Looking for a business debit card in Singapore? Here are the best options

Hannes Ausmees
26.04.22
5 minute read

A business debit card can be the best way to manage spending and expenses for yourself and your team. Make convenient purchases online and in person, withdraw cash when you need to, and have everything accounted for in a consolidated statement so you don’t need to chase and reconcile separate bills.

Choosing the right business debit card will take a bit of research, as different cards come with their own features and fees. This guide is a great place to start, with a range of the best business debit cards in Singapore, whether you’re looking for convenient day to day spending, or low cost international transactions.

Here’s an overview of the key features of our top pick of Singapore business debit cards:

Maintenance feeForeign transaction feeATM feeCashback/ rewardsMobile paymentsDigital cardEarly closure fee
Wise Business CardNo maintenance feeNo foreign transaction fee2 withdrawals a month, to 350 SGD fee free. 1.75% after thatCurrently limitedYesYesNo
OCBC Business Debit CardUp to 10 SGD/month2%Up to 5 SGD/withdrawalYesYesYes50 SGD
UOB Business Debit Card35 SGD/month fall below fee for SGD business account 36 SGD/annual card feeFee may vary based on account typeUp to 5 SGD/withdrawalYesNoNo50 SGD
SC Business Debit Card50 SGD/month fall below feeUp to 3.5%Networked ATM withdrawals free Up to 60 SGD out of network feeYesNoNo500 SGD
DBS Business Debit CardAnnual fee 40 SGD3.25%Fee may vary based on account typeYesNoNo50 SGD
Maybank Business Debit CardVaries based on account - 35 SGD fall below fee for PremierBiz account2.25%5 SGDYesNoNo50 SGD

*Fees correct at time of research - 25 April 2022


Wise Business Card

The Wise multi-currency business account and Visa debit card is perfect for anyone transacting in foreign currencies, allowing you and your team to spend internationally in person and online with no foreign transaction fees.

  • Visa card - physical and digital cards available
  • Compatible with major digital wallets like Google and Apple Pay for mobile payments
  • Multi-currency functionality with no foreign transaction fees
  • Order additional cards for employee spending, to track and manage expenses
  • No minimum balance and no monthly fee

If you or your team need to travel for business - or if you have customers, suppliers or staff overseas - the Wise account can save you money, offering currency conversion with the real exchange rate and low, transparent fees.

Wise-card-business

Spend with your Wise business card to avoid foreign transaction fees which can add 2% - 3% to every purchase made with a regular bank, and get a better exchange rate every time. Get a full feature Wise business account for a one off payment of 54 SGD, and order cards for yourself and your team for 4 SGD each.

Learn more about Wise Business

OCBC Business Debit Card

If you already have an OCBC business account you’ll be able to easily access either a physical or digital OCBC business debit card¹ for day to day spending.

  • Mastercard - physical and digital cards available
  • Compatible with major digital wallets for mobile payments
  • 0.2% - 0.5% cashback on spending
  • Rewards and member perks offered
  • Monthly fees may apply, depending on the specific business account you prefer
  • Online and mobile banking for convenience

Anyone with an OCBC business bank account can also access an OCBC Mastercard debit card - the digital cards are instantly available simply by logging into your online banking service. You can also order physical cards if you’d prefer.

OCBC-business-debit-card

If you don’t already have an OCBC business account you might be able to get one opened online, depending on your personal circumstances. Different accounts have different features and fees - including maintenance fees and early closure fees in many cases². Review the accounts offered to make sure you’re picking the right one for your needs.

UOB Business Debit Card

Get a branded, all in one business debit card with the UOB business current account.

  • Physical card on the Mastercard network
  • Contactless payments
  • 0.3% cash back, plus cardholder rewards available
  • Design your own card to feature your company logo

The UOB business debit card³ can be personalised to your company, to show your logo or other important information. Cards can be used for contactless payments globally, wherever you see the Mastercard logo displayed. All spend will attract a 0.3% cash back, and there are also other UOB member privileges and rewards based on your account usage.

