Check these seven Wise alternatives for Singapore businesses, covering multi-currency accounts, cross-border payments, corporate cards, and transaction fees
Key takeaways
- Wise Business in Singapore offers multi-currency accounts and business cards for a one-time fee of S$99
- WorldFirst, Airwallex, Payoneer, Aspire, YouBiz, Revolut Business and PingPong Payments are Wise alternatives for Singapore-based businesses
- WorldFirst offers a multi-currency account with zero opening fees and a Mastercard-powered World Card supporting 150+ currencies
- Fee structures, currency support, virtual card limits, marketplace payout capabilities and forward contracts vary across providers
Wise (formerly TransferWise) is a global payments provider offering personal and business accounts to manage international payments. Wise Singapore’s business account lets you receive and hold 22+ currencies, with local account details for each.1 Businesses can also apply for the Mastercard-powered Wise Business Card, supporting payments in 40+ currencies across 160+ countries.2
You pay a one time cost of S$4 for each employee card and can issue up to 3 virtual cards at a time.3 Wise doesn’t support forward contracts in Singapore. Businesses trading in higher transaction volume, especially CNH transactions may want to consider Wise alternatives in Singapore.
Why consider an alternative to Wise in Singapore?
Here’s why Singapore businesses should consider a Wise alternative:
- Charges a one-time payment of S$99 to open local currency accounts4
- Caps virtual cards at three at a time, plus one physical card3
- Charges a separate fixed fee of US$6.11 for receiving USD wire and SWIFT payments4
- Does not offer forward contracts to lock in future exchange rates
- Does not offer CNH currency accounts, which may matter for businesses paying Chinese suppliers directly
Best Wise alternatives in Singapore
1. WorldFirst
WorldFirst is an international payments provider offering World Account, a multi-currency account for managing cross-border transactions. You can receive and hold payments in 20+ currencies. There are zero setup fees to open a World Account or receive money through it. Forward contracts are available for Singapore businesses to lock in an exchange rate ahead of a future transfer.
World Card is a Mastercard-powered virtual debit card linked to your World Account. It supports payments in 150+ currencies and offers zero FX fees in 15 supported currencies (provided sufficient balance is held in that currency). Businesses can issue up to 20 World Cards at zero cost and set spending limits on them.
World Pay is an authorised international payment provider for 1688.com. It allows you to make payments on 1688 in CNH from your World Account balance.
Key features:
- Local currency accounts in 20+ currencies, including SGD, USD, GBP, EUR, CNH, AUD, NZD, JPY and HKD
- Send payments in 100+ currencies across 200+ countries and regions
- Receive payments from 130+ marketplaces and payment gateways, including Amazon, Shopify, Stripe and Etsy
- Instant transfer between World Accounts for Zero fees
- Forward contracts are available for Singapore businesses to lock in an exchange rate
- Xero and NetSuite integrations for reconciliation
| Fee type | World Account |
| Account opening fee | Zero |
| Monthly fee | Zero |
| Opening local currency accounts | Zero |
| Receiving payments | Zero |
| Holding funds in multiple currencies | Zero |
| Sending payments to other World Account holders | Zero |
| Sending payments to other accounts | US$1 for local transfers, US$5 for international transfers |
| Currency conversion | Up to 0.6% |
| World Card issuance | Zero for up to 20 cards |
| Payments to 1688.com suppliers via World Pay | Up to 0.8% currency conversion fee |
*Fees checked in September 2026
→ Take a look at how World Card vs Wise Card stack up against each other
2. Airwallex
Airwallex is a global payments and financial platform offering multi-currency business accounts to manage international payments. WIt allows Singapore-registered businesses to receive and hold balances in 20+ local currency accounts and send payments to 200+ countries.7
With the basic Explore plan, Airwallex issues up to 10 multi-currency corporate and employee cards with adjustable spending limits.8 You can spend directly from your held currency balances, with zero foreign transaction fees (provided sufficient balance is held in that currency).8
| Pros | Cons |
|
|
| Fee Type | Airwallex pricing10 |
| Monthly fee |
|
| Account opening fee | Zero |
| Receiving fees | Zero |
| Sending fees |
|
| Currency conversion |
|
Fees checked in September 2026
→ Take a look at the complete Airwallex Singapore review and Airwallex alternatives in Singapore
3. Payoneer
Payoneer is a global payments provider supporting spending in 70+ currencies across 190+ countries with its multi-currency accounts.11 Businesses can send and receive payments through local receiving accounts in 10 major currencies, including SGD.12 You can also send electronic payment requests to international clients, with options to pay via credit cards, ACH bank debits or bank transfers.13
Payoneer connects with 2,000+ marketplaces and platforms, such as Amazon, eBay, Upwork and Fiverr.11 Payoneer offers single currency cards, with each card linked to one of the four supported currencies.14
| Pros | Cons |
|
|
| Fee Type | Payoneer pricing15 |
| Annual account fees | *US$29.95
*If you receive less than US$6,000 in any 12 consecutive months |
| Account opening fee | Zero |
| Receiving fees |
|
| Sending fees |
|
| Currency conversion | Not specified |
Fees checked in September 2026.
