Best US dollar accounts in Singapore

Whether you’re a US citizen living in Singapore, or a Singaporean traveling to the US frequently, a USD account can be a handy tool to make cross currency transactions cheap, quick and convenient.

Major local and global banks offer USD accounts to Singaporean residents – but there are also ways to open a USD account in Singapore with specialist services that can be more flexible. You could choose to open a multi-currency account covering SGD and USD from a provider like Wise, for example. This guide covers all you need to know to help you choose the best USD currency account for you.

What is a USD currency account?

A USD currency account is an account which lets you hold US dollars.

You might also be able to hold and exchange other currencies in your account if you choose a USD account with multi-currency features. Other common features include linked debit cards, international transfer services and ways to get paid in USD from others. Some USD savings accounts in Singapore also offer interest on the balance you hold.

What can you do with a USD account in Singapore?

If you’re a US citizen living in Singapore for work or study, or a Singapore citizen who travels to the US a lot for work or leisure, a USD account can be a useful tool.

Different USD accounts have their own features – but these are some of the more common uses for a US dollar account:

• Hold and convert a USD balance: Hold a balance in USD without needing to convert to SGD if you don’t want to. This allows you to save in USD to pay bills or for planned travel, while cutting out unnecessary conversion costs.
• Receive payments in USD: Get paid by others in USD, often with local account details, allowing the sender to make a local payment which is fast, cheap and convenient for them.
• Send payments in USD: If you’re paying bills in the US, a USD account lets you process cross border transfers in a few taps, with options for regular or recurring payments for tuition payments, mortgages and other ongoing commitments.
• Spend and withdraw USD: If you need to spend and withdraw, accounts from providers like Wise offer a debit card for convenient and low cost USD transactions in person and online.
• Save and invest in USD: Investing in the US market is pretty common, and having a USD denominated account can make the costs of currency conversion cheaper. Some accounts also pay interest on unused cash in US dollars.

How to choose a USD account in Singapore?

You’ll find some good USD account products available from major Singapore banks intended for people sending USD payments often. There are also USD accounts which allow customers to hold, exchange and manage other currencies all in one account, usually from specialist providers. Here are the core options typically available:

Multi currency accounts: Multi currency accounts are commonly available from digital providers. You can hold USD alongside many other currencies in a multi currency account which can be a convenient option for people living international lifestyles.

• Wise Account: Hold 40+ currencies, and get a debit card and local account details for receiving 8+ currencies including USD, 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, with the option to pay in USD cheques with fast clearing services. No card service with this account.

Foreign currency accounts: Foreign currency accounts are also offered by banks, often to be used as USD savings accounts in Singapore. These accounts support only 1 currency, and let you hold and send payments in a foreign currency.

• Standard Chartered USD$aver Account: Interest earning USD account with a debit card, with a 10 USD/month fall below fee if you don’t hit the minimum balance.
• Citibank US$ Savings Account: Save 10,000 USD or more, to earn interest on your balance and get a debit card for convenient card spending and withdrawals.

Best USD currency accounts in Singapore

There’s not really one best USD currency account in Singapore, as different products have their own features to suit different customer needs.

You might prefer multi-currency account and card services from providers like Wise or Revolut if you want to hold USD with SGD and other currencies in one account, and spend with your debit card locally and overseas. These services are digital only and do not have a branch network which can be a drawback if you need to deposit cash or checks.

Local banks like DBS and UOB also offer a multi-currency account solution for customers who want to hold a selection of currencies including USD. Plus, there are some USD savings solutions from global banks like Standard Chartered and Citibank for people looking to earn interest on their USD balance.

Here we’ve selected some different providers and banks offering USD accounts in Singapore, looking at convenience, cost and customer intention. Read on to learn more about each and how their USD account in Singapore works.

💡 At a glance
Wise Account	Hold and exchange USD and 40+ other currencies, spend with a Wise card in 150+ countries, send and receive payments globally in SGD, USD, 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 USD 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 USD with a minimum holding balance of 1,000 dollars. Pay in USD cheques, send transfers, and convert in your account conveniently – but there’s no card for spending in stores.
Standard Chartered USD$aver Account	High yield USD savings account from a global bank, with no monthly fee if you hold 10,000 dollars. The account offers a debit card for instant access when you need it.
Citibank US$ Savings Account	Deposit at least 10,000 USD to open your account, and get free Citibank international transfers and a linked debit card to access your money easily.

Wise USD account

Open a Wise Account online or in the Wise app, for personal or business use, and hold USD 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, USD and more.

Accounts offer local and SWIFT details to receive payments, with no fee to receive USD (non-wire, non-SWIFT payments ) to your Wise account. There’s a small Wise fee to receive wires and SWIFT payments. USD wires have a 6.11 USD incoming payment fee.

• Hold and exchange USD 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 USD.

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 USD 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 USD.

• 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: USD, 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 USD account

The DBS My Account is one of the bank’s core products, offering 13 supported currencies including USD. 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 USD
• 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: USD, 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 USD 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 as it offers cheque clearing services it can be useful for people receiving USD payments from abroad.

There’s a minimum balance requirement of 1,000 USD if you want to avoid the fall below fee.

• 10 supported currencies for holding and exchange, including USD
• Chequing services to send and receive 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: USD, SGD and 8 other currencies

Monthly fees: 10 USD fall below fee applies if you don’t maintain a balance of 1,000 USD

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

Standard Chartered USD$aver Account

The Standard Chartered USD$aver Account is a digital high yield USD savings account available to residents of Singapore. This account allows you to save in US dollars while still keeping instant access to your account through a linked card.

