In this guide · 7 sections
Short answer
DBS for SMEs, launched on 5 August 2026, bundles free workshops and one-to-one advisory sessions, cross-border payment and FX savings, and wider access to loans under the Enterprise Financing Scheme, whose government risk-share rose from 50% to 70% from September 2026 to March 2027.
What DBS announced on 5 August 2026
DBS's press release describes DBS for SMEs as an initiative to help local companies with working capital, digital payments, AI adoption and growth, rolled out with a brand campaign around National Day. DBS says it is the first bank to add support following the Government's second national support package.
| Area | What DBS says it offers | Cost |
|---|---|---|
| Advisory and capability-building | Onboarding workshops and one-to-one advisory for new clients; sessions for healthcare, building and construction, and industrials; programmes for second-generation owners; access to Spark Gen AI and ESG Ready | Free |
| Cross-border payments and FX | More benefits and savings on cross-border payments and FX; reach 190 countries in 132 currencies; lock FX rates in advance without credit lines | Bank pricing applies |
| Financing | More access to project loans, including building and construction, and to working capital loans through the enhanced Enterprise Financing Scheme | Loan interest and fees apply |
DBS says all sessions are complimentary and links a sign-up form for its SME Level Up Arena events. The press release does not list specific fee discounts, so ask your relationship manager what the cross-border and FX benefits are in numbers before switching anything.
The government support behind it: EFS changes and the SME Cash Grant
The financing part of DBS for SMEs depends on government changes announced by the Ministry of Finance on 29 July 2026. The MOF press conference transcript describes a second support package of around S$900 million in response to the continuing Middle East situation.
- Enterprise Financing Scheme (EFS): the Government's risk-share for the EFS SME Working Capital Loan and EFS Project Loan rises from 50% to 70%. Enterprise Singapore's EFS page says this applies from 1 September 2026 to 31 March 2027.
- Project Loan coverage: extended from overseas projects to domestic projects by local construction enterprises.
- SME Cash Grant: a one-off S$500 per local employee, capped at S$2,500 per company, for active SMEs with at least one local employee.
A higher government risk-share makes banks more willing to lend; it does not mean the Government pays the loan. You still apply through a participating bank such as DBS and repay with interest. For EFS SME Working Capital loans, Enterprise Singapore defines an SME as group revenue up to S$100 million or up to 200 employees.
Who DBS for SMEs suits
The initiative is aimed at DBS business account holders and new clients. It is most useful if you match one of these cases.
Worth signing up if
- You already bank with DBS and want free advisory sessions
- You pay overseas suppliers regularly and want FX rate certainty
- You need working capital or a project loan before March 2027
- You run a construction business with local projects
Probably skip if
- You only need a basic account and rarely pay overseas
- You already use a digital business account for FX and are happy with it
- You want a cash grant: the SME Cash Grant is paid by the Government, not DBS
If you are choosing between a bank and a digital business account, our comparison of Airwallex, Aspire and Wise business accounts covers FX fees and features.
The practical setup that makes your DBS account work harder
Advisory sessions help with strategy. Most of the day-to-day time savings, though, come from connecting your bank account to your other systems. These steps apply whether or not you join DBS for SMEs.
Connect a direct bank feed to your accounting software
Xero connects to DBS through DBS IDEAL, with transactions arriving within 24 hours of connecting. One DBS feed cannot connect to two accounting apps at once, so pick one.
Set up bank rules for regular transactions
Rent, subscriptions and card payouts can be matched automatically, so reconciliation becomes a weekly check instead of a monthly chore.
Use payment links and PayNow QR on invoices
Customers pay faster when the invoice has a link or QR code. A payment gateway can also send payouts straight to your DBS account.
Add foreign currency accounts if you trade overseas
If you hold USD or other currencies, check that your accounting plan supports multi-currency feeds (Xero needs its Premium plan for this).
Review user access in DBS IDEAL
Give staff the lowest access they need, require approvals for payments, and remove leavers promptly.
Our guide to Xero bank feeds for DBS, OCBC and UOB covers each bank's connection steps and timings in detail.
How to sign up and what to ask DBS
DBS links a registration form from its press release for SME events, and existing clients can ask their relationship manager. Before committing to any product, get answers in writing.
Questions for DBS
Do it yourself or get help?
Signing up for DBS sessions and talking to the bank is something only you can do. The setup side (bank feeds, invoice templates, payment links, user access) is where outside help saves time and avoids reconciliation mistakes.
IT Sorted is a Singapore-based team of developers with over 10 years of experience. Our Accounting Software Setup (S$490) sets up Xero, QuickBooks Online or Zoho Books in your company name with bank feeds, branded invoices and your accountant invited. Your accountant keeps the books; we set up the software. You pay upfront and send the details in writing.
Frequently asked questions
DBS for SMEs is an initiative DBS SME Banking launched on 5 August 2026. It offers free advisory and capability-building sessions, more benefits on cross-border payments and foreign exchange, and wider access to project and working capital loans through the Government's enhanced Enterprise Financing Scheme. It runs alongside a brand campaign of the same name.
Yes. DBS's press release states that all sessions are complimentary. They include onboarding workshops and one-to-one advisory for new clients, industry sessions for sectors such as healthcare and construction, and programmes for second-generation business owners. Banking products such as loans and FX still carry their normal interest, fees or margins.
From 1 September 2026 to 31 March 2027, the Government's risk-share for EFS SME Working Capital Loans and EFS Project Loans rose from 50 to 70 percent, and Project Loans were extended to domestic projects by local construction firms. It was announced by the Ministry of Finance on 29 July 2026 as part of a second support package.
No. The SME Cash Grant is a Government measure, not a DBS product. Active SMEs with at least one local employee receive S$500 per local employee, capped at S$2,500 per company. The Ministry of Finance said eligible businesses would be notified separately of details such as eligibility criteria.
In Xero, add your DBS bank account and choose the direct feed, then authorise it through DBS IDEAL. Transactions start arriving within about 24 hours. A DBS feed can only connect to one accounting app at a time, and foreign currency feeds need a Xero plan that supports multiple currencies.