Overview
DBS, at a glance.
DBS is a bank headquartered in Singapore, regulated by Monetary Authority of Singapore. Business accounts cost SGD 10 a month. Opening an account takes 3–5 days. Accepted through a guided relationship-manager route for foreign-owned and foreign-incorporated companies; online opening is for companies fully owned by Singapore citizens or permanent residents.
DBS Bank Ltd. is a licensed bank in 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 DBS
- One account in 13 currencies
- Unlimited free FAST and GIRO payments on the Starter Bundle
- A business debit card with no annual fee and no FX charges
- A guided route for foreign-owned and foreign-incorporated companies
- Opened online at no cost for fully local ownership
Watch out for
- After three years in business the account costs SGD 50 a year plus SGD 40 a month below an average balance of SGD 10,000
- Telegraphic transfers cost SGD 30 plus agent bank fees
- Instant online opening is only for companies fully owned by Singapore citizens or permanent residents
- Foreign-owned companies go through a relationship manager and the pricing guide
- Trustpilot score of 1.4 from 205 reviews (DBS as a whole)
Business fit
Will DBS 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 DBS's published rules
Needs review
DBS works with Startups and SMEs, but does not publish the countries it accepts companies from.
DBS 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 DBS publishes about the businesses it takes on.
Who DBS serves
- Startups and SMEs
- Import and export
- E-commerce
- Holding companies
Not supported
Industries and countries DBS does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use DBS?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
13 currencies
- EUR
- USD
- GBP
- CHF
- CAD
- AUD
- JPY
- CNH
- HKD
- NOK
- NZD
- SEK
- SGD
Payment reach
Not published
Who can apply
Company incorporation countries
Not publishedOwner nationality
Not publishedOwner residency
Not publishedCompany types
Singapore-registered companies, Foreign-incorporated companies
Pricing
What does DBS 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 10–40
depends on plan
Starter Bundle
Lowest costSGD 10 per month
SGD 0 setup · SGD 120 in year one
Business Multi-Currency Account
SGD 40 per month
SGD 0 setup · SGD 480 in year one
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| SWIFT / international | SGD 30 | Fixed fee · Plus agent bank fees |
| To another DBS account | Free | No charge · FAST and GIRO: unlimited on the Starter Bundle, 50 a month otherwise |
Other fees
Currency exchange (FX)
| Cost | Listed amount | How it is charged |
|---|---|---|
| FX markup | Not published |
Cards
| Cost | Listed amount | How it is charged |
|---|---|---|
| Physical card issue | Free | No charge · No annual fee |
| Card FX | Free | No charge |
Onboarding
From application to live account.
Opening an account typically takes three to five business days.
- 1
Apply
Start the application online or through the sales team.
- 2
Company and people
Give the company's registration details, directors and owners.
- 3
Checks
Upload the documents requested and complete identity verification.
- 4
Account live
Once approved, the account is opened and you receive its details.
Documents you need
Not published
FAQ
Your questions, answered.
Is DBS a bank?
Yes. DBS Bank Ltd. is Singapore's largest bank, licensed by the Monetary Authority of Singapore. Singapore-dollar deposits are insured up to S$100,000.
How much does a DBS business account cost?
The Starter Bundle costs SGD 10 a month for businesses under three years old. After that the account costs SGD 50 a year and SGD 40 a month, waived with an average balance of SGD 10,000.
Can a foreign-owned company open a DBS account?
Yes, through a guided route with a relationship manager. Instant online opening is only for companies fully owned by Singapore citizens or permanent residents.
Which currencies does DBS support?
SGD, USD, JPY, HKD, EUR, AUD, CAD, CHF, CNH, GBP, NOK, NZD and SEK, in one account.
Alternatives
How DBS compares.
If DBS is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 DBSThis pageBank |  | Business accountNon-residents accepted |
 OCBCBank | | Foreign-owned companies14 currencies |
 ANEXT BankDigital bank | | No monthly fee4 currencies |
 AspirePayments platform |   | Free planCorporate cards |
 AirwallexE-money institution |   | Global accountsOnline businesses |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.