Multi currency accounts in Singapore

What a multi currency account does

A multi currency account holds balances in more than one currency at once and lets you convert between them when you choose, rather than forcing every payment through Singapore dollars. For a firm that buys from suppliers abroad or sells to overseas customers, this can cut the number of conversions and let you hold a currency until the rate suits. The headline monthly fee is rarely the main cost. The foreign exchange markup applied on each conversion usually matters more, since it scales with the amount you convert. As of 11 October 2026.

Multi currency accounts from neobanks

Wise Business charges a one time setup fee of 99 Singapore dollars for account details in 22 currencies, then holds 40 or more currencies on a pay per use basis, with conversion fees from 0.19 percent. Airwallex can hold 20 or more currencies and opens local receiving accounts in several markets, with free local transfers and a foreign exchange markup of 0.4 percent above interbank rates for major currencies and 0.6 percent for others. Aspire holds eight currencies, includes local transfers, and prices conversion from 0.46 percent on its Basic plan, while its Premium plan converts the first 13,000 Singapore dollars a month at no fee. These providers are payment service firms rather than full banks, so funds are safeguarded or held at partner banks rather than covered by the SDIC deposit insurance scheme. As of 11 October 2026. Confirm the currencies and the markup with each provider.

Multi currency accounts from local banks

DBS, OCBC, and UOB list multi currency accounts that hold a range of currencies alongside a full branch, cash, and lending service. These accounts can carry a monthly fee or a minimum balance, and the foreign exchange and SWIFT pricing is often quoted on request rather than published in full. They suit businesses that want a local bank relationship and lending as well as multi currency holding. As of 11 October 2026. Verify the currencies, the markup, and the fees with each bank.

What to check on a multi currency account

The right account depends on these points more than the monthly fee. Amounts vary by provider. Verify with the provider

• The list of currencies you can hold, and which ones come with local account details for receiving.
• The foreign exchange markup on conversion, since it usually drives the real cost.
• Any SWIFT charge on international wires, and how customer funds are held and protected.

How to compare multi currency accounts

1. List the currencies you actually receive and pay in, and how much you convert each month.
2. Compare the foreign exchange markup and any SWIFT charge across providers, not just the monthly fee.
3. Confirm the currencies, the markup, and how your money is held with each provider before you open or fund the account.