Top 7 fintech business accounts in Singapore (2026)

Key Takeaways:

• A fintech business account is a fully digital account that typically offers lower fees, multi-currency support, and faster setup than a traditional bank account.

• Singapore has over 1,300 fintech firms,¹ and the range of business account options has grown significantly — from payment specialists to digital wholesale banks.

• Airwallex stands out as the only fintech business account in Singapore with a built-in eCommerce payment gateway that supports like-for-like settlement in 20+ currencies.

Choosing the right fintech business account in Singapore can save your business money and hours of manual work. With more providers entering the market, the differences between them — fees, currencies supported, and the depth of features — matter more than ever.

Singapore is the fintech capital of Southeast Asia, home to over 1,300 fintech firms.¹ It is no surprise that digital financial services are now a core part of how businesses here manage their money.

In this article, we compare seven fintech business accounts available in Singapore, covering fees, features, MAS licensing, and what each provider does best. We also explain how fintech accounts differ from traditional banks, and when it makes sense to use one.

What is a fintech business account?

A fintech business account is a fully digital account offered by a financial technology (fintech) company or a digital bank. Unlike traditional bank accounts, these accounts are opened and managed entirely online — no branch visits, no paper forms.

In Singapore, fintech business accounts come from two types of institutions.

Type 1: Digital banks

Digital banks hold a banking licence from the Monetary Authority of Singapore (MAS) and offer services like multi-currency accounts, fixed deposits, and business loans — similar to traditional corporate banks.³ The key difference is that they operate entirely online, with no physical branches.

Singapore currently has four MAS-licensed digital banks:

• ANEXT Bank and Green Link Digital Bank hold Digital Wholesale Bank licences, meaning they serve businesses and non-retail customers.

• GXS Bank and MariBank hold Digital Full Bank licences, allowing them to serve both retail and business customers.

Type 2: Fintech payment specialists

Fintech payment specialists are not banks, but they hold licences from MAS under the Payment Services Act. They focus on solving the pain points of international payments: high fees, slow transfers, and complex multi-currency management.

These providers go beyond basic transfers. Many offer tools like corporate cards, expense management, bill payments, and eCommerce payment gateways that digital banks typically do not.

Fintech payment specialists operating in Singapore include:

• Airwallex

• Wise

• Aspire

• Revolut

• YouBiz

Each holds a different regulatory status, which we outline in the comparison table below.

Top 7 fintech business accounts in Singapore

Here is a side-by-side comparison of seven fintech business accounts available to Singapore businesses. This covers both fintech payment specialists and MAS-licensed digital banks, so you can see how they differ:

The information in this table has been reviewed to be accurate as of 13 April 2026.

1. Airwallex

Airwallex is an end-to-end financial platform built specifically for businesses. Where most fintech accounts focus on transfers and currency exchange, Airwallex goes further, giving you access to Corporate Cards, Expense Management, Bill Pay, and an eCommerce payment gateway, all from one account.

You can open multi-currency Global Accounts in 21 countries, each with a local account number and bank code, so you can receive payments like a local business in markets where you operate. On top of that, you get free transfers to 120+ countries via local rails.

Plus, Airwallex is the only fintech account in Singapore with a payment gateway that supports like-for-like settlement in 20+ currencies — meaning you keep revenue in the currency it was earned, without converting to SGD each time.

Airwallex holds a Major Payment Institution licence from MAS. Your funds are safeguarded in line with MAS regulations.

The information in this table has been reviewed to be accurate as of 13 April 2026.

2. Aspire

Aspire is a Singapore-headquartered fintech built with local SMEs in mind. It offers a multi-currency business account across four currencies — SGD, USD, GBP, and EUR⁴ — alongside tools for expense management, payroll, invoicing, and accounting integrations, all in one platform.

Corporate cards give your team 1% cashback on advertising and SaaS spending⁴, which adds up quickly for businesses with regular digital marketing budgets. International transfers use competitive FX rates from 0.23%⁴, and your funds are safeguarded at Tier-1 banks including DBS.

Note that Aspire operates under a temporary exemption from the Payment Services Act for its core account and payment services — it does not hold a full MAS payment institution licence for these activities.

The information in this table has been reviewed to be accurate as of 13 April 2026.

3. Wise

Wise is a UK-based fintech that serves both individuals and businesses globally. Singapore businesses can hold money in 55 currencies, send international transfers from 0.26%⁵, and issue debit cards for team spending.

To unlock local account details in 24 currencies, you pay a one-time S$99 setup fee — after that, there are no monthly fees. Wise is a good fit for businesses that primarily need low-cost international transfers and multi-currency holding. It does not offer a payment gateway, business loans, or fixed deposits.

