Top GXS alternatives in Singapore (2026): Features, fees, and comparisons

What GXS Bank offers Singapore businesses in 2026

GXS Bank is a digital bank licensed by the Monetary Authority of Singapore. It is a joint venture between Grab Holdings and Singtel.

The bank offers the GXS Biz Account, designed for freelancers and small businesses, particularly those already using the Grab ecosystem.

Key features

• Account type: GXS Biz Account serving SMEs in Singapore
  
• Monthly fee: SGD $0
  
• Minimum balance: None
  
• Fall below fee: None
  
• Interest: Earn 1.08% p.a. interest on balances, credited daily
  
• Debit card: GXS Biz Account currently does not offer a business debit/credit card
  
• Local payments: Receive payments from customers through PayNow, and make outward transfers using FAST and PayNow
  
• Branches: Fully digital, no physical branches
  
• SGD deposits: Insured under the Singapore Deposit Insurance Corporation scheme, up to SGD $100,000 per depositor
  

Why Singapore businesses look for GXS Bank alternatives in 2026

• Multi-currency limitations: GXS Bank currently does not provide multi-currency business accounts. Businesses that receive or send payments in different currencies may need additional platforms to manage foreign exchange and international payments.
  
• Local payment capabilities: The platform supports basic local transfers such as PayNow and FAST. However, other payment rails commonly used by businesses in Singapore, including GIRO-based payments and structured payroll processing, are not available for GXS Biz Account. Companies may therefore maintain another banking relationship for certain operational payments.
  
• Corporate cards and expense visibility: The account does not include corporate cards or built-in expense management tools. Businesses with multiple employees making payments may need separate systems to manage spending approvals, budgets, and receipt tracking.
  
• Accounting software connectivity: They do not support integration with accounting software. If you use tools like Xero or QuickBooks for bookkeeping, you may need to download and upload bank statements manually each week, which can take extra time.
  
• Scalability for growing businesses: The account is generally suited for simple domestic transactions. Businesses handling cross-border payments, multiple currencies, or larger transaction volumes may eventually require platforms with broader financial management tools.
  

Quick comparison of GXS alternatives in 2026

The table below compares GXS Bank against the main GXS alternatives and competitors across the features that matter most for business use. Pricing verified as of February 2026.

Data as of March 2026. Note: Fees and features are subject to change. Confirm current rates directly with each provider before committing.

Best GXS Bank alternatives for Singapore businesses in 2026

MariBank

MariBank operates as a digital bank licensed by the Monetary Authority of Singapore. The bank provides app-based business banking with a fully digital operating model.

What stands out

• Licensed digital bank regulated by the Monetary Authority of Singapore
  
• Fully digital onboarding process
  
• App-based account management
  
• Integration with the Shopee ecosystem for easier fund management
  

Pricing

Local transfers are free⁷. Overseas transfer fees may be waived depending on the transaction. There are no fall-below-balance fees.

Considerations

International transfer capabilities and multi-currency features are more limited compared with some global fintech platforms. FX costs and overseas transfer charges can vary depending on the payment corridor. The platform also does not currently offer advanced spend management tools, such as corporate cards or treasury features, and its integrations with accounting systems or APIs are limited.

ANEXT Bank

ANEXT Bank is a digital wholesale bank regulated by the Monetary Authority of Singapore. Launched in 2022 as a subsidiary of Ant International, it focuses on supporting SMEs engaged in regional trade and cross-border supply chains.

What stands out

• Hold and manage balances in SGD, USD, EUR, and CNH
  
• Daily interest accrual on SGD, USD, and EUR balances
  
• Business loans and working capital solutions designed for SMEs involved in import, export, and supply chain operations
  
• Businesses, including foreign-owned companies, can open accounts fully online
  
• Multi-currency fixed deposits starting from USD $5,000, with terms from one month
  
• Banking services can integrate with certain e-commerce or supply chain platforms
  

Pricing

There are no account setup fees, no monthly account fees, and no minimum balance requirements for the ANEXT business account.

Considerations

The platform does not include corporate cards or built-in expense management tools. Local payment capabilities are more limited, with no support for CPF contributions, salary processing, or GIRO payments. Multi-currency support is narrower than some global fintech platforms, and direct integrations with accounting software are not currently available.

Green Link Digital Bank (GLDB)

Green Link Digital Bank is a digital wholesale bank licensed by the Monetary Authority of Singapore. Backed by Greenland Group and Linklogis, the bank focuses on providing financing solutions for SMEs involved in regional and cross-border supply chains.

