Your Business Account in Singapore 🇸🇬

Q: How much does it cost to open a business bank account in Singapore?

The cost of opening a business bank account in Singapore can vary depending on the bank and the type of account chosen. Generally, there may be initial deposit requirements ranging from a few hundred to several thousand Singapore dollars, and some banks may charge maintenance or transaction fees. For a MultiPass multi-currency account with SGD payment support, the cost of opening ranges from 50 to 500 euros for most tariffs, depending on factors such as your business type, country of incorporation and others.

Q: Can I open a business bank account online in Singapore?

Yes, it is possible to open a business bank account online in Singapore. Many banks offer online account opening services, allowing you to complete the application process remotely. However, some banks may still require you to visit a branch for identity verification or to submit certain documents. The good news is that you don't need a Singapore-based bank to transact in SGD. MultiPass multi-currency IBAN lets you hold, receive and send Singapore dollars and comes with 100% online onboarding.

Q: What do I need to open a business bank account Singapore?

To open a business bank account in Singapore, you typically need the following documents: business registration documents, identification of business owners and signatories, proof of address, company profile, and potentially additional documents based on the bank's requirements.

Q: How to open a business bank account in Singapore as a foreign company?

The process is not too complicated, as Singapore banks generally welcome international businesses, whether they are local or offshore entities. Simply contact the bank, prepare the required documentation, and follow their guidelines for account opening. Depending on the bank, you may or may not be required to sign documentation in person.

Open a business account to operate in Singapore with or without local presence. Get multi-currency IBAN to manage SGD, EUR, USD, GBP, and other currencies with ease.

Open account

A single solution to bank overseas

Be where your clients and partners are - With MultiPass multi-currency account do business with partners, clients and contractors both globally and in local markets. Hold, send & receive money in multiple currencies and convert only when needed, at great FX rates.

Within Singapore 🇸🇬

Account details:

IBAN (EU & global)

Currencies:

SGD

Supported payment networks:

SWIFT, FAST*

Delivery time:

0-1 business day

*Available upon request on a case by case basis

The rest of the world 🌍

Account details:

IBAN (EU & global)

Account number & Sort code (UK)

Account & Routing numbers (US)

Currencies:

EUR, GBP, USD & 30+ currencies

Supported payment networks:

SWIFT, SEPA, SEPA Instant, Faster Payments, ACH, Fedwire, 10+ local networks

Delivery time:

0-2 business days

Reliable & transparent banking, designed for international business

Worldwide transactions

Transact in 30+ currencies across 180 countries. Get your own dedicated IBAN and local UK, EU & US accounts. Make fast multi-currency payments globally via SWIFT or local payment networks.

Wholesale FX rates

Perform live FX and move money between your own accounts with ease. MultiPass gives you access to wholesale exchange rates that guarantee significant savings versus traditional banks.

Business cards

Handle your daily corporate expenses easily with your own virtual and plastic payment cards. Order and manage your cards 100% online from your MultiPass business account.

Dedicated support

No bots or automated replies!
A dedicated banking expert that understands your business nature with help you out with any questions and ensure smooth delivery or your payments.

Digital onboarding

Onboard and manage your account entirely online, wherever you are. Our team will guide you through the onboarding so that you can be up and running within days, not weeks.

Trusted service

MultiPass is a UK-based FCA-authorised EMI. MultiPass is part of the Dyninno Group, an international holding with over 19 years of experience in the global market.

How to send money to
Singapore 🇸🇬 with MultiPass

Convert your currency to SGD

Save on FX vs traditional banks. Hold SGD in your account and avoid unnecessary conversions.

Choose recipient in Singapore

Make a payment to their IBAN

From 0.50 GBP per payment

Your beneficiary receives the exact amount, with no hidden FX charges along the way

Pricing

Account opening

29-450 GBP

Account maintenance

29-250 GBP/month

IBAN + local UK, US details issuing

Free

Please note that pricing may vary from case to case. For more information, visit the pricing page.

Get paid in the currency your clients are used to

free to 1 GBP

Share your multi-currency account details with your customers in Singapore, allowing them to pay you in SGD.

Pay overseas staff cheaper & easier

from 0.50 GBP

Local payouts offer significant savings vs international SWIFT transfers, which is perfect for companies that regularly pay salaries to overseas contractors.