Best USD accounts in Singapore (2026): Fees and features compared

Key takeaways:

• A USD business account lets you receive, hold, and send USD directly, without paying unnecessary conversion or transfer fees.

• While banks offer multi-currency accounts, many come with high minimum balances, monthly account fees, and FX markups that increase the real cost of handling USD.

• Airwallex gives you local account details in 20+ currencies (including USD), market-leading FX rates, and access to local payment rails in 120+ countries so you can avoid SWIFT fees. 

If you run a business in Singapore, chances are you’ve dealt with USD. Maybe your biggest client is based in New York. Maybe your supplier in Vietnam insists on quoting in USD. Or maybe you’re selling on Amazon and payouts arrive in USD, whether you like it or not.

When that happens, relying on your SGD account means you’re losing money to conversion fees and waiting days for transfers to clear A USD account in Singapore gives you a more cost-efficient way to collect, hold, and pay in USD, without being hit by avoidable charges.

In this guide, we compare seven of the best USD business accounts in Singapore. You’ll see how traditional banks compare with modern solutions like Airwallex, and what to look for when it comes to fees, processing speed, and foreign currency support.

What is a USD account?

A USD account lets your business receive, hold, and send US dollars without converting them into Singapore dollars. These accounts come with local US bank details, such as account numbers and routing codes, so you can accept payments from American customers as if you had a domestic bank account there.

Both traditional banks and fintech providers offer USD accounts, with the key difference being how they process payments. Most local banks route international transfers through the SWIFT network, which adds three to five days to settlement times and includes intermediary fees. 

Modern solutions like Airwallex provide multi-currency accounts with local banking details, letting you receive, hold, and send foreign currency without forced conversions, high FX fees, or long processing times.

How does a USD account work?

A USD account works just like your normal bank account, except that payments in US dollars settle into a dedicated USD balance instead of being converted into SGD. The most efficient setup is to have your USD account sit inside a multi-currency account, so you don’t need separate bank accounts for each market. From there, you can use the USD funds for outgoing payments, or convert only the amount you need. 

For example, say you’re a consultant and a client in New York pays you US$10,000. With a USD account or a multi-currency account, you can pay a US sub-contractor or supplier from that same balance, before converting the remaining amount to SGD.

7 best USD accounts in Singapore in 2026

Between traditional banks, fintechs, neobanks, and digital banks, there's no shortage of USD account options for Singapore businesses. Here are the seven best USD account in Singapore, in terms of features, convenience, trust, and cost.

1. Airwallex Business Account: Airwallex is a global financial platform built specifically for businesses that operate across markets. Its USD account is one part of a wider system that brings payments, FX, cards, and spend management together in a single platform.

2. Aspire Business Account: Aspire is a Singapore-founded fintech that positions itself as a finance operating system for SMEs. The USD account sits alongside tools for approvals, expense tracking, and day-to-day controls, which makes it feel more like an internal finance tool than a simple bank account.

3. Wise Business Account: Wise started as a consumer-first FX platform and built its business offering around the same principles of transparency and simplicity. Its USD account is straightforward by design, and works well if your main priority is holding and converting currency without managing a broader finance stack.

4. YouBiz Multi-currency Account: YouBiz comes from YouTrip, a consumer FX and travel payments company. The USD account is built around employee card spend and rewards, making it a practical option if most of your USD activity happens through subscriptions, ads, or travel rather than complex payouts.

5. DBS Business Multi-Currency Account: DBS is Singapore’s largest bank and a familiar choice for established businesses. Its USD account is part of a traditional banking relationship, which suits companies that want foreign currency support alongside lending, trade finance, and access to physical branches. 

6. OCBC Multi-Currency Business Account: OCBC has a strong reputation and is well-suited for SMEs looking for a traditional bank. The USD account is designed to slot into a broader business banking setup, rather than act as a standalone global finance tool.

7. UOB Corporate Global Currency Account: UOB is known for its regional strength across ASEAN and its focus on corporate and trade-driven businesses. Its USD account is typically used as an extension of existing banking arrangements, especially for firms with cross-border suppliers or regional distribution networks.

Best USD accounts in Singapore compared

Choosing the right USD business account depends on your transaction volume, currency needs, and how you want to manage global payments. We've compared seven accounts on fees, processing speed, and the tools each platform offers.

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

Airwallex Business Account

Airwallex gives you local account details in 20+ currencies, including USD, inside a single multi‑currency business account. Most cross‑border transfers are routed over local payment rails rather than SWIFT, and 93% of transfers arrive on the same day.

FX pricing starts from around 0.4% above the interbank rate, helping businesses save up to 80% on FX fees compared to traditional banks. You can send funds to 200+ countries, with $0 transfer fees on local-rail payouts to 120+ countries.

Beyond currency management, Airwallex lets you issue virtual and physical multi‑currency Corporate Cards with no international transaction fees, and manage expenses and bill payments from the same platform. You can also accept online payments in 130+ currencies and 160+ local payment methods through a single gateway that connects directly to accounting tools like Xero, QuickBooks, NetSuite and SAP.

