Compare Business Banking in Singapore

Live offers

23 live offers compared from 15 providers, from S$266 /month. Updated daily.

What is business banking in Singapore?

Business banking provides the accounts and financial services companies need to operate: business current accounts, multi-currency accounts, payments and collections, corporate cards, financing and foreign-exchange. Singapore is a leading regional business and financial hub, so the market is deep, serving everyone from sole proprietors and startups to multinational treasuries. Alongside the major banks, a wave of fintech platforms now offers digital business accounts with fast onboarding and low-cost international payments, reflecting the country's trade-driven, globally connected economy.

How the Singapore market works

Traditional banks offer full-service business accounts with local and multi-currency capabilities, trade finance, corporate cards and lending, typically requiring more documentation and, for some, minimum balances. Fintech providers deliver app-based multi-currency accounts optimised for cross-border payments, expense management and integrations, often with faster online onboarding. Businesses commonly use several providers, pairing a bank account for local operations and credit with a fintech account for cheaper international transfers. Government-linked financing schemes also support small and medium enterprises.

Benefits

Multi-currency operations — Hold and transact in many currencies, essential for import, export and regional trade.

Efficient cross-border payments — Fintech platforms offer low-cost, fast international transfers at competitive rates.

Integrated financial tools — Corporate cards, expense management, invoicing and accounting integrations streamline operations.

Access to financing — Banks provide working-capital loans, trade finance and government-supported SME lending schemes.

How to choose

Match providers to how your business operates. If you trade internationally, prioritise multi-currency support and low foreign-exchange and transfer costs. If you need credit, trade finance or cash services, an established bank is important. Compare monthly fees, minimum balances, transaction and transfer charges, and onboarding speed and documentation. Many businesses combine a bank for local presence and lending with a fintech for cheaper cross-border payments. Consider integrations with your accounting software and the quality of business support.

Leading providers in Singapore

Business banking is served by DBS, OCBC and UOB, alongside HSBC, Standard Chartered and Citibank, plus fintech platforms such as Airwallex and Aspire. The local banks offer comprehensive services, financing and trade solutions with strong regional networks, foreign banks add global corporate capabilities, and fintechs like Airwallex and Aspire specialise in fast digital onboarding and cost-effective multi-currency payments. Many companies use a combination, selecting each provider for the strengths that fit their operations.

What it costs

Costs vary by provider and business size. Bank business accounts may charge monthly fees, often in the region of a few tens of dollars, with fall-below charges if minimum balances are not met, plus transaction and transfer fees; the illustrative figures shown reflect typical monthly account costs. Fintech accounts often reduce or waive monthly fees and compete on low transfer margins. Additional costs include corporate card, foreign-exchange, and financing charges. Compare the full fee schedule against your transaction patterns.

Protections and regulation

Banks and payment providers are licensed and supervised by the Monetary Authority of Singapore (MAS), with fintech payment platforms regulated under the Payment Services Act 2019, requiring safeguarding of customer funds and anti-money-laundering controls. Note that money held in fintech e-money accounts is safeguarded under payment rules rather than covered by SDIC deposit insurance, which applies to eligible Singapore-dollar deposits at licensed banks. Verify licensing on the MAS register and understand how your funds are protected with each provider.

Common questions

Bank or fintech account? — Banks suit local presence, credit and trade finance; fintechs excel at low-cost cross-border payments, and many businesses use both.

Are fintech balances deposit-insured? — No; e-money balances are safeguarded under MAS payment rules, whereas bank deposits fall under SDIC coverage.

How fast is onboarding? — Fintech accounts often open in days online, while bank accounts may require more documentation and time.

Business Banking in Singapore — FAQ