Overview
CIMB Singapore, at a glance.
CIMB Singapore is a bank headquartered in Singapore, regulated by Monetary Authority of Singapore. Business accounts cost S$0–28 a month. Opening an account takes 3–5 days. Directors and owners can be non-citizens (passports accepted). Online opening is for businesses registered in Singapore or Malaysia; others contact a bank representative.
CIMB Bank Berhad is licensed as a full bank in Singapore by the Monetary Authority of Singapore. Singapore-dollar deposits are insured by the Singapore Deposit Insurance Corporation up to S$100,000 per depositor; foreign-currency deposits are not.
Why businesses pick CIMB Singapore
- Opened fully online by Singapore and Malaysian companies
- Free PayNow, FAST and GIRO payments
- SME Account free for the first year, then S$8 a month
- No initial deposit or minimum balance on SME and TransactPlus
- Foreign-currency accounts in 10 currencies
Watch out for
- Companies outside Singapore and Malaysia must go through a bank representative
- Overseas transfers cost S$15 on the SME Account after the promotion
- BusinessGo charges S$88 a month below S$30,000 once its waiver ends in March 2027
- TransactPlus costs S$28 a month
Business fit
Will CIMB Singapore accept your business?
Four quick answers. Where your company is registered and what it does rule a provider in or out faster than anything else.
Based on CIMB Singapore's published rules
Needs review
CIMB Singapore works with Startups and SMEs, but does not publish the countries it accepts companies from.
CIMB Singapore does not publish a minimum company age or turnover, so those two answers are not checked here.
This is one provider. Your profile checks all of them.
- Every provider that fits your business
- The reason behind each match
- Company age and turnover checked too
Who it works with
Accepted and not accepted.
What CIMB Singapore publishes about the businesses it takes on.
Who CIMB Singapore serves
- Startups and SMEs
- Import and export
- E-commerce
- Professional services
Not supported
Industries and countries CIMB Singapore does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use CIMB Singapore?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
SGD and 10 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- CNH
- HKD
- NZD
- SGD
Payment reach
Not published
Who can apply
Company incorporation countries2 countries · show list
- Singapore
- Malaysia
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Private limited companies, Public companies, Partnerships, Sole proprietorships
Pricing
What does CIMB Singapore cost?
Look beyond the monthly fee. Your total cost depends on how many transfers you make, where they go and how much you convert.
Account cost
Opening fee
Free
Monthly fee
SGD 0–28
depends on plan
CIMB SME Account
SGD 8 per month
SGD 0 setup · SGD 96 in year one
CIMB TransactPlus
SGD 28 per month
SGD 0 setup · SGD 336 in year one
CIMB BusinessGo
Lowest costSGD 0 per month
Setup fee not published
Transaction fees
| Cost | CIMB SME Account | CIMB TransactPlus | CIMB BusinessGo | How it is charged |
|---|---|---|---|---|
| Outgoing | ||||
| SWIFT / international | SGD 15 | SGD 5 | SGD 18.88 | Fixed fee · Through BizChannel; free for 12 months until 31 December 2026; agent charges extra |
| Local transfer to another bank | Free | Free | Free | No charge · PayNow, FAST and GIRO |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply online
Start with Corppass or the company UEN; save and resume at any step.
- 2
Documents
Upload the constitution or partnership agreement, signatures and NRIC or passport copies.
- 3
Checks
CIMB verifies the company, its directors and owners.
- 4
Account live
Use BizChannel@CIMB for payments once approved.
Documents you need
- Constitution (companies) or partnership agreement
- Specimen signatures
- NRIC or passport copies of directors, signatories, controlling persons and beneficial owners, with a photo holding the NRIC
FAQ
Your questions, answered.
Is CIMB Singapore a bank?
Yes. CIMB Bank Berhad is licensed as a full bank in Singapore by the Monetary Authority of Singapore.
How much does a CIMB business account cost?
The SME Account is free for the first year, then S$8 a month. TransactPlus costs S$28 a month; BusinessGo has no monthly fee but charges S$88 below a S$30,000 average balance.
Can foreign companies open a CIMB Singapore account?
Singapore and Malaysian companies apply online. Companies incorporated elsewhere contact a bank representative.
Are local transfers free?
Yes. PayNow, FAST and GIRO payments are free on the SME and TransactPlus accounts.
Alternatives
How CIMB Singapore compares.
If CIMB Singapore is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 CIMB SingaporeThis pageBank |  | Small businessesFree local transfers |
 UOBBank | | Small businessesForeign companies |
 OCBCBank | | Foreign-owned companies14 currencies |
 DBSBank | | Foreign-owned companies13 currencies |
 Maybank SingaporeBank |  | Start-upsDebit card |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.