up to 24 months ahead and manage exposure to market volatility
- Bulk payments and card spending: Handles mass payouts (up to 200 recipients) and offers the option of a World Card for spending in 15 currencies with 0% FX fees and cashback.
- Payment integration with Chinese wholesale marketplaces: Source from 1688.com and TaoWorld, and pay suppliers directly in CNH from your World Account
Regulation and security:
Licensed by MAS under the Payment Services Act. That means client funds are safeguarded with top-rated global banks.
Best for:
Singapore SMEs and e-commerce sellers who want to grow beyond freelance tools like Wise, cut costs compared to banks and gain direct access to the China supplier ecosystem.
Pricing:
Free to open, no ongoing fees
Local transfers (non-SGD) from ~S$1.30 (US$1), SWIFT from ~S$6 (US$5)
FX conversion markup up to 0.6% (vs. 1–3% at most banks)
1688.com supplier payments: 0.8%
Why WorldFirst leads
Unlike Wise, which is geared toward freelancers, or Airwallex, which mainly targets startups and digital-first businesses, WorldFirst is designed specifically for SMEs. It combines MAS regulation, direct access to the China supplier ecosystem and advanced FX tools that are usually reserved for corporate enterprises, all in a platform that’s free to open and simple to use.
- Open 20+ local currency accounts and get paid like a local
- Pay suppliers, partners and staff worldwide in 100+ currencies
- Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
- Save with competitive exchange rates on currency conversions and transfers
- Lock in exchange rates for up to 24 months for cash flow certainty
2. Wise Business account
Wise Business offers a transparent multi-currency account with real mid-market FX rates and clear fees. Singapore businesses can hold multiple currencies, obtain local receiving details in major markets, and make payments via local rails where available.
Key features:
- Local receiving details in 9+ currencies: Includes SGD, USD (ACH), EUR (IBAN), GBP (sort code/account number), AUD, NZD, and more, so you can get paid like a local without international wire fees
- Hold and convert 50+ currencies: Manage balances in one account and send payments to 70+ countries using local rails like ACH, SEPA, and Faster Payments for faster, cheaper transfers
- Transparent FX pricing: Wise applies the real mid-market exchange rate with a small variable fee averaging about 0.4%, far lower than bank markups
- Business debit card: Spend directly from your balances worldwide with no foreign transaction fees, plus issue virtual cards for employees and online spending
- Built-in business tools: Batch payments, Xero integration, request-to-pay links and expense tracking to streamline workflows
Regulation and security:
Wise Asia-Pacific Pte. Ltd. is licensed by the Monetary Authority of Singapore as a Major Payment Institution under the Payment Services Act 2019.
Best for:
Freelancers, solo founders, and SMEs seeking low FX costs, local delivery in key markets, and a straightforward self-service platform.
Pricing:
- One-time fee of SG$99 to unlock full Wise Business features and local receiving details
- No monthly account fee
- Receiving domestic payments to your local currency account is free after the SG$99 activation; incoming USD via SWIFT has a flat fee
- Mid-market FX rate plus a small transparent fee that varies by currency pair
3. Airwallex business account
Airwallex provides multi-currency Global Accounts, fast international payouts, corporate cards and e-commerce integrations in one platform. It focuses on local collection details and low, published FX margins.
Key features:
- Local receiving accounts in 20+ currencies: Open Global Accounts with local bank details such as US routing numbers, EU IBANs, and UK account numbers
- Fast international transfers: Send money to 120+ countries via local payment networks for zero foreign transaction fees, or to 200+ countries using SWIFT. Over 90% of transfers arrive the same day
- Competitive FX pricing: Benefit from interbank rates with a low markup starting at 0.3% for major currencies and 0.6% for others, all shown before you confirm
- Merchant and payment gateway tools: Accept payments in multiple currencies, integrate with 160+ local methods and platforms like Shopify or WooCommerce, and settle directly into your account
- Multi-currency corporate cards: Issue physical and virtual Visa cards with no FX fees, 1% cashback, and built-in expense controls for teams and subscriptions
Regulation and security:
Airwallex (Singapore) Pte. Ltd. is licensed as a Major Payment Institution by MAS, and customer funds are safeguarded in designated trust accounts that are kept separate from operational funds.
Best for:
SMEs and online sellers that require one platform for receiving various currencies, managing FX, issuing cards and paying suppliers globally.
