Business account fees in Singapore

General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.

In Singapore the headline fee is rarely the whole cost. The local banks tend to charge a monthly or annual fee, or a fall below fee when your balance drops under a minimum, while neobanks often start with no monthly fee but charge per transaction and for currency conversion. The figures below are as of 17 April 2026 and come from the providers. Fees change, so confirm the current schedule before you apply.

How business account fees work in Singapore

There are three cost patterns to watch. The first is a flat monthly or annual account fee. The second is a fall below fee, charged when your balance drops under a stated minimum. The third is the per use cost of running the account, such as local and international transfers, currency conversion, and cards. A low monthly fee can still be expensive if your balance triggers a fall below charge or your transfers are costly.

The local banks

As of 17 April 2026, the DBS Starter bundle, aimed at companies incorporated within the last three years, carries a flat fee of about SGD 10 a month with no minimum balance, after which accounts move to a standard tier with higher charges. The OCBC Business Growth Account charges about SGD 10 a month, with no monthly fee for the first two months and no fall below fee as long as the balance stays at SGD 1,000 or more. The OCBC Business Entrepreneur Account Plus has no fixed monthly fee but expects a balance of at least SGD 30,000, with a SGD 50 fall below fee under that level. The UOB eBusiness Account carries an annual fee of about SGD 35 with a fall below waiver in the first year, then a minimum average daily balance of about SGD 5,000. Confirm each figure with the bank.

The neobanks

Neobanks compete on no monthly fee entry plans. As of 17 April 2026 the Aspire Basic plan has no monthly fee and no minimum balance, Wise Business has no monthly fee with a one time fee of about SGD 99 to enable local account details across currencies, and Airwallex has no monthly fee on its account. With these you still pay for transactions and currency conversion, so the real cost depends on how you use the account. Confirm the current pricing with the provider.

Goods and services tax on fees

Goods and services tax in Singapore is 9 percent as of 17 April 2026 and can apply to certain bank charges. Whether a quoted fee already includes GST depends on the provider and the charge, so read the fee schedule and confirm with the provider.

Compare business accounts available in Singapore

These providers serve business customers in Singapore. Fees and eligibility shown as of 17 April 2026. Confirm current terms with the provider before applying.

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Questions about business account fees in Singapore

What does a business account cost in Singapore?

At the local banks you usually pay either a monthly fee or a fall below fee if your balance drops under a set minimum. As of 17 April 2026, the DBS Starter bundle is about SGD 10 a month with no minimum balance, OCBC Business Growth charges about SGD 10 a month with no fall below fee while the balance stays at SGD 1,000 or more, and UOB eBusiness has an annual fee with a minimum average balance after the first year. Several neobanks start with no monthly fee. Confirm current pricing with the provider.

What is a fall below fee?

A fall below fee is a charge applied when your average or daily balance drops under the minimum the account requires. For example, as of 17 April 2026 the OCBC Business Entrepreneur Account Plus applies a SGD 50 fall below fee when the balance falls under SGD 30,000. Confirm the current minimum and fee with the provider.

Are there business accounts in Singapore with no monthly fee?

Yes. As of 17 April 2026 neobanks such as Aspire, Wise, and Airwallex offer an entry plan with no monthly fee, though you still pay for transactions and currency conversion, and Wise charges a one time fee to enable local account details. Confirm the current pricing with the provider.

Do fees include GST in Singapore?

Goods and services tax in Singapore is 9 percent as of 17 April 2026 and may apply to certain bank charges. Whether a quoted fee includes GST depends on the provider, so check the fee schedule and confirm with the provider.

Fees, features, and eligibility change and vary by region. This page was last reviewed on 17 April 2026. Confirm current terms with the provider before applying.