What’s the best prepaid card for business expenses in Singapore? 4 options
Last updated: 27 Nov 2025
If you’re searching for prepaid cards to help you track your business expenses, then it’s likely that you’re currently:
- Lacking visibility on your employee spending
- Using multiple bank accounts and debit cards to separate your expenditure
- Spending too much on transaction and FX fees when making foreign purchases
In this article, we’ll help you choose a low-cost prepaid card that streamlines your expense management and rewards you for making daily business purchases.
We’ll also introduce you to the World Card, WorldFirst’s virtual debit card for expense management. While it’s not a prepaid card, it’s designed to help you make business purchases much more simply – in 15 major currencies.
We’ll cover:
- What to look for in a prepaid card
- How WorldFirst’s World Card helps you manage your business expenses
- 3 additional prepaid card options
Register with WorldFirst today and easily track your business expenses with our virtual World Card.
What to look for in a prepaid card
With so many options out there, how do you know which prepaid cards are best for your business?
In our experience working with over a million cross-border businesses, the best prepaid cards should allow you to:
- Create multiple virtual cards: Creating multiple cards allows you to divide up your spending. For instance, one card for SaaS spend, one for shipping logistics and another for team usage. This setup helps you stick to your budget and track expenses more easily, since you can see exactly who made each purchase, when it was made, and why.
- Customise spending limits: You should be able to set unique parameters for each card, such as spending limits, authorised users or caps on the value of each transaction. The best prepaid cards make it easy to freeze, delete or issue new cards in seconds. And once a card’s budget runs out, it shouldn’t automatically draw from your main balance unless you’ve specifically enabled that feature.
- Spend less on FX and transaction fees: The best prepaid cards shouldn’t charge you to set up an account or require you to pay annual maintenance fees. They should also clearly communicate everything you get for free, such as how many cards you can create and any transaction or foreign exchange fees you might incur. This gives you cost transparency, and it prevents small or hidden costs from snowballing.
- Get rewards for your everyday spending: To get the most out of your prepaid card, choose one that rewards your existing expenditure with cashback, points, discounts or internal rewards. Some cards only offer rewards for certain types of purchases or at specific merchants, so make sure to select one that matches your typical business spending to optimise your returns.
Read more: How to choose a virtual debit card for international payments
How WorldFirst’s World Card helps you manage your business expenses
WorldFirst is a cross-border digital payments platform that helps businesses make fast, low-cost payments overseas. With our virtual World Account, you can send payments to over 200 countries in 100+ currencies, and hold funds in 20+ currencies – all in one account.
The World Card is a virtual business debit card linked to your World Account that streamlines the way you manage your business expenses. It’s a debit card that allows you to set limits to spend only what you’ve loaded, which gives you the same functionality as a prepaid card.
Here’s how the World Card helps businesses simplify their business spending:
Create up to 25 virtual cards and divide your expenditure
You can create up to 25 business virtual cards instantly and for free. Each card can be allocated to an employee, project, team or vendor, helping you track expenses clearly and ensure that you never spend over your budget.
Unlike conventional prepaid cards, you don’t preload a balance onto each World Card. Instead, each payment draws from the currency account assigned to each card. For instance, if you spend US$50 on a card, that sum will come from your USD account. If you spend in EUR, you’ll make that payment directly from your EUR balance.
All the currencies you hold are stored in the same World Account. And no matter the currency, you can pay wherever Mastercard is accepted.
Read more: Best corporate cards for small businesses in Singapore: 5 options compared
Set unique parameters for each prepaid card to keep your funds secure
Every business has different spending needs, and with the World Card, you can set unique parameters for each virtual card you create. Set spending limits, add authorised users, and even set caps on the value of transactions.
Each transaction is automatically recorded and can be synced with accounting software like Xero or NetSuite, which reduces your manual reconciliation workload. This also helps you stay on top of your employee expenses, since you can see when a purchase was made, in real time.
