A side-by-side look at two multi-currency accounts for Singapore businesses
Wise Business and YouBiz both let a Singapore SME hold, spend, and send in multiple currencies without the FX margins a bank charges.
Both give your company a multi-currency account, a debit card, and cheaper cross-border payments than a traditional bank.
The split shows up in what each is built to do. YouBiz is a spend-and-expense account: free to open, unlimited 1% cashback on eligible spends, real 0% FX fees on card spend, and up to 100 corporate cards with expense controls, all at S$0/month.
Wise Business is a get-paid-and-send account: a one-time setup fee, no cashback, but 40+ currencies to hold and account details to get paid in more than 20 of them, like a local in the major ones.
If your company’s money mostly goes out as SaaS subscriptions, ad spend, travel, and supplier cards, YouBiz keeps more of it.
If your company mostly gets paid by overseas customers and sends transfers to many countries, Wise’s currency reach is hard to beat. Which one fits your business better comes down to how your business actually moves its money.
Wise Business vs YouBiz at a Glance
| Feature | YouBiz | Wise Business |
|---|---|---|
| Monthly fee | S$0/month, all features included | No monthly fee, but a one-time S$99 setup fee to open |
| Unlimited 1% cashback | Yes, on eligible spends, no minimum, no cap | No cashback on card spend |
| Card FX | Real 0% FX fees, wholesale rates, 150+ currencies | Mid-market rate plus a conversion fee from 0.23% (varies by currency) |
| Cards included | Up to 100, free | First card free; extra team cards S$4 each (one-time) |
| Currencies held | 8 | 40+ |
| Getting paid | Receive into 8 currency accounts; PayNow QR for SGD | Account details to receive in 22 currencies (local details in 9) |
| Overseas transfers | 20 currencies, no FX fees | 40+ currencies, wide global reach, mid-market rate plus fee |
| Returns on balances | No | Wise Interest (variable, capital at risk) |
| Team & expense controls | Unlimited users, approvals and MCC locks, included free | Multiple users, spend limits and card controls |
| Card network | Mastercard | Visa or Mastercard |
| Regulation | MAS major payment institution; Mastercard Principal Member | MAS major payment institution |
Wise Business pricing and fees per Wise’s Singapore pricing pages (July 2026).
For a business that spends overseas regularly, cashback and 0% FX fees on card spend can save far more than a low headline fee.
A card without cashback means missing up to 1% back on every purchase, and a conversion fee on each exchange adds up across a year of company spend.
YouBiz gives you the full feature set, real 0% FX fees, and 1% cashback for free, with nothing to set up.
Table of Contents
- Wise Business vs YouBiz at a Glance
- What Is YouBiz, and What Problem Does It Solve?
- What Is Wise Business, and What Is It Used For?
- Pricing: What You Actually Pay
- Cashback: Wise Business vs YouBiz
- FX Fees and Overseas Spend
- Currencies, Getting Paid and Cards
- Transfers, Payments and Getting Set Up
- Advantages and Disadvantages of a Wise Business Account
- Which Is Right for Your Business?
- FAQs
What Is YouBiz, and What Problem Does It Solve?
YouBiz is the multi-currency business account from YouTrip (Singapore’s most-used travel wallet). It does one job well: cross-border business spend without the fees.
The problem it solves is the quiet tax on company spending. Every SaaS renewal, ad top-up, and overseas supplier payment usually carries an FX markup and earns nothing back. YouBiz strips out the markup and pays you back on the spend instead.
Your company gets:
- A multi-currency account across 8 currencies
- Free physical and virtual Mastercard corporate cards that spend across 150+ currencies at real 0% FX fees
- Unlimited 1% cashback on eligible spends
- All at S$0/month
Around the card sits the expense toolkit a finance lead needs:
- Up to 100 cards
- Unlimited team seats, spend limits, and merchant-category (MCC) locks
- Multi-condition approvals
None of it behind a paywall.
YouBiz is a Principal Member of Mastercard and a MAS-licensed major payment institution, so your funds are safeguarded under the Payment Services Act.
It’s built for the businesses that live on card spend, startups, agencies, e-commerce sellers, and lean finance teams, with no setup fee and nothing to upgrade to. More than 10,000 of them in Singapore now run their company spends on it.
