Digital banking is transforming how Singaporeans handle their finances. Unlike traditional banks, digital banks operate fully online—no branches, no queues, and usually fewer fees. Since the Monetary Authority of Singapore (MAS) started issuing licences in 2020, five digital banks have emerged, each designed to meet different needs. Some cater to everyday consumers, while others focus on businesses or cross-border services.

Choosing the right digital bank can be overwhelming, but we’ve done the heavy lifting for you. This article breaks down Singapore’s five main digital banks, compares their features, and helps you decide which one suits your lifestyle and financial goals best.

Quick Overview of Singapore’s 5 Digital Banks

Understanding Digital Bank Types in Singapore

Before diving in, it’s useful to know the different bank categories in Singapore:

• Full Banks: Traditional banks offering a complete range of retail and business services with physical branches (e.g., DBS, UOB, and Trust Bank via Standard Chartered’s licence).
• Digital Full Banks (DFBs): Fully digital banks serving both retail and business clients without physical branches, often focusing on niche segments like gig workers or digital natives (e.g., GXS Bank, MariBank).
• Digital Wholesale Banks (DWBs): Digital-only banks serving businesses and SMEs, specialising in areas like trade finance and cross-border payments (e.g., ANEXT Bank, GLDB).

Meet Singapore’s 5 Digital Banks

Trust Bank

Powered by Standard Chartered and FairPrice Group, Trust Bank stands out with its full banking licence, despite being a digital-first player. With over 1 million users as of early 2026, it ranks as the fourth largest retail bank in Singapore. Trust offers a broad range of services including savings accounts, personal loans, insurance, investments, and the popular “Split Hub” payment feature.

Trust Bank Credit Cards

Trust’s credit card lineup features no annual fees, zero foreign transaction fees, and no hidden charges like card replacement or cash advance fees.

• Earn unlimited 1.0% cashback on all eligible spend.
• Get up to 15% quarterly cashback on your preferred spending category (dining, shopping, travel, wellness, transport, entertainment), with tiered cashback based on spending levels.
• Additional partner discounts up to 20% at selected merchants.
• Real-time cashback tracking via the Trust app.

Trust Bank is ideal for everyday savers looking for rewards and easy banking with no surprise fees.

GXS Bank

Targeting side hustlers and gig economy workers, GXS Bank offers daily interest payouts and flexible savings pockets. Its partnerships with Grab and Singtel provide extra perks tailored to the modern digital lifestyle.

MariBank

Designed for online sellers and Shopee enthusiasts, MariBank integrates seamlessly with e-commerce platforms and offers unlimited 1.7% cashback—perfect for frequent online transactions.

ANEXT Bank & Green Link Digital Bank (GLDB)

Both business-focused digital wholesale banks, ANEXT and GLDB specialise in multi-currency accounts, SME trade finance, and green supply chain lending. They serve exporters and regional SMEs looking for efficient trade and finance solutions.

Which Digital Bank is Right for You?

• Choose Trust Bank if you want a user-friendly, rewards-packed retail bank with trusted backing.
• Go for GXS Bank if you juggle multiple income streams or gig work.
• Pick MariBank if you’re active in e-commerce, especially on Shopee.
• Opt for ANEXT Bank or GLDB if your focus is on business banking and cross-border trade.

Final Thoughts

Singapore’s digital banking scene offers diverse options tailored to different needs. By understanding what each bank specialises in and the perks they offer, you can pick the digital bank that matches your lifestyle and financial goals, helping you manage money smarter and more efficiently in 2026.