Global Accounts
Open a Singapore business account from Singapore
Open a Singapore dollar account online from Singapore with Airwallex. Your account will come with local Singapore bank and branch codes and a dedicated account number. Use your SGD account to receive, manage, and send Singapore dollars with no hidden fees.
Hassle-free currency accounts with local bank details
Skip the queues and excessive paperwork usually involved in setting up a multi-currency business account. Open multi-currency accounts online and collect payments from your global customers in their preferred currency. Spend your proceeds later in the same currency, eliminating unnecessary conversion fees.
Save on unnecessary bank charges
There are no account opening fees, monthly maintenance charges, or minimum transaction requirements.
Streamline your global cash management
Convert balances to different currencies in just a few clicks and review your global transactions in a single view.
Know your funds are safe and secure
Relax knowing that your money is secure and protected with end-to-end encryption and bank-level security.
Avoid costly conversion fees
Eliminate unnecessary conversion fees by receiving payments in the same currencies that your customers pay in.
Global Accounts
How to open a SGD business account from Singapore?
Businesses can open a SGD account from Singapore easily with Airwallex. Simply sign up online and, once onboarded, you can open multiple domestic and foreign currency accounts in minutes. Your SGD account will come with local bank account details, making it easy for you to receive payments in SGD which you can either spend or convert at the interbank exchange rate. Avoid bank queues and endless paperwork, and open your SGD account online with Airwallex today.
Your Singapore Dollar account
How will your SGD business account work?
Get your SGD account details
Open your SGD account online and receive a local Singapore account number and branch code. Share these details with your clients and customers in Singapore and start receiving payments in Singapore dollars via local bank networks. You can also link your SGD account to eCommerce platforms such as Amazon and Shopify.
Spend in Singapore dollars
Once you have funds in your Business Account, you can spend them using Airwallex Borderless Cards, or transfer them to your recipient’s bank account. Use your Singapore dollars to pay suppliers and employees in Singapore and elsewhere efficiently, without being subject to needless currency exchange fees.
Convert currencies at market-beating rates
Airwallex gives you access to the interbank exchange rate (sometimes known as the mid-market rate). That means that if you need to convert currencies, you’ll enjoy market-leading foreign exchange rates no matter the transaction size. You can also hedge against currency exchange risk by only converting currencies when the exchange rate is favourable.
Global Accounts
Who is the Airwallex Global Business Account for?
The Airwallex Global Business Account is ideal for companies that operate across borders. Including companies that invoice overseas clients, sell globally on platforms such as Amazon and Shopify, and work with international suppliers. Our platform allows businesses to centralise their financial operations in one place, even when managing multiple global entities. From expense management to bill payments, payment solutions, and FX, Airwallex has you covered. We make global money management simple and cost-effective for businesses of all shapes and sizes - that’s why we’re trusted by over 100,000 businesses worldwide.
FX & Transfers
End-to-end global money management from Singapore
When a payment gets sent to one of your Global Accounts, those funds are instantly visible to you in your Airwallex Account. Easily convert currencies at interbank rates and use Airwallex to make fast, cost-effective domestic and international transfers.
Frequently asked questions
Is it possible to open a SGD account in Singapore as a Singapore business?
Yes, it is possible to open a SGD (Singapore dollar) account in Singapore as a non-resident business (ie. a business that is registered in a jurisdiction outside of Singapore). Airwallex simplifies the process of opening foreign currency business accounts around the world. Sign up online and, once onboarded, your business can open multiple domestic and foreign currency accounts, including SGD accounts, in minutes. This means you can skip the lengthy paperwork and long wait times usually associated with opening multiple foreign currency accounts.
What are the benefits of opening a SGD account in Singapore as a non-resident business?
Opening a Singapore dollar (SGD) account in Singapore as a non-resident business offers several advantages. Having a SGD account allows non-resident businesses to operate seamlessly in the local currency, facilitating smoother transactions and reducing currency conversion costs. Singapore is a global financial hub, and holding a SGD account can facilitate dealings with local entities. A SGD account can be beneficial for businesses looking to tap into the vibrant and dynamic Southeast Asian market, positioning themselves strategically in one of Asia's key financial centres.
What are the challenges of opening a SGD account with banks in Singapore as a non-resident business?
When opening a SGD account with banks in Singapore, non-resident businesses might encounter complex documentation requirements, and banks may seek detailed information about the company's structure, activities, and source of funds. Additionally, some financial institutions may impose higher minimum balance requirements for non-resident accounts, and there could be associated fees that businesses need to consider.
The benefit of signing up for an Airwallex Global Account is that businesses only need to present their documentation once. After being successfully onboarded, businesses can open multiple domestic and foreign currency accounts online in minutes. This means you can skip the lengthy paperwork and long wait times usually associated with opening multiple foreign currency accounts. Airwallex does not charge account opening fees and has no minimum balance requirements.
What other popular currencies can I open a business account from Singapore
See below for a range of other currency accounts you can open from Singapore: