MariBank Business Account Review 2026: The Best Free SME Bank Account in Singapore?

Zero fees, 1% interest on your full balance, and fully digital onboarding via Singpass — here is everything Singapore business owners need to know about the Mari Business Account.

MariBank’s Mari Business Account is a digital business bank account offered by MariBank, a MAS-licensed digital bank in Singapore backed by Sea Group (Shopee’s parent company). It offers 1.00% p.a. interest on your full business balance, zero monthly fees, zero minimum balance requirements, and fully digital onboarding through Singpass — making it one of the most competitive free business bank accounts in Singapore for SMEs, freelancers, and solopreneurs in 2026. Use referral code 2DCT80WQ to get S$28 cash credited instantly when your application is successful.

Not financial advice. All figures are for educational reference only. Data as at May 2026 unless noted. T&Cs apply to the referral promotion.

Table of Contents

What Is the MariBank Business Account?

The Mari Business Account is a digital-only business deposit account from MariBank Singapore. MariBank is one of Singapore’s four MAS-licensed digital banks, and it is wholly owned by Sea Group — the same company behind Shopee, SeaMoney, and Garena.

Unlike MariBank’s personal Mari Savings Account (which targets individual consumers), the Mari Business Account is designed specifically for Singapore-registered businesses — sole proprietorships, partnerships, and private limited companies. Think of it as your company’s operating account, but without the legacy fees that traditional banks charge.

If you already have a personal MariBank referral code and sign-up bonus, the business account is a separate product with its own referral programme. You can hold both a personal Mari Savings Account and a Mari Business Account simultaneously.

Key Features of the Mari Business Account

Here is a quick summary of what the Mari Business Account offers Singapore SMEs as at May 2026:

Source: MariBank official website, May 2026

The standout feature is the 1.00% p.a. interest on your entire balance — which is 20 times higher than what most traditional banks offer on their business current accounts (typically 0.05% p.a. or less). For a business holding S$50,000 in its account, that is S$500 per year in interest versus just S$25 at a traditional bank.

Interest Rates on Business Deposits

MariBank offers a flat 1.00% p.a. interest on the full balance in your Mari Business Account. Interest is calculated daily based on the previous day’s end-of-day balance and credited to your account daily. There are no tiers, no caps, and no bonus conditions to meet — you simply earn 1% on whatever you keep in the account.

To put this into perspective for a Singapore SME owner:

Source: Author’s calculations based on published rates, May 2026. Interest is indicative and subject to change.

For a small F&B business holding S$100,000 in working capital, that is nearly S$1,000 per year in interest — money that would otherwise sit earning almost nothing in a traditional business current account. This is effectively free revenue just for parking your operating cash in MariBank instead of DBS or OCBC.

Fees Comparison: MariBank vs Traditional Business Bank Accounts

This is where the Mari Business Account really stands out. Traditional banks in Singapore charge significant fees for business banking — monthly maintenance fees, fall-below penalties, and transaction charges that can add up quickly for small businesses.

* DBS monthly fee applies when average daily balance falls below S$10,000. Source: Bank websites, May 2026

The gap is significant. A new business using DBS could pay S$480 per year in monthly fees alone (S$40 × 12 months) if it cannot maintain a S$10,000 minimum balance. With MariBank, that cost is zero — and you earn 1% interest on top of it. For a bootstrapped startup or a freelancer just incorporating, this makes a real difference to your runway.

That said, traditional banks do offer services that MariBank does not (yet) — cheque books, credit facilities, trade financing, and in-branch services. If your business needs those, you may still need a traditional bank alongside your MariBank account. Many SME owners are now running a hybrid setup: MariBank for idle cash (to earn 1% interest) and a traditional bank for credit lines and cheque payments.

Who Is the Mari Business Account Best For?

The Mari Business Account is not going to replace a full-service corporate banking relationship for a mid-size company. But it is an excellent fit for several segments of Singapore’s SME landscape:

Solopreneurs and Freelancers

If you have recently incorporated a sole proprietorship or Pte Ltd to formalise your freelance work, MariBank is the simplest way to open a business bank account in Singapore. No branch visits, no stacks of paperwork, and no fees eating into your margins while you build up revenue. The entire application is done through Singpass in minutes.

Shopee Sellers and E-Commerce Businesses

This is where the Grab/Sea Group ecosystem play becomes obvious. Shopee sellers can link their Shopee seller account directly to their Mari Business Account during onboarding, unlocking one free daily Seller Balance withdrawal. If you are running a Shopee store, this integration alone makes MariBank worth considering — it simplifies cash flow and eliminates withdrawal fees.

Small F&B and Retail Businesses

Hawker stall owners, cafe operators, and small retail shops that receive payments through PayNow or GrabPay will appreciate the zero-fee structure. Every dollar saved on bank fees is a dollar that goes back into the business. The 1% interest on your idle cash is a bonus — think of it as your working capital earning money while it waits to be deployed.