The information in this table has been reviewed to be accurate as of 13 April 2026.

4. ANEXT Bank

ANEXT Bank is a MAS-licensed Digital Wholesale Bank and a wholly owned subsidiary of Ant International. It is designed for Singapore SMEs, particularly those with high volumes of USD and CNH transactions.

You can hold balances in SGD, USD, CNH, and EUR, earn up to 1.0% p.a. daily interest on SGD, USD, and EUR, and send SWIFT international transfers at a flat S$15 fee. Local transfers via FAST, PayNow, GIRO, and MEPS are free⁶.

ANEXT is one of the few fintech accounts in Singapore that also offers business loans — including credit lines, term loans, and secured property financing — alongside fixed deposits with tenures from one to 12 months⁶.

The information in this table has been reviewed to be accurate as of 13 April 2026.

5. Green Link Digital Bank

Green Link Digital Bank (GLDB) is Singapore's first digital wholesale bank⁷, holding a Digital Wholesale Bank licence from MAS. It specialises in supply chain financing — helping businesses unlock working capital tied up in receivables, payables, and trade cycles.

GLDB is most relevant to manufacturers, wholesalers, and businesses with complex multinational supply chains that need structured financing solutions alongside day-to-day banking. Its product suite covers payables financing, receivables financing, and supply chain financing, as well as standard cash management tools.

 Specific fee information is not currently available on GLDB's official website — check with them  directly for current rates before applying.

The information in this table has been reviewed to be accurate as of 13 April 2026.

6. Revolut

Revolut is a UK-based fintech that has expanded to Singapore, where it operates as a technology services provider through partner banks — it is not a licensed bank or payment institution in Singapore.⁸ That said, it offers a feature-rich business account with 25+ currencies, physical and virtual cards, expense management, bill payments, and eCommerce payments via Revolut Pay.

The platform integrates with Xero, Sage, QuickBooks, and 45+ other tools. Revolut also offers forward contracts, limit orders, and stop orders for currency risk management — a feature most providers in this list do not offer. Pricing is plan-based; Revolut has 4 plans, including Basic at $0/month, Grow at S$15/month, Scale at S$84/month and Enterprise at S$417/month.

The information in this table has been reviewed to be accurate as of 13 April 2026.

7. YouBiz

YouBiz is built by YouTrip — Singapore's well-known multi-currency consumer card provider — for business use. It focuses on two things: eliminating FX costs and maximising card rewards. YouBiz corporate cards offer 1% unlimited cashback on all purchases with no minimum spend or cap⁹, and 0% FX fees on card spending in foreign currencies, making it one of the most card-rewarding options for businesses with high cross-border spend.

You can hold up to nine currencies, remit to 150+ countries, and send batch transfers to up to 1,000 recipients at once. Local transfers via FAST are free, and YouBiz states businesses can save up to 6x on remittance fees compared to traditional solutions.

The information in this table has been reviewed to be accurate as of 13 April 2026.

What is the difference between a fintech business account and a traditional bank account?

The main differences come down to physical presence, the range of services offered, and cost. Neither is universally better — the right choice depends on what your business actually needs.

Here’s a quick overview:

Fintech business accounts

Fintech accounts are built for speed and digital convenience. You open them entirely online, often within a few business days, and manage everything through a web dashboard or mobile app.

They typically have no account opening fees, no monthly maintenance fees, and no minimum balance requirements. Their strength is in payments — particularly cross-border transfers, multi-currency accounts, and integrations with accounting or eCommerce software.

The trade-off is scope. Fintech accounts do not offer deposit insurance under Singapore's Deposit Insurance Scheme, and most cannot provide business loans, credit facilities, or overdrafts.

Traditional bank accounts

Traditional banks like DBS and OCBC have physical branches and a long-standing regulatory track record. Their accounts often come with account opening fees, monthly admin fees, and minimum balance requirements. In return, you get access to loans, credit lines, government-backed schemes, and in-person relationship managers.

For businesses that need financing or are in sectors with strict banking requirements, a traditional bank account may be necessary — even if you also use a fintech account for day-to-day payments.

Benefits of using a fintech business account

Fintech accounts are not just a cheaper alternative to traditional banks. For many businesses, they solve problems that traditional banks were never designed to handle — particularly around international payments and day-to-day financial operations.

Benefit 1: Quick setup

You can open a fintech account entirely online. Most providers approve applications within one to three business days. All you need are digital copies of your business registration documents and identification for your directors and shareholders.

