ANEXT Bank review 2026: Fees, loans & features (Singapore)

Key takeaways:

• ANEXT Bank is a Singapore digital wholesale bank backed by Ant International, offering multi-currency business accounts with no monthly fees, no account opening fees, and no minimum balance.

• You can earn up to 0.8% p.a.¹ on SGD, USD, and EUR balances, and borrow up to S$500,000² through ANEXT's lending products, including a no-document credit line for existing customers.

• Airwallex offers free transfers to 120+ countries via local rails, multi-currency accounts in 20+ currencies, Corporate Cards, Expense Management, and integrations with tools like Xero and Shopify.

ANEXT Bank is a digital wholesale bank in Singapore built for small and medium businesses that want fast, low-cost banking.

If you're comparing digital banks or looking for an alternative to a traditional Singapore business account, ANEXT is worth a close look.

In this guide, you'll find a breakdown of ANEXT's account fees, currency support, interest rates, and lending options.

What is ANEXT Bank?

ANEXT Bank is a digital wholesale bank licensed by the Monetary Authority of Singapore (MAS) and a wholly owned subsidiary of Ant International, the fintech arm of Alibaba Group.

Unlike traditional banks, ANEXT operates without physical branches and serves businesses exclusively through a fully digital platform. As a wholesale bank, it does not offer retail banking services to individuals.

Instead, it focuses on helping small and medium-sized enterprises (SMEs) with business accounts, cross-border payments, and working capital financing.

ANEXT was built to address a common challenge for SMEs: opening a business bank account or applying for financing with a traditional bank can involve lengthy paperwork, in-person visits, and strict eligibility requirements.

Its account opening process is fully online, while its lending products are designed to assess business cash flow rather than relying solely on collateral.

Information in this section is based on ANEXT Bank’s official website as of 14 July 2026.

How does ANEXT Bank work?

ANEXT Bank operates entirely online. You apply for a business account through ANEXT's website, and the system pre-fills your business details using CorpPass and MyInfo Business.

Once your identity is verified through Singpass, you manage everything digitally through the web platform or mobile app. There are no branches to visit and no paper forms to fill out at any stage.

This fully digital model is what allows ANEXT to skip the fees traditional banks charge to cover branch and staffing costs. It also means approval can happen faster, since there's no manual paperwork to process.

Looking for a business account? Like ANEXT, Airwallex has no monthly fee (on the Explore plan) and a fully digital onboarding. On top of that, Airwallex gives you free transfers to 120+ countries and competitive FX rates that save you up to 80% on FX fees. Learn more here.

ANEXT Bank account features

ANEXT Bank's core product is a multi-currency business account with no monthly costs. Here's a quick overview:

This information is based on publicly available information accessed on 14 July 2026. Information reflects Airwallex's own research and has not been independently verified.

Hold and receive multiple currencies

ANEXT lets you send and receive money in 10 currencies through SWIFT, but you can only hold a balance in four of them¹:

• Singapore dollar (SGD)

• US dollar (USD)

• Offshore Chinese yuan (CNH)

• Euro (EUR)

If you deal in other currencies, ANEXT can still send and receive them through SWIFT — covered below.

Earn interest on eligible balances

ANEXT pays up to 0.8% p.a. daily interest on eligible SGD, USD, and EUR balances¹. Unlike a fixed deposit, you don't need to lock your funds away to earn interest, so your business can continue using the money for day-to-day operations.

Unlimited free local transfers

Local transfers through FAST, PayNow, GIRO, and MEPS cost nothing. That can meaningfully cut payment costs if you're running payroll or paying Singapore-based vendors regularly.

FAST and PayNow support real-time transfers of up to S$200,000 per transaction. For larger local payments, ANEXT supports MEPS, while GIRO is available for non-urgent transfers of any amount.⁴

Incoming wire transfers are also free on ANEXT's side, though intermediary or remitter banks may still deduct their own fees before the funds reach you.

International payments via SWIFT

ANEXT supports international transfers in 10 currencies through the SWIFT network: SGD, USD, CNH, EUR, GBP, HKD, JPY, KRW, MYR, and THB.¹

This gives businesses a way to send and receive payments with overseas customers and suppliers across a broad range of markets.

ANEXT Flash for selected corridors

For certain payment corridors, ANEXT also offers ANEXT Flash, which provides faster international transfers than standard SWIFT payments.

Businesses can currently send USD and EUR to selected destinations, including the United States, Hong Kong, and Europe, with funds typically arriving within one working day, subject to daily cut-off times.

No setup fees or minimum balance

There's no setup fee, annual fee, fall-below fee, or minimum balance requirement. This makes ANEXT a low-cost starting point if your business has tight cash flow or you're newly incorporated.

Business loans from ANEXT Bank

ANEXT offers four lending products, with a total lending capacity of up to S$500,000² per business. Here's a quick overview:

This information is based on publicly available information accessed on 14 July 2026. Information reflects Airwallex's own research and has not been independently verified.

1. CreditNow

CreditNow is a no-document credit line of up to S$300,000, repayable over up to 12 months. It's only available to existing ANEXT customers who've held an active account with ANEXT for at least six months.²

Because it skips document collection entirely, it's the fastest lending option ANEXT offers, but only once you've built a track record with the bank.

2. Pay-Per-Use

Pay-Per-Use is a revolving credit line ranging from S$5,000 to S$500,000², with a repayment period of up to six months. You draw down funds as needed and only pay interest on what you use, which suits businesses with irregular or seasonal cash flow needs.

