11 Best Digital Banks in Singapore To Open Remotely
Looking for the best digital banks in Singapore to create business accounts in 2025? You also want to pay attention to whether you can open your bank account in Singapore remotely. Check out this comprehensive guide featuring the top 11 options, including Anext Bank, Green Link Digital Bank, Aspire, Fazz, Currenxie, Airwallex, YouBiz, Wallex, WorldFirst, Payoneer and Wise. With getting a bank account becoming more complicated, it’s important to choose a reliable and efficient option that meets your business needs. Find out more in this guide!
Nowadays, the rapid development of digital technologies has a significant impact on all areas of our life and business. Financial sector services, which were also affected by digitalization, do not stand aside. The traditional banking system is increasingly being replaced by a new breed of digital banks, which are often more convenient and better equipped technically. They can provide faster, cheaper and better services than many brick and mortar financial service providers. Also, digital banks in Singapore normally allow you to open a bank account remotely.
Why the Digital Banks in Singapore Are Gaining Popularity for Remote Business Banking
Opening a corporate account with traditional banks has become more challenging, especially for start-ups. Gone are the days when banks approved accounts simply because a company applied.
Today, needing a bank account to run a business is no longer enough. Accounts are now regarded as a privilege, not a right.
Regulators have introduced more rules, and banks now prefer to be very cautious. These rules are often vague, causing many companies to get caught in unclear policies.
Singaporean banks are no exception. Opening and maintaining accounts has become more complex.
There are also many technical requirements, such as high initial deposits, account opening fees, and requests for past transaction history.
Meanwhile, financial technology is rapidly evolving. More FinTech companies now offer fast, convenient, and low-cost services, including remote account opening in Singapore. These providers can onboard businesses from around the world.
Neo-banks, payment systems, and digital banks in Singapore form a new class of online-first financial institutions. They don’t require branches or human tellers, helping to keep costs low. Remote account opening is usually free.
The Singapore government actively promotes this development. Currently, 206 Major Payment Institution Licences have been issued, representing a 20 percent increase from last year.
These licences enable FinTechs to open accounts, send international payments, and exchange currencies. The Monetary Authority of Singapore (MAS) has also issued full and wholesale digital banks in Singapore licences, which are already operational.
However, online banks and payment systems are still unfamiliar to some businesses. Consequently, this sector has not yet reached its full potential.
Each provider offers unique features that may suit different business needs. This article helps you compare the main digital banks in Singapore and select the best one for your business.
We present an overview of 11 online banking solutions for businesses available in Singapore. All of them offer remote account opening. We will update the list as new options become available.
Airwallex
https:/https://partners.airwallex.com/intracorp
This payment system originated in Australia and received its financial licence in Singapore. It can open and maintain accounts in 50 different currencies. That means you can store the actual funds without conversion exactly the same way as foreign currency bank accounts work. Customers like this system for its simplicity, convenience and low transfer rates. Most of the international transfers are done within hours. Airwallex is one of the most trusted digital banks in Singapore for businesses with international operations.
Aspire
Aspire is a pioneer among online payment providers in Singapore. It is recognized as one of the top digital banks in Singapore for startups and small and medium-sized enterprises (SMEs). Top venture capitalists, including Lightspeed, Sequoia, Tencent and PayPal Ventures, back this Singapore-based payment account and app. It’s ideal for small and medium businesses in Singapore.
A current account in SGD is opened within hours, with no long KYC or interviews. You can also open accounts in USD, EUR, GBP, SGD, IDR and other major currencies. Local SGD payments are free.
Aspire provides virtual Mastercard debit cards for convenient online payments, plus a 1% cashback on digital marketing and software subscriptions.
When opening an account with Aspire, our clients receive a bonus of 50 SGD on their first deposit. Contact us to register and claim the bonus.
ANEXT Bank Singapore
ANEXT Bank Singapore is a digital bank regulated by the MAS, focusing primarily on SMEs. They offer a range of digital banking services tailored to the needs of SMEs, helping to streamline their financial operations. ANEXT Bank aims to provide innovative and efficient banking solutions to support the growth and development of these businesses in the digital economy.
It offers operational accounts in 2 currencies: SGD and USD. No minimum deposit requirements. The mobile app provided by the bank offers advanced security features such as face verification. ANEXT Bank is among the prominent digital banks in Singapore specializing in SME services.
Currenxie
Currenxie is a fast-growing fintech platform offering multi-currency business accounts designed to support international trade and payments. Though based in Hong Kong, Currenxie serves Singapore businesses with a fully digital onboarding process and access to global payment corridors. The platform enables companies to receive, hold and send funds in over 20 currencies with competitive FX rates and no hidden fees.
