Looking for a digital business bank account in Singapore? This guide compares ANEXT, GXS, Maribank, and Green Link on features, fees, and how each fits different business needs.
Key takeaways
- A digital business bank account is a business banking account provided by a licensed digital bank that operates primarily through online and mobile channels
- Singapore’s four licensed digital business banks include ANEXT Bank, GXS Bank, MariBank, and Green Link Digital Bank
- Anext Bank offers multi-currency accounts, allowing businesses to hold, receive and send funds in selected foreign currencies
- GXS Biz Account focuses on SGD banking for sole proprietorships, with no-cost FAST and PayNow payments
- Maribank combines business banking, international payments and financing within a single platform for SMEs
- Green Link Digital Bank offers digital business current and multi-currency accounts for SMEs and corporates
- WorldFirst’s World Account is a multi-currency account that allows businesses to hold 15+ currencies and send payments in 100+ currencies globally
Singapore’s digital banking framework was introduced in 2019 by the Monetary Authority of Singapore (MAS), and now several digital banks offer business banking services, including Anext Bank, GXS Bank, Maribank and Green Link Digital Bank.
This guide compares the leading digital business bank accounts in Singapore on features and fees. We also take a look at how WorldFirst can work alongside your domestic SGD bank accounts and help you protect profit margins
What is a digital bank?
A digital bank is a licensed bank that operates primarily through digital channels. Customers can open accounts, manage transactions, make payments and access banking services completely online.
In Singapore, digital banks operate under the MAS digital banking framework. It includes two licence types:
- Digital Full Bank (DFB): Can serve both retail and non-retail customers and offer a broad range of banking products and services
- Digital Wholesale Bank (DWB): Restricted to serving SMEs and other non-retail customer segments
Top digital business bank accounts in Singapore
1. ANEXT business account
The ANEXT business account is a digital multi-currency business account that can hold, receive, convert, and send funds internationally.1 Businesses can hold balances in 4 currencies: SGD, USD, EUR, and CNH.1
Funds can also be received in 6 additional currencies: GBP, HKD, JPY, KRW, MYR, and THB.1 But funds in these currencies are automatically converted into USD rather than being held separately.1
The account supports local transfers through FAST, PayNow, GIRO, and MEPS, alongside international payments via SWIFT.1 ANEXT also offers ANEXT Flash, a cross-border payment service that enables USD and EUR transfers to selected markets within one working day.1
Business can make unlimited local transfers and receive incoming wire transfers without account maintenance charges.1 International money transfers are charged at flat fees that vary by currency and payment option selected, starting at US$10.2
Each business can maintain only one account with ANEXT, and it comes with a combined daily transaction limit across local and international payment channels, equalling SGD 1 million (or equivalent).1,2
Fee table
| Fee type | Anext Business Account |
| Account opening fee | Zero1 |
| Monthly account fee | Zero1 |
| Minimum initial deposit | Not specified |
| Minimum balance requirement | Zero1 |
| Card | Not supported |
*Fees checked in June 2026
2. GXS Biz Account
The GXS Biz Account is a digital business account designed for sole proprietorship business owners, enabling them to receive unlimited payments through PayNow and make payments at no cost via FAST and PayNow.3 Outgoing GIRO payments are not supported.4 All incoming and outgoing transactions can be monitored in real time through the GXS mobile app.3
Deposits held in the account are protected under the Singapore Deposit Insurance Scheme, with eligible Singapore Dollar deposits insured up to SGD 100,000 per depositor.5
GXS also offers the GXS FlexiCard, a separate credit card with a SGD 500 credit limit for everyday spending.6 Foreign currency transactions are automatically converted into Singapore Dollars using Mastercard’s prevailing exchange rates.7
Fee table
| Fee type | GXS Business Account |
| Account opening fee | Zero3 |
| Monthly account fee | Zero3 |
| Minimum initial deposit | Zero8 |
| Minimum balance requirement | Zero3 |
| Card | Supported, at SGD 54.50 per card6 |
*Fees checked in June 2026
3. Maribank business account
The Mari Business Account is a digital business banking account for Singapore-based SMEs that combines domestic banking, cross-border payments, and interest earnings within a single mobile app.9
For day-to-day banking, businesses can make no-cost local transfers through PayNow and bank transfers.9 The account also supports incoming GIRO payments, although outgoing GIRO transfers are not currently available.10
For international banking, the Mari Business Account also offers:
- Transfers to more than 40 destinations in 20+ currencies, including USD, EUR, GBP, AUD, CAD, and CNY11