What stands out

• Services designed for businesses involved in B2B trade, including companies trading with China
  
• Financing solutions aimed at manufacturers, distributors, and trading companies
  
• Working capital and loan products structured to support trade cycles and operational funding
  

Pricing

There is no account fee (SGD $0)⁸. Foreign exchange transactions are charged at 1/12% per transaction, with fees ranging from USD 40 to USD 150.

Considerations

The bank focuses primarily on trade and commercial financing rather than broader banking tools. It does not provide consumer products, credit cards, travel rewards, or personal savings accounts, and its services are primarily designed for SMEs involved in supply chain finance.

Trust Bank

Trust Bank is a digital bank in Singapore created through a partnership between Standard Chartered Bank and NTUC FairPrice. It operates with a full bank licence, and customer deposits are protected under the Singapore Deposit Insurance Corporation scheme.

What stands out

• No foreign transaction fees on overseas card spending
  
• Transparent foreign exchange pricing without hidden markups
  
• Global card acceptance for in-store and online payments
  
• Earn Linkpoints on eligible spending within the FairPrice ecosystem
  
• Fully digital account management through the mobile app
  

Pricing

There is no monthly account fee and no minimum balance requirement. Overseas card spending has no foreign transaction fee, and FX is applied using the card network's exchange rate.

Considerations

The platform focuses primarily on personal banking products. Currently, the platform has limited options for business accounts, corporate cards, and dedicated SME banking tools.

DBS Bank

DBS Bank provides a wide range of business banking services in Singapore. The bank also runs a dedicated SME banking segment that supports small and medium businesses with accounts, financing, and trade services.

What stands out

• Business loans, working capital, and trade finance options
  
• Cash management and treasury services
  
• Relationship managers for SMEs
  
• Extensive branch and service network
  
• Integration with CPF and IRAS systems
  
• SGD deposits are protected under the Singapore Deposit Insurance Corporation scheme (within regulatory limits)
  

Pricing

The Business Multi Currency Account – Starter Bundle (for businesses under 3 years) charges SGD $10 per month with no monthly service charge. The Business Multi Currency Account (for businesses over 3 years) charges SGD $50 annually plus a SGD $40 monthly service charge. Zero FX fees apply when using the DBS Business Advance+ Debit Card.

Considerations

Monthly fees and fall-below-balance charges may apply. Account opening and compliance checks may also take longer compared to some fintech platforms.

OCBC Bank

OCBC Bank focuses on SMEs and provides industry-specific support for sectors such as F&B, retail, and trading.

What stands out

• Business accounts and lending products
  
• Industry-focused SME support for sectors such as retail, F&B, and trading
  
• Treasury and cash flow management tools
  
• Relationship managers for businesses
  
• Integration with CPF and IRAS systems
  

Pricing

The Business Growth Account requires a minimum deposit of SGD $1,000 and charges SGD $10 per month. The Business Entrepreneur Account Plus requires a minimum deposit of SGD $30,000 and has no monthly account fee.

Considerations

Monthly fees and minimum balance requirements may apply. Foreign exchange spreads and international transfer costs can sometimes be higher than those offered by some fintech platforms.

UOB Bank

United Overseas Bank provides business banking services across ASEAN markets, including Singapore, Malaysia, Thailand, and Indonesia. It offers several business account options for companies managing domestic and international payments.

What stands out

• Business current accounts and foreign currency accounts
  
• Regional banking presence across ASEAN markets
  
• Trade and cross-border payment services
  
• Financing and working capital solutions for businesses
  

Pricing

The UOB eBusiness Account and Corporate Current Account charge SGD $35 annually. Minimum opening deposits typically start from SGD $1,000, depending on the account type. Foreign currency accounts usually do not have a monthly account fee, but minimum balance requirements may apply.

Considerations

Monthly service fees or fall-below charges may apply if balance requirements are not met. Foreign exchange spreads and international transfer costs may be higher than those offered by some fintech platforms.

Wise

Wise focuses on international transfers and transparent foreign exchange pricing. Transfers use the mid-market exchange rate, and fees are shown before you confirm a payment. This structure can help businesses understand the cost of cross-border payments before completing a transaction.

What it offers

• Currency conversions use the mid-market rate, with transfer fees averaging 0.25%, depending on the currency pair.
  
• Hold and manage 40+ currencies, with local account details available in currencies such as USD, EUR, GBP, AUD, and SGD
  
• Send payments to up to 1,000 recipients in a single upload
  
• Connect with Xero and QuickBooks, with API access for custom workflows
  

Pricing

There is no monthly account fee. A one-time setup fee may apply depending on the region. Transfer fees vary by currency corridor and are shown before completing the transaction.

Considerations

Expense management tools are relatively basic compared with some dedicated spend management platforms. Wise Business does not provide dedicated relationship managers, and support is mainly provided through online help resources and chat-based support channels.

