CIMB USD Interest Plus current account in 2026

Rating

Overall rating: 3.9/5

Methodology

Our evaluation of the CIMB USD Interest Plus Current Account is based on a clear and transparent rating framework designed to provide an objective overview of its overall quality and performance.

Arithmetic mean approach

To arrive at the final score, we calculate the arithmetic mean, which involves adding up individual category scores and dividing the result by the total number of categories.

Equal weighting

Each category (Features, Pricing and FX, Global payments, Ease of onboarding, and Support and ecosystem) is assigned equal importance, ensuring a balanced and unbiased final score.

Data sources

Our ratings are based on official documentation, publicly available pricing and feature details, third-party reviews, and verified user feedback.

Interpretation caveat

While this method provides a fair and objective benchmark, it does not reflect individual business priorities.

Intended use

The resulting score is designed as a general performance indicator, useful for making comparisons and informing decision-making. It should be considered alongside your specific business needs and priorities.

The table below breaks down the reasoning behind each pillar score.

Features of the CIMB USD Interest Plus Current Account

The CIMB USD Interest Plus Current Account combines the flexibility of a current account with the ability to earn interest on USD balances. Below, we break down the account's key features, fees, and benefits.

Interest-bearing USD current account

The account earns interest on USD balances based on a tiered structure. Under the standard base rate, balances of USD $30,000 and below earn 0% p.a., while balances above USD $30,000 earn 0.28% p.a. For new customers who open the account by 30 November 2026, a promotional rate of 1.68% p.a. applies from the first dollar on balances up to USD $1 million. The promotion is valid until 31 December 2026. Interest is accorded based on the deposit amount held in the account.

Minimum balance and fee waiver during promotion

The standard minimum monthly average balance is USD $8,000 and the monthly fall-below fee is USD $35. Both these fees are waived for new customers who open the account between 1 June 2026 and 30 November 2026. This means businesses can open the account and start earning interest without committing USD $8,000 minimum balance during the promotion period.

Online banking via BizChannel@CIMB

The account is managed digitally through BizChannel@CIMB, available on web and mobile apps, which allows account holders to manage regional business accounts on the go, with secure access to balances, payments, and transaction monitoring. New customers receive their first 3 security tokens free and complimentary access to video tutorials on BizChannel@CIMB usage.

Complimentary statements

Monthly statements are provided at no extra cost, supporting easier reconciliation of account activity.

Virtual Account (VA)

Each payer or payee can be assigned a dedicated Virtual Account number to simplify reconciliation of incoming and outgoing transactions. This is useful for businesses managing a high volume of collections or payments to multiple parties.

Competitive SGD-MYR and SGD-IDR FX rate

Businesses transferring funds to accounts in Malaysia or Indonesia benefit from CIMB's competitive FX rate on SGD-MYR and SGD-IDR transactions, useful for companies with regular cross-border activity in those markets.

CIMB@Work benefits

Eligible businesses and their employees can access exclusive benefits on selected salary accounts, credit cards, and personal loans through the CIMB@Work programme.

CIMB USD Interest Plus Current Account fees and charges

The table below summarises the verified fees and charges.

Documents required for CIMB USD Interest Plus Current Account

CIMB publishes a detailed document checklist for opening a CIMB USD Interest Plus Current Account. Requirements vary by business structure.

For Private Limited or Public Company:

1. Certified true copies of Memorandum and Articles of Association or Constitution
2. NRIC (for Singapore Citizens and residents) or Passport copy (for non-citizens), plus specimen signatures of:

• All directors
• All authorised signatories
• All controlling persons (if applicable)
• All Ultimate Beneficial Owners
• All approving persons

1. Image with NRIC for all NRIC submitted above

For Sole Proprietorship:

1. NRIC/Passport copy and specimen signatures of all authorised signatories, all owners for sole proprietor, and all approving persons
2. Image with NRIC for all NRIC submitted above

For Partnership:

1. Certified true copy of the Partnership agreement
2. NRIC/Passport copy and specimen signatures of all authorised signatories, all partners, and all approving persons
3. Image with NRIC for all NRIC submitted above

Who the CIMB USD Interest Plus Current Account works best for

The account is built around USD-denominated banking with interest-earning potential on idle balances. Whether it fits your business depends on your USD cash position and operating needs.

It works well for:

• Singapore-registered businesses that regularly maintain USD balances above USD $30,000 and want to earn interest on idle USD funds
• Exporters, importers, or businesses with USD-denominated revenue or expenses
• Companies operating across the Singapore-Malaysia or Singapore-Indonesia corridors that benefit from the competitive exchange rate on SGD-MYR and SGD-IDR transfers
• Businesses already considering CIMB for broader business banking services
• New businesses looking for a USD account with a relatively low minimum balance during the promotional waiver period

It is less suitable for:

• Businesses that need multi-currency support within a single account, as the account is USD only
• Companies that cannot consistently maintain USD $8,000 after the promotional period ends, as the USD $35 fall-below fee will recur monthly
• Businesses that need built-in expense management tools, accounting software integrations, or multi-currency corporate cards as part of their banking setup
• Businesses concerned about deposit insurance coverage on foreign currency balances, as USD deposits are not insured by SDIC

Pros and cons of the CIMB USD Interest Plus Current Account

The account's strongest points are tied to USD-specific operations and the promotional benefits. Here is how the benefits and limitations balance out.

