Overview
Maybank Singapore, at a glance.
Maybank Singapore is a bank headquartered in Singapore, regulated by Monetary Authority of Singapore. Business accounts cost S$0–10 a month. Opening an account takes 3–5 days. The online MyInfo route is for Singapore businesses with no more than 3 directors, partners or owners, all Singaporeans or PRs. Others open at a branch with all signatories present.
Maybank Singapore Limited is a qualifying full bank licensed 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 Maybank Singapore
- No monthly fee above a S$1,000 average balance
- FAST transfers at S$0.50 each
- Complimentary business debit card
- Accepts LLPs, charities, societies and associations
- Foreign Currency Current Account in 8 currencies
Watch out for
- S$1,000 initial deposit
- S$10 a month below a S$1,000 average balance
- Online opening only when all (up to 3) directors are Singaporeans or PRs
- Branch visit with all signatories otherwise
- S$50 fee if closed within 6 months
Business fit
Will Maybank 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 Maybank Singapore's published rules
Needs review
Maybank Singapore works with Startups and SMEs, but does not publish the countries it accepts companies from.
Maybank 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 Maybank Singapore publishes about the businesses it takes on.
Who Maybank Singapore serves
- Startups and SMEs
- Professional services
- Import and export
Not supported
Industries and countries Maybank Singapore does not accept, from its own published lists.
Industries
- Not published
Countries
- Not published
Coverage
Where can you use Maybank Singapore?
Coverage is a starting point. It does not confirm that every business in these markets is eligible.
Supported currencies
SGD and 8 currencies
Foreign Currency Current Account in USD, EUR, GBP, AUD, NZD, CAD, HKD and JPY.
Payment reach
Not published
Who can apply
Company incorporation countries2 countries · show list
- Singapore
- Malaysia
Owner nationality
Not publishedOwner residency
Not publishedCompany types
Sole proprietors, Partnerships, Limited liability partnerships, Incorporated companies, Charities, Societies, Associations
Pricing
What does Maybank 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
SGD 1,000
Monthly fee
Free
FlexiBiz Account
SGD 0 per month
SGD 1,000 setup · SGD 1,000 in year one
PremierBiz Account
Lowest costSGD 0 per month
Setup fee not published
Transaction fees
| Cost | Listed amount | How it is charged |
|---|---|---|
| Outgoing | ||
| Local transfer to another bank | SGD 0.5 | Fixed fee · FAST |
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
Choose a route
Open online with MyInfo Business, or book a branch appointment.
- 2
Documents
Provide the constitution, NRIC or passport copies and the account opening form.
- 3
Deposit
Make the S$1,000 initial deposit.
- 4
Account live
Use Business Internet Banking and the business debit card.
Documents you need
- Company account opening form
- Constitution or by-laws (certified)
- NRIC or passport of all signatories, directors, partners or office bearers
FAQ
Your questions, answered.
Is Maybank Singapore a bank?
Yes. Maybank Singapore Limited is a qualifying full bank licensed by the Monetary Authority of Singapore.
How much does the FlexiBiz Account cost?
No monthly fee above a S$1,000 average daily balance, S$10 a month below it, and S$1,000 to open.
Can I open a Maybank business account online?
Yes, with MyInfo Business, for Singapore businesses with up to 3 directors, partners or owners who are all Singaporeans or PRs. Others open at a branch.
Which currencies does Maybank offer?
SGD, and a Foreign Currency Current Account in USD, EUR, GBP, AUD, NZD, CAD, HKD and JPY.
Alternatives
How Maybank Singapore compares.
If Maybank Singapore is not the right fit, these providers work with similar businesses. Compare their listed licences and services below.
| Provider | Licensed in | Known for |
|---|---|---|
 Maybank SingaporeThis pageBank |  | Start-upsDebit card |
 CIMB SingaporeBank | | Small businessesFree local transfers |
 UOBBank | | Small businessesForeign companies |
 OCBCBank | | Foreign-owned companies14 currencies |
 DBSBank | | Foreign-owned companies13 currencies |
Not sure which one fits? Your profile ranks them for your business, with the reason behind each.