Best multi-currency accounts in Singapore (2026): Top fees and features compared

Key takeaways:

• A multi-currency account lets you receive, hold, and pay in multiple foreign currencies from one place. It often comes with local account details in key markets so you don’t need separate overseas bank accounts.

• The right business multi-currency account helps you avoid forced conversions on transactions, cut hidden FX and transfer fees, and streamline reconciliation across currencies.

• Airwallex gives you more than just a multi-currency account — you get a global wallet with competitive FX, S$0 local‑rail transfers to 120+ countries, plus integrated tools like Corporate Cards, Bill Pay, Expense Management, and a payment gateway in one platform.

For businesses dealing with frequent cross‑border payments, costs can add up quickly, especially if every payment is converted back to SGD. On top of FX spreads, you may also be paying SWIFT charges, intermediary bank fees, and hidden mark‑ups on your transactions. These charges erode your margins and make international payments more costly than they need to be.

This guide walks you through different multi-currency account options in Singapore and compares the leading providers. It also shows how Airwallex helps you save on FX while simplifying how you manage global payments and growth.

What is a multi-currency account?

A multi-currency account lets you receive, hold, and pay in different foreign currencies from a single wallet instead of opening separate foreign currency accounts in each market. You can keep balances in multiple currencies, choose when to convert, and avoid unnecessary double conversions every time a customer pays you or you pay a supplier. 

How does a multi-currency account work?

A multi-currency account groups several currency balances into a single wallet, so you can receive, hold, and pay out foreign currencies without opening separate bank accounts. When a client pays you in USD or EUR, the funds are credited to that currency balance instead of being auto‑converted into SGD. 

You can then use those same balances to make international transactions to suppliers or staff, or convert them at a time when exchange rates are more favourable. 

What are the top multi-currency accounts in Singapore (2026)?

If you’re looking for the best multi-currency account in Singapore, you’ll find options from both fintech platforms and traditional banks. Here are nine leading Singapore multi-currency accounts with strong currency coverage, competitive fees and practical features for SMEs: 

1. Airwallex Business Account: A multi-currency account built for global operations, with local bank details, competitive FX, high-speed transfers, and cards/collections in one platform.

2. Aspire Business Account: A digital account for startups and SMEs that combines simple multi-currency wallets with core SGD tools, transfers, and corporate cards.

3. Wise Business Account: A multi-currency account focused on low-cost international transfers, transparent FX, and overseas spend via Wise debit cards.

4. YouBiz Business Account (YouTrip): A nine-currency wallet with virtual and physical corporate cards for SMEs that mainly need straightforward overseas card spend and basic bill payments.

5. DBS Business Multi-Currency Account: A traditional bank multi-currency account that holds SGD and major foreign currencies, with access to DBS branches, trade services, and other banking products.

6. OCBC Multi-Currency Business Account: An account for SMEs that mostly bank locally but also invoice or pay overseas, combining SGD and several foreign currencies in OCBC’s online banking suite.

7. UOB Global Currency Account: A multi-currency account to receive and pay in major currencies using UOB’s digital channels and branch network.

8. Maybank Foreign Currency Current Account: A foreign currency account for companies trading between Singapore, Malaysia and nearby markets, focused on a small set of regional and major currencies.

9. CIMB Foreign Currency Current Account: A foreign currency current account for businesses with regular cross-border payments, especially within ASEAN, that want a regional banking relationship.

We’ll walk through each of these accounts in more detail in the next sections of this article.

Top 9 multi-currency accounts in Singapore compared

If you’re comparing the best multi-currency accounts in Singapore, it helps to see the key features side by side. The table below shows the nine options we’ve outlined, and compares them on currencies, fees, and everyday usability.

Note: The information in this table has been reviewed to be accurate as of 12 January 2026.

Airwallex Business Account

The Airwallex Business Account is designed to be more than just a multi-currency account for holding foreign currencies. You can collect payments in 130+ currencies and send S$0 local‑rail transfers to 120+ countries, with up to 80% savings on FX fees.

Beyond that, Airwallex lets you manage Corporate Cards, Bill Pay, Expense Management, and a full payment gateway from the same platform. For businesses that want an account they can‌ run day‑to‑day operations from, Airwallex is a good option.

