The best foreign currency accounts in Singapore [2026]
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Looking for the best foreign currency account in Singapore for fast and easy cross-border payments? Here are the leading options for businesses.
Key takeaways
- A foreign currency account lets your business hold, send and receive funds in multiple currencies
- When comparing foreign currency accounts in Singapore, look at the number of supported currencies, monthly fees, FX markup, transfer costs and the speed of cross-border payments
- Additional features to weigh include multi-currency cards, forward contracts, accounting integrations and marketplace collections.
- For global businesses, an international payment provider like WorldFirst can help manage international transactions with its competitive exchange rates and zero account opening fee
A foreign currency account lets your business hold and transact in more than one currency. For Singapore SMEs sourcing from China, selling on global marketplaces, paying overseas contractors or invoicing international customers, the right account can reduce FX leakage and simplify reconciliation.
Singapore has a competitive market for foreign currency accounts. This guide compares the 10 top foreign currency accounts, covering what each one offers, who it suits, and what it costs.
What is a foreign currency account?
A foreign currency account allows you to hold, manage and transact in multiple currencies from one account. So, instead of converting every inbound payment to SGD on arrival, you can hold balances in their original currency and convert only when you choose to. You can also use the received funds to make further payments.
For example, if your business receives USD from US clients and pays USD for SaaS subscriptions or US suppliers, a USD foreign currency account in Singapore lets you do both without requiring double conversion. You avoid back-and-forth FX losses, and you can convert larger amounts when rates work in your favour.
→ Read more on how to open a foreign currency account.
How to compare foreign currency accounts in Singapore
Before opening a foreign currency account, weigh these factors against how your business actually moves money.
- Supported currencies: Look for the currencies you actually transact in, not just the headline count. Support for major currencies like CNH, USD, EUR, GBP and major Asian currencies matter more than total currency count
- Monthly and account fees: Some accounts are free to open and maintain; others charge a monthly fee or apply fall-below fees on minimum balances
- FX markup: Some accounts may have no monthly fee but charge high markups. Make sure to check and compare FX markups as even a 0.5% difference compounds quickly across high transaction volumes.
- Transfer costs: Local transfer fees, international wire fees, SWIFT charges and any per-transaction minimums should be checked
- Speed of transfers: How long inbound and outbound payments take? Look into the main timelines shared by the payment provider or bank
- Multi-currency cards: A multi-currency business payment card lets your team spend from existing currency balances without converting on every transaction
- Forward contracts and FX tools: For businesses with predictable future FX needs, the ability to lock in rates can help potentially protect margins.
- Marketplace and accounting integrations: If you sell through Amazon, Shopify, Lazada or similar platforms, marketplace integrations can save reconciliation work. Xero and QuickBooks integrations also help finance teams.
→ For a wider look at traditional banking options, see our guide to the best business bank accounts in Singapore
Top foreign currency accounts in Singapore
1. WorldFirst
WorldFirst is an international payments provider built for Singapore SMEs that trade internationally, particularly e-commerce sellers, importers and businesses paying overseas suppliers. WorldFirst is regulated by the Monetary Authority of Singapore as a Major Payment Institution.
The World Account lets businesses open local currency accounts in 20+ currencies, including SGD, USD, EUR, GBP, AUD, CAD, JPY, CNH, HKD, MYR, THB and AED. Businesses can send payments in 100+ currencies to 200+ countries and regions, and collect payments from 130+ marketplaces and payment gateways such as Amazon, Shopee, Lazada, Etsy and Shopify.
Key features of the World Account
- Open local currency accounts in 20+ currencies with local bank details for each
- Collect payments at zero cost from 130+ marketplaces and payment gateways
- Pay 1688 suppliers directly via World Pay, which is the only authorised international payment provider for 1688.com
- Free and instant transfers between World Accounts
- Set up forward contracts to lock in FX rates for up to 24 months
- Integrate with Xero and NetSuite for streamlined reconciliation
- Issue up to 20 World Cards, which is multi-currency business payment cards, at no additional cost
- Unlimited 1.2% cashback on eligible spend with the World Card (Terms and Conditions Apply)
Account fee: Free to open and maintain
Best for: Singapore SMEs and e-commerce sellers that handle frequent cross-border payments, source from China, or collect from global marketplaces.
Power your global growth with one account
Get local currency accounts, fast payments and competitive FX – all in one place.
