Opening a business account with a digital bank in Singapore is simple and paperless. Most providers offer fully online onboarding with approval in as little as 24–72 hours.

Prepare your company registration number, director/shareholder details, and business description. Some banks also request proof of address and transactional forecasts for risk assessment.

Once approved, you can start sending and receiving payments, issue virtual cards, and connect accounting software immediately.

FAQs:

Q: Can foreigners open digital business accounts in Singapore?

A: Yes, but typically at least one local director or company secretary is required.

User Comments:

  • “We were able to activate our account before our physical office even launched.”
  • “No queues, no signatures—just login and go.”

Editor’s Note:

Digital banking reflects the future of business infrastructure—lean, fast, and scalable.

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Sophia Tan

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. Read more articles

Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.