Singapore is arguably the best place in the world to do business. But before you can conquer the market, you need a place to stash your cash. Choosing a corporate bank account is one of the first and most important decisions you will make as a founder.
You don’t want a bank that drowns you in paperwork or charges you hidden fees just for breathing. You want a financial partner that is efficient, digital-first, and confirm good. Whether you are a solopreneur running an e-commerce store or a multinational setting up a regional HQ, we have the list for you.
Here are the 10 best business banks in Singapore.
1. DBS Bank
DBS is the “Gorilla” of banking in Singapore. It is the safest, largest, and most digital-forward bank in the region. For most businesses, this is the default choice. Their digital platform, DBS IDEAL, is incredibly robust, allowing you to manage almost everything online without ever stepping into a branch.
Best for: Everyone. It is the reliable, all-rounder choice with the widest ATM network.
2. OCBC Bank
OCBC is famous for being extremely friendly to SMEs (Small and Medium Enterprises). They understand that startups might not have millions in capital yet. Their “Business Growth Account” is legendary because it has a very low initial deposit requirement (often as low as $500) and waives the monthly account fee for the first few months.
Best for: New startups and small businesses looking for low barriers to entry.
3. UOB (United Overseas Bank)
If your business strategy involves conquering Southeast Asia (like Thailand, Vietnam, or Indonesia), UOB is your best bet. They have the strongest regional footprint among the local banks. Their BizGlobal platform makes cross-border payments within ASEAN very cost-effective.
Best for: Companies doing frequent cross-border trade within Southeast Asia.
4. Aspire
Technically, Aspire is a fintech company (or a “financial operating system”) rather than a traditional bank, but it is reshaping the industry. It is 100% online. You can open an account in days, not weeks. They offer fantastic FX rates and a corporate card that gives cashback on digital marketing spend.
Best for: E-commerce sellers, digital agencies, and modern tech startups who hate visiting physical branches.
5. Maybank Singapore
If you do business with Malaysia, Maybank is non-negotiable. As Malaysia’s largest bank, the transfer of funds between Singapore and Malaysia is seamless and often instant. Their “Flexibiz Account” is also attractive because it requires no minimum balance to maintain.
Best for: Businesses with suppliers, customers, or operations across the Causeway in Malaysia.
6. Standard Chartered Singapore
Standard Chartered is a global heavyweight. While they are often associated with large corporates, their “Smart Business$aver” account is surprisingly good for smaller players. They often offer high interest rates on your operating balances, meaning your idle cash actually earns money for you.
Best for: Companies that keep high cash balances and want to earn interest on them.
7. ANEXT Bank
ANEXT is a digital wholesale bank backed by Ant Group (an affiliate of Alibaba). Because they are purely digital, they have very low overheads. They offer features like daily interest and dual-currency accounts (SGD and USD) without the heavy minimum balance fees of traditional banks.
Best for: Micro-businesses and SMEs needing easy access to financing and USD accounts.
8. Citibank Singapore
Citibank is a premium option. They focus heavily on global connectivity. If your company deals with US dollars frequently or has headquarters in the United States, the Citi ecosystem is unmatched. Their platform is sophisticated, capable of handling complex payroll and treasury functions.
Best for: Large MNCs (Multinational Corporations) and US-centric businesses.
9. MariBank
MariBank is the digital bank offering from Sea Group (the parent company of Shopee and Garena). It is the new kid on the block but is gaining traction fast. Their Corporate Account integrates tightly with the Shopee ecosystem. It offers a staggering 2.5% p.a. interest rate (at the time of writing) with no minimum deposit.
Best for: Shopee sellers and businesses deeply integrated into the Sea Group ecosystem.
10. HSBC Singapore
HSBC calls itself “The world’s local bank,” and they excel in trade finance. If your business involves importing and exporting goods globally, HSBC’s Letters of Credit and trade handling services are world-class. They also have a dedicated team for SMEs called HSBC Fusion.
Best for: Import/Export businesses and trading companies.
