Selecting the best business account in Singapore

Choosing the right business account is an important choice that deserves a thorough analysis. Compare Aspire with the DBS Business Account, OCBC Business Account, UOB Corporate Account, and Maybank Business Account.

Aspire Business Account

Open account

DBS Business Digital Account

OCBC Business Growth Account

UOB Business SGD Current Account

Maybank FlexiBiz Account

ACCOUNT

Monthly Fees

No Charges

$18

$10

$2.91

Minimum Deposit

$1,000

Minimum Balance

$10,000

Fall-Below Fees

$35

LOCAL TRANSFERS

FAST Transfer Fee

$0.50

$0.20

Standing Instruction

$10

FOREIGN TRANSFERS*

Outbound

FX Rate

No markup, mid-market rate

0.47% avg. markup

0.46% avg. markup

0.48% avg. markup

0.91% markup

Transfer Fee

Low, transparent fee

From $30

From $35

From $30

From $40

Inbound

FX Rate

No markup, reuters buy rates

1.14% avg. markup

1.59% avg. markup

1.64% avg. markup

1.93% avg. markup

Transfer Fee

Transparent 0.5% Fee

From $10

CARDS

Card Type

Virtual Visa Debit

Visa Debit

Cashback

1.0%*

0.3%

0.2%

0.3%

N/A

FX Fees*

0.7% on Visa rates

3.72%

3.71%

3.73%

3.66%

FX Markup (on visa rates)

0.7%

0.47%

0.46%

0.48%

0.91%

ACCOUNT FEATURES

Payment Acceptance

FAST, GIRO, PayNow (on roadmap)

FAST, GIRO, Cheque, PayNow

Customer Support

Phone, Email, Chat response in 15 minutes

Phone, Email

What are the important factors to consider when choosing a business account?

We highlight the top factors business owners consider when choosing their business account.

Compare business accounts pricing

Price is often the main criterion when comparing business bank accounts. Banks or neobanks' pricing can vary by a factor of two. Business owners should also pay attention to the pricing structure and to the potential hidden costs (such as interchange fees or turnover commissions).

Study accessibility and integration options

How easy is the account to use, is financial information displayed clearly with no hidden prices? Is there a mobile app, and an integration to your accounting software? As a business owner, time is your most valuable asset and you want to be investing your time in growing your business, not behind a pile of paperwork.

What are the banking solutions offered

Entrepreneurs should consider their financial needs through the various company development stages. Some financial institutions also offer other services that an entrepreneur might want to take into account, such as business insurances, credit, or cards.

Quality of customer service

Traditional banks usually require users to physically come to the bank to open an account, while a neobank is more convenient as the account opening can be done online. Traditional banks often leave business owners hanging for hours via answering machines, even while business owners prefer direct and real-time customer support.

Selecting the best business account in Singapore

Choosing the right business account is an important choice that deserves a thorough analysis. Compare Aspire with the DBS Business Account, OCBC Business Account, UOB Corporate Account, and Maybank Business Account.

Aspire Business Account

DBS Business Digital Account

OCBC Business Growth Account

UOB Business SGD Current Account

Maybank FlexiBiz Account

ACCOUNT

Monthly Fees

Minimum Deposit

Minimum Balance

Fall-Below Fees

LOCAL TRANSFERS

FAST Transfer Fee

Standing Instruction

FOREIGN TRANSFERS*

Outbound

FX Rate

Transfer Fee

Inbound

FX Rate

Transfer Fee

Processing Fee

Inbound Fee

CARDS

Card Type

Cashback

FX Fees*

FX Markup (on visa rates)

ACCOUNT FEATURES

Payment Acceptance

Customer Support

What are the important factors to consider when choosing a business account?

We highlight the top factors business owners consider when choosing their business account.

Compare business accounts pricing

Price is often the main criterion when comparing business bank accounts. Banks or neobanks' pricing can vary by a factor of two. Business owners should also pay attention to the pricing structure and to the potential hidden costs (such as interchange fees or turnover commissions).

Study accessibility and integration options

What are the banking solutions offered

Entrepreneurs should consider their financial needs through the various company development stages. Some financial institutions also offer other services that an entrepreneur might want to take into account, such as business insurances, credit, or cards.

Quality of customer service

Do business with confidence

Authenticated

Security is at our core

Customer service is our priority

Get started today

Easy, fast, transparent. Aspire gives over 10,000 business owners their money and time back.

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Business banking doesn't have to be hard. At Aspire, we've made it easy, fast, and transparent. So you can focus on what matters — growing your business.

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