Startups Preserving Runway

Early-stage startups that have raised seed funding and need to park cash somewhere while keeping burn low will find the 1% interest attractive. On a S$250,000 seed round sitting in your MariBank account, you would earn approximately S$2,500 per year — not life-changing, but it covers a month of cloud hosting or a few team meals.

If you are also investing personally, consider using the Singapore retirement calculator to plan your long-term financial goals alongside your business finances.

Eligibility and Documents Required

One of the biggest advantages of the Mari Business Account is its fully digital onboarding. Here is what you need:

Eligibility Criteria

Your business must be incorporated in Singapore (registered with ACRA) as one of the following entity types: sole proprietorship, partnership, or private limited company (Pte Ltd). All owners, directors, partners, and major shareholders (holding 25% or more) must be Singapore Citizens or Permanent Residents.

The principal applicant — the person opening the account on behalf of the business — must have a valid Singpass account.

Documents Required

Here is the good news: no documents need to be uploaded. MariBank retrieves your business information automatically through Myinfo Business via your Singpass login. This means no scanning ACRA BizFile extracts, no uploading NRIC copies, and no waiting days for manual document verification.

Compare this to opening a business account at DBS, OCBC, or UOB — where you typically need to prepare your ACRA BizFile, board resolutions, NRIC copies, proof of address, and sometimes even visit a branch in person. The MariBank process takes minutes instead of days.

How to Sign Up for MariBank Business Account (with Referral Code 2DCT80WQ)

Follow these steps to open your Mari Business Account and claim the S$28 cash bonus:

Step 1: Download the MariBank app from the App Store or Google Play Store (if you have not already).

Step 2: Open the app and select “Mari Business Account” from the product options.

Step 3: Enter the referral code 2DCT80WQ when prompted during the sign-up process.

Step 4: Authenticate with your Singpass. MariBank will automatically retrieve your business details via Myinfo Business — no document uploads needed.

Step 5: Review and confirm your business details, agree to the terms and conditions, and submit your application.

Step 6: Once your application is approved, the S$28 cash bonus will be credited to your Mari Business Account.

The entire process typically takes less than 10 minutes if your Singpass is set up and your business is registered with ACRA.

The S$28 Referral Cash Bonus — How It Works

MariBank’s SME Banking referral programme is straightforward. When you open a Mari Business Account using a valid referral code (like 2DCT80WQ), you receive S$28 cash credited to your new business account once your application is successfully approved.

A few key points about the referral promotion:

The promotion runs during specific campaign periods — as at May 2026, the current campaign runs from 1 May to 31 May 2026 and is limited to the first 1,000 successful referrals. MariBank periodically refreshes these campaigns, so if you are reading this after May 2026, the offer may have been extended or modified.

The S$28 is credited as actual cash — not vouchers, not points, not credits with conditions. It goes straight into your Mari Business Account balance and you can transfer it out immediately if you want.

This stacks nicely with MariBank’s other benefits. You get S$28 cash upfront, plus ongoing 1% interest on your balance, plus zero fees. For a new business just starting out, this is effectively free money for choosing MariBank over a traditional bank.

If you are also looking for personal banking sign-up bonuses, check out the Trust Bank referral code — another digital bank in Singapore with competitive personal banking rates.

Limitations to Know Before You Open

The Mari Business Account is excellent for what it does, but it is not a full replacement for traditional business banking — at least not yet. Here are the key limitations as at May 2026:

No cheque book. If your business still issues or receives cheques (some government agencies and older suppliers still require them), you will need a traditional bank account alongside MariBank.

No credit facilities. MariBank does offer a separate Mari Business Loan product, but the business account itself does not come with overdraft facilities, trade financing, or credit lines. For working capital credit, you would still need a relationship with DBS, OCBC, or UOB.

Limited entity types. Not all business structures qualify. The account is available for sole proprietorships, partnerships, and private limited companies registered with ACRA. If your business is a registered society, charity, or foreign-incorporated entity, you cannot open a Mari Business Account.

All owners/directors must be SC or PR. If your company has a foreign director or a foreign shareholder holding 25% or more, you are currently ineligible. This is a significant restriction for Singapore startups with foreign co-founders.

Overseas transfer fees apply after promotion. While overseas transfers are currently free (waived until 30 June 2026), the standard fee of S$3 per transaction plus agent bank charges will apply after the promotional period ends.

No physical branches. Everything is handled through the MariBank app. If you prefer face-to-face banking support, this may not be ideal — though for most digitally-savvy SME owners, this is actually a benefit rather than a limitation.

For business owners also building personal wealth, consider using tools like the Endowus referral code for investing your personal savings, or explore Trust Bank vs MariBank to compare personal banking options.

Frequently Asked Questions

Not financial advice. The information in this article is for educational purposes only. Always do your own research and consult a qualified financial adviser before making financial decisions. Interest rates, fees, and promotional offers are subject to change — verify current terms on the MariBank official website before applying.