At a Glance: Digital Banks in Singapore
Singapore's digital banking landscape has expanded rapidly, with incumbent banks launching neobank-style apps (DBS digibank, OCBC Frank, UOB TMRW) and new licenses granted to Trust Bank (Standard Chartered/FairPrice Group), GXS Bank (Grab/Singtel), and MariBank (Sea/Shopee). This comparison covers seven leading options, focusing on features critical to working adults: fee structures, savings rates, credit facilities, app usability, and ecosystem integrations.
Pricing and Fees
Most digital banks offer zero-minimum-balance accounts with no monthly fees. DBS digibank, OCBC Frank, and UOB TMRW waive fees for basic services, but charge for fall-below fees on certain savings accounts (e.g., DBS Multiplier requires S$3,000 minimum or S$5 monthly fee). Trust Bank, GXS Bank, and MariBank have no fall-below fees. Trust Bank’s credit card has no annual fee, while GXS and MariBank offer debit cards with no issuance cost. Late payment fees on credit vary: Trust charges S$80, DBS S$100; GXS and MariBank do not offer credit cards yet. Savings interest rates are competitive: GXS offers up to 3.48% p.a. (with savings pockets), MariBank up to 2.5% p.a., Trust Bank 1.5% p.a. (with card spend), while incumbents offer tiered rates (e.g., DBS Multiplier up to 3.8% with salary crediting and spending).
Ease of Use
All seven apps score highly on app store ratings (4.5–4.8 stars). DBS digibank is feature-rich but can be cluttered; OCBC Frank is streamlined for youth but less intuitive for older users. UOB TMRW offers a clean interface with budgeting tools. Trust Bank and GXS Bank are minimalist and fast, with Trust integrating FairPrice Linkup points. MariBank is simple but limited in functionality (no bill payment yet). Onboarding is fully digital: Singpass MyInfo allows account opening in under 5 minutes for all except some incumbents requiring video verification. GXS and MariBank require no minimum deposit; incumbents may need S$1,000 initial funding.
Integrations
DBS digibank integrates with PayLah!, DBS Vickers, and property portals. OCBC Frank links to OCBC securities and insurance. UOB TMRW connects to UOB Mighty (regional) and card rewards. Trust Bank seamlessly syncs with FairPrice Group (Linkup points, Shopee vouchers). GXS Bank integrates with Grab (earn GrabRewards) and Singtel (mobile plans). MariBank is tied to Shopee (Shopee Pay, SeaMoney) and offers no external integrations yet. For budgeting, only Trust and GXS provide automatic expense categorization; others require manual tagging. Open banking APIs are limited: DBS and OCBC offer some, while newer banks have none publicly.
Support
Incumbent banks provide 24/7 phone support (DBS, OCBC, UOB) plus chatbots (DBS digibot, OCBC OneTouch). Trust Bank offers 24/7 chat and phone (local number), with average wait under 2 minutes. GXS Bank has in-app chat only (9am–6pm weekdays) and no phone line. MariBank support is email-only (response in 24 hours). For urgent issues (lost card, fraud), Trust and incumbents are best; GXS and MariBank lack real-time assistance. All have in-app card lock/unlock features.
Best For
DBS digibank: Existing DBS customers, high earners needing multi-product bonuses, investors.
OCBC Frank: Young adults (18–25) who want a simple account with no fees and a debit card.
UOB TMRW: Users who prefer a modern app with budgeting insights and UOB cardholders.
Trust Bank: FairPrice shoppers, credit card users, those wanting a full-featured digital bank with physical support.
GXS Bank: Grab/Singtel users, savers seeking high interest on small balances, gig workers.
MariBank: Shopee-heavy shoppers, minimalists who only need basic banking.
Verdict: Which One for Whom
For working adults who value a full banking suite (credit, savings, investment), DBS digibank or UOB TMRW remain strong choices due to their integrations and support. Young professionals seeking a simple, fee-free account with high savings rates should consider GXS Bank (best for small savers) or Trust Bank (best for credit-building and FairPrice perks). Trust Bank edges ahead for most users due to its zero-fee credit card, 24/7 support, and Linkup rewards. GXS Bank is ideal if you use Grab frequently, but its limited support and lack of credit are drawbacks. MariBank is too bare-bones for most working adults—use it only as a secondary account for Shopee. OCBC Frank is best for students or fresh graduates under 25. Ultimately, the best digital bank depends on your spending habits: if you shop at FairPrice, choose Trust; if you use Grab daily, choose GXS; if you want a traditional bank with digital convenience, stick with DBS or UOB.