Revolut

Revolut offers multi-currency business accounts with tools designed for companies managing international payments and growing teams. The platform includes foreign exchange features and card controls that help businesses manage spending and currency exposure.

What it offers

• Hold and manage more than 25 currencies from a single platform
  
• Basic (SGD $0), Grow (from SGD $15 per month), Scale (from SGD $84 per month), and Enterprise (from SGD $417 per month). Annual billing can reduce costs by up to 20%.
  
• Exchange currencies without fees up to the monthly plan allowance, SGD $1,500 (Basic), SGD $13,000 (Grow), and SGD $60,000 (Scale).
  
• Issue virtual debit cards with role-based spending limits for team members.
  
• Send payments to 150+ countries in 25+ currencies.
  
• Available on certain transactions depending on the subscription plan.
  

Pricing

The Basic plan has no monthly fee. Paid plans provide higher FX allowances and additional features. A 0.6% markup applies once the monthly FX allowance is exceeded.

Considerations

Monthly subscription costs increase with higher-tier plans. The level of customer support varies by plan, and some features are available only on paid subscriptions.

Airwallex

Airwallex provides financial infrastructure designed for businesses managing global payments and online commerce. Its platform supports multi-currency accounts, payments, and integrations with other business systems.

What it offers

• Hold and send funds in 50+ currencies with local account details in major markets
  
• Transfer fees start from around 0.4% per transaction
  
• Accept online payments through cards and digital wallets
  
• Issue physical and virtual cards with spend limits for team members
  
• Developer tools and APIs for automating payment and financial workflows
  

Pricing

There is no monthly account fee. International transfers start from around 0.4%, and domestic FAST transfers in Singapore are free.

Considerations

Airwallex supports salary payouts but does not provide full payroll processing, including salary calculations, tax management, and statutory filings such as CPF or IRAS submissions.

Aspire

Aspire provides a multi-currency business account with built-in spend management tools for companies based in Singapore. The platform is regulated by the Monetary Authority of Singapore and is designed to help businesses manage payments, cards, and expenses from one interface.

What it offers

• Hold and receive payments in 30+ currencies across 130+ countries, with local account details in USD, EUR, SGD, HKD, CNY, and GBP
  
• Foreign exchange rates start from 0.22%, with fees displayed before confirming each transaction
  
• Supports PayNow, FAST, GIRO, salary payments, CPF contributions, and corporate tax payments
  
• Corporate cards: Issue up to 200 virtual or physical cards (with the Basic plan) with 1% cashback on eligible marketing and SaaS spend
  
• Set budgets by team, client, or project, with approval workflows and real-time spend tracking
  
• Sync with Xero and connect with QuickBooks, Oracle NetSuite, Deskera, and SAP
  
• Earn returns on SGD and USD balances through money market funds, with no minimum balance and next business day withdrawals
  

Pricing

There is no monthly account fee, no account opening fee, and no minimum balance requirement. FAST and GIRO transfers are free.

Considerations

Aspire is not a traditional bank and does not provide lending services or deposit insurance. Some advanced tools and features may be available only on higher-tier plans.

WorldFirst

WorldFirst is regulated in Singapore by the Monetary Authority of Singapore as a Major Payment Institution. The platform is commonly used by businesses that sell across multiple online marketplaces and need to manage cross-border payments.

What it offers

• Direct connections with 130+ platforms, including Amazon, Shopify, Shopee, and TikTok Shop
  
• Hold balances in 20+ currencies with local bank details in selected markets
  
• Send up to 1,000 international payments in a single batch
  
• Lock in exchange rates for future transfers to manage currency exposure
  

Pricing

There is no monthly account fee. Transfer fees vary depending on the currency corridor and transaction volume.

Considerations

WorldFirst does not provide lending products, local Singapore credit facilities, or deposit insurance coverage like a traditional bank. Businesses may also need a separate Singapore bank account for domestic services such as CPF payments, GIRO arrangements, or payroll processing.

Payoneer

Payoneer is commonly used by freelancers, online sellers, and businesses that receive payments through international marketplaces. It integrates with many global platforms, simplifying the collection of revenue from multiple sources.

What it offers

• Receive payments from platforms such as Amazon, Upwork, Fiverr, and Airbnb
  
• Get paid in USD, EUR, GBP, JPY, AUD, CAD, SGD, HKD, and AED
  
• Send international payments to suppliers, contractors, or partners
  
• Invoice clients and collect payments without additional invoicing software
  

Pricing

Receiving payments from supported marketplaces is generally free. Currency conversion fees can reach up to 3%, and ATM withdrawal fees may apply.

