MariBank Business Account (2025): Should you apply for a Mari Business Account? We review the account fees and features

Key takeaways 

• The Mari Business Account provides an SGD account, free local transfers, and perks for Shopee sellers.

• International expansion is constrained with the Mari Business Account, given its limited payout coverage and capped transfers.

• Airwallex builds on everything the Mari Business Account offers. You get everything MariBank promises, including fast online setup and local SGD transfers. But with Airwallex, you also get multi-currency accounts, global payment acceptance, 60+ currencies, payouts to 120+ countries, corporate cards, and full expense management.

Running a business in Singapore often means selling far beyond its borders. You might be fulfilling Shopee orders from Malaysia, paying a supplier in Shenzhen, or testing ad campaigns in Indonesia. With every transaction touching your business account, you need it to be robust and reliable to keep money moving.

Traditional business accounts take weeks to open and charge high fees. Digital options like Airwallex and the Mari Business Account promise faster setup. However, with Maribank, the limitations become clear once you need to pay overseas suppliers, collect in USD or EUR, or issue team cards – you’ll run into capped transfers, missing currencies, and added admin.

In this review, we’ll walk through what MariBank’s Business Account offers, where it falls short, and how Airwallex gives you more – multi-currency accounts, competitive FX, global transfers, and built-in tools to keep your business moving across markets.

Is the Mari Business Account suitable for your business?

The Mari Business Account provides an SGD account that can be opened online. It supports local transfers within Singapore through FAST and PayNow, as well as international transfers to 13 countries. 

If you do business outside Singapore, or have ambitions to do so, the Mari Business Account is less suitable. It caps international transfers, supports only a handful of markets, and doesn’t let you hold foreign currencies. You also pay more to send money overseas, since transfers are routed through SWIFT instead of local rails. For finance teams running multi-market operations, that means extra conversions, more manual work, and unnecessary fees.

Note: The information in this table has been reviewed to be accurate as of 16 September 2025.

In contrast, Airwallex gives you everything the Mari Business Account offers: fast online setup, local SGD transfers, and zero monthly fees. On top of that, you get the global infrastructure your business‌ needs. You can receive funds in 20+ currencies with local bank details, convert at interbank rates, and send money to 200+ countries. More than 90% of transfers are routed through local payment rails in 120+ countries, helping you move money faster and keep costs down. While MariBank stops at local, Airwallex gives you the reach and tools to operate globally. 

What is the Mari Business Account?

MariBank is a digital bank in Singapore, owned by Sea Group, the parent company of Shopee. The Mari Business Account lets Singapore-incorporated companies open and manage an SGD account entirely online.

If you sell on Shopee, you can use the account to access one free withdrawal each day, instead of waiting for a week. This speeds up cash flow for merchants who depend on frequent payouts to cover day-to-day expenses.

Beyond this, the account is limited. Transfers are limited to SGD and 10+ other currencies, with caps on outgoing overseas payments. MariBank also does not currently support incoming overseas payments, or you can't hold balances in multiple currencies with the Mari Business Account. If your business has global ambitions, these constraints will make them harder to achieve.

How does Mari Business Account compare with Airwallex?

The Mari Business Account covers everyday SGD transactions. But once you start operating internationally, the gaps become hard to ignore. Airwallex closes those gaps by giving you multi-currency accounts, wider global coverage, transparent FX, and tools designed to scale with your business. 

Here's how Airwallex stacks up with MariBank on the features that matter most:

Multi-currency support   

You can open Global Accounts in 20+ currencies across 60+ countries, complete with local bank details. This lets you get paid like a local in multiple markets without forced conversions or hidden fees. You can then pay out in that currency directly, avoiding unnecessary costs from forced conversions. In contrast, MariBank only supports SGD balances, so businesses dealing in USD, EUR, or other currencies face extra costs and potential delays. 

Free local transfers to 120+ countries

Airwallex uses local payment rails instead of SWIFT to deliver free transfers to more than 120 countries, with 95% settling the same day. You pay fewer fees, move money faster, and keep costs predictable when paying suppliers, employees, or partners.

Instantly issue corporate cards 

Airwallex offers virtual and physical multi-currency corporate cards with built-in expense tracking and approval workflows. Create custom approval flows, see spend in real time, and keep every transaction visible in one platform.

Earn competitive returns on idle funds

Airwallex Yield lets you earn returns across SGD and USD while keeping your funds liquid and ready to move when your business needs them.

End-to-end expense management 

With Airwallex, you get an all-in-one expense management solution with built-in tools to automate reimbursements, create approval flows, run batch transfers, and sync everything directly with Xero or QuickBooks. Your finance team sees spending in real time and avoids manual admin, no matter how many markets they manage.

Collect customer payments globally 

Airwallex's payment gateway lets you accept customer payments worldwide via 160+ local methods, with funds flowing straight into your multi-currency account. Transactions reconcile automatically, helping you boost conversions and expand into new markets with confidence.