- Multiple payment methods, including local payment networks, wire transfers, ACH, and destination-specific rails such as UPI, PromptPay, and FPS11
- Incoming overseas transfers in SGD via SWIFT and MEPS only. The account cannot currently receive incoming international payments in USD or other foreign currencies12
- Payments to China via wire transfer for Mari Business Account holders. Alipay and Weixin (WeChat) Pay transfers are available only to Mari Savings Account customers13
MariBank also offers the Mari Debit Card and Mari Credit Card.14,15 Both cards come with Mastercard’s currency conversion charge of 1% may still apply to transactions processed overseas.14,15,17
Businesses seeking access to financing can also apply for Mari Business Loans. Certain loan products may incur an early repayment fee of SGD 100 or 3% of the outstanding principal balance, whichever is higher.16
Fee table
| Fee type | MariBank Business Account |
| Account opening fee | Zero9 |
| Monthly account fee | Zero9 |
| Minimum initial deposit | Not specified |
| Minimum balance requirement | Zero9 |
| Card | Supported, at no cost17,18 |
*Fees checked in June 2026
4. Green Link Digital Bank
Green Link Digital Bank (GLDB) offers digital business banking for SMEs and corporate customers through two account types: the GLDB Current Account and the GLDB Multi-Currency Account.19
- The current account is designed for everyday business banking, enabling companies to make and receive payments, monitor balances, and track transactions through GLDB’s digital platform. Businesses may also earn credit interest on balances, although the applicable rate is not publicly disclosed19
- For international operations, the GLDB Multi-Currency Account allows businesses to hold, manage, send, and receive funds in multiple currencies within a single account. GLDB does not state the number or types of currencies supported19
Businesses can send, hold and receive international payments directly from their accounts, either in the same currency or through foreign exchange conversion.19 GLDB also supports MEPS transfers, enabling high-value SGD payments with same-day settlement.19 Overseas transfers incur a fee of 1/12% of the transfer value.20 An early account closure fee of SGD 50 applies within the first 6 months.20
Fee table
| Fee type | GLDB Business Account |
| Account opening fee | SGD 1,00020 |
| Monthly account fee | Zero21 |
| Minimum initial deposit | Not specified |
| Minimum balance requirement | Zero19 |
| Card | Not supported |
*Fees checked in June 2026
WorldFirst is built for digital, global businesses
The World Account by WorldFirst is a multi-currency account. Businesses that receive international payments, pay overseas suppliers, invoice global customers or sell through international marketplaces often use a multi-currency account alongside their primary business bank account to carry out foreign currency transactions.
The World Account supports holding funds in 15+ currencies, including SGD, USD, GBP, EUR and CNH. Each supported currency includes local receiving details that can be connected to e-commerce platforms and payment gateways. Businesses can also send payments in over 100 currencies.
Rather than replacing an SGD business bank account, the World Account is designed to sit alongside it. Businesses can use their bank account for domestic banking activities while using a multi-currency account to collect, hold, convert and send foreign currencies.
World Account holders can also get up to 20 World Cards, which are Mastercard-powered virtual debit cards linked to the World Account that, at no extra cost. You can make payments in over 150+ currencies using the World Card. There are no charges for the World Card and you pay no fees when paying in any of the 15 supported currencies, with sufficient balance held in that currency.
Here are the key features of the World Account
- Local currency accounts in 20+ currencies including SGD, USD, GBP, EUR and CNH
- Send payments in 100+ currencies across 200+ countries and regions
- Collect from 130+ international marketplaces and payment gateways
- Free and instant transfers between World Account holders
- Up to 20 virtual World Cards at no additional cost; zero FX fees in 15 supported currencies when sufficient balance is held
- Multi-user access and ERP integration with Xero and NetSuite
Main fees of the World Account
| Fee type | World Account |
| Account opening fee | Zero |
| Monthly account fee | Zero |
| Opening local currency accounts | Zero |
| Receiving payments | Zero |
| Holding funds in multiple currencies | Zero |
| Sending payments to other World Account holders | Zero |
| Sending payments to other accounts | US$1 for local transfers, US$5 for international transfers |
| Currency conversion | Up to 0.6% |
| World Card issuance | Zero for up to 20 cards |
| Payments to 1688.com suppliers via World Pay | Up to 0.8% currency conversion fee |
*Fees checked in June 2026
How to choose a digital business bank account in Singapore
The most suitable account depends on the type of business, the transactions it processes and whether it operates primarily within Singapore or across multiple markets. Businesses can evaluate both current requirements and future operational needs before applying.