Pricing:
- No setup or monthly account fees on the Explore plan; from SG$79 for other plans
- FX: 0.4% above the interbank rate on major currencies, 0.6% on others
- Local transfers are free; SWIFT payouts typically range from SG$20 to SG$35
4. DBS business multi-currency account
For those who prefer traditional banks, DBS, Singapore’s largest bank, offers a business multi-currency account (BMCA) that has become quite competitive. DBS has leveraged its strong local banking platform and added multi-currency functionality.
Key features:
- Hold SGD plus 12 currencies: Manage balances in AUD, CAD, CHF, CNH, EUR, GBP, HKD, JPY, NOK, NZD, SEK, and USD, all under one account
- DBS Business Advance+ Card: Spend overseas directly from foreign currency balances with 0% FX fees and earn 1% cashback on eligible business expenses
- Full bank ecosystem: Access local payments (FAST, GIRO), international transfers, trade financing, loans and accounting software integrations with DBS IDEAL, supported by relationship managers and SDIC insurance on SGD balances
- Promotional and tiered fee structure: Starter Bundle offers low fees for young companies, while established SMEs can waive monthly charges by maintaining a minimum SG$10k balance
Regulation and security:
DBS operates under the Banking Act, regulated by MAS, and SGD deposits are protected by the Singapore Deposit Insurance Corporation (SDIC)
Best for:
SMEs that want bank stability, SDIC protection on SGD balances, and integrated services alongside multi-currency features.
Pricing:
- DBS publishes account and transaction fees in its pricing guides and product pages. Starter Bundle lists a SG$30 flat fee for outward telegraphic transfers, excluding agent bank fees
5. HSBC Global Wallet
HSBC, as one of the world’s largest banks, offers its Global Wallet multi-currency account in Singapore as part of its business banking.
HSBC Global Wallet adds multi-currency wallets to your HSBC business banking, enabling local-like collection and payouts in selected currencies with flat-fee packages.
Key Features:
- Hold and pay in 11 currencies: Manage SGD plus USD, EUR, GBP, HKD, CNH, AUD, CAD, NZD, JPY and CHF in one account, with local clearing for faster delivery
- Pay like a local in key markets: Make same-day or next-day payments in AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, MYR, and USD through HSBC’s global network
- Receive with local account details: Get local banking details in the US, UK, Hong Kong, China, Australia and Canada to receive funds in AUD, GBP, HKD, USD, CAD, and CNH without SWIFT fees
- Flat-fee pricing packages: Reduce cross-border costs with bundled flat fees and waived correspondent bank charges when sending via local rails
Regulation and security:
HSBC, and its Global Wallet service, always operates under the oversight of the Monetary Authority of Singapore (MAS) under the Banking Act.
Best for:
Mid-sized businesses that want a single global bank for multi-currency operations, with local rails in key markets and access to HSBCnet.
Pricing:
- HSBC advertises flat-fee packages for Global Wallet transactions. Specific fees depend on the account package and payment corridor
6. OCBC multi-currency business account
OCBC, another leading Singapore bank, has stepped up its game with a very SME-friendly multi-currency business account.
It provides multi-currency features with minimal fees and friction, making it an appealing choice for cost-conscious businesses that still prefer a bank.
Key features:
- Trade and hold 13 currencies: USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, CHF, SEK, DKK and NOK, covering most global business needs
- No initial deposit or monthly fees: Open the account without tying up capital, and enjoy zero setup fees or fall-below balance charges
- Auto-enabled currencies: Each foreign currency activates automatically upon first deposit, with no extra paperwork required
- Debit card integration: Link to an OCBC business debit card to spend directly from foreign currency balances with no extra FX fee
Regulation and security:
OCBC operates under MAS oversight and complies with e-Payments User Protection Guidelines, ensuring strong consumer protection for unauthorised or erroneous transactions.
Best for:
Startups and SMEs that want a low-cost bank account for occasional or regular FX activity without monthly account charges.
Pricing:
- No initial deposit, no setup fee and no minimum balance or fall-below fee for the multi-currency account
- If bundled with an SGD account, OCBC outlines separate terms and any monthly fees for the SGD account
7. Standard Chartered multi-currency accounts
Standard Chartered (SCB) offers multi-currency functionality in Singapore through a couple of avenues. SCB’s SME accounts still require separate setups for each currency, but the new multi-currency features point to more streamlined options for business users.
