Multi-currency business accounts in Singapore are not all built the same way. Some banks offer one business account that can hold Singapore dollars and multiple foreign currencies, while others provide separate foreign currency current accounts for USD, AUD, GBP, HKD or other currencies. For 2026 planning, businesses should compare currency coverage, minimum balance rules, online application paths, transfer tools, FX pricing, cheque access and deposit insurance limits before opening or switching an account.
Multi-Currency
SME Accounts
Singapore 2026
Receiving, holding, converting and paying in foreign currencies
Multi-currency business account, foreign currency current account, global wallet
USD, EUR, GBP, AUD, JPY, HKD, CNH, CAD, NZD and others by bank
Official bank product page, pricing guide and account terms
Multi-Currency Business Account Comparison
The table below compares public bank options that Singapore businesses may review for foreign currency transactions. Product names, supported currencies, pricing and eligibility rules can change, so use this as a structured research page and confirm the live terms before applying. Businesses comparing account setup costs may also want to review account opening documents and the difference between online and branch applications.
| Bank | Account / Product | Currency Count | Currency Notes | Minimum / Balance | Best Fit | Official Check |
|---|---|---|---|---|---|---|
| DBS | DBS Business Multi-Currency Account | 13 | SGD plus 12 foreign currencies listed by DBS, including USD, EUR, GBP, JPY, HKD, AUD, CAD, CHF, CNH, NOK, NZD and SEK. | Check the DBS account fee table and starter bundle rules. | Singapore-incorporated SMEs that want one main operating account with local FAST, GIRO and foreign currency capability. | DBS product page |
| OCBC | OCBC Multi-Currency Business Account | 13 | OCBC states that the account enables up to 13 major foreign currencies, including USD, EUR, AUD, JPY, GBP, CNH, HKD, CAD, NZD, CHF, SEK, DKK and NOK. | OCBC states no initial deposit, no set-up fee and no fall-below fee on the product page. | Businesses that want a low-friction foreign currency add-on within OCBC business banking and OCBC Velocity. | OCBC product page |
| UOB | UOB Corporate Global Currency Account | 10 | UOB publishes non-individual Global Currency Account rate entries for AUD, GBP, CAD, NZD, CNH, USD, HKD, JPY, EUR and CHF. | Check UOB account terms, rates and service fees before applying. | Companies that already use UOB for corporate banking, trade, treasury or regional supplier payments. | UOB product page |
| HSBC | HSBC Global Wallet | 10 | HSBC states that businesses can hold AUD, CAD, CHF, CNY, EUR, GBP, HKD, JPY, SGD and USD in one place. | HSBC states no fall-below account fees for Global Wallet; check package pricing and payment fees. | SMEs with regular cross-border payments that need HSBCnet, local-like payments and selected local receiving accounts. | HSBC Global Wallet |
| Standard Chartered | BusinessOne USD and Non-USD Foreign Currency Accounts | 5 | Standard Chartered publishes USD BusinessOne access and non-USD foreign currency accounts in AUD, GBP, HKD and NZD. | Public pages state US$30,000 for BusinessOne USD and US$10,000 equivalent for non-USD foreign currency accounts. | Businesses that can meet higher balance requirements and want a relationship-led business banking setup. | SC foreign currency account |
| Maybank | Maybank Foreign Currency Current Account | 8 | Maybank lists USD, EUR, GBP, AUD, NZD, CAD, HKD and JPY for its business foreign currency current account. | Maybank publishes a minimum initial deposit of USD1,000 or equivalent on its business deposits page. | Businesses that need traditional foreign currency current account features, including USD cheque access where applicable. | Maybank product page |
| CIMB | CIMB Foreign Currency Current Account | 7 | CIMB states that the account is available in major currencies such as AUD, CAD, CNH, GBP, HKD, NZD and USD. | Check CIMB’s current account documents and pricing pages for live fees and balance rules. | Businesses that use CIMB BizChannel and want a foreign currency current account with digital access. | CIMB product page |
No matching rows found.