Considerations

Foreign exchange fees can be higher than those on some multi-currency fintech platforms. Payoneer focuses on global payments and marketplace collections rather than full-service business banking, so it does not provide services such as loans or deposit insurance. Expense management tools and corporate card controls are relatively limited.

Key factors to evaluate when choosing a business financial services provider in 2026

If you are planning to switch, review these factors carefully before opening a new account:

1. Understand the FX pricing model

Foreign exchange costs can add up, especially when processing large volumes.

Check:

• Does the provider use the mid-market rate or apply a markup?
  
• Are there extra charges on weekends?
  
• Is pricing structured in tiers with monthly limits?
  
• Are all fees clearly shown before you confirm a transaction?
  

2. Evaluate the total cost, not just the monthly fee

Examine your expected usage pattern and calculate the actual cost.

Review the full fee structure, including:

• Monthly subscription fees
  
• FX markup percentage
  
• Card foreign transaction charges
  
• International transfer fees
  
• ATM or withdrawal fees
  

3. Confirm local payment capabilities

If your business primarily operates in Singapore, make sure the platform supports essential local rails such as:

• PayNow
  
• FAST and GIRO
  
• CPF contributions
  
• Salary payments
  
• Corporate tax payments
  

4. Assess expense management features

For growing teams, strong spending controls are important.

Check whether the platform provides:

• Budget limits by team or project
  
• Structured approval workflows
  
• Virtual and physical corporate cards
  
• Real-time transaction tracking
  
• Receipt capture and reconciliation tools
  

5. Consider scalability and global capability

Your banking partner should support your growth. Switching again in a year due to growth constraints can be disruptive.

Ensure the platform can manage:

• Higher transaction volumes
  
• Multi-currency holding accounts
  
• Local receiving details in key markets
  
• Batch payments or mass payouts
  
• API access for automation
  

6. Check accounting integrations

Manual reconciliation increases the risk of errors and adds administrative burden. Automation can reduce accounting workload and improve accuracy.

Look for:

• Direct integration with Xero, QuickBooks, or your accounting system
  
• API connectivity
  
• Automated and frequent data synchronisation
  

7. Review regulatory status and safeguards

Cost should not outweigh compliance and security.

Before moving, verify:

• Licensing status in Singapore or other locations where you operate
  
• How do they safeguard your (client) funds
  
• Whether deposit insurance applies
  
• Data security and compliance standards
  

Ready to move beyond GXS

If your business requires features beyond what GXS Bank currently offers, you may consider Aspire as an alternative business account that includes a broader range of financial management tools.

• Multi-currency accounts with FX rates starting from 0.22%
  
• Up to 200 corporate cards for your team
  
• Built-in expense controls and approval workflows
  
• Payroll support for paying local and international teams
  
• Create, send, and manage invoices easily, with automatic syncing and reconciliation
  
• Accounting integrations that sync hourly for cleaner reconciliation
  

Open an Aspire business account right away.

Frequently asked questions

Is GXS or MariBank better?

Both GXS Bank and MariBank are MAS-licensed digital banks, and the better option depends on your needs. GXS Bank focuses on everyday digital banking with features such as savings tools and local transfers through FAST and PayNow, which may suit freelancers or small businesses handling SGD payments. MariBank offers a simple savings structure and integrates with the Shopee ecosystem, which can be useful for online sellers. The choice depends on whether you prioritise savings features, local payments, or e-commerce integrations.

What are the five digital banks in Singapore?

Singapore currently has five digital banks licensed by the Monetary Authority of Singapore. These include GXS Bank, MariBank, Trust Bank, ANEXT Bank, and Green Link Digital Bank.

The first three mainly serve everyday consumers with digital savings and payment accounts, while ANEXT Bank and Green Link Digital Bank focus on SMEs and businesses, particularly those involved in trade and supply chains. Together, they form Singapore’s small but growing digital banking ecosystem.

Does GXS Bank support multi-currency accounts?

No. GXS Bank does not offer multi-currency accounts. It is mainly designed for local SGD transactions. While it supports FAST and PayNow transfers, it does not provide full multi-currency accounts or broader international payment capabilities. Businesses that frequently send or receive overseas payments may need a platform built for global transactions, such as Aspire, Airwallex, or Wise, which offer multi-currency accounts and international payment capabilities.

Can SMEs use GXS Bank with a fintech platform?

Yes. Many SMEs use GXS Bank for local SGD transactions while using a fintech platform for services such as multi-currency accounts, international payments, or expense management. The GXS Biz Account mainly supports domestic transfers through FAST and PayNow and operates primarily in SGD, so combining it with another platform can help cover global payment needs. This setup allows businesses to keep local banking with GXS while using fintech tools for cross-border payments or additional financial features.