Best business accounts in Singapore (banks and non‑bank providers)

Non-residents can open Singapore business accounts through specialist providers like Wise Business (40+ currencies, 99 SGD opening fee, no monthly fee, 0.26%+ transfer fees) and Revolut Business (25+ currencies, 0-417 SGD/month plans), or major banks like DBS (10-50 SGD/month) and UOB (35 SGD annual fee). Singapore-registered businesses must provide company registration documents, director identification, proof of address, and business activity details, with some banks requiring in-person branch visits while digital providers offer fully online applications.

Singapore's developed financial sector offers business accounts from local banks, international banks, and specialist providers tailored to company size, from free startup accounts to corporate services for multinationals. Whether you're launching a business in Singapore or managing international transactions, choosing the right account depends on your multi-currency needs, transfer frequency, and fee structure preferences.

Can non-residents open a business bank account in Singapore?

Yes. Foreigners and non-residents can open a business account in Singapore if you have a Singapore registered business. You can choose to open an account with a bank or specialist provider like Wise or Revolut.

Not all Singapore banks allow non-resident account opening for small businesses, so you'll need to check the rules in place with the bank you select. Even where non-resident account opening is supported you may not be able to open an account online or in an app, requiring a conversation with a dedicated advisor and a visit to a branch in person.

Best business bank accounts in Singapore

Singapore has a developed financial sector with local, regional and international banks available for business customers. All major banks offer business services split by business size or stage to allow customers to access appropriate features without excessive fees.

You'll find free business bank accounts for startups and sole traders with app-based transactions, business accounts for established companies split by turnover or features, and corporate services from global banks like HSBC for businesses with complex financial needs.

Top business account providers in Singapore

Wise Business Account

Great for: No monthly fee, 40+ supported currencies, mid-market rate conversions

Hold 40+ currencies and get paid in 20+ currencies. Send transfers to 140+ countries with mid-market rates and low, transparent fees (from 0.26%). Includes business debit cards, batch transfers, accounting integrations (Xero, QuickBooks, FreeAgent), and API access. Opening fee: 99 SGD for full features. No monthly fees.

Revolut Business Account

Great for: Different plans for varying transaction needs, 25+ currencies

Four account plans (Basic to Enterprise) offering business debit cards and 25+ currencies. Monthly fees: 0-417 SGD. Includes some no-fee transactions monthly (varies by plan). Currency conversion: 0.6% after plan limits, 1% weekend fee applies.

Statrys Business Account

Great for: No monthly fees, 11 supported currencies

For companies registered in Hong Kong, Singapore, and BVI. No opening or monthly fees. Supports 11 currencies. Transfer fees: 4-20 SGD depending on currency/route. Currency conversion from 0.1% (major currencies) to 0.15% (others).

DBS Business Banking

Great for: Established Singapore banks with branch support

Starter Bundle: 10 SGD monthly. Multi-Currency Account: 50 SGD annual + 40 SGD monthly (waived with 10,000 SGD average balance). Supports 13 currencies. Transfer fee: 30 SGD. Uses bank exchange rates.

UOB Business Bank Account

Great for: Traditional banking with SGD accounts

35 SGD annual fee, 15 SGD monthly minimum balance fee. SGD only. Transfer fees: 10-100 SGD depending on value/method. Uses bank exchange rates.

How to open a business bank account in Singapore

Step 1: Understand the requirements

You'll need a Singapore-registered business and must provide company registration documents, director identification, proof of address, and business activity details.

Step 2: Gather your documents

Typical requirements include company registration certificate, articles of association, director/shareholder IDs, proof of business address, and business plan or activity description.

Step 3: Submit your application

Digital providers offer fully online applications, while traditional banks may require in-person branch visits with a dedicated advisor.

Step 4: Fund your account and start to transact

Once approved, fund your account according to minimum balance requirements and begin business transactions.