ANEXT bank business account review [2026]

A review of the ANEXT Bank business account for Singapore SMEs, covering features, fees, account structure and everyday usability.

Key takeaways

• ANEXT bank is a Singapore-based digital bank regulated by the Monetary Authority of Singapore (MAS)
• The ANEXT bank offers multi-currency accounts supporting 10 major currencies
• Businesses can make local transfers through FAST, PayNow, GIRO and MEPS, while overseas payments are supported through SWIFT and ANEXT Flash
• The World Account by WorldFirst is a multi-currency account alternative that supports 20+ major currencies and a virtual card for business payments

ANEXT Bank is a digital business bank in Singapore designed for SMEs and cross-border commerce. It offers multi-currency accounts and integrations with accounting platforms like Xero. ANEXT doesn’t currently issue a business debit or payment card.

This review breaks down the ANEXT bank business account features, fees and considerations for Singapore SMEs.

What is ANEXT Bank?

ANEXT bank is a digital bank that launched in 2022, focusing on banking services for SMEs in Singapore. The bank already supports digital banking needs of 20,000+ small businesses.

Its business account allows companies to hold multiple currency balances. It also supports unlimited free local transfers, incoming wire transfers, international payments at competitive exchange rates, and three-factor authentication (3FA) for secure transactions.

Quick look: Pros and considerations of ANEXT bank

Key features of the ANEXT business account

Digital account opening

The ANEXT business account is created and accessed entirely online through ANEXT’s app or online banking platform. Each eligible business can maintain one ANEXT business account, with zero account opening fees and no minimum balance requirement.

Local payments

The ANEXT business account supports several local payment methods for Singapore businesses. These include:

• FAST (Fast and Secure Transfers), which is Singapore’s real-time interbank payment network for instant bank transfers
• PayNow for instant transfers using a registered business identifier, such as a UEN
• GIRO (General Interbank Recurring Order) for scheduled bank transfers
• MEPS (MAS Electronic Payment System) for same-day high-value payments

Businesses can make unlimited local transfers and receive incoming SGD transfers without additional account maintenance charges, subject to applicable transaction limits. The combined daily transaction limit across local and overseas payments is S$1 million (or equivalent).

Multi-currency support

The ANEXT business account is a multi-currency business account that supports banking across 10 major currencies. Businesses can hold balances in SGD, USD, EUR and CNH within a single account. In addition, businesses can receive funds in six more currencies: GBP, HKD, JPY, KRW, MYR and THB, although payments received in these currencies are automatically converted into USD instead of being held as separate balances.

International transfers

ANEXT supports overseas payments through both SWIFT and ANEXT Flash (a cross-border payment service supporting USD and EUR transfers to selected destinations within one working day). SWIFT transfers can be sent in several currencies like SGD, USD, EUR, CNH, GBP, and more, typically taking one to five working days.

Digital banking security

Security on ANEXT is supported through its three-factor authentication (3FA), which combines password authentication, one-time passwords (OTP) and facial verification to protect account access and payment authorisations.

ANEXT Bank business account fees

*Fees checked in July 2026

Who can open an ANEXT business account?

The ANEXT business account is available to businesses incorporated in Singapore. To apply, the business must have an active Corppass account, while the authorised applicant must have a Singpass account and permission to retrieve Myinfo Business details through Corppass.

How to apply for an ANEXT business account

1. Register: Apply online for an ANEXT business account and provide your business details.
2. Verify: Upload required documents and complete identity verification for the authorised representative.
3. Activate: Submit the application for review and start using the account once approved.

WorldFirst is built for global businesses in Singapore

WorldFirst is a global payments provider that offers businesses a multi-currency account for collecting, holding, converting and sending international payments. The World Account is designed for businesses with multi-market operations, giving companies the flexibility to hold funds in the currencies they earn in and spend from them directly.

Hold and receive payments in 20+ currencies

The World Account is a multi-currency account that supports 20+ currencies including SGD, USD, EUR, GBP, AUD, NZD, CNH, HKD and JPY. With the local currency accounts, you can receive payments from international clients in the currency they were sent in and hold funds in each currency until you decide to convert, transfer or spend them

Send payments to 200+ countries and regions

Businesses can send international payments in 100+ currencies to 200+ countries and regions from the same account–at competitive rates. Free and instant transfers between other World Account holders are useful for businesses paying overseas partners, subsidiaries or freelancers who also use WorldFirst

Collect from 130+ online marketplaces and payment gateways

For businesses selling across borders, the World Account supports payouts from 130+ online marketplaces and payment gateways including Amazon, Etsy, Shopify, Lazada, Shopee, and Stripe. Marketplace payouts land in the matching currency balance without an intermediary bank in each country.

Foreign exchange tools for Singapore businesses

Eligible Singapore businesses can access foreign exchange tools including forward contracts, which let businesses lock in exchange rates for future transactions and manage currency exposure across a planning horizon.

Spend with the World Card

The World Card is a multi-currency virtual business card linked to the World Account. It lets businesses spend directly from their currency balances without moving funds to a domestic bank account first. You can spend in 150+ currencies wherever Mastercard is accepted. There are no fees when paying in one of the 15 supported currencies (with sufficient balance held in that currency). Cashback available on eligible business spending (Terms and Conditions Apply)

World Account fees

*Fees checked in July 2026

FAQs

Does ANEXT bank offer a business debit card?

No. ANEXT bank does not currently provide a business debit card or business payment card with its business account. Businesses requiring card-based spending may want to consider payment providers that offer virtual multi-currency business cards, such as the World Card by WorldFirst.

What is the minimum balance for an ANEXT business account?

There is no minimum balance requirement and no minimum opening deposit for the ANEXT business account.

Sources

1. https://anext.com.sg/bank/business-account/
2. https://www.anext.com.sg/bank/
3. https://anext.com.sg/static/terms/feeschedule
4. https://anext.com.sg/bank/faqs/set-up-and-submission?category=application
5. https://anext.com.sg/bank/faqs/overseas-transfers?category=sending-money&slug=6348
6. https://anext.com.sg/bank/faqs/currency-handling/?category=receiving-money
7. https://anext.com.sg/bank/faqs/overseas-transfers?category=sending-money&slug=6356
8. https://anext.com.sg/bank/faqs/account-security-and-fraud-protection?category=others&slug=6538
9. https://anext.com.sg/bank/faqs/eligibility-and-requirements?category=application&slug=6209

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.