Daily interest for your business with GXS Biz Account
Daily interest for business growth.
Now serving Sole Proprietors
Download the GXS Bank app.
Now serving Pte Ltd companies and Sole Proprietors
Daily Interest on your balances.
Grow your deposits faster with interest credited daily. Earn 1.88% p.a on every deposit, every day, insured by SDIC.
Zero fees, no lock ins.
Never worry about hidden costs. There are no fall below, domestic transfer, or annual fees. No minimum balance needed too.
Easy transfers, easier tracking.
Receive unlimited FREE payments from your customers through PayNow. Make outward payments seamlessly and without cost via FAST and PayNow. Track every inflow and outflow on the app in real time.
Save your Grab earnings.
Exclusively for Grab merchant partners:
Cash out earnings to GXS Biz Account without fees.
Bank conveniently on a secure app.
Make payments or check on transactions quickly and securely on the GXS Bank app.
Biz Account Daily Interest Calculator
Exclusive benefits from Grab and Singtel just for you.
Perks from Grab2
3 months 12KM Islandwide Delivery subscription fee waived.
Activation fee rebate credited as cashback when you change your Grab Merchant settlement Account to GXS Biz Account.
GrabPay in Store & Online: 0.5% Merchant Discount Rate rebate for 1 month.
Navigate with ease.
How to repay: Quick pay your monthly instalment
How to switch GXS Biz Account as your GrabMex app Settlement Account
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Sign up in under 4 minutes. No paper work, no branches.
Got questions?
We got answers.
What is GXS Biz Account?
GXS Biz Account is an interest-bearing current account that is specifically designed for sole proprietorship business owners. The GXS Biz Account offers interest up to 2.38% p.a. (base interest rate of 1.88% p.a. and launch promotion bonus interest rate of 0.5% p.a.). Campaign Terms apply for launch promotion bonus interest.
What do I need to Open GXS Biz Account?
We're excited to have you on board! To open a GXS Biz Account, you'll need to:
- Be at least 18 years old
- Have a residential address in Singapore
- Be a Singaporean citizen or Singapore Permanent Resident
- Have a Singpass Myinfo account
- Have a sole proprietorship with an active ACRA registration account
Make sure that your sole proprietorship details and residential address are updated on ACRA and Singpass respectively, before signing up for an account.
If you require assistance on your Singpass access, you many contact Singpass Helpdesk directly.
How is daily interest calculated for GXS Biz Account?
You earn interest daily based on the balance of your GXS Biz Account at the end of each day. Base interest earned on the account balance is 1.88% per annum.
We multiply your balance by the interest rate per annum over 365 days. Interest will be credited to your account when you earn at least S$0.01 in accumulated interest.
For example, based on an interest rate of 1.88% per annum applicable on balances in your GXS Biz Account:
On 19 September 2024, your balance in your GXS Biz Account is S$40,000. You will earn an accrued interest of S$2.06027. S$2.06 will be credited to your account on 20 September 2024 morning. Your balance will now be S$40,002.06. The remaining S$0.00027 will continue to accrue the next day.
Are there any service charge or fees with my GXS Biz Account?
You'll be pleased to know that there are no hidden service charges or fees for GXS Biz Account.
Are my GXS Biz Account deposits with GXS Bank protected or insured?
Your deposits in your GXS Biz Account are insured up to S$100,000 by the Singapore Deposit Insurance Corporation (SDIC), under the Deposit Insurance Scheme. Here's a description of the scheme:
Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
What rewards can I look forward to as both a GXS Business Banking customer and a Grab Merchant?
We have multiple rewards for our GXS Business Banking customers which are new and existing Grab Merchants. Depending on which vertical of Grab Pay, Grab Food or Grab Mart, there is an enticing value proposition limited to the first 500 sign ups.
However, the rewards are exclusive for Grab Merchants, subject to GXS Biz Account opening and linking the account as your Grab Merchant settlement account.
For Existing Deliveries (GrabFood & GrabMart) merchants : :Waived 12 km Islandwide Delivery subscription fee for 3 months (U.P from $500/mth for Grab Food , from $280/mth for Grab Mart)
OR
For New to Grab Deliveries (GrabFood & GrabMart) merchants: : Activation fee rebate (U.P up to $300)
OR
For New and Existing GrabPay-only merchants : MDR rebate - GrabPay in store (P2M) and online (ONA): 0.5% MDR rebate for 1 month (capped at $300).
Which Grab Merchant benefits am I eligible for ?
Grab Merchants which have successfully opened a GXS Biz Account and linked it to Grab as their Grab Merchant settlement account, will receive a confirmation email from Grab on the benefits.
Rewards issued by Grab are subject to Grab’s terms and conditions which will apply and be communicated by Grab.
What rewards can I look forward to as both a GXS Business Banking customer and a Singtel customer?
As a valued GXS Bank and Singtel customer, you get access to these exclusive business perks with Singtel:
- Discounted 1Gbps Biz Broadband on a 24-month contract.
- 3 free months of a Biz SIM Only Plan.
- A free Digital Marketing Package (for the first 10 eligible customers).
- A 12-month discount on Business CAST.
- A free 12-month subscription to Business Loyalty Lite.
Please note that Singtel's terms and conditions apply and Singtel rewards are fulfilled by Singtel only.
How do I redeem my Singtel rewards as a GXS Business Banking customer?
We will send all the details regarding Singtel reward fulfillment via email to your registered business email address in our records. Please check your inbox for the steps to redeem your Singtel rewards.
GXS Bank is a separate entity and is not associated with the businesses of Grab, Singtel and their entities. The GXS Biz Account and GXS FlexiLoan Biz are provided by GXS Bank. GXS Bank holds a banking licence and is regulated by the Monetary Authority of Singapore.
Deposit Insurance Scheme: Singapore dollar deposits of non-bank depositors are insured by the Singapore Deposit Insurance Corporation, for up to S$100,000 in aggregate per depositor per Scheme member by law. Foreign currency deposits, dual currency investments, structured deposits and other investment products are not insured.
Account opening is subject to GXS Bank's approval and may require additional supporting documents and processing time.
1T&C apply. For full terms and conditions click here.
2T&C apply. For full terms and conditions, please visit business.gxs.com.sg. For Singtel and Grab benefits, please refer to Ecosystem Terms - Grab and Biz Ecosystem Terms - Singtel.
Eligible GrabMerchant partner is applicable for Grab Merchants who link their Grab Merchant account to their GXS Biz Account and receive at least 1 cashout transaction into their GXS Biz Account in a calendar month.
Eligible Singtel customer is applicable for Singtel users who are GXS Biz Account holder AND existing/new-to-Singtel retail with at least 1 Singtel postpaid service (Postpaid, GOMO or heya), Broadband, TV or Fixed Line or SMB customer.
Full Terms and conditions apply, please visit:
Business Account Terms here.
Business FlexiLoan Terms here.
Ecosystem Terms - Grab here.
Ecosystem Terms - Singtel here.
GXS SG60 Promo terms here.
