GXS Bank is backed by a Grab–Singtel consortium and launched in August 2022 with an MAS digital full bank (DFB) licence, targeting gig workers, entrepreneurs and early-jobbers in Singapore.
Requires a Singapore NRIC/FIN plus Singpass; foreigners need a valid work pass (EP/SP/WP), a Singapore address and a local mobile number. Tourists on short-term visit visas cannot apply.
These are stable, standing account benefits (not time-limited) — available as long as you qualify:
No. GXS only accepts applicants aged 16+ with a Singapore NRIC/FIN and Singpass; foreigners must hold a valid work pass (EP/SP/WP) and a Singapore address. Short-term visit-pass tourists cannot open an account.
No initial deposit is required and there is no minimum balance — the account can be opened and kept at S$0.
Have your NRIC or FIN, a valid work pass, your Singpass account and a Singapore mobile number ready; address proof is only needed if MyInfo cannot retrieve it.
Everything is done in the app. With Singpass MyInfo pre-fill, approval typically takes about 5 minutes and no branch visit is needed; manual checks can extend it to a few working days.
Common reasons: no valid Singpass or expired pass, details that do not match MyInfo, applying from outside Singapore, suspected fraud, or the bank being unable to complete KYC verification.
Standing benefits: No Monthly Fee, No Min Deposit, Fully Online, Digital Bank, Fast Approval. Promotions change by region and quarter — always check the bank's official promo page (verified 2026-10).
Having documents ready lowers the chance of rejection; policies change, so confirm with the bank before applying.