What Is Wise Business, and What Is It Used For?
Image Credits: Wise
Wise Business is the company account from Wise (formerly TransferWise), the fintech founded in London in 2011.
Its reputation was built on cheap international transfers at the mid-market rate, and the business account extends that to holding currencies, getting paid abroad, and a debit card.
In Singapore, Wise operates through Wise Asia-Pacific, a MAS-licensed major payment institution. It safeguards customer money rather than holding it as insured deposits, the way a payment institution does rather than a bank.
SMEs use Wise Business to:
- Hold 40+ currencies
- Receive payments through account details in 22 currencies
- Send transfers across those currencies to a wide range of countries
- Spend on a multi-currency debit card
It’s built for businesses that trade across borders and want the mid-market rate on the money they move.
Wise Business vs Wise Personal
Wise’s personal account is free and built for an individual. The Business account is registered to your company, adds team members, staff cards, batch payments, and Xero and QuickBooks integrations, and carries a one-time S$99 fee.
If you’re invoicing clients or paying suppliers in the company’s name, open the Business account: running company money through a personal account blurs your books and can breach Wise’s terms.
YouBiz, by comparison, is a business account with no setup fee at all.
Pricing: What You Actually Pay
YouBiz is S$0/month, with no setup fee. Every feature comes on the free account: up to 100 corporate cards, unlimited team members, multi-condition approvals, MCC locks, and real-time expense tracking.
There’s no premium tier, because nothing is held back.
Wise Business has no monthly fee and no plan tiers to pick between. You pay a one-time fee to get in, then pay as you go:
- A one-time S$99 setup fee to open the account and access its full features.
- A conversion fee starting from 0.23% each time you exchange or spend in a currency you don’t hold (it varies by currency, and some routes cost more).
- Transfer fees on international payments, charged as a small percentage that drops on larger amounts.
- Your first card is free; extra team cards cost S$4 each as a one-time fee.
Both beat a bank on cross-border costs. The difference is that Wise charges a small fee on each conversion and transfer, whereas YouBiz charges 0% FX fees on card spend and pays you 1% back on top.
For a company doing steady overseas spend, those per-transaction fees and the missed cashback add up over a year in a way the headline “no monthly fee” doesn’t show.
| Cost | YouBiz | Wise Business |
|---|---|---|
| To open | S$0 | S$99 one-time |
| Monthly fee | S$0 | S$0 |
| Card FX fee | 0% | From 0.23% per conversion |
| Cashback | 1% on eligible spends | None |
Cashback: Wise Business vs YouBiz
This is the widest gap between the two.
YouBiz pays 1% on all eligible card spends, with no minimum and no cap, credited by the 15th of the following month (so March spend lands by 15 April).
The standard exclusions apply, as on any cashback card: wallet top-ups like PayLah! and GrabPay, investments, remittance, insurance, and government or tax payments.
Wise Business cards don’t earn cashback. Wise’s pitch is the mid-market rate and low fees, not money back on spend, so your SaaS, ad, and supplier spend earns nothing in return.
Put S$50,000 a month of eligible card spends through each. YouBiz’s 1% returns about S$500 a month, roughly S$6,000 a year, credited automatically. The Wise Business card returns nothing.
For a company that runs real volume through its cards, that gap alone can outweigh every other line in this comparison.
FX Fees and Overseas Spend
Both are far cheaper than a bank on foreign spend, but they price it differently.
The mid-market rate (also called the interbank or wholesale rate) is the near-wholesale rate banks trade at between themselves, the one you see on Google or XE. A markup or conversion fee is what a provider adds on top of it.
YouBiz
- Gives real 0% FX fees across 150+ currencies at Mastercard’s wholesale exchange rate, which closely tracks the mid-market rate.
- There’s no conversion fee to add, no monthly allowance to watch, and no weekend surcharge.
- You spend, it converts at wholesale, seven days a week.
Wise Business
- Converts at the true mid-market rate with no markup baked into the rate.
- Adds a separate conversion fee starting from 0.23% on each exchange, which varies by currency and can run higher on some routes.
- That fee is transparent and small, but it applies to every conversion, including card spend in a currency you don’t hold.
