Best GBP accounts in Singapore

If you travel to the UK frequently, send payments abroad, receive a salary in British pounds, or want to diversify your savings and investments, a GBP account in Singapore can help. You can open a GBP account with a digital provider like Wise, or with a global or Singapore-based bank.

Account types, features and fees vary a lot depending on the product you select – with options for everyday spending, saving and business needs. This guide covers all you need to know.

What is a GBP currency account?

A GBP currency account is an account which lets you hold British pounds. Many GBP currency accounts also let you receive GBP payments, send money in GBP to others, or spend with a linked debit card. Singapore banks also offer GBP time deposit accounts which may appeal to savers looking to unlock high interest rates.

Some GBP currency accounts hold British pounds only, while others are multi-currency accounts which support GBP as well as SGD and other currencies.

What can you do with a GBP account in Singapore?

So – why might you want a GBP account in Singapore? Here are some common ways you might want to use your new British pound account:

• Hold a balance in GBP: If you need to pay bills in British pounds, or if you’re planning a trip to the UK and want to hold GBP ready for your travel, holding a balance in pounds can be a huge help.
• Receive payments in GBP: Get paid from friends, family, clients or your employer in GBP without needing to automatically convert back to SGD if you don’t want to.
• Send payments in GBP: Use your account to send GBP payments to others, to cover an international mortgage, pay for international school fees, or send money to family for example.
• Spend and withdraw GBP: With providers like Wise you can spend with a linked card, online and in person, and also get cash in the UK for spending while you’re on your travels.

Types of GBP accounts in Singapore

Here are the most common types of GBP accounts you’ll find in the Singapore market:

Multi currency accounts: Multi-currency accounts support GBP as well as other currencies – providers like Wise let you hold over 40 currencies in one account. A multi-currency account allows you to convert between currencies whenever you want to. Some accounts offer ways to spend with a linked debit card, while most let you send payments in pounds and other currencies.

• Wise Account: Hold 40+ currencies, and get a debit card and local account details for receiving 8+ currencies including GBP, plus SWIFT details for receiving 20+ currencies easily.
• Revolut Account: Hold 25+ currencies and get local details to receive SGD and SWIFT details to receive other supported currencies. Card available for spending and withdrawals.
• DBS My Account: Instant access account supporting 13 currencies, with ways to deposit and withdraw foreign cash in a branch (fees may apply). Link to your DBS debit card easily.
• UOB Global Currency Account: Supports holding and payments in 10 global currencies. No card service with this account but you may be able to get a cheque book or deposit cheques you’re given.

Foreign currency accounts: Foreign currency accounts support only 1 currency, and may be more aimed at people who want to save or invest in a foreign currency. The foreign currency accounts on offer from Singapore banks usually do not have a linked debit card, and tend to be time deposit accounts which require you to lock away your funds for a defined period.

• Standard Chartered Foreign Currency Time Deposit Account: Terms from 1–12 months on GBP deposits, with variable rates depending on the value and term selected. 5,000 GBP minimum placement.
• HSBC Foreign Currency Time Deposit Account: Deposit 25,000 GBP minimum, with terms from 1–12 months, and variable returns on your investment.

Best GBP currency accounts in Singapore

You can open a personal GBP currency account in Singapore with a digital provider like Wise or Revolut, or choose a time deposit account from a bank, like HSBC or Standard Chartered. There are also business account products from banks and specialist providers like Wise or Revolut which support GBP, with business friendly features and perks.

The right account for you will depend on your priorities – from saving and diversifying your investments, through to sending and receiving low cost payments and shopping in GBP with an international debit card.

Here we’ve selected some different providers and banks offering GBP accounts in Singapore for personal and business use, looking at convenience, cost and customer intention.

We’ve got a closer look at each coming up right after the table, so you can decide if any suit your own unique needs.

💡 At a glance
Wise Account	Hold and exchange GBP and 40+ other currencies, spend with a Wise card in 150+ countries, send and receive payments globally in SGD, GBP and more.
Revolut Account	Choose from 3 different account plans which all offer a debit card, and support 25+ currencies for holding and withdrawal. Travel perks available on some account tiers.
DBS My Account	Digital multi-currency bank account supporting GBP as well as 12 other currencies. Accounts have no minimum balance or monthly fee, and offer the option to link to a DBS debit card.
UOB Global Currency Account	10 currencies supported, including GBP with a minimum holding balance of 650 pounds. Hold GBP, send transfers, and convert in your account conveniently – but there’s no card for spending in stores.
Standard Chartered Foreign Currency Time Deposit Account	Unlock favourable exchange rates with a minimum GBP deposit of 5,000 GBP. You’ll need to lock away funds for an agreed term of 1–12 months to avoid fees or penalties.
HSBC Foreign Currency Time Deposit Account	Time deposits from 1–12 months tenor which start from a minimum deposit of 25,000 GBP. Preferential terms for customers with Premier status.