And, in the case of a stolen card, you can freeze or delete cards in seconds from your World Account’s online dashboard.
Pay zero FX fees when you spend in 15 major currencies
Foreign exchange fees can quickly add up when managing international expenses. But with the World Card, you’ll pay zero FX fees when spending in 15 major currencies, including SGD, USD, CNH, HKD, and GBP.
There’s no monthly fees, annual card fees, or setup fees to obtain the World Card, and the World Account is also free to open and maintain. It’s a debit card, not a credit card, so there are no interest charges or penalty fees.
For Singapore users, the card is currently available virtually, with a physical card option coming soon.
Earn up to 1.2% cashback on eligible business expenses
The World Card helps you save on costs by rewarding you for your daily business expenditure. Spending with your World Card earns you up to 1.2% unlimited cashback for eligible business expenses.
For example, if you spend US$10,000 on SaaS tools in a month, you’ll receive US$120 in cashback. Rewards are credited in USD to your World Account on the last calendar day of the following month, with no cap on total cashback.
WorldFirst offers one of the highest rates of cashback and some of the broadest eligible business expenses in Singapore, covering advertising, digital marketing, shipping and logistics and client entertainment, among others.
Sign up for a World Card within minutes
While traditional business credit cards may require strong credit histories or lengthy approvals, applying for the World Card is fast and simple.
Firstly, you’ll need to sign up to a World Account:
- Click on the link to our World Account signup page. It’s free to create an account.
- Fill in your account information and verify your identity using a passport or driving licence
- Upload the necessary business documents such as your certificate of incorporation, proof of address, and director/shareholder ID for KYC verification
- Once you click ‘Submit’, you’ll receive an acceptance email (usually within 48 hours)
Then, to apply for a World Card:
- Sign in to your World Account
- Click on ‘World Card’ in the main navigation page
- Click on “I agree and apply [Terms and Conditions]”, and then click on “Apply now”
- You can enter a nickname for your first card. This helps you to distinguish between your cards in the future
- Next, click on “Apply”, and your card will be created instantly
- You can select yourself or other verified directors as the cardholder of the card. When making an online payment, the director will be able to enter his/her own name as the cardholder
Note: you can use this official Help Centre resource to navigate the process.
Benefit from other features of the World Account
When you sign up for a World Account, you can also:
- Open 20+ local currency accounts with local bank details (USD, GBP, EUR, AUD, and more)
- Settle payments faster through local payment rails, with 80% of transfers arriving the same day and 90% settling next day
- Lock in favourable exchange rates for up to 24 months using forward contracts for cost certainty
- Integrate with 130+ marketplaces and payment platforms, including Amazon, Shopify, Etsy and TikTok Shop
- Access real-time expense reporting and tracking to keep on top of your international cash flow
- Enjoy transparent pricing with no setup or maintenance fees
To start tracking your business expenses with a World Card, register for a World Account today.
- Open 20+ local currency accounts and get paid like a local
- Pay suppliers, partners and staff worldwide in 100+ currencies
- Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
- Save with competitive exchange rates on currency conversions and transfers
- Lock in exchange rates for up to 24 months for cash flow certainty
3 additional prepaid card options
While the World Card works well for cross-border businesses that want easy expense management, you might want to weigh up some more options.
Here are three alternative prepaid cards for business expenses:
1. Volopay prepaid business card
Volopay3 is a Singapore-based fintech company that provides an all-in-one financial platform for businesses, offering prepaid cards, expense management, bill payments and accounting integrations.
Each user is issued a physical card, and businesses can create unlimited virtual cards for team members, with customisable spending controls. This makes it easier to track and manage expenses across departments, projects or subscriptions. Their website states that you can only hold two currencies (SGD and USD) in your account.3a
Volopay integrates with third-party accounting systems like QuickBooks, Xero, NetSuite and others help streamline bookkeeping, while their accounting triggers ensure that your financial data is captured and categorised correctly.