Currency Coverage by Public Product Pages
Currency count should not be read as the only selection point. A smaller currency list may still work well if the business mainly invoices in USD or GBP, while a wider list may matter for companies paying suppliers across Europe, Japan, Hong Kong, Australia or Greater China.
The chart uses currency counts visible on public product pages reviewed on 8 July 2026. A bank may support additional payment currencies through treasury, trade finance, telegraphic transfer or relationship-managed services that are not the same as a public multi-currency deposit account.
Which Account Type Fits Which Business Need
Daily SGD and Foreign Currency Operations
DBS and OCBC are often practical starting points for Singapore-incorporated SMEs that want local SGD payments plus foreign currency holding in a single banking relationship. Check FAST, GIRO, PayNow Corporate and telegraphic transfer pricing before choosing. The operational payment layer also connects with FAST transfers in Singapore.
Regional Supplier Payments
HSBC Global Wallet, UOB corporate accounts and Standard Chartered business accounts may suit businesses that need wider cross-border payment support, business internet banking and relationship-managed services. Compare payment cut-off times, beneficiary charges and FX spreads.
Traditional Foreign Currency Current Account
Maybank and CIMB provide foreign currency current account options that may suit businesses holding specific currencies rather than one broad wallet. Check cheque rules, counter transactions, online transfer access and any fall-below fees.
Fees and Balance Rules to Check
Do not compare these accounts only by the number of currencies. For a business that receives USD invoices, pays suppliers in EUR and keeps SGD payroll cash, the real cost often sits in account maintenance, transfer charges, FX spread, intermediary bank fees and document handling.
| Cost Item | What to Check | Why It Matters |
|---|---|---|
| Monthly service fee | Whether the fee is waived, conditional or charged per account. | A low-use foreign currency account can become costly if the monthly fee is fixed. |
| Fall-below fee | Minimum average balance and the fee if the balance falls short. | Higher balance rules may not suit a small exporter or new company. |
| Telegraphic transfer fee | Outgoing TT charge, cable charge, agent bank fee and receiving bank deductions. | The visible bank fee may not be the full transfer cost. Review international transfer fees before sending larger payments. |
| FX conversion spread | Live board rate, quoted business rate, preferential rate and any weekend or off-market pricing. | A small spread difference can matter when invoices are repeated every month. |
Published fees, campaign waivers, debit card FX terms and account balance rules can change. Confirm the current pricing guide, account terms and product factsheet on the official bank website before opening an account or moving operating funds.
Application Requirements for Singapore Businesses
Most banks ask for company and controller information before opening a business account. Online application may be faster when the entity is Singapore-registered, the directors and authorised persons meet digital verification rules, and the bank can retrieve corporate data through approved government data channels.
Digital Application Checks
- Singapore UEN and live business registration status
- Corppass or Singpass access where required
- Director, shareholder and authorised signatory details
- Business activity, source of funds and expected transaction countries
- Supporting documents requested by the bank’s onboarding team
Branch or Relationship Manager Checks
- Board resolution or account opening mandate where required
- Company constitution or equivalent corporate document
- NRIC or passport copies for relevant persons
- Expected foreign currency use and payment purpose
- Trade, supplier or invoice documents if the bank asks for more review
Eligibility is not automatic. Banks may request more documents depending on ownership structure, business activity, overseas links, transaction size or account purpose. Businesses preparing a new operating account can also compare bank and branch codes if they expect frequent local transfers.
How Multi-Currency Accounts Are Used
Receive foreign currency from overseas customers into a supported currency account or wallet, where available. Check whether the receiving currency has local account details or requires SWIFT details.
Keep balances in the original invoice currency if the business expects future supplier payments in the same currency. This may reduce repeated conversion, but does not remove FX risk.
Convert to SGD or another supported currency through the bank’s online FX tool, branch channel or relationship manager. Compare quoted rates and timing.
Pay local or overseas suppliers through FAST, GIRO, PayNow Corporate, SWIFT or bank-specific business payment tools, depending on the destination and currency. PayNow users can review PayNow UEN linking for local business collections.
