Maybank Business Accounts: Fees, Features, Minimum Balance & More

No matter what type of business you run — from a sole proprietorship through to a large limited company — you need a great business bank account to make it easier to manage your cash flow and finances.

This helpful guide will cover all you need to know about Maybank Singapore business banking products, including:

• Types of Maybank Singapore business accounts on offer, and how to open one
• Maybank business account fees and limits you need to know about
• Maybank corporate cards

As a comparison, we will also look at an alternative to a traditional business bank account — the Wise Business account. Hold multiple currencies in the same account, convert money using the mid-market rate, make and receive quick, safe and low-cost international payments, and save time with smart ways to speed up your day-to-day business banking.

Table of contents
Maybank business banking account offerings The process of opening a Maybank corporate account Opening a foreign currency current account What are the Maybank business account fees? Maybank corporate cards for everyday business spend Save money on international business payments with Wise

Maybank business banking account offerings

Here’s how Maybank business banking structures its core SME accounts and fees.

Maybank FlexiBiz account

The Maybank FlexiBiz account is a current account with tiered interest and low ongoing requirements. If you’re a newer business or SME, you get simple day-to-day banking without locking up large balances.

Here are the key features of the FlexiBiz account:

• Minimum initial deposit: 1,000 SGD
• Interest-bearing — tiered rates published on Maybank’s rates page
• Cheque services available; Maybank charges 0.75 SGD per cheque, for both issuance from 1 November 2023 and deposits from 1 July 2024¹

These are the FlexiBiz fees and thresholds you should know:

• Maybank corporate account minimum balance — average daily: 1,000 SGD
• Minimum balance fee: 10 SGD per month if you fall below the 1,000 SGD average daily balance
• Early closure fee: 50 SGD if the account is closed within 6 months of opening

Choose the Maybank FlexiBiz account if:

• You want to avoid high fall below thresholds
• You still need cheques and basic interest on idle balances
• You prefer to keep start-up cash free for operations

Maybank PremierBiz account

PremierBiz is a current account² that adds higher minimums, cheque facilities and interest. If you run an established SME and keep larger balances, this all-rounder SGD corporate account may suit you.

Here are the key features of the PremierBiz account:

• Minimum initial deposit: 1,000 SGD
• Interest-bearing
• Cheque services available; Maybank charges 0.75 SGD per cheque, for both issuance from 1 November 2023 and deposits from 1 July 2024

These are the PremierBiz fees and thresholds you should know:

• Maybank corporate account minimum balance — average daily: 30,000 SGD
• Fall below fee: 35 SGD per month if the average daily balance is under 30,000 SGD
• Early closure fee: 50 SGD if the account is closed within 6 months of opening²

Choose the Maybank PremierBiz account if:

• You hold larger working balances and want to minimize incidental fees
• You still rely on cheques for some vendor payments
• You prefer an interest-bearing SGD account

Maybank Foreign currency current account — corporate

If you invoice or pay in foreign currencies, Maybank’s corporate foreign currency current account lets you hold and transact in major currencies. You can open accounts in USD, EUR, GBP, AUD, NZD, CAD, HKD, and JPY, among others.

Here are the key features and fees for the Foreign Currency Current Account, by currency:

• Minimum initial deposit: 1,000 USD — or currency equivalent for non-USD accounts
• Maybank corporate account minimum balance — average daily: typically 1,000 units in the account currency, like 1,000 USD, for USD accounts
• Minimum balance fee: typically 5 units per month if the average daily balance falls below the threshold, like 5 USD, for USD accounts³
• Early closure fee: 20 USD if you close the account within 6 months of opening⁴
• You can request a USD chequebook; standard cheque fees apply

Choose the Foreign Currency Current Account if:

• You receive customer payments in a specific currency and want to avoid repeated conversions
• You pay suppliers in their currency and want simpler reconciliation
• You need a USD chequebook for certain counterparties

Other specialist account types

Maybank also provides the following specialist account types:

• Singapore Dollar Current Account — a standard transactional SGD account for everyday banking
• Islamic banking options, such as Current Account-i and Islamic Foreign Currency Corporate Account-i, with compensation fee rules
• Conveyancing accounts for qualifying law firms in Singapore — details available via Maybank’s deposit account listings

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The process of opening a Maybank corporate account

Opening a Maybank corporate account in Singapore is straightforward if your business fits the online eligibility criteria. You start the application with MyInfo Business via Singpass, upload the required documents, and Maybank will follow up if they need anything else. If your profile falls outside the online criteria, the bank may ask you to complete a paper form and visit a branch for verification.