3. Pay Monthly

Pay Monthly is a term loan ranging from S$5,000 to S$500,000², repayable over up to five years. This works better for planned, larger investments where you want predictable monthly repayments rather than a revolving facility.

4. Secured Business Loan

If you need a larger loan amount than the unsecured products offer, ANEXT's Secured Business Loan lets you pledge business assets as collateral. Loan amounts and rates depend on the value of the assets you pledge.

Fixed deposits with ANEXT bank

If your business has surplus cash that you don't need immediate access to, ANEXT also offers fixed deposits in SGD, USD and EUR with tenures of 1, 3, 6, 9, or 12 months.³

The minimum placement amounts are as follows:

• S$250,000 for SGD

• US$5,000 for USD

• EUR 5,000 for EUR

Businesses can also maintain multiple fixed deposit placements under a single ANEXT Fixed Deposit Account.

At maturity, you can choose to renew the principal, renew both the principal and interest, or have the funds credited back to your ANEXT Business Account.

If you need to withdraw your deposit before maturity, ANEXT doesn't charge an early withdrawal fee. Instead, the deposit earns interest at the prevailing ANEXT Business Account rate rather than the fixed deposit rate.

Information in this section is based on ANEXT Bank’s official website as of 14 July 2026.

Who can open an ANEXT Business Account?

Any Singapore-incorporated business can apply for an ANEXT Business Account. Before you apply, check your entity's eligibility directly on the official CorpPass website, since CorpPass registration is required to start the application.

You'll also need an authorised applicant who can confirm their identity: ANEXT sends a secure link by email and SMS for this step. Appointed company representatives must then authorise the account opening before it goes through.

How to open an account at ANEXT bank

Here are the steps to open an ANEXT Business Account:

Step 1: Start your application

Start your application through CorpPass and MyInfo Business. Your business details are pre-filled automatically, so you don't need to re-enter company information manually.

Step 2: Verify your identity

Confirm your identity through the secure link ANEXT sends by email and SMS.

Step 3: Authorise the application

Appointed company representatives authorise the account opening to complete the process.

ANEXT Bank's fees

ANEXT keeps domestic banking simple: no setup fee, no monthly fee, and free unlimited local SGD transfers. International transfers route via SWIFT at a flat outward fee, though intermediary or remitter banks may deduct their own charges along the way.

Here's a summary of ANEXT Bank's core fees:

This information is based on publicly available information accessed on 14 July 2026. Information reflects Airwallex's own research and has not been independently verified.

One detail worth knowing: Each business can only open one ANEXT Business Account, so you can't maintain multiple ANEXT accounts under the same legal entity.

ANEXT doesn't publish a standard FX markup as a flat percentage. Instead, the applicable exchange rate and any markup are shown before you confirm each transaction.

Because there's no published FX rate card, you'll need to review the quoted rate before completing each currency conversion or international transfer.

Why Singapore businesses choose Airwallex

ANEXT is a good option if your business needs a straightforward digital business account with local banking services and occasional international transfers.

If your business operates across multiple markets, accepts payments from overseas customers, or needs more structured spend management, Airwallex offers a broader set of capabilities. Here's what you get with Airwallex:

• More flexibility for multi-currency businesses. Airwallex lets you hold and receive funds in 20+ currencies through Global Accounts, compared with four currencies on ANEXT.

• Built-in spend management. Airwallex combines Corporate Cards, Expense Management, Bill Pay, and Purchase Orders in one platform. ANEXT doesn't currently offer these spend management tools.

• Accept customer payments globally. Airwallex includes a payment gateway that supports 160+ local payment methods across 180+ countries and regions. ANEXT doesn't currently offer an online payment gateway for merchants.

Information in this section is based on ANEXT Bank’s official website as of 14 July 2026.

Frequently asked questions (FAQs)

Is ANEXT Bank a licensed bank in Singapore?

Yes. ANEXT Bank is licensed as a digital wholesale bank by the Monetary Authority of Singapore (MAS). It uses a proprietary three-factor authentication system to secure transactions, alongside standard encryption protocols.

Who owns ANEXT Bank?

ANEXT Bank is a wholly-owned subsidiary of Ant International, the fintech arm of Alibaba Group. It operates independently as a MAS-licensed digital wholesale bank focused on serving small and medium businesses in Singapore.

Does ANEXT Bank charge fees for international transfers?

Local transfers within Singapore are free, but international transfers via SWIFT cost a flat S$15⁴. ANEXT Flash offers a faster, flat-fee alternative for USD and EUR payments to the United States, Hong Kong, and Europe.

What's the difference Between ANEXT Bank and Airwallex?

ANEXT is a bank account with strong interest rates and low fees, while Airwallex is a broader financial platform with multi-currency accounts, corporate cards, and payment collection tools. For a full feature-by-feature breakdown, see our ANEXT vs Airwallex comparison.

What are the alternatives to ANEXT Bank?

Several digital banks and fintech platforms serve Singapore SMEs with similar or broader feature sets, including Airwallex. Our guide to ANEXT alternatives in Singapore covers seven options in detail.

Does ANEXT Bank charge GST on its services?

Most of ANEXT Bank's banking services are exempt from GST, so you won't see it added to your fees. Where GST does apply to a specific service, ANEXT will state this clearly before you complete the transaction.

Sources:

1.  https://www.anext.com.sg/bank-with-us/business-account

2.  https://www.anext.com.sg/bank-with-us/business-loan

3.  https://www.anext.com.sg/bank/faqs/fixed-deposit

4. https://anext.com.sg/bank/startups