Wise Business offers a multi-currency account and business cards in Singapore for a one-time setup fee. Check out the detailed review of its fees and features
Key takeaways
- Wise Business is a multi-currency account that lets Singapore businesses receive, hold, convert and send money in 22+ currencies
- A one-time S$99 fee provides access to local account details for receiving money in USD, EUR, GBP and more
- The World Account by WorldFirst provides local currency accounts in 20+ currencies, with up to 20 virtual cards and zero account opening/monthly fees
Wise, (formerly TransferWise), is a global payments provider founded in 2011, with Wise Business launched in 2016.1 In Singapore, Wise Business provides a multi-currency account with local account details for 22 currencies, and carries a one-time S$99 setup fee, with sending, converting and receiving fees charged separately.2,3
This review examines Wise Business’s features, fees, cards and payment options in Singapore. It also explores the World Account by WorldFirst, which provides local receiving account details in 20+ currencies.
What is Wise Business?
Wise Business is a business-focused account for sending, receiving, holding and converting money internationally.2 In Singapore, businesses can access local account details for 22 currencies, including USD, EUR and GBP, and hold and convert 40+ currencies.2,4
Businesses can also send payments to teams and suppliers in 160+ countries.4 Plus, Wise Business includes business cards, API integration, batch payments, and accounting integrations.2,5,6 Volume discounts are also available on monthly transfers over GBP 20,000 or equivalent.2
Quick look: Pros and considerations of Wise Business Singapore
| Pros | Cons |
|
|
Wise Business fees: the breakdown
| Fee type | Wise Business Account fees3 |
| Account registration | Zero |
| Opening account details for 22 currencies | S$99 one-time fee |
| Receiving domestic payments | Zero for AUD, CAD, EUR, GBP, HUF, NZD, PHP, SGD and USD |
| Receiving USD wire/SWIFT | US$6.11 per payment |
| Receiving GBP SWIFT | GBP 2.16 per payment |
| Receiving EUR SWIFT | EUR 2.39 per payment |
| Holding funds | Zero |
| Sending payments | From 0.19% |
| Currency conversion | From 0.19% |
| Wise Business card | Zero |
*Fees checked in August 2026. Fees vary by currency
How does Wise Business work?
With Wise Business, Singapore businesses can send and receive payments in multiple currencies.2 Businesses can accept major currencies such as GBP, EUR and USD, with a US routing number for USD payments and an IBAN for receiving Euros.2,8 Once received, funds can then be held, converted or used for payments.2
Businesses can also create invoices, payment links and QR codes, while Wise account details can be connected to marketplaces such as Amazon and Etsy to receive local-currency payouts.2,9,10
Features of Wise Business
Multi-currency account
Wise Business provides account details to receive payments in 22 currencies from customers and marketplaces worldwide.2 Businesses can also hold and convert 49 currencies at the exchange rate plus a conversion cost.3,4 Payments can be sent to teams and suppliers in 160+ countries.4
Wise Business card
The Wise Business card is available in Singapore as a physical or digital card.5 It supports payments in 40+ currencies across 160+ countries and can be used online and in-store, including through Apple Pay and Google Pay.5
Businesses can issue cards to team members and manage their expenses through the Wise app.5 Spending can be monitored with transaction notifications, filters, statements and spending limits.5 The first card has no subscription fee, while additional team cards cost S$4 each.3,7 Up to three business virtual cards can be held at a time by each team member.11
→ Here’s the full Wise business card review
Batch payments
Wise Business allows businesses to create and send up to 1,000 transfers in multiple currencies by uploading a CSV or XLSX file.2,12
Marketplace payments
Businesses can add Wise account details to supported marketplaces such as Amazon and Etsy to receive payouts in the relevant currency.9,10 Wise also provides invoices, payment links and QR codes for requesting payments.2
Accounting integrations
Wise Business can connect with accounting software including Xero, QuickBooks and Sage to sync account activity and support bookkeeping.2
Is Wise regulated in Singapore?