Ratings across platforms

The ratings below are as of June 2026 for CIMB Clicks Singapore, the main app CIMB account holders use for day-to-day banking.

• App Store (iOS): Rated 4.7 out of 5, with users highlighting how easy the app is to navigate and how smooth the account application process is.
• Google Play: Rated 3.2 out of 5. Users like the redesigned interface and biometric login, though some have run into issues with new device verification delays and security holds.

CIMB USD Interest Plus Current Account vs competitors in Singapore

The CIMB USD Interest Plus Current Account is one of the few USD business current accounts in Singapore that earns interest on idle balances. Here's how it stacks up against the most commonly considered alternatives.

Other alternatives to CIMB USD Interest Plus Current Account

Beyond the comparison table above, here is a closer look at each alternative and what makes it worth considering.

• Standard Chartered BusinessOne Account: This is a non-interest-bearing current account available in either SGD or USD, with a minimum balance of SGD $50,000 or USD $50,000 and a SGD $50 or USD $50 fall-below fee. If you want a USD current account from a global bank and interest earning isn’t a priority, BusinessOne is a good alternative.
• UOB Global Currency Account: UOB supports 10 currencies including USD, with per-currency minimum balances and fall-below fees. It currently earns interest at varying rates depending on the currency and includes trade finance access. If you need USD alongside other major currencies within a traditional bank setup, UOB is a relevant option.
• DBS Business Multi-Currency Account: DBS supports 13 currencies in one account. If your business is under 3 years old, the Starter Bundle has no minimum balance and unlimited free FAST and GIRO transfers at SGD $10 a month. The Standard tier runs between SGD $10 and SGD $40 a month. It also connects with Xero, QuickBooks, and Financio, making it a strong option.
• Wise Business Account: Wise supports 40+ currencies at the mid-market rate, with the fee shown to you before every transaction goes through. There's a one-time SGD $99 setup fee and no recurring monthly charges after that.

Conclusion

The CIMB USD Interest Plus Current Account is best suited for businesses that regularly hold high USD balances and want to earn a return on idle funds while maintaining full access to their cash. Under its standard pricing structure, interest is only paid on balances above USD $30,000, and businesses must maintain a minimum monthly average balance of USD $8,000 to avoid fall-below fees.

The current promotion significantly improves the account's value proposition by offering 1.68% p.a. on balances up to USD $1 million from the first dollar, while also waiving the minimum balance requirement and fall-below fee until 31 December 2026. For businesses with substantial USD cash holdings, this can translate into meaningful short-term returns. However, as the promotional benefits are temporary, businesses should evaluate the account based on its long-term base rates and fee structure before deciding if it fits their needs.

Aspire takes a different approach with 30+ currencies, no minimum balance or fall-below fee, built-in expense management, multi-currency corporate cards, and direct integrations with Xero, QuickBooks, and NetSuite. For businesses that need broader financial infrastructure rather than interest on a single-currency balance, comparing both is worthwhile.

FAQs

Can I receive USD payments directly into the account?

Yes. Businesses can receive USD payments directly into the CIMB USD Interest Plus Current Account. Incoming USD funds, including telegraphic transfers, are credited to the account without the need for currency conversion, allowing businesses to hold and transact in USD.

Are foreign currency deposits insured in Singapore?

No. Foreign currency deposits, including USD, are not covered by the Singapore Deposit Insurance Corporation (SDIC). SDIC only insures Singapore dollar deposits of non-bank depositors, up to SGD $100,000 in aggregate per depositor per scheme member.

Is the account suitable for exporters?

The CIMB USD Interest Plus Current Account is best suited for businesses that regularly receive and hold USD funds. Exporters, international traders, and companies with USD-denominated revenues can earn interest on idle balances while avoiding unnecessary currency conversions. The Virtual Account feature helps simplify payment reconciliation, particularly for businesses receiving payments from multiple customers.

What are the charges for USD cheque deposits?

For USD cheque clearing and deposit, the local cheque processing fee is USD $1 per cheque (applicable since 1 January 2024 for all SGD-denominated and local USD-denominated corporate cheque clearing and depositing). Inward returned cheque charges in foreign currency are waived. Outward returned cheque fees apply at USD $20 per cheque (insufficient funds) or USD $15 per cheque (other reasons).

What is BizChannel@CIMB?

BizChannel@CIMB is CIMB's digital banking platform for business customers, available on both web and mobile. It handles payment initiation, account monitoring, and cash management. New CIMB USD Interest Plus Current Account holders get their first 3 security tokens free.