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

Aspire Business Account

Aspire targets Singapore SMEs with a digital-first account supporting four currencies, including USD. There’s no setup or maintenance fees, which makes it accessible for smaller teams. The platform handles basic expense management with invoice capture and approval workflows, and corporate cards offer 1% cashback on SaaS and digital advertising spend.

However, Aspire routes international transfers through Wise, which adds fees of 0.4% to send USD and 0.7% to receive USD. Settlement takes 2–3 business days. If you're making frequent USD transfers, these costs might be prohibitive.

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

Wise Business Account

Wise is known for keeping its FX pricing clear and predictable. Currency conversion uses the mid-market exchange rate, with a transparent service fee from around 0.26%, plus fixed charges such as S$8 for USD transfers. 

After a one-time S$99 setup fee, you can hold balances in 40+ currencies and receive USD using local account details in selected markets. Outgoing USD payments run through the SWIFT network, which means settlement typically takes 4-5 business days. Fees are around S$35 to receive funds, and S$19 to S$38 per outbound transfer.

Although the Wise business account integrates with Xero and QuickBooks, it doesn't include expense management, approval workflows, or a payment gateway.

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

YouBiz Multi-currency Account

YouBiz is designed around card spend, making it well suited for teams that travel frequently or spend heavily on foreign-currency expenses such as digital advertising and SaaS subscriptions. It offers 0% FX fees on card transactions in 150+ currencies, along with unlimited corporate cards and 1% cashback on eligible spend.

The account provides local bank details in nine currencies, including USD, with no setup or ongoing maintenance fees. FX conversion fees range from 0.1% to 0.6%, and USD transfers typically settle within 3-5 business days. Basic expense management features are included, but there is no outbound PayNow support and no CPF payment functionality.

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

DBS Business Multi-Currency Account

DBS supports 13 currencies, including USD, through its established banking infrastructure. This makes it a natural fit for companies that already rely on bank-provided credit, trade finance, or in-branch support, and want USD capabilities alongside those services. Its SecureFX feature allows businesses to lock in exchange rates up to one month in advance for payments of up to US$1 million, which can be useful for managing currency risk on larger contracts.

That said, the account comes with higher capital requirements and fees. You need to place an initial deposit of S$3,000 and keep at least S$10,000 in the account to avoid a S$40 monthly service fee, with a S$35 fall-below fee applying if your balance dips below the threshold. DBS also charges a S$50 annual fee, routes international payments through SWIFT at S$30 per transfer. FX rates include a markup that DBS does not disclose upfront.

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

OCBC Multi-Currency Business Account

OCBC removes many of the usual barriers associated with traditional bank accounts. There’s no minimum balance to maintain, no fall-below fees, and no initial deposit required. The bank charges S$10 per month unless you link the account to an OCBC Business Growth Account, which waives the fee. This makes OCBC one of the more accessible options among traditional banks.

The account supports 13 currencies, including USD, and integrates with Xero via OCBC Velocity to enable automated bank feeds. Local transfers cost between S$0.20 and S$20 depending on the recipient bank. International transfers go through SWIFT at up to S$30 per transaction, with USD payments typically settling within 1–4 business days. Like DBS, OCBC does not disclose its FX rates online.

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

UOB Corporate Global Currency Account

UOB’s strength lies in its regional ASEAN network and long-standing trade finance expertise. Its USD account is mainly used for cross-border trade, physical goods movement, and regional distribution, rather than for digital-first payment workflows.

The account supports 10 currencies, including USD, and targets companies that already bank with UOB and want to add foreign-currency capabilities on top of their SGD current accounts, loans, and trade services. You need to place an initial deposit of S$1,000 and keep at least S$10,000 in the account to avoid fall-below fees. 

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

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

How to choose the right USD account in Singapore

When choosing the right USD account for you, here’s what you should consider: 

• Fees: Account costs, FX spreads, and transfer charges that affect your bottom line.

• Speed: Settlement times for USD payments.

• Currencies: Support for other major currencies beyond USD.

• Features: Cards, expense management, payment gateway, and accounting integrations.

• Track record: Customer reviews and case studies showing real-world business use.

For individuals

Personal USD accounts are useful if you travel to the US frequently, make purchases or receive funds in USD. Some banks offer low or no minimum balance requirements with easy online management. Providers tend to structure their benefits differently, so compare account fees, FX rates, and withdrawal charges carefully to find what works for your needs.

For businesses

When choosing a USD business account, look closely at the following:

• Cost and fees: Don’t just look at headline fees. Compare account fees, FX spreads, minimum balances, and transfer charges to see the real impact on your bottom line.

• Other currencies: Check if the account supports the markets you plan to enter next. A multi-currency account with local bank details in multiple countries saves you from opening separate accounts later.

• Payment speed: Settlement times affect cash flow. Accounts using local payment rails deliver USD in one business day, while SWIFT routing takes 3–5 days with intermediary bank fees.