Wise GBP account

Open a Wise Account online or in the Wise app, for personal or business use, and hold GBP alongside SGD and 40+ other currencies all in the same account. You can exchange between currencies in the app with the mid-market rate and low, transparent fees, order an optional debit card for spending and cash withdrawals, and send and receive payments globally in SGD, GBP and more.

Accounts offer local and SWIFT details to receive payments, with no fee to receive GBP (non-wire, non-SWIFT payments ) to your Wise account. There’s a small Wise fee to receive wires and SWIFT payments.

• Hold and exchange GBP and 40+ other currencies
• Mid-market currency exchange with low, transparent fees
• Use your Wise card in 150+ countries for spending and cash withdrawals

Account opening fee: No opening fee for personal customers. Business customers pay 99 SGD for full feature access. No minimum balance

Eligibility criteria: Available to residents of Singapore and many other countries and regions globally

Supported currencies: 40+ currencies, including SGD and GBP.

Monthly fees: None

Exchange rates: Mid-market exchange rates

Feature availability, eligible countries, and limits depend on your location and account type. Not all features are available in all countries.

Revolut GBP account

You can open 3 different types of Revolut Account as a personal customer in Singapore, with additional plan options for business customers. As a personal customer you can choose a Standard plan with no monthly fee, or upgrade to a plan with maintenance fees of up to 21.99 SGD/month.

Higher tier plans offer more no fee transactions, discounts and perks – but all accounts have a linked debit card and ways to convert in the account between 25+ currencies including SGD and GBP.

• Hold and exchange many currencies in the same account
• Select your account plan based on your transaction needs
• Personal and business services offered

Account opening fee: No opening fee, no minimum balance

Eligibility criteria: Available to residents of Singapore and many other countries and regions globally

Supported currencies: GBP, SGD and 25+ other currencies

Monthly fees: Personal customers pay 0 SGD–21.99 SGD/month, business customers 0 SGD–417 SGD/month

Exchange rates: Weekday currency exchange uses the Revolut rate to plan limits. After this fair usage fees of up to 1% may apply depending on the plan. Weekend exchange may attract an extra fee up to 1%.

DBS My Account GBP account

The DBS My Account is one of the bank’s core products, offering 13 supported currencies including GBP. You can link a DBS debit card to your account for convenient spending and withdrawals, and make payments in and out of the account digitally and using cash in a branch.

There’s no opening fee for the DBS My Account, and no minimum balance or monthly fee. If you need paper statements there’s a small monthly charge of 2 SGD – but all statements and account features are available digitally through the DBS app if you want to avoid this cost.

• Hold and exchange 13 major currencies including GBP
• Pay in and withdraw foreign currency cash at a branch (fees may apply)
• Transfer to 50 countries with DBS remit with no transfer fee, or make a telegraphic transfer to 200 countries with additional costs

Account opening fee: No opening fee, no minimum balance

Eligibility criteria: Available to residents of Singapore

Supported currencies: GBP, SGD and 11 other currencies

Monthly fees: No monthly fee

Exchange rates: Bank exchange rates apply, which may include a markup

UOB Global Currency Account GBP account

The UOB Global Currency Account lets you hold 10 currencies for sending and receiving payments. There’s no card with this account so it’s not as well suited to travel spending, but it can be useful for people sending or receiving GBP payments from abroad, or holding a GBP balance for future payments or to invest.

There’s a minimum balance requirement of 650 GBP if you want to avoid the fall below fee.

• 10 supported currencies for holding and exchange, including GBP
• Chequing services to send and receive some foreign cheques for deposit
• International transfers which don’t need conversion have commission from 10 SGD–300 SGD depending on payment value

Account opening fee: No opening fee

Eligibility criteria: Available to residents of Singapore and non-residents with an introducer

Supported currencies: GBP, SGD and 8 other currencies

Monthly fees: 7 GBP fall below fee applies if you don’t maintain a balance of 650 GBP

Exchange rates: Bank exchange rates apply, which may include a markup

Standard Chartered Foreign Currency Time Deposit Account

The Standard Chartered Foreign Currency Time Deposit Account lets you deposit funds for a fixed period of 1 to 12 months, to earn a higher rate of interest than you may find on an easy access account. You’ll need to pay in 5,000 GBP as a minimum, and leave it there for the full term you agree to, to get the most from this account.

Early withdrawals may be subject to penalties, so this account is best for people saving for defined future goals, or looking to earn returns from excess GBP cash.

• Minimum deposit of 5,000 GBP
• Tenors from 1 – 12 months, which often have better interest rates compared to instant access accounts
• Apply online or in the SC app instantly

Account opening fee: No account opening fee. Minimum deposit of 5,000 GBP

Eligibility criteria: Available to residents of Singapore

Supported currencies: GBP

Monthly fees: No monthly fee – fees or penalties may apply if you withdraw your funds early

Exchange rates: Bank exchange rates apply, which may include a markup

HSBC Foreign Currency Time Deposit Account

If you have GBP funds you want to hold for future use, you can open an HSBC Foreign Currency Time Deposit Account to save for anything from one month to one year. This can get you better rates compared to using an instant access account, but there are fees or penalties if you withdraw your money early.

