9 Best Business Bank Accounts in Singapore (2026)
Business bank accounts in Singapore for SMEs: current accounts from MAS-licensed banks plus regulated payment providers, with what each says it offers.
- Edited by
- Amir Wahab
- Published
- Reading time
- 6 min read
AI image by LocalRankOpening a business account is one of the first practical steps after registering a company in Singapore. This guide lists specific business accounts that their providers show as open to new Singapore-registered businesses: current accounts from banks that state deposit-insurance coverage, plus two multi-currency accounts from MAS-regulated payment institutions that say they are not banks. Each entry describes the product as its own page presents it and how the provider says it is regulated. The order is editorial grouping, not a ranking, and nothing here is personal advice. We leave out fees, interest rates, balance requirements and promotions because they change often; read the current terms on each provider's site before you apply.
1. DBS Business Multi-Currency Account
The DBS Business Multi-Currency Account is a business account from DBS Bank, which its site describes as licensed and regulated by the Monetary Authority of Singapore. Its page also carries a Singapore Deposit Insurance Corporation notice for eligible deposits. The product page says the account lets a company hold and transact in Singapore dollars and a range of foreign currencies in one account, with a business debit card, accounting-software connections and the DBS IDEAL digital banking platform. It lists a Starter Bundle variant for younger companies alongside a standard version, and says Singapore-incorporated companies fully owned by Singapore citizens or permanent residents can apply online. Check current terms, eligibility and charges on the DBS page.
2. OCBC Business Growth Account
The OCBC Business Growth Account is a business current account from OCBC Bank, which the bank's page describes as an all-in-one account for running a business. The page says Singapore dollar deposits are protected under the Singapore Deposit Insurance Scheme, subject to its limits, and that foreign currency deposits and investment products are not insured. As presented, the account comes with a business debit card, a companion multi-currency account option and access through the OCBC Business app and the OCBC Velocity platform. It says the account is meant for businesses registered in Singapore, with foreign-owned companies directed elsewhere, and offers a Singpass online application for eligible businesses. Read the current terms on OCBC's page.
3. UOB eBusiness Account
The UOB eBusiness Account is a Singapore dollar business account from United Overseas Bank. UOB's page carries a notice that Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, up to the limit set by law. The page describes it as an affordable account for startups and established small businesses, with access to UOB Infinity and the UOB SME app for payments, collections and cash management, and says it can be linked to selected accounting and payroll software. Online applications go through Singpass for Singapore-registered sole proprietorships, partnerships and private limited companies that meet the page's ownership conditions. Review the latest eligibility and charges on UOB's page.
4. UOB BizTransact Account
The UOB BizTransact Account is a second Singapore dollar business account from United Overseas Bank, and UOB's page carries the same Singapore Deposit Insurance Corporation notice for eligible Singapore dollar deposits. The page positions it for businesses with a high volume of local, cross-border and payroll payments, and describes it as a transaction-focused account that gives fee advantages on those payment types. It says online applications are open to Singapore-registered sole proprietors, partnerships and private limited companies that meet the stated ownership and signatory conditions, and that foreign currency deposits and investment products are not covered by deposit insurance. Compare how UOB describes each of its accounts, then read the current terms and charges on its pages.
5. Standard Chartered BusinessOne Current Account
BusinessOne is a business current account from Standard Chartered Bank (Singapore) Limited. The bank's page describes it as a non-interest-bearing account with preferential pricing on transactions and remittances, positioned as a one-stop account for transactional, payment and cash management needs. As presented there, it includes a business debit card and internet banking. The page carries a Singapore Deposit Insurance Corporation notice for eligible Singapore dollar deposits and says foreign currency and structured deposits are not covered. The product page points applicants to a get-in-touch option and the bank's business banking line rather than an instant online opening flow, so expect to speak with the bank. Check the current requirements and pricing guide on its site.
6. CIMB SME Account
The CIMB SME Account is a business current account from CIMB Bank in Singapore. CIMB's page describes it as a low-cost account aimed at startups, young businesses and growing SMEs, and says eligible businesses registered in Singapore can apply online through its account application platform, supplying certified company documents, identity copies and specimen signatures for the relevant parties. The page carries a Singapore Deposit Insurance Corporation notice for eligible Singapore dollar deposits. It lists domestic payment methods such as PayNow, FAST and GIRO, handled through BizChannel@CIMB, and publishes a general commercial banking phone line and email. Because the provider mentions introductory pricing, confirm what applies today in the current fee guide on the CIMB site.
7. Mari Business Account
The Mari Business Account is the business deposit account from MariBank, the digital full bank owned by Sea Group. MariBank's page says the bank is licensed by the Monetary Authority of Singapore and carries the Singapore Deposit Insurance Corporation notice for eligible Singapore dollar deposits. The page presents the account as a single app experience that lets an owner switch between personal and business banking, with PayNow and local transfers and overseas transfers to a list of destinations. It also describes a faster Seller Balance withdrawal option aimed at Shopee sellers. MariBank publishes in-app chat, a phone number and an email address for support. It sets eligibility rules on business and owner types, so read the current conditions on its page.
8. Airwallex Business Account
Airwallex offers a digital business account for companies that trade or pay across borders. It is not a bank deposit account, so Singapore deposit insurance should not be assumed. Its site says Airwallex (Singapore) Pte. Ltd. is licensed in Singapore as a Major Payment Institution and regulated by the Monetary Authority of Singapore, and says funds are safeguarded in line with local regulations and held with financial institutions. The page lists multi-currency balances, international transfers and FX, corporate cards, expense management, payment links and global receiving accounts, and positions the account for internationally active businesses such as e-commerce sellers, software companies and importers or exporters. Read the safeguarding terms, fee pages and sign-up requirements before opening an account.
9. Wise Business
Wise Business is a multi-currency business account from Wise, a payments company rather than a bank. Wise's Singapore site states that Wise Asia-Pacific Pte Ltd is regulated as a Major Payment Institution by the Monetary Authority of Singapore, and its regulatory help page also says the entity holds a Capital Markets Services Licence. The site describes the account as built for start-ups, small businesses and freelancers working internationally, with international transfers, multi-currency balances, business debit cards, payment acceptance and accounting-software integrations. It says money is held with a group of financial institutions. Singapore bank deposit insurance should not be assumed for a payment account. Review the safeguarding explanation, eligibility rules and pricing page first.
How to choose
- Check the legal status first. A bank account is held with a MAS-licensed bank and may carry deposit insurance for eligible Singapore dollar deposits, while a payment institution is regulated differently and describes how customer money is safeguarded. Read the provider's own regulatory statement, and confirm it in the MAS Financial Institutions Directory.
- Read the full fee schedule and pricing guide, not the headline. Look at how local transfers, cross-border payments, foreign exchange, cheques, cards, monthly account charges and any shortfall or early closure charges are structured, then match them against how your business will actually move money.
- Confirm eligibility before you apply. Online opening is often limited by entity type, ownership and signatory arrangements, and some banks route other companies to a branch or relationship manager. Look at the documents each provider asks for, and how long it says onboarding and compliance checks usually take.
- Think about the currencies and counterparties you deal with. If you pay overseas suppliers or receive foreign income, compare how each account handles foreign currency balances, where funds are held and what happens if you need to convert. A purely domestic business may need less than an international trader.
- Look at the day-to-day tools and support. Check the digital banking platform, user permissions, accounting and payroll integrations, card options and the support channels published. Ask what happens if the account is flagged or frozen, and keep a second account as a backup option where practical.
. No changes recorded since.
Founder and Editor
Amir Wahab is the founder and editor of LocalRank, an independent Singapore rankings and local guides publication.
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