• Features: Look for an all-in-one account that includes corporate cards, expense management, and payment gateway capabilities.

• Reviews and case studies: Read customer feedback on sites like Trustpilot and see real examples of how businesses use the account. Our case studies page shows how Singapore companies use Airwallex to manage USD transactions and grow globally.

How to open a USD account in Singapore

With an Airwallex Business Account, you gain access to local currency accounts in 20+ currencies and our full suite of solutions including: competitive FX rates, cross-border payments, expense management tools, and corporate cards.

Let's walk through a few steps to get started.

1. Sign up for a free Airwallex Business Account: 

Start by providing your business email and legal name, and creating a password. Then fill in your other details, including your company size, primary area of interest, business name, business headquarters, and mobile number.

2. Verify your business and activate your account

To do this, confirm your business location, provide your Unique Entity Number (UEN), and upload the documents that are required for verification. 

3. Create your US Global Account: 

Access your Airwallex app, and navigate to “Wallet”, then “Global Accounts”. Click on “Create Global Account”.

Once that’s done, you can receive, hold and pay in USD without any conversion fees. 

Traditional banks vs modern solutions: Which offers better USD accounts?

The gap between traditional banks and modern alternatives largely comes down to infrastructure. Traditional banks built their international payment systems decades ago around correspondent banking relationships and the SWIFT network. 

That architecture worked well in an earlier era, but it wasn’t designed for the speed, transparency, and control businesses expect today. Updating it would require reworking long-standing relationships with hundreds of correspondent banks across multiple jurisdictions, which is understandably difficult to do. 

On the other hand, modern platforms like Airwallex started with a clean slate, building direct connections to local payment networks in each market. This approach enables faster settlement, lower costs, and clearer visibility into where funds are at any point in time. 

From a product perspective, traditional banks typically separate functions across different teams and systems – accounts, cards, and FX often sit in silos. Modern platforms like Airwallex bundle these capabilities into a single platform, reflecting how businesses actually manage money on a day-to-day basis.

Note: The information in this table has been reviewed to be accurate as of 26 January 2026.

Airwallex: The most complete and scalable USD account for global businesses

Most USD accounts do one thing: hold dollars. That solves the immediate problem when you're collecting US payments and want to avoid forced conversions, but it won’t be enough long-term. Over time, you’ll need to pay suppliers, manage team spending, collect customer payments, and reconcile everything into your books. Each new requirement often means adding another provider, another login, and another monthly fee.

Airwallex started as a solution for cross-border payments and evolved into a complete financial operating system. Our platform handles everything from currency conversion to payment collection, so you're not stitching together separate tools as your operations expand. 

Love, Bonito replaced their legacy bank setup with Airwallex across Southeast Asia, reducing cross-border transfer fees by 25% and enabling 95% of international payments to arrive on the same day. This freed its finance team from managing payment delays and allowed them to focus on growth and customer experience.

Frequently asked questions (FAQs)

Do I need a USD account?

Yes, if your business regularly deals in USD. If you receive payments from US customers, pay suppliers in USD, or sell through platforms like Amazon that settle in USD, a USD account avoids unnecessary conversions. Without one, your bank converts every USD transaction to SGD and back again, charging FX fees on both sides.

How can a USD account benefit my business?

A USD account lets you hold dollars instead of converting them immediately, so you only exchange currency when you actually need SGD. This eliminates double conversion fees and gives you control over timing, which helps if you're waiting for better exchange rates or have upcoming USD payments to make.

Which USD account is the best for SMEs in Singapore?

The best USD account depends on your transaction volume and whether you only need to hold USD, or also want to manage payments and spend. Airwallex is a strong option: it gives you a multi‑currency business account with local account details in 20+ currencies, including USD, plus Corporate Cards, Expense Management, Bill Pay, and online payment collection on a single platform.

Is a multi-currency account different from a USD account?

Yes. A USD account only holds US dollars, while a multi-currency account lets you hold multiple currencies, such as USD, EUR, and GBP, in one place. Most modern providers offer multi-currency accounts because businesses rarely operate in just two currencies long-term.

Do USD currency accounts offer better exchange rates?

It depends on the provider. Traditional banks bundle their FX markup into the exchange rate without disclosing it separately, so you don't know what you're paying. Digital platforms tend to show FX pricing upfront. For example, Airwallex applies a transparent FX margin for major currencies, allowing businesses to save up to 80% on FX costs compared to traditional bank rates.

Which other supported currencies are available for USD accounts?

Most USD business accounts support multiple currencies. Traditional banks like DBS, OCBC, and UOB support 10-13 currencies including EUR, GBP, AUD, and JPY. Digital platforms offer wider coverage: for example, Airwallex supports 20+ currencies with local bank details.

Sources:

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

2. https://wise.com/sg/business/

3. https://www.you.co/biz/multi-currency-accounts/

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.my/business/accounts/foreign-currency-account.page

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.