A side-by-side comparison of the most popular business banking options for local and foreign companies.
Singapore's business banks offer a range of account types catering to various industries and business stages.
- DBS Business Account: Ideal for startups and local SMEs, with quick approval and good digital tools.
- OCBC Business Growth Account: Low initial deposit, great for new ventures.
- UOB eBusiness Account: Multi-currency support, good for companies with overseas operations.
- Maybank FlexiBiz Account: Minimal fees and simple setup process.
Digital alternatives like Aspire, Wise Business, and Airwallex are also gaining traction. These are suitable for freelancers and digital entrepreneurs who need low-fee, FX-friendly solutions.
FAQ:
Q: Which account is best for international transactions?
A: UOB and Wise Business offer great FX support and multi-currency features.
Q: What’s the average monthly maintenance fee?
A: Traditional banks: SGD 10–25; Digital banks: often zero.
User Comments:
- “DBS’s online interface saved me so much time.”
- “I use Aspire for invoices and Wise for payments—works well together.”
Editor’s Note:
Always align your account choice with your transaction volume and region of operation.
Tags: best SME account, Singapore business banking, account comparison, startup finance
About the Author
Helen Lili – Editor, Research Lead
Helen leads tariff analysis and product change tracking. She maintains the normalized dataset that powers our comparison tables and ensures each claim links back to a dated primary source.
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