If you are a startup and do not qualify for a bank or for some other reason you cannot open a bank account in Singapore, in fact you have 3 main alternatives:
- registration of a fully nominee company, with a nominee director and shareholder resident in Singapore
- Account opening in another country
- account opening in the payment system
The advantage of the first option is the speed with which you can open a bank account for the company and no need to personally fly to Singapore, but the cost of maintaining a fully nominal company is much higher.
Opening an account in another country or payment system gives you the ability to make settlements on behalf of the organization, but does not solve your problems if you need settlements within Singapore. If you don't really care about settling inside Singapore, you can use one of these options, build up connections and contracts with which you can later come to a Singapore bank. In this case, opening a bank account will be much easier for you.