10 best digital business bank accounts in Singapore (2026)

Key takeaways:

• Digital business bank accounts in Singapore fall into three categories: MAS-licensed digital banks, fintech platforms, and traditional banks with digital services. Each comes with different fees, features, and eligibility requirements.

• The right account depends on your priorities — whether that's SDIC deposit insurance, multi-currency support, free international transfers, or tools like expense management and accounting integrations.

• Airwallex is the only provider on this list that combines free international transfers to 120+ countries, 20+ currencies, and a full suite of business tools — Corporate Cards, expense management, automated Bill Pay, and an eCommerce payment gateway — on a single platform.

Finding the best digital business bank account in Singapore takes more research than it used to. The market now spans MAS-licensed digital banks, fintech platforms, and traditional banks. All offer digital-first services, but with very different fees, features, and eligibility rules.

This guide covers 10 options across all three categories. For each one, we explain what it offers, what it costs, and what genuinely sets it apart.

What is a digital business bank account?

A digital business bank account is a business account you open and manage entirely online — no branch visits, no paperwork. Everything from account setup to payments and reconciliation happens through a web platform or app.

In Singapore, businesses exploring digital business bank accounts have three main types of providers to choose from.

Type 1: Traditional banks

Legacy banks like DBS and OCBC offer digital business banking services, including online account opening, multi-currency accounts, and corporate cards. Some processes — particularly for foreign-owned companies — may still require in-person verification or additional documentation.

Type 2: MAS-licensed digital banks

Digital banks are institutions licensed by the Monetary Authority of Singapore (MAS) to operate entirely online. Singapore has four MAS-licensed digital banks: MariBank, GXS Bank, ANEXT Bank, and Green Link Digital Bank.

There are two licence types:

• Digital Full Bank (DFB): Can serve both individuals and businesses. MariBank and GXS Bank hold this licence.

• Digital Wholesale Bank (DWB): Serves businesses only. ANEXT Bank and Green Link Digital Bank hold this licence.

MAS-licensed Digital Full Banks — MariBank and GXS Bank — hold a banking licence and accept SGD deposits protected under the SDIC scheme, up to S$100,000 per depositor.

Type 3: Fintech platforms

Fintech providers like Airwallex, Aspire, Wise Business, and Revolut Business hold a Major Payment Institution (MPI) licence regulated by MAS. They are not licensed banks, so customer funds are not SDIC-insured — but MAS requires them to safeguard customer funds with approved financial institutions.

What sets fintech platforms apart is the breadth of their business tooling. Their accounts typically include multi-currency support, international transfers, corporate cards, expense management, and accounting integrations — features that go beyond what most digital banks currently offer.

Compare the 10 best digital business bank accounts in Singapore

Here is a quick overview of all 10 providers covered in this guide: 

The information in this table has been reviewed to be accurate as of 30 March 2026.

1. Airwallex Business Account

Most business accounts give you a place to hold money and make payments. Airwallex gives you that, and replaces four or five other tools on top of it. When you create a Business Account with Airwallex, you get additional tools built in:

• Corporate Cards

• Expense Management

• Automated Bill Pay

• eCommerce payment gateway

• Accounting integrations 

And these come with no monthly fee (on the Explore plan), and no minimum balance.

The payments capability is where Airwallex pulls furthest ahead of this list. International transfers are routed through local payment rails in 120+ countries, which means no SWIFT fees on those routes.

In total, Airwallex supports transfers to 200+ countries, with 93% of transactions arriving the same working day. For businesses paying overseas suppliers or employees regularly, that is a meaningful operational advantage over every traditional bank on this list.

The information in this table has been reviewed to be accurate as of 30 March 2026.

2. Aspire Business Account

Aspire is a Singapore-headquartered fintech platform trusted by 50,000+ businesses. It offers fully online account opening, multi-currency support across four currencies for holding funds, and corporate cards with 1% unlimited cashback on qualified SaaS and digital marketing purchases.

What sets Aspire apart is its accounting automation depth — its native Xero integration updates hourly, and it also connects with QuickBooks, Oracle NetSuite, Deskera, and SAP. There are no monthly fees, no initial deposit, and no minimum balance required.

The information in this table has been reviewed to be accurate as of 30 March 2026.

3. Wise Business Account

Wise Business is known for transparent, mid-market exchange rates with no markup. You can send and convert money in 40+ currencies, and unlock local account details in 24 currencies for a one-time S$99 setup fee — after that, there are no ongoing monthly fees.

International transfer fees start from 0.26% of the transfer amount. One clear limitation: Wise does not offer expense management tools, making it better suited as a payments and FX platform than a full financial operations solution.

The information in this table has been reviewed to be accurate as of 30 March 2026.

4. Revolut Business Account

Revolut Business is available for companies registered in Singapore and offers local SGD account details, FAST payments, and the ability to hold and transact in 25+ currencies.