Note: The information in this table has been reviewed to be accurate as of 16 September 2025.

What are the key features of the Mari Business Account?

Here’s what you get when you open a Mari Business Account:

• SGD account for local and overseas transfers

• No account fees

• Interest on balances

• Shopee integrations

• Digital onboarding via Singpass

• App-based account management 

SGD account for local and overseas transfers

You can make free local transfers via FAST and PayNow. While overseas transfers are supported, they are restricted to a small number of currencies and destinations, with no support for incoming payments and caps on outgoing transfers. These transfers mostly run on the SWIFT network, which adds cost and slows things down. The fees that come with SWIFT, often S$25 or more per transfer, can be avoided entirely with Airwallex which uses local payment rails. The account supports SGD balances only, with no option to hold or manage multiple currencies. 

No account fees

There are no account opening charges, monthly maintenance fees, fall-below fees, or minimum balance requirements.

Interest on balances

You can earn daily interest of up to 1.0% per annum on your SGD balance. 

Shopee seller benefits

If you sell on Shopee, you can withdraw your balance once per day instead of once per week.

Digital onboarding via Singpass

Applications can be submitted via Singpass. That said, eligibility is limited to specific business types, and all owners or directors must be Singapore citizens or PRs. The approval process can take up to two business days. 

App-based account management 

The account can be managed via the MariBank app. Users can also switch between personal and business accounts without logging out.  

What are Mari Business Account's pricing & fees?

MariBank positions its Business Account as low-cost, with no account opening fees, monthly charges, or minimum balance requirements. While local SGD transfers via FAST and PayNow are free, overseas payments are restricted to a small set of currencies and corridors, with strict caps and undisclosed FX rates.

Note: The information in this table has been reviewed to be accurate as of 16 September 2025.

Stop losing out to hidden charges – explore Airwallex's pricing & fees 

Airwallex offers a transparent fee structure so you always know what you’re paying. Not only do you get access to unlimited free local transfers, you can convert currencies at interbank rates and send S$0 international transfers via local rails to 120+ countries. With one account, you can create multi-currency accounts for collections, issue corporate cards, and manage expenses at transparent, predictable rates.

Note: The information in this table has been reviewed to be accurate as of 16 September 2025.

How to open a Mari Business Account in Singapore?

Opening a Mari Business Account is fully digital, but eligibility is strict. 

Eligibility requirements 

• Business must be incorporated in Singapore as a Sole Proprietorship, Private Limited (no corporate shareholders), Partnership, or LLP (no corporate partners).

• All owners, directors, or shareholders with ≥25% stake must be Singapore citizens or PRs.

• A valid Singpass login is required.

Application steps

• Step 1: Download the MariBank app and log in with Singpass.

• Step 2: Select Apply for a Business Account (or, if you already have a Mari Savings Account: go to Me → Apply for a New Product → Business Banking).

• Step 3: Enter your business details, upload required documents, and submit.

Airwallex also offers fully digital onboarding but, in contrast to MariBank’s strict limits and eligibility requirements, provides broader access for companies of different sizes and structures.

Need a faster option? See how to open a business account with Airwallex

Opening an account with Airwallex is 100% online, and only takes a few minutes. To get started, you’ll need:

• A registered business in Singapore

• A valid NRIC or passport for identity verification

• Proof of address and business details

• Names and IDs of directors or shareholders (if applicable)

Then follow the steps below:

1. Visit the Airwallex signup page

2. Sign up for an Airwallex Business Account 

   1. Provide your business email, legal name, and create a password 

   2. Provide additional details, including your company size, primary area of interest, business name, business headquarters, and mobile number

3. Verify your business and activate your account 

   1. Confirm your business location  

   2. Provide your Unique Entity Number (UEN)     

   3. Provide documents for identity verification

Once submitted, our team will review your application. Most accounts are approved within a few business days. Want to see how it works? Watch our quick demo.

3 reasons why businesses choose Airwallex over the Mari Business Account

Opening a digital business account should help you grow across borders, not lock you into a single currency or slow you down with hidden fees. Here are some reasons why 150,000 businesses worldwide trust Airwallex:

1. Multi-currency global accounts built for global operations

With Airwallex, you can open Global Accounts in 20+ currencies with local bank details in major markets around the world, including the US, UK, EU, Hong Kong, and Australia. Get paid like a local, hold funds in those currencies, and pay out directly without forced conversions or hidden bank fees. This keeps your money working harder and removes unnecessary FX costs.

MariBank only supports SGD balances. If your customers pay in USD or EUR, you’ll be forced to convert immediately – often at unfavourable rates – adding cost and complexity to every transaction.