Deposits can be made up to 3 million USD. While interest rates do change, this account can offer a high rate of return, with the extra bonus of cash back on card spending.

• High interest earning instant access USD account
• Card option to allow you to spend and withdraw instantly from your USD savings
• International transfer commission from 15 SGD–135 SGD online, plus 50 SGD overseas bank charges

Account opening fee: No opening fee – minimum opening balance of 1 USD, but 10,000 USD required to avoid fall below fees

Eligibility criteria: Available to residents of Singapore

Supported currencies: USD

Monthly fees: 10 USD fall below fee applies if you don’t maintain a balance of 10,000 USD

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

Citibank US$ Savings Account

You can open a Citibank US$ Savings Account with a deposit of 10,000 USD, and get some international transfers with no Citi fees. You’ll be able to hold a balance and earn variable interest, and also get a debit card to allow you to spend and withdraw as you need to.

Check the interest payable before you sign up. At the time of research, 28th November 2025, interest is 0% on the entire account balance.

Account opening fee: No opening fee, 10,000 USD minimum deposit

Eligibility criteria: Available to residents of Singapore

Supported currencies: USD

Monthly fees: None quoted – check directly with the bank for fall below fee information

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

Fees for USD accounts in Singapore

It’s good to know that the fees for USD accounts in Singapore might look a bit different to the charges associated with your regular bank account. You can often find an account with no ongoing fees to pay, but there are usually some transaction fees to think about. Check your account fee schedule to make sure you understand the costs of your account before you transact.

Here are some fees to look out for:

• Monthly fees: Some USD accounts might have a monthly fee, or you might find you have to pay a monthly fall below fee if you don’t maintain a minimum balance. Not all accounts use this sort of ongoing charge – for a low cost alternative check out providers like Wise which don’t charge any maintenance or fall below fees.
• ATM withdrawal fees: If your USD account has a debit card, check if ATM fees apply. Costs can include a fee charged by your own bank or provider, and other charges from the ATM operator. Providers like Wise offer some ATM use each month with no Wise fees to pay*, to help you lower your transaction costs.
• Foreign transaction fees: A foreign transaction fee can push up the costs of purchases in a currency you don’t have in your account by about 2.5%. If you want to spend in currencies other than USD, check your card terms before you spend. This fee doesn’t usually apply on accounts like the Wise Account, which allow you to spend currencies you hold with no fees, and convert with low charges where needed.
• Outgoing transfer fees: Sending payments to and from USD 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. Providers like Wise can often offer lower overall costs compared to your bank.
• 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 USD payments.

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

How to open a USD account in Singapore

The most convenient way to open a USD bank account in Singapore is online. All digital providers, and most banks, offer an online account opening option.

Before you sign up to any USD account read through the eligibility criteria and application process. While this does vary a bit, it’s usually pretty similar across different banks and providers. You’ll normally need to sign up using Singpass and Myinfo if you have an account, or provide proof of ID, tax status, and address manually if not. If you’re a foreigner in Singapore you may also need to provide additional documents linked to your residency type – such as a contract if you’re an Employment Pass holder.

Here’s an outline of the USD account opening process:

With banks: Some banks let you add a USD account online if you already have an SGD account, but you might find you need to go to a branch instead. This isn’t always the most convenient option, but you may be able to book an appointment in advance and then you’ll be talked through the application by a team member on arrival.

With online providers: Specialist providers like Wise don’t have branch locations so you’ll complete your account application, verification and onboarding all digitally. You’re guided through the process by onscreen prompts and you’ll need to use Singpass, or take a snap of your ID and address documents with your phone to get verified.

How to use your USD account in Singapore

Finally let’s look at how using a USD account can help you manage your US dollar payments and transactions with lower fees and less time spent navigating administration. 

• Send international money transfers: Send payments to the US and many other countries with just your phone, often with great exchange rates and low fees. Providers like Wise use their own payment network to make sure you get a super fast transfer time, too.
• Hold and exchange USD and SGD: Keep USD and SGD all in one account to make it easier to budget and plan across different currencies. Multi-currency accounts can also let you manage different currencies for things like saving for travel or to send a payment, too.
• Receive USD payments: Use your USD account to receive USD easily with local or SWIFT account information that the sender can use to initiate your transfer without needing to convert it to SGD.
• Use your debit card for spending and withdrawals: Use your USD debit card to spend and withdraw with low costs and no foreign transaction fees in many cases. Choose a provider like Wise and there’s no fee to spend a currency you hold sufficient balance in, and cheap to convert to any currency you might need to cover a purchase.

Conclusion

There are several different ways to open USD accounts in Singapore, depending on how you need to transact. 

You could pick a USD account from a bank like DBS or UOB if you want ways to hold USD which can be handy for payments and travel use. Or you may prefer an account which is aimed at saving, from a global bank like Standard Chartered.

As a more flexible alternative with broad multi-currency features you might prefer Wise which lets you hold USD along with SGD and 40+ other currencies. Use your account to send, spend, hold and receive USD for day to day payments, travel and bills, with low costs and great exchange rates.

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
• Wise Business Account Requirement
• Revolut – Singapore plan comparison page with pricing information
• DBS – My Account information for new customers 
• UOB – Global Currency account details and links
• Standard Chartered Singapore – USD savings account information 
• Citibank – USD savings account landing page