Its standout feature is a tiered fee-free foreign currency exchange allowance — S$1,500 on the free Basic plan, scaling to S$13,000 on Grow (from S$15/month) and S$60,000 on Scale (from S$84/month).

Expense management and accounting integrations are available on all plans. More advanced features — including access to money market funds and bulk transfers — are only available on paid plans.

The information in this table has been reviewed to be accurate as of 30 March 2026.

5. MariBank Business Account

MariBank is a MAS-licensed digital full bank, which means SGD deposits are protected under the SDIC scheme. It offers 1.00% p.a. interest on all balances, free local transfers, and no monthly fees or fall-below fees — making it a cost-effective option for businesses that primarily transact in SGD.

International transfers are currently free as part of a promotion running until 30 June 2026; after that date, standard fees of S$3.00 per transaction plus agent fees will apply. The key limitation is that MariBank only supports SGD for account balances, so businesses with foreign currency needs will need to look elsewhere.

The information in this table has been reviewed to be accurate as of 30 March 2026.

6. GXS Bank Business Account

GXS Bank is a MAS-licensed digital full bank backed by Grab and Singtel, making it the newest digital bank on this list to offer business banking. Its GXS Biz Account earns 1.08% p.a. daily interest on balances, with zero account fees, no minimum balance, and free local transfers via FAST and PayNow. Deposits are SDIC-insured up to S$100,000.

There is one important eligibility caveat: the GXS Biz Account is currently available to sole proprietors only — it is not open to all business types.

It is SGD-only with no international transfer capability, so it suits businesses transacting purely within Singapore. Grab merchants and Singtel customers can access bonus interest and additional ecosystem perks.

The information in this table has been reviewed to be accurate as of 30 March 2026.

7. ANEXT Bank Business Account

ANEXT Bank is a MAS-licensed digital wholesale bank and a wholly-owned subsidiary of Ant International, giving it strong connectivity to trade corridors across Asia — particularly China.

Among the digital banks on this list, ANEXT offers the broadest currency reach: it holds funds in SGD, USD, CNH, and EUR, and supports sending and receiving in 10 currencies. It earns up to 1.00% p.a. daily interest on SGD, USD, and EUR balances, with a flat S$15 fee for international transfers. There are no monthly fees and no minimum balance.

The information in this table has been reviewed to be accurate as of 30 March 2026.

8. Green Link Digital Bank Business Account

Green Link Digital Bank (GLDB) is a MAS-licensed digital wholesale bank. It offers a fully digital account with no monthly fees and no minimum balance, supporting SGD and USD.

Its clearest differentiator is its fixed deposit offering — businesses can place SGD and USD fixed deposits across tenors of 6, 9, 12, and 18 months, which is useful for managing idle cash.

Green Link does not offer corporate cards, expense management, or accounting integrations, and its international transfer fees are not publicly disclosed on its product page — you will need to contact the bank directly for pricing.

The information in this table has been reviewed to be accurate as of 30 March 2026.

9. DBS Business Multi-Currency Account

DBS is Singapore's largest bank and offers the Business Multi-Currency Account in two tiers — a Starter Bundle for businesses under three years old, and a standard account for established businesses.

It supports 13 currencies and offers two distinct FX tools that no other provider on this list matches: SecureFX, which lets businesses lock in rates for 5 currency pairs up to one month ahead; and DBS FX Online, which covers 40+ currency pairs with forward booking of up to one year.

The trade-off is cost — the Starter Bundle starts at S$10/month, and international transfers cost S$30 flat plus agent bank fees.

The information in this table has been reviewed to be accurate as of 30 March 2026.

10. OCBC Business Growth Account

OCBC offers the Business Growth Account as its primary digital-first option for Singapore-registered businesses, with fully online account opening via Singpass. At S$10/month (waived for the first two months), it is one of the more affordable traditional bank options — though it does require a S$1,000 minimum initial deposit and charges a S$15 fall-below fee if your balance dips below that threshold.

The account includes 80 free FAST and 80 free GIRO transactions per month. For international transfers, a S$30 flat fee plus agent fees applies. A useful bundling advantage: pairing this account with OCBC's Multi-Currency Business Account waives the multi-currency account fee entirely, giving you foreign currency access at no extra ongoing cost.

The information in this table has been reviewed to be accurate as of 30 March 2026.

How to choose a digital business bank account in Singapore

With 10 options across three provider types, the right account depends on how your business actually operates. Here are the key factors to weigh before you decide.

Do you need SDIC deposit insurance?

This is the first question to answer. If protecting SGD deposits under the government-backed SDIC scheme matters to your business, you need a MAS-licensed bank — either a traditional bank like DBS, or a digital full bank like MariBank or GXS Bank. Fintech platforms and digital wholesale banks do not offer SDIC coverage.

Do you transact across borders?

