Best business bank accounts in Singapore [2026]
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Looking for the best business bank account in Singapore? Here’s a breakdown of the key features, fees and benefits of the top accounts to find the right fit
Key takeaways
- A business bank account helps manage all the business related transactions
- Key features to compare for global businesses include monthly fees, international transaction costs, multi-currency support and accounting integrations
- The right corporate bank account in Singapore depends on your business’s transaction volume, and daily cross-border activity
- Security features such as fraud monitoring, multi-factor authentication and real-time alerts are non-negotiable for any business account
- For businesses trading internationally, a multi-currency account like the World Account can help streamline cross-border payments and manage FX
Opening a business account is one of the first operational decisions a Singapore business makes and one of the more consequential. The right account can decide how quickly you get paid, how much you lose to FX on every conversion, and how easily your finance setup scales as you grow globally.
This guide compares the best business bank accounts in Singapore and looks at how they differ on fees and features.
What is a business bank account?
A business bank account is built to manage business-related transactions, such as receiving customer payments, paying suppliers, handling overhead and keeping personal and business finances separate. For registered companies in Singapore, a corporate bank account is required to operate.
But beyond the basics, business banking in Singapore spans a broader set of needs:
- Integration with accounting tools
- Support for multiple currencies
- Fast international transfers
- Quick digital onboarding
Types of business bank accounts
Here are the main types of business bank accounts in Singapore:
- Business transaction accounts: A business transaction account handles your day-to-day operations, such as collecting customer payments, paying suppliers and covering overheads. This is the standard starting point for most companies.
- Business savings accounts: A business savings account lets you set aside cash reserves and earn interest of surplus cash.
- Small business bank accounts: A small business bank account is designed for sole proprietors and smaller operations. Compared with full business banking products, these accounts typically come with lower fees, simpler requirements and faster online onboarding.
- Multi-currency accounts: A multi-currency account lets you hold, send and receive funds in different currencies without constant conversions. For Singapore SMEs trading with Asia, North America or Europe, a foreign currency account helps avoid double conversions on every inbound payment and manage FX exposure.
→ Read more on how to open a business bank account online in Singapore
How to compare business bank accounts in Singapore
Before choosing the best bank to open a business account with, compare options on the criteria that match how your business actually operates.
Ongoing and monthly fees
Check the account-keeping fees, fall-below fees, per-transaction fees, ATM charges and counter transaction fees
Speed of transactions
Look into whether the bank’s local and international payments arrive within your operating timelines. Cut-off times and settlement windows matter when you are paying suppliers on a deadline.
Ease of cross-border payments
If you source supplies from overseas or sell to international customers, the best business account would be the one that makes international transfers as simple as domestic ones, with predictable fees and clear settlement times.
Support for multiple currencies
If you regularly receive or pay in foreign currencies, the ability to hold balances in those currencies is a necessary feature that business accounts should have to help you avoid unnecessary conversions and FX costs
International transaction fees
Look into International transfer fees, FX markups and any per-transaction minimums.
→ For a broader view across banks and fintech platforms, see our guide to the best SME bank accounts.
Top business bank accounts in Singapore for global businesses
Here’s a closer look at four of the main business bank accounts available to Singapore SMEs.
1. DBS Business Multi-Currency Account
DBS offers a business multi-currency account that comes in two versions: a Starter Bundle for newer businesses and a standard version for companies over three years old.1
DBS supports 13 currencies in one account, including SGD, USD, EUR, GBP, JPY, HKD, AUD, CAD, CHF, CNH, NOK, NZD and SEK.¹
Account fees: The Starter Bundle costs S$10 per month. The standard version applies a S$50 annual fee plus a SGD 40 monthly service fee, which is waived when the average daily balance is SGD 10,000 or more.1
2. OCBC Business Growth Account + Multi-Currency Business Account
OCBC typically serves SMEs through a two-account setup: the Business Growth Account in SGD plus the multi-currency business account for holding and paying in major currencies.2,3 Together, this pairing covers SGD operations and 13 supported currencies (including USD, EUR, AUD, CNH, HKD, and more) in one bank relationship.