2. Competitive FX and lower international transfer fees

Airwallex gives you access to competitive interbank rates for 90+ currencies, saving you up to 80% in FX fees. Our proprietary connections with local payment rails also let you bypass SWIFT to make transfers like a local in 120+ countries – with 95% of transfers landing within a few hours. To top it off, you can send funds to up to 1,000 recipients around the world at no cost via Batch Transfers, simplifying operations and improving your margins.

MariBank caps overseas transfers at S$5,000 and routes most payments through SWIFT. That means higher fees, slower payments, and less visibility into what you’re really paying.

3. Cards, payments, and expense management in one platform

Airwallex gives you more than a business account. Beyond supporting multi-currency balances, you can issue physical and virtual cards in multiple currencies, manage spend in real time, and set custom approval flows. Our international payment gateway also lets you accept customer payments via 160+ local payment methods. Every transaction is automatically synced to your accounting software, reducing time spent on reconciliation.

MariBank doesn’t offer cards, expense tracking, or payment integrations. That means more manual work, more tools to manage, and more time lost as your business grows.

Go global with Airwallex 

The Mari Business Account is typically used for everyday SGD payments and simple local transfers. For small businesses operating only in Singapore, it can be enough to cover basic needs. But once your operations stretch beyond local transactions, limits around single-currency balances, transaction caps, and international coverage begin to show.

Airwallex gives you everything Mari promises and more. You get fast digital onboarding, local SGD transfers, and no monthly fees. On top of that, you can open multi-currency accounts to collect and hold funds in 60+ currencies, and pay out to 200+ countries ‌at transparent interbank rates. More than 90% of transfers are routed through local rails, meaning faster, lower-cost settlement that scales with your business. 

Beyond transfers, Airwallex brings payments, cards, and expense management into one platform. That means you can issue multi-currency corporate cards, automate reimbursements, reconcile transactions in real time, and integrate directly with tools like Xero and Shopify. Instead of juggling multiple providers as you grow, Airwallex provides the infrastructure to manage your global finances end-to-end. 

Singapore-based design studio, Mighty Jaxx experienced the benefits first-hand. They struggled with high FX fees and slow payouts when selling in multiple markets. With Airwallex, they bypassed SWIFT, saved up to S$30 on every cross-border transfer, enabled local payment options through our gateway, and issued multi-currency cards to control global company spend. 

Accounts built for local transfers aren’t built for global growth. Airwallex gives you the financial infrastructure to operate across markets and grow without limits.

Frequently asked questions (FAQs)

What is the Mari Business Account?

The Mari Business Account is a digital business banking product offered by MariBank, a digital bank in Singapore owned by Sea Group (the parent company of Shopee). It provides an SGD account with free local transfers and daily withdrawals for Shopee sellers. The account is mainly designed for small businesses operating in Singapore.

Is the Mari Business Account free?

Yes. There are no account opening fees, monthly maintenance charges, fall-below fees, or minimum balance requirements. Domestic SGD transfers via FAST and PayNow are also free. However, overseas transfers may incur fees depending on the destination and are subject to strict transaction limits.

What are the limits on the Mari Business Account?

Local transfers to non-MariBank accounts are capped at S$200,000 per transaction. Overseas transfers range from a minimum of S$500 to a maximum of S$200,000. MariBank also does not currently support incoming overseas transfers, meaning you can only send funds abroad, not receive them. These limits can create challenges for businesses that need to move higher-value payments across borders.

Can I hold foreign currencies in a Mari Business Account?

No. The Mari Business Account only supports balances in SGD. While it allows outbound overseas transfers in select currencies, businesses cannot hold or manage multiple currencies within the account.

Who can apply for a Mari Business Account?

Eligibility is restricted to Singapore-incorporated entities such as Sole Proprietorships, Private Limited Companies without corporate shareholders, Partnerships without corporate partners, and LLPs without corporate partners. In addition, all owners, directors, partners, or shareholders with 25% or more shareholding must be Singapore citizens or permanent residents.

How does Airwallex compare to the Mari Business Account?

Airwallex gives you everything the Mari Business Account offers, including fast online setup, an SGD account, and free local transfers. But it also gives you the tools to operate beyond Singapore.

With Airwallex, you get local account details in multiple currencies, transfers to over 200 countries, and access to interbank rates. On top of this, Airwallex offers corporate cards, expense management, online payment acceptance, and integrations with accounting tools – features that the Mari Business Account does not provide.

Sources: 

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

All comparisons and information reflect Airwallex’s own research using public documentation as of 16 September 2025, and have not been independently validated.

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, or guarantees regarding content accuracy, completeness, or currentness. Product features, pricing and other details are subject to change. Airwallex does not guarantee the continued accuracy of this information and is not responsible for any inaccuracies that may arise from such changes. This publication is not intended to be relied on for the purpose of making a decision about a financial product. Users are encouraged to conduct their own verification and seek their own advice.

If you would like to request an update of the content in this publication, 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.