Benefit 2: Lower cost of banking

Fintech accounts typically have no account opening fees, no monthly maintenance fees, and no minimum balance requirements. Cross-border transfer fees and FX markups are also significantly lower than those charged by traditional banks.

Benefit 3: Multi-currency accounts

Rather than converting every foreign payment into SGD, fintech accounts let you hold, receive, and spend in multiple currencies. This reduces unnecessary conversion fees and gives you more control over when and how you exchange money.

Benefit 4: Faster international payments

Transfers via local payment rails are often faster and cheaper than SWIFT. Many providers offer same-day delivery to key markets, which matters when you are paying suppliers or settling invoices across borders.

Benefit 5: Integrated financial tools

Fintech accounts come with tools built for modern business operations — corporate cards, expense management, bill payments, and accounting software integrations. These reduce manual work and give you a clearer picture of where your money is going.

Benefit 6: eCommerce support

For businesses selling online, fintech accounts integrate directly with platforms like Shopify and support local payment methods like PayNow, GrabPay, and AliPay. Some, like Airwallex, offer a full payment gateway with multi-currency settlement.

How to choose a fintech business account

With seven providers to choose from, the right account depends on how your business operates — not just which provider has the longest feature list. Here are the key questions to ask before deciding.

What currencies do you transact in?

If your business sends or receives money in multiple currencies regularly, look for a provider with a wide range of account currencies and low FX fees.

Do you need a payment gateway?

If you sell online and want to accept payments from customers in different countries, you need a provider with a built-in payment gateway. Airwallex is currently the only fintech business account in Singapore that offers this alongside multi-currency accounts and transfers.

How important are card rewards?

If your team spends heavily on digital advertising, SaaS tools, or international business travel, cashback can add up meaningfully. YouBiz offers 1% unlimited cashback on all card spending with 0% FX fees. Aspire offers 1% cashback on ad and SaaS spend specifically.

Do you need financing?

Fintech payment specialists cannot offer business loans or credit facilities. If you need financing, look at ANEXT Bank or Green Link Digital Bank — both are MAS-licensed digital banks that offer lending products alongside business accounts.

How much do you value regulatory protection?

MAS-licensed providers like Airwallex and Wise are required to safeguard customer funds under strict MAS rules. Digital banks like ANEXT and GLDB are held to full banking standards. Revolut, by contrast, is not a licensed bank or payment institution in Singapore — something worth factoring into your decision.

Do you need supply chain or trade financing?

If your business is in manufacturing, wholesale, or logistics and you need to manage working capital across a supply chain, Green Link Digital Bank specialises in exactly this. Most payment-focused fintechs do not offer these products.

How to open a fintech business account in Singapore

Opening a fintech business account is straightforward. Most providers complete the process entirely online, and many approve applications within one to three business days.

What you need to prepare

Requirements vary slightly by provider, but most will ask for the following:

• Proof of business registration — your Accounting and Corporate Regulatory Authority (ACRA) business profile and Unique Entity Number (UEN)

• Proof of business address — a rental agreement or official document showing your registered address

• Director and shareholder information — NRICs or passports, and proof of address for all directors, shareholders, and ultimate beneficial owners

• Authorisation letter — if the person applying is not a director of the business, a letter confirming they have authority to act on the company's behalf

For companies with corporate shareholders holding more than 25% of ordinary shares, some providers may also request a certificate of incumbency or certified shareholding structure.

Step-by-step process

• Choose your provider — use the comparison table above to shortlist accounts that match your business needs

• Prepare your documents — gather soft copies of all required documents before starting your application

• Apply online — visit your chosen provider's website and complete the application; many support Singpass MyInfo Business to auto-fill company details

• Complete identity verification — upload documents and verify your identity digitally

• Wait for approval — most fintech providers respond within one to three business days; some may request additional documents

• Activate your account — once approved, set up your account details, issue corporate cards if needed, and connect your accounting software

Are fintech business accounts safe to use in Singapore?

Yes, as long as the provider is regulated by MAS. Singapore has one of the most rigorous financial regulatory frameworks in the world, and fintech providers operating here must meet strict standards for fund safeguarding, security, and financial conduct.

How MAS regulation protects your funds

Fintech payment specialists like Airwallex and Wise hold a Major Payment Institution licence from MAS.

Under this licence, they are required to safeguard customer funds — keeping them separate from the company's own money and holding them with licensed financial institutions. This means your funds are protected even if the provider runs into financial difficulty.

Digital banks like ANEXT Bank and Green Link Digital Bank are held to full banking standards under their Digital Wholesale Bank licences, which carry equivalent requirements to traditional bank licences.

