Compare
Aspire Business Account vs DBS Business Multi-Currency Account
Aspire is purpose-built for startups, SMEs, and mid-sized companies that want banking, cards, and payments consolidated in one place. DBS Business Multi-Currency Account is a flagship SME product from Singapore's largest bank, built around the DBS Ideal platform. Here's how they compare.
About Aspire
Aspire Business Account is a Multi-Currency Business Account offered by Aspire, who operates as a Payment Services Institution in Singapore.
About DBS
DBS Business Multi-Currency Account is a Multi-Currency Business Account offered by DBS, who operates as a Local Bank in Singapore.
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 |
Business account
Pricing and fees
Global coverage
Integrations and ecosystem
Support*Fees may vary, Comparison as of July 2026
Trusted by 50,000+ modern businesses
4.5 rating
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.
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.
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.
Run your finances from one place
Open a multi-currency business account with no monthly fee, built-in invoicing, and real-time expense tracking.
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.”
Saved per year
Saved per year
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.”
Saved per year
Saved per year
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.”
Saved per year
Saved per year
Start your journey with Aspire
Open your free account