Key features:
- Transact in up to 14 currencies: Access SGD plus USD, EUR, GBP, AUD, NZD, JPY, CNH, HKD, CAD, CHF, SEK, NOK and DKK, convert through LiveFX in the app, and spend directly from balances with zero overseas transaction fees
- Linked SC debit card: Use your Standard Chartered debit card overseas to draw directly from foreign currency balances without extra conversion charges
- Competitive FX via LiveFX: View live exchange rates, set alerts for target rates and convert with a markup often within 1% of the mid-market rate
- No overseas transaction fees: Spend or withdraw abroad in the local currency you already hold, avoiding up to 3% in fees that most banks charge
Regulation and security:
Standard Chartered Bank (Singapore) is regulated under the MAS Banking Act. It’s also designated as a Significantly Rooted Foreign Bank, meaning it meets additional criteria for stability and oversight.
Best for:
Sole proprietors and individuals who want to hold and spend foreign currencies from a single account. For incorporated SMEs, SC offers separate business foreign currency accounts.
Pricing:
- SC promotes SG$0 overseas transaction fees on the multi-currency feature. Note that its pricing guide lists a 1% charge on foreign transactions converted via dynamic currency conversion (DCC), so avoiding DCC is important.
8. UOB Corporate Global currency account
UOB’s Corporate Global currency account is a multi-currency current account aimed at companies that regularly transact in foreign currencies and can maintain healthy balances.
As a local bank, UOB, like DBS/OCBC, brings trust and typical banking services, albeit with more traditional requirements.
Key features:
- Supports 10 major currencies: USD, EUR, GBP, AUD, NZD, JPY, CNH, HKD, CAD and CHF, all managed within one account to simplify cross-border business
- Interest on selected balances: Earn modest interest on certain currencies such as USD and AUD, with rates typically between 0.05% and 0.15% for higher balances
- High-balance structure: Each currency ledger has its own minimum average balance requirement, with fall-below fees if thresholds are not met (e.g., US$8,000 minimum for USD, £5,000 for GBP)
- Integrated with UOB Infinity: Manage accounts digitally, transfer between currencies, make international payments and access SME banking features through UOB’s online platform
Regulation and security:
UOB operates under MAS regulation. SGD deposits are covered up to S$100,000 under SDIC; robust AML/CFT and sanctions frameworks are also in place to safeguard funds and maintain regulatory compliance.
Best for:
Established SMEs that regularly hold significant foreign balances and want a bank relationship for trade services and treasury support.
Pricing:
- Minimum average balance requirements and fall-below fees vary by currency. For example, US$1,000 initial deposit with US$8,000 minimum average balance and a US$28 fall-below fee. Other currencies have their own thresholds and fees
Why businesses in Singapore choose WorldFirst for their multi-currency accounts
Multi-currency accounts let Singapore businesses hold, receive and pay in the currencies they trade in, but the right account will depend on what’s important to you – whether that’s fees, speed, local account access or integration with your business tools.
Traditional banks offer stability and deposit protection, while fintechs lead with sharper FX pricing and faster onboarding. WorldFirst combines the best of both: trusted by MAS, backed by Ant Group, and purpose-built for SMEs and e-commerce sellers.
Here’s why WorldFirst leads the pack:
- Proven track record: Trusted since 2004, with billions moved securely for SMEs worldwide
- Global backing: As part of Ant Group, businesses can have confidence in its stability and scale
- Business-first design: Tailored for SMEs and e-commerce sellers, not retrofitted from retail banking
- Growth-ready tools: From advanced FX strategies to global expense management, it scales with your ambitions
- Fast, digital onboarding: Get started in days instead of waiting weeks for traditional bank approvals
For Singapore SMEs trading globally, WorldFirst is the simplest way to collect like a local, pay suppliers without delays and protect your margins.
Open an account for free with WorldFirst today – the multi-currency account Singapore businesses trust to go global.
Sources:
- https://wise.com/sg/pricing/business
- https://www.airwallex.com/sg/pricing
- https://www.dbs.com.sg/personal/support/bank-overseas-funds-transfer-fees-and-charges.html
- https://www.business.hsbc.com.sg/en-sg/campaigns/globalwallet
- hhttps://www.ocbc.com/business-banking/help-and-support/accounts-and-services/business-pricing-guide
- https://av.sc.com/sg/content/docs/sg-business-banking-pricing-guide.pdf
- https://www.uob.com.sg/business/help-support/rates-fees/index.page
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