Consider the following factors when comparing providers:
- Licence type and business eligibility: DFB-licensed banks can serve a broader customer base, while DWB-licensed banks focus on SMEs and other non-retail segments. Confirm that your business structure meets the provider’s eligibility requirements
- Currency support: Most digital business bank accounts in Singapore are designed primarily for SGD banking. Businesses with frequent foreign-currency transactions may require a separate multi-currency account
- Account opening process: To open a business bank account in Singapore, your company must be registered and active with the Accounting and Corporate Regulatory Authority (ACRA). Depending on the bank, business structure, and verification requirements, the application process can usually be completed online and takes between 1-4 weeks
- Banking features: Compare support for FAST, GIRO, PayNow, accounting integrations, mobile banking tools and multi-user access controls
- Card availability and controls: Check whether a business card is offered, if it’s prepaid or not and whether spending limits and permissions can be configured
- Fees and balance requirements: Review account fees, transfer charges, fall-below fees, conversion fees and minimum balance requirements for the business accounts
FAQs
What is a digital business bank account in Singapore?
A digital business bank account is a business banking account provided by a licensed digital bank that operates primarily through online and mobile channels instead of physical branches.
How many digital banks are there in Singapore?
MAS awarded 4 digital banking licences in 2020. These licences were issued to Anext Bank, GXS Bank, Maribank and Green Link Digital Bank.
Can my business open multiple digital bank accounts?
Yes. Businesses can generally maintain accounts with multiple banks, subject to each provider’s eligibility requirements and account terms.
Are digital business bank accounts safe?
Digital banks in Singapore operate under licences issued by MAS and are subject to regulatory requirements applicable to their licence category.
What if my business needs multi-currency capability beyond SGD?
Many digital business bank accounts focus primarily on SGD banking. Businesses that regularly receive, hold or send foreign currencies may choose to use a separate multi-currency account alongside their primary business bank account.
Sources
- anext.com.sg/bank/business-account/
- https://anext.com.sg/bank/faqs/overseas-transfers?category=sending-money&slug=6348
- business.gxs.com.sg/biz-account
- https://help.gxs.com.sg/Payments/Send_Money/Can_I_send_funds_from_my_GXS_Savings_Account_via_GIRO%3F
- https://help.gxs.com.sg/GXS_Savings_Account/Fund_Account/Are_my_deposits_with_GXS_protected_or_insured%3F
- https://www.gxs.com.sg/flexicard
- https://help.gxs.com.sg/GXS_FlexiCard/GXS_FlexiCard_Fees_and_Charges/How_are_exchange_rates_determined_for_transactions_in_foreign_currencies_on_my_GXS_FlexiCard%3F
- https://help.gxs.com.sg/GXS_Biz_Account/Open_a_GXS_Biz_Account/Do_I_need_to_make_a_minimum_deposit_to_open_a_GXS_Biz_Account%3F
- maribank.sg/product/mari-business-account
- https://www.maribank.sg/help-centre/article/10007-does-maribank-support-incoming-and-outgoing-giro-transfers
- https://www.maribank.sg/help-centre/article/10424-what-are-the-supported-currencies-and-destinations-for-maribank-overseas-transfers
- https://www.maribank.sg/help-centre/article/10441-does-maribank-support-incoming-overseas-transfers
- https://www.maribank.sg/help-centre/article/10430-how-to-send-money-to-mainland-china
- https://www.maribank.sg/product/mari-credit-card
- https://www.maribank.sg/product/mari-debit-card
- https://www.maribank.sg/help-centre/article/10412-how-to-make-early-repayment-to-my-instant-loan
- https://www.maribank.sg/fees-rates/mari-credit-card
- https://www.maribank.sg/fees-rates/mari-debit-card
- glbank.com/solutions/cash
- https://www.glbank.com/support#downloads-fees-rates
- https://www.glbank.com/api/media/GLDB-Fees-Charges.pdf?path=%2Fwp-content%2Fuploads%2F2026%2F04%2FGLDB-Fees-Charges.pdf&inline=1
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.
