Aspire alternatives in Singapore: business accounts and their published fees

Aspire lists S$0 monthly and set-up fees, with international transfers from S$15. Alternatives include Airwallex, Statrys and Wise for foreign-currency use, ANEXT for SGD interest and DBS, OCBC or UOB for a bank-branded account.

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Aspire is one choice among several. This page puts its published fees beside the others we have read in full. Figures come from each provider's own page on . SingaporeCompanySetupGuide.com is an independent guide, not a bank or a payments firm, and may be paid by partners for referrals. We have not opened these accounts ourselves.

How do Aspire and its alternatives compare?

Account Fees published FX or transfer cost Who can apply
Aspire S$0 monthly, S$0 set-up, S$0 deposit, S$0 minimum balance International transfers from S$15 Foreign directors and owners can apply, per Aspire
Airwallex Free to open, Explore plan with no monthly fee 0.4% above interbank (major), 0.6% (others) Singapore-registered companies, documents listed
Statrys No monthly, opening or deposit fee From 0.1% Restrictions on some countries and US-linked owners
Wise Business One-time S$99 for account details, no monthly fee Conversion from 0.19% Singapore companies, ID and registry documents
ANEXT S$0 to open, no annual fee, no minimum balance Daily interest up to 0.8% a year Singapore-incorporated businesses, via Corppass
DBS Business Digital S$18 monthly, S$1,000 initial deposit Not compared here Online route for citizen or PR owned companies
OCBC Business Growth S$1,000 initial deposit, S$10 monthly fee waived for 2 months Not compared here Online route for citizen or PR owned companies

Full detail and sources are on each account's page: Aspire, Airwallex, Statrys, Wise, ANEXT, DBS and OCBC.

What does each alternative do differently?

Airwallex and Statrys lean on foreign-currency payments, so they suit a company that pays or is paid abroad often. Statrys also excludes crypto, gambling and money services businesses, and some listed countries.

Wise Business charges once for account details in 22 currencies. Conversion starts at 0.19%, and a volume discount applies above S$30,000. The first S$100 of ATM withdrawals a month is free, then 1.75%.

ANEXT is the only one in this table that describes itself as a digital wholesale bank licensed by MAS. It pays daily interest up to 0.8% a year and supports SGD and USD.

DBS and OCBC come with a bank brand and branch network but have a deposit and fall-below fees. Their online routes are for companies owned by Singapore citizens or PRs, so a foreign owner usually takes a different route.

Which to choose for which situation?

  • Overseas founder with foreign customers. Compare Aspire, Airwallex, Statrys and Wise on the live FX quote for your currencies.
  • Company with cash balances to park. Compare ANEXT's interest range against fees elsewhere.
  • Local company owned by citizens. The DBS and OCBC online routes become available, at the cost of deposits and monthly fees.
  • A company that needs a branded bank account for a client or a licence. Ask the client or regulator what they accept.

What should you check before you apply?

  1. Whether the provider is a bank or a payment firm, and how client money is held.
  2. The documents asked for, which may include a proof of address and a board resolution.
  3. How long approval takes. Aspire's page gives two figures, 1 to 3 and 5 to 7 business days.
  4. Your sector. Several providers decline some business types.

Osome names Aspire, Airwallex and WorldFirst as its banking partners and says approval is the bank's decision. Sleek offers its own business account, marked subject to approval. The Sleek review and Osome review cover those statements. See the business bank account overview too.

Want help choosing?

Use the quote form on this page. We pass your request to suitable providers, who can tell you which accounts they support for your structure.

Sources

Good to know

Questions people ask

What are the alternatives to Aspire in Singapore?

Airwallex, Statrys, Wise Business and ANEXT are the digital options we have read. DBS, OCBC and UOB are the main banks. Each publishes fees, and each has its own rules on who can apply, which we list in the table.

Is there a free alternative to Aspire?

Statrys lists no monthly fee, no opening fee and no initial deposit. Airwallex lists a free opening and an Explore plan with no monthly fee. ANEXT lists S$0 to open and no annual fee. Wise charges a one-time S$99 for account details.

Which alternative suits a foreign director best?

Aspire says foreign directors and owners can apply. Statrys and Airwallex also serve overseas founders, but Statrys excludes some countries and US-linked owners. DBS and OCBC online opening is for companies wholly owned by citizens or PRs.

Are Aspire and its alternatives banks?

Aspire calls itself a digital payment provider, not a bank. ANEXT describes itself as a digital wholesale bank licensed by MAS. Check each provider's licence and how it protects client money on its own pages.

Which has the lowest foreign exchange cost?

On published figures, Statrys lists FX from 0.1%, Wise from 0.19% and Airwallex 0.4% above the interbank rate for major currencies. Aspire's own fee list quotes international transfers from S$15. Test the live quote for your currency pair.

Can I keep Aspire and add another account?

Nothing stops a company from holding several accounts. Many keep a local SGD account and a foreign-currency one. Compare monthly fees, balance rules and how your accounting software connects before you add a second.

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