2. Wise Business
Wise Business offers a multi-currency account for a one-time fee of S$99.2 The account supports 20+ currencies including AUD, CAD, EUR, GBP, and USD.2 Wise also issues a Mastercard-powered business debit card which can be used to make direct payments through the Wise account balance.3
Account fee: No monthly fee for sending and receiving funds. But for setting up local currency accounts and issuing business debt cards, a one-time fee of S$99 is required.2,3
Fees checked in May 2026
3. Airwallex
Airwallex offers a multi-currency business account along with corporate cards, payment gateway, and yield functionality.4
The account supports holding funds in 20+ currencies and making payments in 60+ currencies, with local receiving accounts available in major markets including USD, GBP, EUR, AUD and HKD.4 The platform also issues Visa corporate cards with no foreign transaction fees when spending from the matching currency balance.4
Account fee: Three pricing tiers are available starting at zero
→ For a detailed look, check our Airwallex review
Fees checked in May 2026
4. DBS Business Multi-Currency Account
DBS offers a corporate multi-currency account for businesses that want a traditional Singapore bank account with built-in foreign currency holding.5
The account supports 13 currencies including USD, EUR, GBP, JPY, HKD, AUD, CAD, CHF, CNH, NOK, NZD and SEK – all managed through a single account.5 Businesses can also get the DBS Business Advance+ Debit Card at no additional cost.
Account fee: Starts at S$10 per month5
Fees checked in May 2026
5. OCBC Business Multi-Currency Business Account
OCBC’s business multi-currency account works alongside an OCBC SGD operating account to give businesses combined SGD and foreign currency capability through one bank relationship.6
The business bank account supports 13 currencies including USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, and more.6 Users can also get OCBC Business Debit Card linked to their multi-currency account
Account fee: S$10 per month6
Fees checked in May 2026
6. Revolut Business
Revolut Business is a digital multi-currency account for Singapore businesses.7 It offers local and international account details, multi-currency wallets and corporate cards.
Revolut’s multi-currency account supports holding, sending and receiving funds in 25+ currencies, including SGD, USD, GBP, EUR, AUD, CAD, JPY, HKD, CHF and AED.7 It offers physical and virtual debit cards with spending controls, and integrates with accounting tools such as Xero.7
Account fee: Four pricing tiers
- Basic (S$0 per month)
- Grow (from S$15 per month)
- Scale (from S$ 84 per month)
- Enterprise (from S$417 per month)8
Fees checked in May 2026
7. Aspire Business Account
Aspire is a Singapore-based fintech provider offering a digital business account with multi-currency wallets, corporate cards and expense management.
Aspire supports multi-currency accounts in SGD, USD, GBP and EUR, with the ability to send and receive in 30+ currencies across 130+ countries.9 The account includes virtual and physical corporate cards with unlimited 1% cashback on qualified spend.10
Account fee: Two pricing tiers are available10
- Basic at S$0 per month
- Premium at S$15 per month
Fees checked in May 2026
8. Maybank Foreign Currency Current Account
Maybank offers a foreign currency current account for Singapore businesses that need to hold and transact in major foreign currencies. The account supports over 8 currencies including USD, EUR, GBP, AUD, and NZD.11
To be able to open this account, businesses will first need to setup a MayBank FlexiBiz, PremierBiz or SGD current account.11
Account fee: Zero, but Maybank requires an initial deposit of US$1000 or its equivalent in other currencies.11
Fees checked in May 2026
9. CIMB Foreign Currency Current Account
CIMB’s foreign currency account supports seven currencies, including AUD, CAD, CNH, GBP, HKD, NZD and USD, which makes it relevant for businesses with trade flows into China and Hong Kong.12
FAST and GIRO are not supported, and cross-border payments are sent via telegraphic transfer with handling fees and agent bank charges on top.12
Account fee: No standard monthly fee, but minimum monthly average balance requirements and fall-below fees apply per currency12
Fees checked in May 2026
10. UOB Corporate Global Currency Account
UOB’s Corporate Global Currency Account supports 10 currencies including USD, EUR, GBP, AUD, NZD, JPY, CNH, HKD, CAD and CHF.13 There’s also an option to earn daily interest on account balances (applicable on select currencies only).13
Account fee: Not specified
Fees checked in May 2026
WorldFirst is built for Singapore businesses with big global plans
Foreign currency accounts in Singapore span a wide range of providers, from traditional banks to fintech providers. The right choice depends on transaction volume and the currencies you trade in most often.
The World Account is built around the cross-border use case from the ground up. With local receiving accounts in 20+ currencies, payments to 200+ countries and regions, marketplace collections, direct 1688 supplier payments and forward contracts to lock in FX rates, WorldFirst supports SMEs trading globally from day one.
Power your global growth with one account
Get local currency accounts, fast payments and competitive FX – all in one place.
Sources:
- https://wise.com/sg/business/
- https://wise.com/sg/pricing/business
- https://wise.com/sg/business/card
- https://www.airwallex.com/sg/pricing
- https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account
- https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account
- https://www.revolut.com/en-SG/business/multi-currency-accounts/
- https://www.revolut.com/en-SG/business/business-account-plans/
- https://aspireapp.com/business-account
- https://aspireapp.com/pricinghttps://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
- https://www.uob.com.sg/business/accounts/corporate-global-currency-account.page
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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