Yes, Wise Asia-Pacific Pte Ltd is regulated by the Monetary Authority of Singapore as a Major Payment Institution under the Payment Services Act 2019.2
How to open a Wise Business account in Singapore
- Register online: Create a Wise Business account and provide the required business details.
- Verify the business: Submit business documents and verify the identity of the relevant owners or representatives.
- Activate your account: Pay the one-time S$99 setup fee to access account details for receiving payments in multiple currencies.3
The World Account: Built for global businesses
The World Account is a multi-currency account by WorldFirst, an international payments provider. It gives businesses access to local receiving account details in 20+ currencies, including USD, GBP, EUR, SGD, CNH, AUD, NZD, JPY and HKD. These account details can be shared with customers, marketplaces, and payment platforms to receive funds in the relevant currency without requiring a separate local bank account in each market.
Once funds arrive, they are held in the corresponding currency balance in the World Account. Businesses can then use those funds to pay suppliers or other recipients in that currency, or convert them before making a payment. The account supports payments in 100+ currencies across 200+ countries and regions.
Key features of the World Account
- Receive funds from e-commerce platforms such as Amazon, Shopify Singapore, Shopee, Lazada and Stripe
- Transfer funds instantly between World Account holders at no additional cost
- Mastercard-powered multi-currency card supporting payments in 150+ currencies, with up to 20 virtual cards at no additional cost
- No FX fees when paying in any of 15 supported currencies, provided sufficient funds are held in that currency
- Forward contracts are available to eligible Singapore businesses for managing certain future currency payments
- World Pay is the authorised international payment provider for 1688.com, supporting payments to Chinese suppliers on the platform
→ Here’s a head-on comparison between the World Card vs Wise Card
Wise Business vs WorldFirst: fee comparison
| Fee | Wise Business Account fees3 | World Account fees |
| Account opening | S$99 | Zero |
| Monthly fee | Zero | Zero |
| Receiving funds |
|
Zero |
| Holding funds | Zero | Zero |
| Sending payments | From 0.19% | USD 1 for local transfers, USD 5 for international transfers |
| Currency conversion | From 0.19% | Up to 0.6% |
| Business card | Zero | Zero for up to 20 virtual cards |
| Payments to 1688.com suppliers via World Pay | Not supported | Up to 0.8% currency conversion fee |
*Fees checked in August 2026. Fees vary by currency for Wise Business
FAQs
1. How much does Wise Business cost in Singapore?
A one-time S$99 fee applies to access account details for receiving money in 22 currencies.3 Sending and conversion fees vary by currency.3
2. Does Wise Business offer a card in Singapore?
Yes. Wise Business cards are available as physical and digital cards that carry a fee and support payments in 40+ currencies across 160+ countries.5
3. Can Wise Business hold foreign currencies?
Yes. Wise Business supports holding and converting 40+ currencies.8
Sources
- https://wise.com/gb/about/our-story
- https://wise.com/sg/business/
- https://wise.com/sg/pricing/business
- https://wise.com/sg/business/send-payments
- https://wise.com/sg/business/card
- https://wise.com/sg/business/api
- https://wise.com/sg/pricing/business/card-fees?sourceAmount=1000&sourceCurrency=SGD&targetCurrency=USD&track=false
- https://wise.com/sg/business/receive-money
- https://wise.com/help/articles/1T5VJXy3aUX3HesEdMqSGe/how-do-i-receive-money-from-etsy-with-wise?origin=search-etsy
- https://wise.com/help/articles/2968914/how-do-i-receive-money-from-amazon-with-wise?origin=search-amazon
- https://wise.com/help/articles/1AqrRndtxosydM2GLR3U6T/getting-started-with-your-wise-digital-card?origin=search-3+wise
- https://wise.com/help/articles/2663240/guide-to-batch-payments?origin=search-batch+payment
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.