Aspire Business Account

Aspire’s business account pairs a standard SGD business account with a small multi-currency wallet for a few major foreign currencies. It works well for startups and SMEs that mainly pay and get paid in SGD but also need occasional FX transfers, corporate cards, and simple spend controls. Local payments run through FAST and GIRO, but most cross‑border transfers still rely on SWIFT, so overall costs can rise as international volumes grow.

For more details on Aspire’s business account, read our Aspire Business Account review.

Wise Business Account

The Wise Business Account is built around low‑cost cross‑border transfers and transparent FX rather than full‑service business banking. You can hold and convert 40+ foreign currencies, receive local bank details in selected markets, and send payments to 70+ countries from a single dashboard.

This makes Wise useful for freelancers, startups, and SMEs that need to invoice or pay overseas without opening separate foreign currency accounts for each market. As your needs become more complex, you might need another provider for things like payment acceptance, richer accounts payable (AP) workflows, and a dedicated SGD operating account.

For more details on Wise’s business account, read our Wise Business Account review.

YouBiz Business Account

YouBiz is a SME‑focused multi-currency account built by YouTrip for Singapore businesses. It pairs a nine‑currency wallet with unlimited virtual and physical corporate cards. Card spend in supported currencies comes with 0% foreign transaction fees and 1% cashback, which makes YouBiz particularly attractive for teams with frequent travel, online advertising, and Software as a Service (SaaS) subscriptions charged in foreign currencies.

You also get basic expense management and a Xero integration with YouBiz, so card transactions, pay‑ins, and payouts can sync automatically into your ledger. However, YouBiz does not support all local payment types or a full payment gateway, so most SMEs will still pair it with a separate SGD business account and other tools as they scale.

For more details on YouBiz’s business account, read our YouBiz Business Account review.

DBS Business Multi-Currency Account

The DBS Business Multi‑Currency Account is a traditional bank multi-currency account that lets you hold SGD and a basket of major foreign currencies in one place. It’s a good fit if you want to centralise day‑to‑day banking, lending, and trade finance with DBS while still managing basic FX balances from a single account.

You get access to DBS IDEAL for online banking, local FAST/GIRO payments, and telegraphic transfers for cross‑border payments. The trade‑off is cost and flexibility: You’ll typically pay a monthly service fee if your average daily balance falls below the minimum balance, and overseas transfers run over SWIFT with a flat TT fee plus FX spread.

For more details on DBS’s business account, read our DBS business banking guide.

OCBC Multi-Currency Business Account

The OCBC Multi‑Currency Business Account lets SMEs hold SGD alongside several foreign currencies, and it’s designed for businesses that mostly operate in SGD but regularly invoice or pay overseas suppliers. This account works well for businesses who are already using OCBC, and want to keep everything within the OCBC ecosystem, including loans, overdrafts, and cash‑management services.

With this account, you’ll manage balances and payments through OCBC Velocity, using FAST and GIRO for local SGD transfers and telegraphic transfers for cross‑border payments. As with most traditional bank accounts, FX pricing is baked into OCBC’s quoted exchange rates, and you’ll need to watch minimum deposit and fall‑below rules to avoid extra account maintenance fees.

UOB Corporate Global Currency Account

The UOB Corporate Global Currency Account lets you hold and manage 10 foreign currencies in separate ledgers under one business relationship. It’s designed for companies that already bank with UOB and want to add foreign‑currency facilities on top of their SGD current accounts, loans, and trade finance.

You manage balances and payments through UOB Infinity, with foreign‑currency transfers typically routed via telegraphic transfer and FX priced into UOB’s quoted exchange rates plus commissions and agent fees. Because this is a foreign‑currency current account, local FAST and GIRO are handled through a separate SGD business account rather than this product itself.

Maybank Foreign Currency Current Account

Maybank’s Foreign Currency Current Account is aimed at businesses that regularly trade in a small set of regional and major currencies, especially across Singapore–Malaysia and wider ASEAN corridors. You open separate foreign‑currency current accounts (for example in USD, AUD or GBP), then manage balances and telegraphic transfers through Maybank’s digital channels and branches.

CIMB Foreign Currency Current Account

The CIMB Foreign Currency Current Account lets businesses hold and transact in seven currencies (AUD, CAD, CNH, GBP, HKD, NZD and USD) under one relationship, with online access via BizChannel@CIMB. Minimum initial deposits and average balance requirements apply by currency, with fall‑below fees if you don’t meet them.

How to choose the right multi-currency account in Singapore

Choosing a multi currency account comes down to how you earn, hold, and spend money across borders.