Account fees: The Business Growth Account costs S$10 per month, with the fee waived for the first two months and no minimum balance requirement in year one2
The multi-currency account has no setup fee and no minimum balance requirement.3 The SGD 10 monthly fee on the multi-currency account is typically waived when paired with the Business Growth Account, meaning most SMEs pay SGD 10 per month in total for both accounts.3
3. UOB eBusiness Account + Corporate Global Currency Account
UOB offers the eBusiness Account, a digital-led business account for Singapore SMEs.It includes rebates on FAST and GIRO transactions and free access to UOB Infinity and the UOB SME App.4
Account fees:The eBusiness Account charges S$35 per year and requires an average daily balance of S$ 5,000, with a S$15 monthly fall-below fee that is waived for the first 12 months.4
4. Maybank FlexiBiz Account
The Maybank FlexiBiz Account can be helpful for new businesses looking to avoid ongoing monthly costs, especially smaller operations and those starting out. There’s also a business debit card that is offered along with the account.5
Account fees: The account has no monthly fee, but does require an initial deposit of S$1,000 to open, and applies a S$10 monthly fall-below fee if the average daily balance dips below S$1,000.5
WorldFirst: The alternative to traditional business bank accounts in Singapore
If your business sells or pays across borders, a traditional Singapore bank account isn’t the only option for handling international payments. The World Account from WorldFirst is a multi-currency account designed for SMEs that trade internationally, particularly e-commerce sellers, importers and businesses paying overseas suppliers.
WorldFirst is a payments provider regulated by the Monetary Authority of Singapore as a Major Payment Institution. It’s not a bank account, but a regulated payment account that lets businesses hold, receive, send and convert funds in 20+ currencies.
It also offers the World Card, which is a Mastercard-powered business payment card with zero issuance and zero annual fees. When you spend from an existing currency balance in any of 15 supported currencies, there are no foreign exchange fees charged. The card also offers unlimited cashback on eligible spend. (Terms and Conditions Apply)
For businesses where cross-border activity is the rule rather than the exception, the World Account works alongside or in place of a conventional corporate bank account in Singapore.
Account fees: Zero fees for opening or maintaining the account. There are no minimum balance requirements either.
What you can do with the World Account
- Open local currency accounts in 20+ currencies, including SGD, USD, EUR, GBP, AUD, CAD, JPY, CNH, HKD, and more
- Make payments in 100+ currencies to 200+ countries and regions
- Receive payments from 130+ global marketplaces and payment gateways, including Amazon, Shopee, Lazada, Shopify and Etsy
- Pay 1688 suppliers directly through World Pay, the only authorised international payment provider for 1688.com
- Make instant, fee-free transfers between World Accounts
- Set up forward contracts to lock in FX rates and protect margin on future payments
- Integrate with Xero and NetSuite for streamlined reconciliation
- Issue up to 20 World Cards — multi-currency business payment cards, at no additional cost
Fees checked in May 2026.
Power your global growth with one account
Get local currency accounts, fast payments and competitive FX – all in one place.
Take your business global with the right account
The best business bank account in Singapore depends on your specific operation — whether you need a traditional bank relationship, multi-currency capability, marketplace collections or all of the above. Weigh fees, multi-currency support, accounting integrations and security features against how your business actually moves money.
For businesses operating across borders, the World Account is built around global businesses. It offers multi-currency accounts, local marketplace collections, ability to pay 1688 suppliers directly, and competitive FX rates.
Power your global growth with one account
Get local currency accounts, fast payments and competitive FX – all in one place.
FAQs
Can I open a business bank account online in Singapore?
Yes, many banks and payment providers in Singapore allow online applications for business accounts. Some banks may still require an in-branch visit for identity verification or wet-ink signatures, depending on the business structure.
What information is required to open a business bank account in Singapore?
Requirements vary by bank or provider, but you’ll typically need your UEN, ACRA business profile, identity documents for directors and beneficial owners, proof of business address and details on the nature of the business.
Which is the best business bank account for startups in Singapore?
The best business bank account for startups depends on your transaction volume, whether you plan to operate internationally, and how much you want to spend on monthly fees. Some banks offer starter aimed at newer businesses, while a multi-currency payment account like the World Account can suit startups trading globally from day one.
Sources:
- https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account
- https://www.ocbc.com/business-banking/smes/accounts/business-growth-account
- https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account
- https://www.uob.com.sg/business/accounts/uob-ebusiness-account.pag
- ehttps://www.maybank2u.com.sg/en/business/local-enterprise/sme/manage-day-to-day/deposits/flexibiz.page
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.
Joan Poon leads marketing across Southeast Asia at WorldFirst, driving growth and brand leadership in key markets including Singapore, Malaysia and the Philippines.
Joan Poon
Author
Head of Marketing SEA, WorldFirst Singapore
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