Who can apply online

You can apply online with MyInfo Business if:

• Business incorporated in Singapore
• Sole proprietorship, partnership, or private limited company
• No more than 3 directors/partners/owners, all Singaporeans or PRs
• “Live” business — active on ACRA

What documents you’ll need

Maybank shows the specific list during the online journey. You’ll possibly need the following documents:⁵

• Identification — NRIC/passport — for owners, directors, authorized signatories and users of Business Internet Banking⁵
• Business profile/registration details from ACRA
• Constitution/By-laws or partnership/LLP agreement — where applicable
• Board/partners’ resolution authorizing account opening and signatories
• For societies/clubs/associations: minutes naming office bearers and certified By-laws
• Minimum opening deposit — for example, 1,000 SGD for SGD accounts; 1,000 USD for USD foreign currency accounts

Tip: Provide certified true copies. Maybank specifies who can certify on the form. If Maybank asks you to complete a paper application, the form explains what to bring.

Step-by-step online application

Check eligibility and select an account

Select FlexiBiz, PremierBiz, or SGD Current Account.

Prepare your documents

Have IDs, ACRA info, and any constitution/resolution documents ready before you start the application.

Apply with MyInfo Business

Start your application online. MyInfo Business prefills company and personal details and lets you upload the rest.

Add options in the same journey

During the same application, you can request a Business Debit Card, Business Internet Banking access, a chequebook, and a Foreign Currency Current Account alongside your SGD account.

Verification and activation

Maybank contacts you if they need clarification. Once approved and funded, you’ll get access to Maybank Business Internet Banking to manage payments, statements, and user roles.

Opening a foreign currency current account

If you also need to hold or transact in other currencies, you can add a Foreign Currency Current Account during the same online application used for your SGD account. Supported currencies include USD, EUR, GBP, AUD, NZD, CAD, HKD, and JPY. You can request a USD chequebook if you maintain a USD current account.

Key fees — USD example: minimum balance 1,000 USD, fall below fee 5 USD per month, early-closure fee 20 USD — within 6 months.

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What are the Maybank business account fees?

Before you commit to a business bank account, it’s a good idea to have a thorough look at the fees and charges that are applied.

Here’s a rundown of some of the Maybank business account fees and limits — full details are available online, on the Maybank website⁷ — as well as the Wise Business account fees for comparison:

	Maybank PremierBiz	Maybank FlexiBiz	Maybank Foreign Currency Account	Wise Business account
Minimum opening deposit	1,000 SGD	1,000 SGD	1,000 USD or currency equivalent	0 SGD
Minimum balance	30,000 SGD	1,000 SGD	1,000 USD or currency equivalent	0 SGD
Fall below fee	35 SGD per month	10 SGD per month	5 USD per month	0 SGD
Closure fee (within early closure period)	50 SGD	50 SGD	20 USD	0 SGD

*Details accurate as of 6 November 2025

💡Not sure if Maybank Business fits your needs? ➡️Check out our Review of the Best Business Bank Accounts available in Singapore

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Maybank corporate cards for everyday business spend

Coming from the account comparison above, you may also need a card to manage day-to-day expenses and team purchases. Maybank offers two SME options that pair with your corporate account⁶.

Maybank Business Platinum Mastercard

Use it to consolidate business travel and supplier payments on one statement. You can request employee cards, set individual limits, and track spending by cardholder. Maybank highlights benefits such as limited liability protection for lost cards and the option to feature your company logo. It’s a good fit if you prefer a monthly credit cycle and centralized control.

Maybank Business Platinum Visa Debit Card

Use it for everyday payments from your linked SGD account, ATM withdrawals, and NETS. You can pay local and overseas merchants wherever Visa is accepted, and you earn TREATS Points on eligible Visa spending. It’s a good pick if you want real-time debits rather than a credit line.

Want a quick side-by-side comparison of perks, fees, and which profile each card suits?

➡️ Check out our Maybank business credit card guide

How to contact Maybank business banking support

If you need help with a Maybank corporate account, you can:

• Call the business banking hotline during business hours, Monday to Friday, 9:00 am–6:00 pm
• Submit the online form on Maybank’s website for non-urgent requests
• Visit a branch for face-to-face support

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Save money on international business payments with Wise

💡Need to pay or get paid in foreign currencies? Wise Business could be a better alternative business account as you can hold, send, receive and exchange 40+ currencies all in one place. You’ll always get the mid-market rate with low, transparent fees. Even better, you can connect Wise Business cards to your account to control team spending in real time and reduce admin.

• Hold and manage 40+ currencies for all your international transactions.
• Pay foreign currency bills and ad-hoc business travel expenses using the Wise Business card without hefty foreign transaction fees.
• Get your first Wise Business card for free when you open a Wise Business account.
• Always get the mid-market rate with transparent conversion fees starting from 0.26%.
• Seamless integrations with popular accounting software.

➡️Get started with Wise Business today

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Sources

1. Details about Maybank FlexiBiz Account
2. Details about Maybank PremierBiz Account
3. Service fees of Foreign Currency Current Accounts
4. Details about Foreign Currency Current Accounts
5. Required documents for opening an SME account
6. Details about Maybank Business Cards
7. Maybank business accounts

Sources checked on 6 November 2025