The minimum deposit amount is 25,000 GBP, so consider the term you can commit to carefully to ensure you don’t face penalties for early withdrawal.

• Attractive interest rates which may depend on tenor and value of savings
• Instant renewal options for continuity of your investment
• Choose from 1 – 12 months deposit length

Account opening fee: No account opening fee. Minimum deposit of 25,000 GBP

Eligibility criteria: Available to residents of Singapore

Supported currencies: GBP

Monthly fees: No monthly fee – fees or penalties may apply if you withdraw your funds early

Exchange rates: Bank exchange rates apply, which may include a markup

Fees for GBP accounts in Singapore

The fees for GBP accounts in Singapore can vary a lot depending on the account type and the provider or bank you select. Read the fee schedule carefully before you transact. Here are some fees to look out for:

• Monthly fees: A regular fee charged by some banks, usually on a monthly basis. This fee may be unavoidable, or may be waived if you hold a high enough balance to avoid fall below fees. Providers like Wise don’t charge a monthly fee.
• ATM withdrawal fees: You may find that some ATM withdrawals are available with no fee from providers like Wise* and Revolut, but costs can apply if you withdraw frequently. Bear in mind that not all GBP accounts from banks have a debit card.
• Outgoing transfer fees: Sending payments to and from GBP may incur fees, including costs added to the exchange rate used for currency conversion. Compare both the rate and the fee applied before you transact.
• Incoming transfer fees: Generally with a Singapore bank you’ll pay a fee when you receive a payment to your account. UOB charges 10 SGD for incoming transfers for example. This applies on SGD and GBP payments.

*Wise will not charge you for these withdrawals, but some additional charges may occur from independent ATM networks

How to open a GBP account in Singapore

How to open a GBP account in Singapore might vary slightly depending on the provider or bank you choose. However, the process is relatively similar across most services.

Before you start to open your account do check if you meet the eligibility criteria as banks may require you to also have an SGD account before you can add in a GBP account. Some banks let you apply online, but this isn’t always possible. Digital first providers offer a fully remote onboarding and application.

To open your account digitally you may be able to use Singpass and Myinfo to prepopulate much of the key detail needed. This speeds up the application significantly. If you don’t have a Singpass account or would prefer a manual process you can usually also apply with a passport or NRIC for proof of ID, a proof of address, and details of your tax residency. Foreign residents may need additional paperwork depending on their legal status in Singapore.

With banks: If you’re opening your first account with the bank you may do so online or in app if you have a full Singpass account, but in some cases you might be asked to visit a branch to set up your account. In this case you need to take along your original ID documents, and have a team member talk you through the application process.

With online providers: You’ll be able to open a GBP account with online specialist providers in Singapore with your phone or laptop. Enter the personal and contact information required following the prompts, and complete the details with Singpass. If you don’t have Singpass you can also upload images of the paperwork needed according to the onscreen instructions. Verification and onboarding is all managed digitally.

How to use your GBP account in Singapore

If you’re an expat in Singapore, an international student, or a business owner trading in GBP, having a GBP account in Singapore can help you cut costs and transact with less hassle.

Having a multi-currency account in particular can make it easier to manage your money between your home currency, GBP and SGD, as well as any other currencies you need to receive, hold, send or spend.

Here are some ways expats commonly use their Singapore-based GBP accounts:

• Send international money transfers: If you need to pay bills in the UK from Singapore, using a GBP account can make the transfer process simple and reduce the costs of payments for things like your UK mortgage or transfers back to family.
• Hold and exchange GBP and SGD: As an expat you may need to manage your finances across both GBP and SGD, so being able to see your balance in both side by side, and convert between them, can make it easier to keep on top of your money.
• Receive GBP payments: Use a GBP account in Singapore to receive money from an employer or client in the UK, or to get paid rent from a UK property, for example. Hold your money in GBP until you need it to send to others or spend on your travels.
• Use your debit card for spending and withdrawals: For day to day use, a GBP account with a debit card lets you spend when you’re in the UK or when you’re shopping online with UK retailers, with no additional costs if you hold sufficient GBP balance to cover a payment.

Conclusion

You can open a GBP account in Singapore with a global or Singaporean bank, or a digital first provider like Wise or Revolut. Accounts have different features and fees which makes them better suited to different customer needs.

Singapore banks offer both multi-currency accounts which cover GBP and SGD, and time deposit and other savings accounts for foreign currency holding. Or, as an alternative all round account which lets you send, spend, receive and hold GBP with SGD and 40+ other currencies, check out Wise. Wise offers all the features you need for everyday transactions, no matter which currency you need to use.

Methodology & sources: We compared fees, exchange options, card access, supported currencies, and transfer features using official provider pages and tariffs. Always check current rates and terms with the provider.

Useful resources:

• Wise – Singapore landing page with navigation to pricing and business information
• Revolut – Singapore plan comparison page with pricing information
• DBS – My Account information for new customers
• UOB – Global Currency account details and links
• Standard Chartered – Standard Chartered Foreign Currency Time Deposit Account
• HSBC – HSBC Foreign Currency Time Deposit Account