Ideal for SMEs and startups with global ambitions, Currenxie provides virtual IBANs and easy integration with accounting software. Their intuitive dashboard and transparent pricing have made them a popular choice among digital banks in Singapore for cross-border transactions.
Fazz
Fazz Bank, a Southeast Asian neobank, specializes in serving businesses registered and operating in the SEA region. It offers a comprehensive suite of financial services tailored to these businesses, including digital business debit cards and multicurrency accounts. These services are designed to facilitate seamless transactions, offer competitive foreign exchange rates, and support business growth. Fazz Bank’s commitment to financial inclusivity and innovation is particularly beneficial for a diverse range of businesses, including startups and web3 companies. Fazz is considered one of the rising digital banks in Singapore with a strong regional presence.
Green Link Digital Bank (GLDB)
Green Link Digital Bank (GLDB) offers innovative digital banking solutions focused on optimizing working capital for buyers and suppliers. The Bank focuses on simplifying financial transactions for businesses, business services such as managing deposit accounts, payments, loans, overdrafts and trade finance. GLDB also provides supply chain finance support and offers business lending opportunities without the need for collateral.
Multi-currency accounts provided by the bank include SGD and USD only. There are no minimum deposit requirements for current account opening. The account opening process can be done entirely online.
Payoneer
This payment system is truly international and has headquarters in New York, Hong Kong and Singapore.
Payoneer offers current accounts in USD, EUR, GBP, CNH, JPY, AUD, CAD, SGD and MXN, and also issues Mastercard debit cards. The Intraconnect team works closely with Payoneer, and when opening an account, our clients receive a gift of 35 USD to the account on their first deposit. You can register here: http://tracking.payoneer.com/SH2nU
Alternatively, we can handle an entire application process for you so you will get your operational bank account in Singapore remotely within days. Payoneer is one of the most widely used digital banks in Singapore for global businesses.
Wise
Formerly known as TransferWise, it is one of the first digital banks. To date, the largest payment system, which is often called “Unicorn” among payment systems; with more than 10 million customers worldwide. It is licensed in England, the EU, Singapore and many other countries.
The market capitalization of this payment system reaches 17.5 billion pounds. The maximum amount of one transfer is up to 1,000,000 USD. An account can be opened in minutes and without the need for a mandatory interview. Current accounts are opened in USD, EUR, GBP and supplemented with debit cards, virtual and physical. It connects to PayPal.
WorldFirst
https://www.worldfirst.com/sg/
An international payment system with a branch in Singapore that provides money transfer and currency exchange services for businesses and private clients. WorldFirst is known for its competitive exchange rates and low fees on international transfers. Unlike traditional banks, the system is aimed at small and medium-sized companies engaged in international trade and online business.
To open an account, you need to provide company details and go through the identity verification process. With WorldFirst, Singapore businesses can access multi-currency accounts in USD, EUR, GBP, AUD and more. Their online platform and customer support help businesses simplify global transactions and expand internationally with ease. WorldFirst is regarded as a key player among digital banks in Singapore for SMEs.
Wallex
One of the first payment systems in Singapore that received a licence from MAS.
To open an account, complete an online form with your company’s basic details, including directors and beneficial owners. The director must also attend a video interview with a Wallex manager.
A major advantage is that Wallex allows customers to work with cryptocurrency, which is something most banks and payment systems do not support. If you trade or invest in crypto, you can legally withdraw funds from exchanges via your Wallex account.
Wallex offers operating accounts in USD, EUR and GBP. You can also link them to PayPal to receive online payments.
Wallex is recognized as one of the pioneering digital banks in Singapore embracing cryptocurrency services.
YouBiz
Youbiz, a Singapore-based fintech newcomer, offers both personal and business accounts. Its main advantages include:
- Swift and straightforward online setup process.
- No charges for setup or concealed fees.
- Provision of multicurrency accounts supporting USD, SGD, and nine additional currencies.
They also provide SME corporate card to earn unlimited 1% cashback on all spending with real 0% FX fee. There is a multi-currency expense management platform integrated in the app, which helps efficiently manage payments and conversions in 9 different currencies.
YouBiz is emerging among innovative digital banks in Singapore for small businesses.
Summary
The services listed above can be a great solution for your business. Most do not require an initial deposit, so you can try one or several without risk. These accounts can supplement your main bank account and help reduce transfer fees, especially if your company makes many small payments. The savings can add up quickly. In some cases, these accounts can even replace a traditional bank account. As mentioned earlier, opening a corporate account with a Singapore bank can be difficult for new companies. That’s where digital banks in Singapore come in. They offer a wide range of services with low fees and are often much easier to access.
