Aspire Business Account vs DBS Business Multi-Currency Account

Aspire Business Account vs DBS Business Multi-Currency Account key differences

Here's a side-by-side comparison of both accounts to highlight key differences and help you choose the best business account for your needs.

	Payment Services Institution	Local Bank
Business account
Account type	Multi-Currency Business Account	Multi-Currency Business Account
Payment rails	Domestic: FAST, GIRO, MEPS, PayNow, Local TT International: ACH, SEPA, SWIFT, FPS	Domestic: FAST, GIRO International: Telegraphic Transfer (SWIFT)
Local collection accounts	8 currencies (SGD, USD, EUR, GBP, MYR, PHP, IDR, VND)	13 currencies (SGD, USD, JPY, HKD, EUR, AUD, CAD, CHF, CNH, GBP, NOK, NZD, SEK)
Batch payments	Supports in SGD, INR, USD, IDR, MYR, EUR, PHP, AUD, THB, VND	Supports in SGD via DBS Ideal
API	Yes	Yes
Expense management	Offered natively for free; full expense management: corporate cards, real-time spend tracking, approval workflows, employee claims & reimbursements, budget management, receipt upload, accounting integration	Basic monitoring only; transaction reporting and cash flow dashboards; via DBS Ideal
Invoicing	Offered natively	Offered via DBS Ideal (InvoiceNow)
Pricing and fees
Monthly fee	No monthly fee (Basic plan) / SGD $15 (Premium plan)	SGD $40
Account set up fee	No account setup fee	Local Companies: Free Foreign Companies: SGD $2,500
Minimum balance	No minimum balance required	Minimum balance: SGD $10,000 avg daily balance Fall below fee: SGD $40/month
Local transfer fee (sending)	PayNow, FAST, Recurring/ Scheduled Transfers, Local TT: Free	FAST and GIRO: Free for 50 first transactions
International transfer fee (sending)	SWIFT: USD $15 (SHA), USD $30 (OUR)	TT: SGD $30 (excluding agent bank fees)
Receiving payments fee	Local Receive: Free International Receive: SGD $35 for SGD account / USD $8 for other accounts via SWIFT	Local Receive: Free International Receive: standard inward TT fee (agent bank fee)
FX markup	From 0.22%	Not publicly disclosed
Global coverage
Supported currencies	30+ currencies: SGD, USD, EUR, GBP, AUD, CAD, HKD, JPY, INR, IDR + 20 currencies more	13 currencies: SGD, USD, EUR, GBP, HKD, JPY, AUD, NZD, CAD, CHF + 3 currencies more
Global payment network	130+ countries	19+ countries
Integrations and ecosystem
Integration with third-party apps	30+ integrations. Key apps: Amazon, Apple Pay, Xero, Info-Tech, Stripe	20+ integrations. Key apps: Xero, Quickbooks, Financio, SAP
Accounting software integrations	Integrates with 10+ softwares. Direct integration with Xero and Quickbooks	Integrates with 4 softwares. Direct integration with Xero, Quickbooks, Financio
E-commerce integration	Yes, with Shopify, Temu, Shopee, Amazon	No
ERP Integration	Yes	Yes
Support
Customer support	In-app live chat; email	Chatbot; live chat; phone hotline; branch; digital banking

*Fees may vary, Comparison as of July 2026

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3 reasons why Aspire is better

Aspire is built to be your primary business account, helping you save more, earn more, and move faster in your day-to-day operations. Here's how Aspire stands out.

Fees, free account and no minimum balance illustration

Start for free: no account setup costs and no monthly charges

Aspire charges nothing to open an account and nothing each month on the Basic plan, making it genuinely accessible for early-stage businesses managing every cost carefully. DBS Business Multi-Currency Account charges a monthly fee and requires a significant minimum balance, costs that add up quickly for lean, growing teams. Aspire keeps your capital working for your business, not paying bank charges.

