A Guide To The Mari Business Account (Fees, Features, and Benefits)

Ever shopped on Shopee? Then, chances are, you’re familiar with the Mari Savings Account, which offers seamless payment and exclusive rewards on the platform when you check out or top up your ShopeePay wallet with the account. Mari Savings Account is a digital banking solution for retail consumers offered by MariBank, a digital bank owned by Shopee’s parent Sea Group Ltd.

It’s worth noting that MariBank doesn’t just cater to retail consumers, but SMEs, too, with the Mari Business Account and Mari Business Loan. In this article, we’ll explore Mari Business Account in detail (covering its fees, features, and benefits), and explain which types of businesses it’s likely most helpful for.

We’ll also introduce another alternative non-bank business account option, Wise Business.

Mari Business Account vs Wise Business

Here’s a quick comparison between the Mari Business Account and Wise Business.

*Details accurate as of 28 February 2025

**Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

A brief overview of the Mari Business Account

The Mari Business Account¹ is a deposit account specifically targeted at Singapore-based SMEs. Unlike traditional bank options, it doesn’t charge account, banking, and fall-below fees. Mari Business Account offers 2.5% p.a. interest. The interest earnings are credited to your account daily and calculated based on the previous day’s balance². Local transfers are always free.

The Mari Business Account appears especially rewarding for Shopee sellers — it allows them to withdraw their Seller Balance (i.e., earnings from sales) for free daily instead of weekly, which may prove beneficial for sellers who require a consistent, small stream of cash to cover everyday personal- and business-related expenses.

A closer look at Mari Business Account’s fees and charges

There are no fees required to open and maintain the Mari Business Account. While all local transfers are free, the account imposes the following transaction limits and minimum accounts³:

• Minimum transaction amount (all fund transfer): S$0.01
• Per transaction limit (to MariBank accounts): S$500 to S$10,000,000
• Per transaction limit (to other bank accounts): S$500 to S$200,000
• Per transaction limit (PayNow): S$500 to S$200,000

💡Interested in purely digital-native business accounts? Check out our reviews of other fintech business accounts that may suit your needs:

• Airwallex business account
• Revolut Business account
• Youbiz
• GXS Biz Account

How to open a Mari Business Account

Being a seller on Shopee is not a pre-requisite to applying or opening a Mari Business Account. More specifically, a business may open a Mari Business Account if it meets the following criteria¹:

1. Own a registered business with the following entity types: Sole Proprietorship, Private Limited Company with no corporate shareholder(s), Partnership with no corporate partner(s), or Limited Liability Partnership with no corporate partner(s)
2. All Owner(s), Director(s), Partner(s), and Major Shareholder(s) with more than or equal to 25% shareholding, must be Singaporean or Permanent Residents.

There are 2 ways to apply for and open a Mari Business Account. First, if you’re a business owner with an existing Mari Savings Account:

1. Log in to the MariBank app
2. Tap Me on homescreen
3. Tap Apply for a New Product
4. Tap Business Banking

Second, for businesses without an existing Mari Savings Account⁴:

1. Download the MariBank app from the Apple App Store, Google Play Store, or Huawei AppGallery
2. Register for a MariBank account with a valid Singapore mobile number
3. Open a Mari Business Account digitally with Singpass

Applications will be processed instantly or within 1-2 days. The outcome will be communicated via MariBank app push notification, SMS, and/or email (subject to your preferred mode of communication).

Other Mari Business Account offerings

MariBank also offers the following to businesses:

• Mari Business Loan (Credit Line)⁵: Credit limit ranging from S$1,000 to S$200,000 with a simple interest rate from 0.5% per month (effective interest rate from 8.98% p.a.). Repay over 3, 6, 9, or 12 months with no prepayment fees.
• Mari Business Loan (Term Loan)⁶: Loan amounts from S$10,000 to S$300,000 with a simple interest rate from 5% p.a. (effective interest rate from 9.15% p.a.). Repay over 2, 3, 4, or 5 years with no early repayment fees.

Who benefits most from Mari Business Account?

Businesses likely to benefit most from the Mari Business Account are Shopee sellers with local suppliers and staff:

✅ Free local transfers: Meaning you incur no additional charges when paying suppliers and staff based in Singapore.

✅ Free daily Seller Balance withdrawals: Provides financial flexibility (funds could be re-invested into the business or directed toward personal expenses).

✅ 2.5% interest rate on balance: The Mari Business Account offers a decent interest rate with no minimum balance and S$0 fall-below fee.

Is the Mari Business Account right for your business?

At the present moment, the Mari Business Account makes the most sense for small-to-mid-sized Shopee sellers and ecommerce players. These businesses stand most to gain from the Mari Business Account's free local transfers, free daily Seller Balance withdrawals, and decent interest rate on account balance with no minimum balance requirement.

Without the right financial setup, these transactions can quickly become costly and complex. By incorporating Wise Business into your financial toolkit, you gain the advantage of making these international payments with ease and at a lower cost, thanks to the access to mid-market exchange rates and no foreign transaction fees. This means more of your hard-earned money stays in your business, fuelling growth and profitability every step of the way.

⭐ Wise Business also provides a more robust business-centric feature set without the burden of extra monthly fees or subscription charges:

• Free, unlimited local transfers
• Batch payments (pay up to 1,000 people in 1 click)
• Accounting software integration (connect currency accounts to Xero, QuickBooks, etc. in real time to save time on manual admin)
• Hold 40+ currencies and exchange with the mid-market exchange rate, with low forex conversion fees from 0.26%
• Linked international debit cards for spending and withdrawals

Get started with Wise Business today

Sources checked on 28th February 2025