UOB-business-debit-card

The UOB business current account has a minimum balance of 10,000 SGD a month, with a fall below fee of 35 SGD a month if you fail to maintain this balance. There are also annual card and account fees to consider, plus an early closure penalty of 50 SGD⁴⁵.

SC Business Debit Card

Standard Chartered business bank account holders can apply for an SC business debit card⁶ to make it easier to spend and make withdrawals.

  • Physical Mastercard - available upon application if you hold an SC business account
  • Contactless and NETS payments available
  • Get spending rebates and exclusive cardholder savings
  • All transactions included in consolidated account statement for convenience

The SC business debit card offers automatic rebates of up to 15% on different spending categories, including office expenses, travel and more. There are also a range of perks for cardholders, featuring dining, lifestyle and travel benefits.

Standard-Chartered-business-debit-card

The fees involved in using the SC business debit card will depend on the linked business account you hold⁷. Costs and minimum balance requirements vary quite significantly so it’s worth weighing up your choices before you get started with a Standard Chartered business bank account.

DBS Business Advance Debit Card

DBS business debit cards⁸ are available to customers with a DBS business bank account, offering spending rebates, travel accident insurance and more.

  • Visa debit card, for global use
  • 0.3% cash back on spending
  • Some complimentary insurance offered, depending on the account details
  • No annual card fee (linked business bank accounts have fees which still apply)

You’ll be able to apply for a DBS business debit card if you have a DBS business bank account - or if you’ve not opened your account just yet, get the whole process started online. DBS business debit card customers can set their own transaction limits, make withdrawals and spend around the world, and unlock card holder benefits and privileges.

DBS-Business-Advance-debit-card

It’s worth noting that fees do apply to the card, including a 3.25% foreign transaction fee if you’re paying for something internationally when you travel or shop online⁹.

Maybank Business Platinum Visa Debit Card

Maybank customers holding a corporate current account product can also get the Maybank Business Platinum Visa Debit Card¹⁰ for easy daily spending.

  • Physical card issued on the Visa network
  • Contactless payments allowed
  • Earn Treats points on spending in Singapore dollars and Malaysian ringgit
  • Get complimentary travel insurance when you book tickets with your card
  • Cash withdrawals 5 SGD/each

The Maybank business debit card allows contactless payments, and cash withdrawals around the world. You’ll be able to earn points on spending which can be traded in for airmiles, vouchers or other handy benefits - and if you book your travel using your card you may also qualify for some complimentary travel insurance to keep you and your things safe while you’re away.

Maybank-Business-Platinum-Visa-Card

The overall costs of using a Maybank business card will depend on the specifics of the account you hold. There may be a minimum balance to consider, with fall below fees applying if you don’t maintain that funding level. International card spending can also prove costly, with a 3.25% foreign transaction fee on all purchases¹¹.


Summary

Choosing the right business debit card for your needs can mean you save money, and get easy convenient ways to spend for both you and your team. Use this guide as a starting point to pick the best card - or cards - for your business. And don’t forget, if you’re transacting internationally, check out the Wise multi-currency business account and card as a smart way to save.

Get a Wise Business account

Sources:

  1. OCBC Business debit card
  2. OCBC Business Account - fees
  3. UOB Business Debit Card
  4. UOB Business Debit Card - fees
  5. UOB Business account - service fees
  6. SC Business Debit Card
  7. SC business banking fees
  8. DBS Business Debit Card
  9. DBS business accounts pricing guide
  10. Maybank Business Debit Card
  11. Maybank business card fees

Sources checked on 26.04.2022


This publication is provided for general information purposes only and is not intended to cover every aspect of the topics with which it deals. It is not intended to amount to advice on which you should rely. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content in this publication. The information in this publication does not constitute legal, tax or other professional advice from TransferWise Limited or its affiliates. Prior results do not guarantee a similar outcome. We make no representations, warranties or guarantees, whether express or implied, that the content in the publication is accurate, complete or up to date.

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