Bank Accounts and Non-Bank FX Alternatives
Singapore businesses sometimes compare bank multi-currency accounts with payment institutions for foreign currency receipts, cards or supplier transfers. The comparison should separate three issues: deposit account status, payment licence status and deposit insurance. A lower transfer fee does not automatically make one option better for every treasury or compliance need.
Bank Deposit Account
A bank account may support wider business banking needs such as local payments, cheque services, trade finance, credit assessment and relationship-managed cash management. SGD deposits may fall within SDIC rules if the bank is a Scheme member and the deposit type qualifies.
Payment Institution Account
A payment account may focus on FX conversion, cards, virtual accounts or international transfers. It may not be a bank deposit account. Check MAS licence type, safeguarding approach and product terms before holding business funds.
FX Comparison Point
Businesses comparing banks with fintech providers should test real invoice examples, including FX spread, transfer fees, receiving fees, beneficiary charges and cut-off times. A separate comparison is available for banks and FX apps.
Deposit Insurance and Foreign Currency Balances
The Singapore Deposit Insurance Corporation states that insured deposits are aggregated and insured up to S$100,000 per depositor per Scheme member, while foreign currency deposits are not covered under the Deposit Insurance Scheme. This distinction matters for multi-currency business accounts because SGD balances and foreign currency balances may be treated differently for coverage purposes.
For deposit protection checks, use the official SDIC website and the bank’s own deposit insurance register. For bank licence checks, use the MAS financial institution directory.
Business Selection Checklist
| Business Profile | Account Feature to Prioritise | Questions to Ask the Bank |
|---|---|---|
| New Singapore company | Online onboarding, low initial deposit, local payment access | Can the company apply online, and are all owners eligible for digital verification? |
| Exporter receiving USD or EUR | Foreign currency receipts, SWIFT details, FX conversion tools | What receiving fees, correspondent deductions and conversion spreads apply? |
| Retail or e-commerce business | Debit card, payment gateway compatibility, account feeds | Can card spend, accounting exports and platform payouts be managed cleanly? |
| Regional supplier payer | Payment cut-off times, beneficiary countries, bulk payments | Which currencies can be paid locally, and which require SWIFT routing? |
Verification Notes
Product details on this page were checked against public pages from DBS, OCBC, UOB, HSBC, Standard Chartered, Maybank and CIMB, plus deposit insurance references from SDIC. Banks may update account fees, currency lists, promotional waivers, minimum balances, FX tools, application rules and payment charges without changing every public snippet at the same time.
Before applying, confirm the official product page, the bank’s pricing guide, the account terms and any service notice. For international payments, verify the beneficiary name, bank name, SWIFT or BIC, account number, bank code, branch code and currency before sending funds. The bank’s official channel should be the final source for transfer details.
FAQ
Which Singapore bank has the most currencies for a business account?
Based on public product pages reviewed on 8 July 2026, DBS and OCBC both publish business multi-currency account options with 13 currencies. Currency count alone is not enough; compare minimum balance, transfer fees, FX spread and payment tools.
Are foreign currency business deposits insured in Singapore?
SDIC states that foreign currency deposits are not covered under Singapore’s Deposit Insurance Scheme. SGD deposits may be insured up to the applicable limit if the bank is a Scheme member and the deposit type qualifies.
Can a new Singapore company open a multi-currency business account online?
Some banks support online business account opening for eligible Singapore-incorporated companies, especially when ownership and authorised signatory details can be verified digitally. Eligibility differs by bank, ownership structure and business activity.
Is a multi-currency account cheaper than converting every payment to SGD?
It can be cheaper for businesses that receive and pay in the same foreign currency, but it depends on transfer fees, FX spread, account fees and the timing of conversions. Use real invoice amounts when comparing banks.
Do business multi-currency accounts use SWIFT codes?
International receipts and payments often use SWIFT or BIC details, but local SGD transfers may use FAST, GIRO or PayNow Corporate. Check the bank’s instructions for each currency and destination, and review the major Singapore SWIFT codes when setting up overseas transfers.