Pricing isn’t transparently listed on their website, and you’ll have to contact their sales team to receive a quote.3a Volopay states that they have no hidden fees, no transaction limits, and a $0 domestic transfer fee. They also pay cashback, but the exact figure isn’t publicly stated.3
2. Youbiz prepaid card
The YouBiz prepaid business card from YouTrip is a debit card that’s designed for SMEs and startups.1
Each team member can be assigned a personalised card with customisable spending limits, ensuring total control over budgets. They offer unlimited 1% cashback on all eligible purchases, and cardholders can spend abroad with zero FX fees across nine major currencies (including SGD, USD, EUR, GBP and more). You can hold up to 10 currencies in your wallet at any time.
The card lets you set customisable spend controls, including merchant category restrictions and per-card spending limits (daily, weekly, monthly, quarterly, yearly). YouBiz also integrates with Xero to streamline bookkeeping and reconciliation.
YouBiz operates as a licensed major payment institution under Singapore’s Payment Services Act, but it’s not a bank. There are no fees for sending money locally, though for local foreign currency transfers, fees apply. The fees will be displayed on the confirmation page as you’re making the transfer.1a
3. Wise card
Wise is a popular multi-currency account provider in Singapore that targets SMEs, freelancers and startups. With Wise, businesses can create up to three virtual cards for team members, each with customisable spending limits.2
Your first Wise Business Card is typically free, and additional cards are available for SG$4, though only one physical card can be issued per account holder. While there are free ATM withdrawals up to SG$350/month, fees of 1.75% + SG$1.50 apply per withdrawal beyond the limit.2
With a Wise digital card you can pay in over 40 currencies and 160 countries, offering flexibility for international business. However, the Wise Business Debit Card doesn’t offer any cashback or reward points, and if you don’t have sufficient funds in your desired currency, a currency conversion fee starting from 0.65% applies. Also, topping up your Wise account to fund card spend can incur fees, depending on the method and currency.2
Easily manage your business expenses with the World Card
In this guide, we’ve shared the best business prepaid cards for managing your company spending, and we’ve shown why the World Card is the best for cross-border businesses with frequent overseas transactions.
With a World Card, you can manage all your spending from one place, and set up 25 virtual cards for individual expenses, currencies, or team members. You’ll earn up to 1.2% cashback on a wide range of spending with your World Card, and you’ll pay 0% FX fees when spending in 15 major currencies from balances you hold.
Ready to start managing your business expenses with WorldFirst? Sign up for a World Account today.
FAQs:
Which prepaid card is best for managing overseas business expenses?
Prepaid cards are a great option for managing business expenses across borders, particularly when you’re dealing in just one foreign currency. It’s a convenient way to preload a card with a given currency and spend from that balance.
While it’s not a conventional prepaid card, WorldFirst’s World Card is ideal for cross-border businesses that have a lot of overseas expenses. It lets you create 25 virtual cards to divide your spending, and you’ll pay zero FX fees across 15 major currencies. You can also earn 1.2% cashback across a wide range of eligible business spending.
How do I apply for a prepaid business card?
If you want to apply for a prepaid business card, you’ll need to find a provider, ensure you meet the account requirements and apply online.
To obtain a World Card, you’ll first need to sign up for a World Account. In the signup portal, fill in your account information and verify your identity. Then, once you receive an acceptance email, head to ‘World Card’ in the main navigation page of your World Account dashboard and click on ‘Apply now’.
Can the World Card be used for international transactions?
Yes. You can make payments with your World Card in over 150 currencies across 210+ destinations, with no FX fees when you spend in 15 major currencies.
Can I monitor and control card usage in real time?
When you spend with the World Card, every transaction appears instantly in your dashboard. You can view, freeze or delete cards anytime and integrate with Xero or QuickBooks for easy, real-time reporting.
What’s the best prepaid card for business expenses in Singapore? 4 options
If you’re looking for a prepaid card to manage your international business expenses, your best option is the World Card. In this guide, we share why.
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