4. Aspire
Aspire is a Singapore-based fintech provider offering multi-currency business accounts, corporate payment cards, and expense management tools for startups and SMEs. Businesses can open accounts in SGD, USD, EUR, GBP, MYR, PHP, IDR and VND, and can send and receive payments in 30+ currencies across 130+ countries.16,17
Aspire business account holders can issue and manage unlimited virtual cards with built-in spending and transaction controls. Aspire also provides access to yield products on SGD and USD balances with no lock-ins and next-business-day access to your money.18
| Pros | Cons |
|
|
| Fees | Aspire pricing19 |
| Monthly account fees |
|
| Account opening fee | Zero |
| Receiving fees |
|
| Sending fees |
|
| Currency conversion | 0.22% onwards |
Fees checked in September 2026
→ Take a look at the complete Aspire review and Aspire alternatives
5. YouBiz
YouBiz is a digital multi-currency business account built by YouTrip for Singapore-based startups and SMEs managing cross-border transactions. The account lets you hold, exchange, and receive international payments in 9 currencies across 150+ countries. Users can also send payments across 20 currencies, with zero FX fees.20
Business account holders can issue unlimited virtual corporate cards with zero FX fees when paying in supported foreign currencies. Cards also offer 1% cashback on eligible purchases with no cap on minimum spend.21
| Pros | Cons |
|
|
| Fees | YouBiz pricing20 |
| Monthly account fees | Zero |
| Account opening fee | Zero |
| Receiving fees | Zero |
| International transfer fees | Not specified |
| FX conversion | Not specified |
Fees checked in September 2026.
6. Revolut
Revolut is an international payments provider offering personal and business accounts to manage global payments. With Revolut’s multi-currency business accounts, you can hold funds in up to 30 currencies and send payments to 150+ countries.24 Businesses can issue up to 50 virtual cards and 3 physical cards per team member, with per-card spend controls across 150+ currencies.25
Revolut Business supports batch payments, letting you process payroll, supplier payments and other bulk transfers in a single upload.
| Pros | Cons |
|
|
| Fees | Revolut pricing25 |
| Monthly account fees |
|
| Account opening fee | Zero |
| Receiving fees | Not specified |
| Sending fees | Domestic: S$0.20 (for transactions outside your monthly allowance) International: S$8 each (outside your monthly allowance) |
| Currency conversion | 0.6% fee applies above the allowance, and a 1% fee applies outside market hours |
Fees checked in September 2026
→ Take a look at the in-depth Revolut Singapore review
7. PingPong Payments
PingPong Payments is a cross-border digital payments provider that lets Singapore-registered businesses accept local payments in 20+ currencies across 20+ markets.27 It offers pricing from 10+ global banks and lets you lock in exchange rates, with 90-day settlement time across 300+ currency pairs.28
PingPong Payments offers multi-currency corporate cards, with auto top-up and low-balance alerts. For businesses in Singapore, cards run on the Discover and Citi networks and offer settlement in USD, GBP, EUR, AUD or JPY.29
| Pros | Cons |
|
|
| Fees | PingPong Payments |
| Monthly account fees | Not specified |
| Account opening fee | Not specified |
| Receiving fees | Not specified |
| Sending fees | Not specified |
| Currency conversion | Not specified |
Fees checked in September 2026.
Wise alternatives in Singapore: Head-to-head comparison
| Feature | WorldFirst | Airwallex | Payoneer | Aspire | YouBiz | Revolut | PingPong Payments |
| Monthly fee | Zero | S$0- S$399+ | US$29.95 (annually) | S$0 – S$15 | Zero | S$0- S$417 | Not specified |
| Account opening | Zero | Zero | Zero | Zero | Zero | Zero | Not specified |
| Receiving fees | Zero | Zero | Zero (same currency)
Fixed fee or 1% (other currencies) |
Zero for local SGD receiving transfers
When received via SWIFT S$35 |
Zero | Not specified | Not specified |
| Sending fees | Local transfers US$1
International transfers US$5 |
Zero for local currency transfers
SWIFT payout fee: US$20-US$35 |
Credit card: Up to 2.90% + $0.49
ACH bank debit (US): 1% PayPal (US): 3.99% + $0.49 Local Bank transfer: 1% Direct bank payment (UK only): 1% |
US$15 for SHA
US$30 for OUR |
Not specified | Domestic: S$0.20 (for transactions outside your monthly allowance)
International:S$8 (for transactions outside your monthly allowance) |
Not specified |
| Currency conversion | Up to 0.6% | 0.4% above interbank rates for major currencies
0.6% for all other currencies |
Not specified | 0.22% onwards | Not specified | 0.6% fee applies above the allowance
1% fee applies outside market hours |
Not specified |
| Card availability | Zero for up to 20 cards | 10 – unlimited | Single currency physical and virtual cards | Unlimited virtual cards | Unlimited | Up to 50 virtual cards | Multi-currency virtual cards |
| Marketplace payout support | 130+ | Available | 2000+ | Available | Available | Available | Available |
| 1688.com supplier payments | Available with World Pay | Unavailable | Unavailable | unavailable | Unavailable | Unavailable | Unavailable |
| Forward contracts | Available | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Available |
Fees checked in September 2027
Find the right Wise alternatives in Singapore
There is no one perfect alternative to Wise. Each provider in this evaluation differs in terms of supported currencies, international transfer limits, local currency accounts, card availability, FX, fees, and additional features. Businesses in Singapore can evaluate these providers based on their global payment needs.