The raw rates are close. The deciding factor is that YouBiz adds no fee on card spend and pays 1% back, while Wise takes a small fee and gives nothing back. On the money your company spends, that’s a real gap.
Currencies, Getting Paid and Cards
Currency breadth is the one clear area where Wise leads YouBiz.
- Currencies held: YouBiz holds 8 (SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF); Wise holds 40+, so it wins clearly on breadth. The trade-off is smaller than it looks for spending, since YouBiz cards convert across 150+ currencies at wholesale automatically, so the company doesn’t need to pre-hold a currency to spend well in it.
- Getting paid: YouBiz receives into its 8 currency accounts and generates a PayNow QR to collect SGD. Wise gives account details to receive in 22 currencies, with true local details in nine of the majors (a US bank number, a UK sort code, and so on), so an overseas client or marketplace can pay you like a local in those. For a business billing customers in many countries, that reach is a genuine Wise edge.
- Cards: YouBiz includes up to 100 corporate cards free. Wise gives a free first card, then charges S$4 per extra team card as a one-time fee. Both issue physical and virtual cards.
- Card controls: YouBiz includes spend limits, virtual cards, MCC locks, and multi-condition and two-layer approvals on the free account. Wise offers spend limits and card controls too, so both cover the basics of team spending.
- Card network: YouBiz runs on Mastercard, accepted at over 80 million merchants worldwide. Wise issues on Visa or Mastercard, so acceptance is broadly comparable for online and offline spend.
- Overseas ATM withdrawals: YouBiz waives its own withdrawal fee; the daily limit is set by your team’s admin or finance user, up to S$20,000. Wise gives free withdrawals up to S$100 a month, then charges 1.75% above that. Neither card works at local ATMs in Singapore, and the overseas ATM operator may still add its own fee either way.
Transfers, Payments and Getting Set Up
Both move money abroad well below bank rates, with different reach.
- YouBiz sends to 20 currencies with no FX fees, local transfers up to S$200,000 per transaction, and free batch payouts of up to 1,000 payments in one upload.
- Wise Business sends in 40+ currencies to a wide range of countries at the mid-market rate plus a transfer fee, with batch payments to pay many recipients at once. Its reach is the widest here, which is the core of what Wise does.
So YouBiz sends its 20 currencies with no FX fee, folded into an account built around card spend and cashback, while Wise reaches more corridors.
Setup is quick on both:
- YouBiz takes under 5 minutes to apply via Singpass MyInfo Business, which auto-fills your ACRA business details, or you can apply manually, with no fee to open. You’ll need a board resolution plus ID and proof of address for the authorised users; an overseas-incorporated company uploads a company-registry document instead of the ACRA profile. Approval lands within 1 to 2 business days, your virtual Mastercard is live in the app immediately, and the physical card follows in 5 to 7 working days.
- Wise Business is fully online too, with a one-time S$99 fee to open and approval usually within a few days. You’ll need a Singapore-registered business and the usual verification documents (company details and owner or director ID), and industry and activity restrictions apply, as with any regulated account.
For the books, YouBiz connects to Xero (with 50% off your first 6 months, for a limited time only); Wise syncs with Xero and QuickBooks.
Advantages and Disadvantages of a Wise Business Account
Most SMEs ask two things before signing up: what a Wise Business account does well, and where it falls short.
Advantages of a Wise Business account:
- Holds 40+ currencies, more than almost any fintech account, with account details to get paid in 22.
- The mid-market rate on conversions and transfers, with fees shown upfront.
- Wide transfer reach across 40+ currencies, plus batch payments and Xero and QuickBooks integrations.
- Can earn a return on idle cash through Wise Interest, a variable rate on SGD, USD, GBP and EUR balances (capital at risk, no lock-in).
- Strong fit for businesses that invoice overseas clients or run global payouts.
Disadvantages of a Wise Business account:
- No cashback on card spend, so everyday spend earns nothing back.
- A conversion fee starting from 0.23% on each exchange, and a one-time S$99 fee just to open.
- Accounts can be frozen or reviewed for compliance. Wise, like any regulated payment institution, runs anti-money-laundering and source-of-funds checks. Large balances or unusual activity can trigger a review, or even a closure. Keeping documents current and answering verification requests promptly is the way to avoid it.