What to watch out for

Not every provider in the market holds a full MAS licence. Aspire currently operates under a temporary exemption from the Payment Services Act for its core account and payment services. Revolut is not a licensed bank or payment institution in Singapore at all — it processes transactions through partner banks.

This does not necessarily make these providers unsafe, but it does mean a different level of regulatory oversight applies. Before opening any fintech account, check the provider's regulatory status on the MAS Financial Institutions Directory at mas.gov.sg.

One important distinction

Unlike licensed banks, fintech payment specialists are not covered by Singapore's Deposit Insurance Scheme, which protects deposits of up to S$100,000 per depositor at licensed banks.

Why businesses in Singapore choose Airwallex

Most fintech accounts do one or two things well. Airwallex is built to handle your entire financial operation — from the moment you receive a payment to the moment you pay a supplier on the other side of the world.

Go global without opening overseas bank accounts

Setting up a bank account in a foreign market can take weeks and involves significant paperwork. With Airwallex, you can instantly open local currency accounts in 21 countries, each with a local account number and bank code. This lets you receive payments from overseas customers and pay local suppliers as if you were banking in that market — without ever leaving Singapore.

Send money abroad with zero transfer fees

With Airwallex, you get free transfers to 120+ countries via local rails. 93% of our transfers arrive the same day. For businesses making regular overseas payments, this adds up to meaningful savings compared to both traditional banks and other fintech providers.

Accept online payments in more currencies

Airwallex is the only fintech business account in Singapore with a built-in payment gateway that supports like-for-like settlement in 20+ currencies.

You can accept payments across 160+ payment methods and 180+ countries, and keep the revenue in the currency it was earned, without converting to SGD each time. This is particularly valuable for eCommerce businesses selling to customers in multiple markets.

Control spending across your entire team

With Airwallex Corporate Cards, you can issue unlimited virtual and physical Borderless Visa Cards to your team at no cost. Cards come with real-time spend controls, no foreign transaction fees, and direct integration with your expense management workflow. Managers can set limits, approve spend, and track transactions in real time.

Frequently asked questions (FAQs)

Is a fintech business account the same as a bank account?

No. A fintech business account is not a bank account in the traditional sense. Fintech payment specialists hold payment institution licences from MAS rather than full banking licences, which means they cannot offer loans, credit facilities, or deposit insurance. Digital banks like ANEXT and Green Link Digital Bank are closer to traditional banks, as they hold banking licences and can offer lending products.

Can I use a fintech business account as my main business account?

Yes, many businesses in Singapore use a fintech business account as their primary account for day-to-day payments, transfers, and expenses. However, if your business needs loans, overdrafts, or access to government financing schemes, you will likely need a traditional bank account alongside it.

Is it safe to open a fintech business account in Singapore?

It is safe as long as the provider is regulated by MAS. Licensed providers are required to safeguard your funds separately from their own money and hold them with regulated financial institutions. Before opening any account, verify the provider's licence status on the MAS Financial Institutions Directory at mas.gov.sg.

What is the difference between a fintech business account and a digital bank account?

A digital bank holds a full banking licence from MAS and can offer services like fixed deposits and business loans. A fintech payment specialist holds a payment institution licence and focuses on transfers, multi-currency accounts, and payment tools. Both operate entirely online, but the scope of services differs significantly.

What documents do I need to open a fintech business account in Singapore?

Most providers require your ACRA business profile, proof of business address, and NRICs or passports for all directors, shareholders, and ultimate beneficial owners. Some providers also ask for a board resolution or authorisation letter if the applicant is not a company director. Requirements vary by provider, so check directly before applying.

Which fintech business account is best for international payments in Singapore?

The right choice depends on your specific needs — the volume of transfers, currencies involved, and whether you also need to accept payments online. Airwallex offers free non-SWIFT transfers to 120+ countries and a built-in payment gateway, making it a strong option for businesses with cross-border operations. Wise and YouBiz are also worth considering for businesses that prioritise low FX fees on transfers and card spending respectively.

Sources:

1.  https://www.mas.gov.sg/development/fintech

2. https://www.imda.gov.sg/resources/press-releases-factsheets-and-speeches/press-releases/2025/singapore-digital-economy

3.  https://www.mas.gov.sg/regulation/banking/digital-bank-licence

4.  https://aspireapp.com/pricing

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

6.  https://www.anext.com.sg/business-account

7.  https://www.glbank.com/

8.  https://www.revolut.com/business/

9.  https://www.you.co/biz/

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.