If you pay overseas suppliers, receive payments from international customers, or hold funds in foreign currencies, multi-currency support and international transfer costs should be your primary filter.

Fintech platforms like Airwallex, Wise, and Aspire offer the broadest currency reach and the lowest transfer fees. The MAS-licensed digital banks on this list are largely SGD-focused, with the exception of ANEXT.

What are your monthly transaction volumes?

High-volume businesses need to check free transaction limits carefully. Some providers charge once you exceed monthly thresholds — particularly traditional banks. If you process a high number of local transfers, look for accounts with unlimited free FAST and GIRO.

Do you need business tools beyond the account?

If your team needs expense management, corporate cards, automated bill payments, or accounting integrations, not all providers on this list can help. Only a handful — primarily the fintech platforms — offer these tools natively.

What is your eligibility?

Some accounts have restrictions that are easy to overlook.

GXS Bank is currently limited to sole proprietors and select private limited companies. OCBC's Business Growth Account requires businesses to be registered in Singapore — foreign-owned businesses must apply for a separate product. Always check eligibility requirements before starting an application.

How fast do you need to get started?

Fintech platforms generally have the fastest onboarding, with some accounts activated within one to three business days. MAS-licensed digital banks vary, with some being faster and some being slower. Traditional banks typically take longer, particularly for businesses with foreign ownership.

Manage your global finances with Airwallex

With the Airwallex Business Account, you can open an account in a few business days — no paperwork or branch visits needed. You get multi-currency accounts in 20+ currencies, free international transfers to 120+ countries via local payment rails, and instantly-issued Corporate Cards.

Airwallex also brings payments, expense management, Bill Pay, and an eCommerce payment gateway into one platform — so you can stop juggling multiple tools and manage everything in one place.

Frequently asked questions (FAQs)

Is a corporate account the same as a business account in Singapore?

Yes, the terms are used interchangeably in Singapore. Both refer to accounts designed for business transactions, regardless of company size or structure. The specific features, fees, and eligibility requirements vary by provider — not by what the account is called.

What is the difference between a digital bank and a fintech in Singapore?

Digital banks — such as MariBank, GXS Bank, ANEXT Bank, and Green Link Digital Bank — hold a banking licence from MAS and can accept deposits. SGD deposits at digital full banks are protected under the SDIC scheme up to S$100,000. Fintech providers such as Airwallex, Aspire, Wise, and Revolut hold a Major Payment Institution licence — they are not banks, so customer funds are not SDIC-insured, but MAS requires them to safeguard funds with approved financial institutions.

How do I open a digital business bank account in Singapore?

Most digital business bank accounts can be opened entirely online. You will typically need your company's ACRA registration details and UEN, a valid ID for directors and shareholders, and proof of address. Fintech platforms generally have the fastest onboarding, with some accounts activated within one to three business days. MAS-licensed digital banks and traditional banks may take longer depending on your entity type and KYC requirements.

Which digital business bank account is best for international transfers?

It depends on your transfer volume and preferred cost structure. For businesses with high international transfer volumes, Airwallex offers free transfers to 120+ countries via local payment rails. Wise Business offers transparent mid-market rate transfers from 0.26% of the transfer amount with no hidden fees. ANEXT Bank offers a flat S$15 fee per international wire, which is predictable for lower-volume senders.

Is GXS Bank a good business account in Singapore?

GXS Bank is a decent option for sole proprietors looking for a simple, low-cost SGD account with daily interest. It offers 1.08% p.a. interest on balances, zero fees, and free local transfers — all in an app you can sign up for in under four minutes. The main limitations are its eligibility restrictions (currently sole proprietors and select private limited companies only), its SGD-only support, and its lack of international transfer capability. Businesses that need multi-currency accounts or cross-border payments will need to look elsewhere.

Do I need SDIC insurance for my business account in Singapore?

Not necessarily — but it is worth understanding what protection you do and don't have. SDIC insurance protects SGD deposits up to S$100,000 per depositor at licensed banks. If deposit insurance matters to your business, choose a MAS-licensed bank such as DBS, MariBank, or GXS Bank. If you use a fintech platform, your funds are not SDIC-insured — but MAS still requires those providers to safeguard customer funds with approved financial institutions.

Sources:

1. https://www.airwallex.com/sg/business-account

2.  https://www.airwallex.com/sg/business-account/transfers

3.  https://aspireapp.com/business-account

4.  https://wise.com/sg/pricing/business

5.  https://www.revolut.com/business/

6.  https://www.maribank.sg/fees-rates/mari-business-account

7.  https://www.anext.com.sg/bank/business-account/

8.  https://www.glbank.com/en/our-banking-solutions/cash/deposit-accounts/index.html

9.  https://www.dbs.com.sg/sme/day-to-day/accounts/dbs-business-multi-currency-account

10.  https://www.business.gxs.com.sg/biz-account

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.