- Funds are safeguarded but not covered by a deposit insurance scheme.
For a company whose main job is controlling and saving on card spend, those gaps, cashback and the per-conversion fee especially, are where a focused account like YouBiz pulls ahead.
Which Is Right for Your Business?
There’s no single business account that’s best for every SME. It comes down to what your company actually does with the money.
YouBiz fits most Singapore SMEs that want unlimited 1% cashback and free spending with no setup fee: startups, agencies, e-commerce sellers, and finance leads after the full corporate-card-and-expense toolkit.
Your company gets:
- Unlimited 1% cashback on eligible spends, which Wise Business cards don’t offer
- Real 0% FX fees across 150+ currencies, with no conversion fee to add
- Up to 100 cards, unlimited team seats, and approvals included
- All at S$0/month, with nothing to pay to open
Wise Business fits a business that gets paid in many currencies and sends money widely. Your company gets:
- 40+ currencies to hold, with account details to receive in 22
- Transfers in 40+ currencies at the mid-market rate
- A return on idle balances through Wise Interest (variable, capital at risk)
- Batch payouts and accounting integrations for global operations
If getting paid like a local abroad and paying suppliers across many corridors is the core of your business, Wise’s reach earns its setup fee.
What about small businesses or the self-employed?
A Wise account can be a good fit, especially for a business that mainly needs to get paid by overseas clients in their own currencies.
But the moment your company’s spending grows, or it wants cashback on all of it, an account that charges to open and takes a fee on each conversion starts to cost you.
For the core SME job, controlling and saving on what your business spends, YouBiz wins on price and simplicity.
👉 Still shortlisting? Our Revolut Business vs YouBiz and Airwallex vs YouBiz comparisons cover the other popular Singapore accounts. Traditional business bank accounts (DBS, OCBC, UOB) sit in the mix too, and our guide to the best corporate card in Singapore for SMEs ranks the wider field.
FAQs
Yes, especially for a business that gets paid by overseas customers and sends money across many currencies and countries, thanks to its 40+ currencies and account details to receive in 22. For a company focused on card spend, an account with unlimited 1% cashback and 0% FX fees on spend, like YouBiz at S$0/month, often keeps more of the money.
The main ones for a spending-focused SME are: no cashback on card spend, a conversion fee from 0.23% on each exchange, a one-time S$99 setup fee, and compliance reviews that can freeze accounts holding large balances or showing unusual activity. YouBiz counters the first three with 1% cashback on eligible spends, 0% FX fees, and no setup fee.
Wise is a regulated payment institution, so it runs anti-money-laundering and source-of-funds checks. Accounts can be reviewed, restricted, or closed when documents are missing, activity looks unusual, or large balances raise the compliance burden. Keeping your business documents up to date and answering verification requests quickly is the best way to avoid it. This is an industry-wide reality for payment institutions, YouBiz included.
No. YouBiz is S$0/month with no setup fee, no minimum balance, and no per-user fees. Every feature (multi-currency accounts, corporate cards, expense management, transfers, and 1% cashback on eligible spends) sits on the single free tier.
Neither is a bank. Both are MAS-licensed major payment institutions under the Payment Services Act. Your money is safeguarded, held separately from company funds, rather than covered by a deposit insurance scheme. It’s a regulated framework, structured differently to a bank’s deposit insurance.
YouBiz is for company spend; YouTrip is for personal travel. YouTrip is the consumer multi-currency wallet, and it doesn’t issue corporate cards, expense controls, or multi-user accounts. If you’re running business expenses on a personal card, YouBiz is the business-built version.
The Right Account Depends on How Your Business Spends
If your company’s money goes out as SaaS charges, cloud invoices, ad spend, and overseas supplier payments, and you’d rather earn on it than pay to move it, YouBiz is built for exactly that.
Real 0% FX fees across 150+ currencies, unlimited 1% cashback on eligible spends, and up to 100 cards with unlimited team seats, all at S$0/month with no setup fee.
Apply in under 5 minutes at you.co/biz. Once approved, your virtual YouBiz Mastercard is available immediately, and your physical card arrives within 5 to 7 working days.
Already saving on overseas spend? Refer another business owner, and you each earn S$50 when they sign up and make their first card spend.