For individuals

If you’re an individual, consider how you typically spend, and whether that’s on travel, online shopping, overseas study, or supporting family abroad. 

Look for an account that lets you hold the currencies you use most, keeps currency conversion fees low and offers a card or wallet that’s easy to use overseas. On top of that, look at how top‑ups and withdrawals work, app experience, and whether your funds are protected (e.g. Singapore Deposit Insurance Corporation (SDIC) insured bank deposits vs safeguarded e‑money).

For businesses 

For businesses, focus on how a business multi-currency account supports your daily operations and future growth. Here are a few things to consider:

• Currencies and markets: Does it support your core foreign currencies and the countries you’re scaling into?

• Features and workflows: Can it handle collections, payouts, cards, and reconciliation from one place?

• Total cost: Compare FX margins, transfer fees, fall‑below charges, and software add‑ons together.

• Integrations and automation: Check how it connects to your accounting, ecommerce, and payroll tools.

• Social proof: Look for customer stories and case studies.

Traditional banks vs modern solutions: Which multi-currency account is better?

When you compare traditional banks with modern fintech platforms like Airwallex, the trade‑off is usually between breadth of banking services (loans, cash handling, branches) and the cost, speed, and automation of everyday cross‑border payments. 

Banks work well if you need in‑person support and credit facilities, and modern platforms are stronger when it comes to FX costs, like‑for‑like collections, and integrated tools for running global operations. Here’s a quick overview:

Airwallex: The most complete and scalable multi-currency account for businesses of all sizes

Airwallex is built for businesses that have moved beyond the occasional overseas transfer and need a single place to manage global balances, payments, and spend. With Airwallex, you get a single multi-currency account with local account details in 20+ currencies, S$0 local‑rail transfers to 120+ countries, and FX from 0.4% above interbank.

On top of that, Airwallex brings together Corporate Cards, Bill Pay, Expense Management, and a full payment gateway. That means you can collect funds from customers, pay overseas suppliers, reimburse employees, and reconcile everything into your accounting software without switching between bank portals and standalone tools.

For Singapore businesses, this translates into real savings and faster operations. Love, Bonito, for example, used Airwallex Global Accounts and FX & Transfers to replace legacy bank setups, cutting cross‑border transfer fees by 25% and getting 95% of international payments to land on the same day. That freed their team to focus on expansion and customers instead of chasing payment delays.

If you’re ready to consolidate multi-currency balances, payments, and company spend on one platform, Airwallex offers the most complete business multi-currency account for scaling across borders.

Frequently asked questions (FAQs)

Do I need a multi-currency account?

You need a multi-currency account if you regularly earn, hold, or pay money in foreign currencies and want to avoid constant conversions back to SGD. If you transact overseas only a few times a year, a standard SGD account plus an occasional FX transfer or travel card is usually enough.

How can a multi-currency account benefit my business?

A business multi-currency account benefits your business by letting you avoid forced FX conversions every time you get paid or make a payment in a foreign currency. Instead of auto‑converting everything back to SGD, you can receive, hold, and pay in those currencies from one place, which cuts FX costs and double conversions. It also simplifies reconciliation and cash‑flow management, because you see all your currency balances and cross‑border payments in a single dashboard instead of juggling several bank portals.

What is the process for opening a multi-currency account in Singapore?

To open a multi-currency account in Singapore, you choose a provider, submit an application, and complete identity and business verification checks. Banks typically require you to visit a branch for verification purposes, while fintechs like Airwallex complete the same Know Your Customer (KYC) process fully online.

Which multi-currency account is the best for SMEs in Singapore?

For SMEs with regional or global growth plans, Airwallex is often the best choice because it combines a multi-currency wallet, low FX margins, S$0 local‑rail transfers, and integrated tools (cards, bill pay, expense management, and payment acceptance) on one platform. If you mainly need lending, cash services, or in‑branch support, a traditional bank’s multi-currency business account may still play a complementary role alongside Airwallex.

Sources:

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

2. https://wise.com/sg/business/ 

3. https://www.you.co/biz/

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

5. https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account

6. https://www.uob.com.sg/business/accounts/corporate-global-currency-account.page 

7. https://www.maybank2u.com.sg/en/business/global-banking/accounts/current/foreign-currency-current-account.page? 

8. https://www.cimb.com.sg/en/business/solutions-products/cash-management/commercial-current-accounts/cimb-foreign-currency-current-account.html 

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.