Predictable FX costs

Where many business accounts bury their FX pricing in non-disclosed spreads, Aspire states its markup upfront starting from 0.22%, making international payment costs predictable. DBS Business Multi-Currency Account does not publicly disclose its FX rates, making it harder to plan and compare the true cost of international payments. For businesses with high payment volumes, knowing the exact FX markup lets you calculate and compare the true cost of each transfer, rather than discovering it after the fact.

Expense management and corporate cards illustration

Approval workflows and employee claims

Aspire's expense suite handles employee reimbursement requests, approval chains, and expense reporting natively, removing the need for a standalone expense management product. As your team grows, keeping expense management and banking on the same platform scales naturally: issue more cards, add approval tiers, and maintain visibility without managing a separate tool.

How Aspire works

Aspire brings together the security of traditional banking with the innovation of modern fintech to create the future of business finance. Here's what makes our platform uniquely powerful:

Trusted banking foundation

Your money is safeguarded in Tier 1 banks like DBS Singapore, and backed by partnerships with Citibank, JPMorgan, and Visa. Get the security of traditional banking with the speed of modern fintech - all fully compliant with MAS regulations.

Seamless global payments

Send and receive payments in 30+ currencies across 130+ countries at market-leading rates. Our transparent fee structure means no surprises, while smart workflows streamline your operations from payroll to revenue collection.

AI-powered financial control

Take charge with intelligent tools built for modern business. From multi-level approvals to real-time fraud detection, automated reconciliation to comprehensive integrations - work smarter, not harder.

Frequently asked questions about Aspire Business Account vs DBS Business Multi-Currency Account

Businesses that want to move faster than traditional banking allows should choose Aspire over DBS Business Multi-Currency Account. Specifically, growing startups and SMEs will benefit from Aspire's no minimum balance requirements or setup fees, full built-in expense management and corporate cards, and 30+ integrations with tools like Xero, Shopify, and Stripe. If your team is scaling quickly and needs a platform that grows with you rather than a bank account that slows you down. Aspire is the natural choice. <div

DBS accounts suit established businesses that need the backing of Singapore's largest bank, particularly those seeking trade financing, structured credit facilities, or enterprise treasury services that fintech platforms don't offer. Companies with complex regulatory or compliance requirements that benefit from a full banking relationship will find DBS's breadth valuable. If your business needs a bank that can also provide loans, guarantees, and advisory services alongside your operating account, DBS is a natural anchor. <div

DBS Business Multi-Currency Account comes with Singapore's largest bank behind it, but at SGD $40 per month, a SGD $10,000 minimum daily balance, and free local transfers capped at 50 per month, it is one of the most expensive accounts in this comparison. Aspire has no monthly fee, no minimum balance, local collection accounts in 8 currencies, and no cap on free FAST and PayNow transfers. For businesses prioritising operational efficiency, Aspire is the substantially leaner choice. DBS's institutional depth in credit, trade finance, and procurement credibility is where it earns its cost. <div

Aspire offers significantly better value for growth-stage businesses. DBS carries a monthly fee, a minimum balance requirement, and a cap on free local transfers, all of which add up quickly for businesses without a structured banking need at DBS. Aspire has none of those cost lines. For businesses prioritising lean operating costs, Aspire is the more economical choice at every stage of growth. DBS delivers value for businesses where its institutional credibility, trade finance, or credit facilities are actively used.

Hear it first from our customers

Gregory Van
CEO of Endowus
“As a startup, we needed more flexible solutions to support our increasing needs, as well as ones that’d make the most financial sense in supporting our growth.”
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Saved per year
$111,000
Saved per year
900hr
Holly Qian
Head of Finance at First Page
“By leveraging Aspire, First Page aimed to establish tighter control over our financial outflows, ensuring that all media spending stayed within the allocated budget limits. This was crucial for maintaining financial discipline and ensuring that our company’s marketing efforts were both effective and sustainable.”
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Saved per year
$80,405
Saved per year
2,834hrs
William Chong
Finance Director at Glints
“In the past, we used different devices for calls, music, and work. Just like smartphones brought everything together, Aspire elegantly combines corporate cards, FX, business accounts, payables, and much more, into one user-friendly interface.”
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Saved per year
$28,037
Saved per year
860hrs