FAQs
1. What are the best alternatives to Wise in Singapore?
WorldFirst offers a dedicated CNH account, is an authorised international payment provider for 1688.com, and provides forward contracts to lock in exchange rates ahead of a payment. Businesses can issue up to 20 multi-currency virtual cards at no cost to pay across 150+ currencies.
2. Is Wise Business available in Singapore?
Yes. Wise Business is available in Singapore, offering multi-currency accounts, business cards and international transfers. It operates in Singapore as Wise Asia-Pacific Pte Ltd and is regulated as a Major Payment Institution by the Monetary Authority of Singapore (MAS).
3. What are the Wise Business plans in Singapore?
Wise has zero registration or monthly fees, but charges a one-time payment of S$99 to activate local currency accounts and corporate cards.
4. Which Wise alternative supports payments to Chinese suppliers?
WorldFirst lets businesses pay their Chinese suppliers in CNH with WorldPay, an authorised international payment provider for 1688.com. You can source the products and make supplier payments without the need for an agent. Payment providers like Airwallex, YouBiz, Aspire, Revolut, and PingPong Payments support payments to Chinese suppliers through a third-party partner or SWIFT transfer.
5. Do Wise alternatives offer business cards in Singapore?
Yes Wise alternatives like WorldFirst offers Mastercard powered World Card supporting payments in 150+ currencies. You pay no fees when paying in any of the 15 supported currencies, provided sufficient balance is held in that currency. Businesses can issue up to 20 virtual cards at no cost with zero annual fees.
6. Does Wise act as a bank account?
No. Wise is not a bank. It is an international payment provider that lets you receive and hold funds. .
Sources
- https://wise.com/sg/business/receive-money/
- https://wise.com/sg/business/card
- https://wise.com/sg/virtual-card/
- https://wise.com/sg/pricing/business/receive
- https://wise.com/sg/pricing/business/card-fees
- https://wise.com/help/articles/2978013/what-are-the-fees-and-limits-for-receiving-money
- https://www.airwallex.com/en-sg/business-account
- https://www.airwallex.com/en-sg/pricing
- https://www.airwallex.com/en-sg/payments/payment-links
- https://www.airwallex.com/en-sg/terms/fee-schedule
- https://www.payoneer.com/en-in/business/
- https://www.payoneer.com/en-in/multi-currency-account/
- https://www.payoneer.com/en-in/get-paid-by-clients/payment-request/
- https://payoneer.custhelp.com/app/answers/detail/a_id/18226#Q2
- https://www.payoneer.com/en-in/about/pricing/
- https://aspireapp.com/corporate-card
- https://aspireapp.com/business-account
- https://aspireapp.com/yield
- https://aspireapp.com/pricing
- https://www.you.co/biz/
- https://www.you.co/biz/corporate-cards/
- https://www.you.co/biz/expense-management/
- https://www.you.co/biz/fx-transfers/
- https://www.revolut.com/en-SG/business/
- https://www.revolut.com/en-SG/business/business-account-plans/
- https://www.revolut.com/en-SG/business/cards/
- https://www.pingpongx.com/sg/business/account-global-accounts
- https://www.pingpongx.com/sg/business/account-fx
- https://www.pingpongx.com/sg/business/account-get-a-card
- https://www.pingpongx.com/sg/business/account-checkout
This article is intended for informational purposes only and does not constitute legal advice or professional advice. This article should not be regarded as constituting an offer or a solicitation to buy or sell any regulated or financial products or services. WorldFirst makes no representations or warranties regarding the accuracy, completeness, or applicability of the content, and readers are encouraged to consult with legal professionals or other professionals for advice tailored to their specific situation. WorldFirst does not guarantee the accuracy and completeness of this article and expressly disclaims any and all liability to any person in respect of the consequences of anything done or omitted to be done wholly or partly in reliance on this article.
