How YouBiz turns the 2–3% your bank skims on overseas spend into a flat 0%
YouBiz is the multi-currency business account from the team behind YouTrip. It gives Singapore businesses a Mastercard corporate card with real 0% FX fees on card spend across 150+ currencies, unlimited 1% cashback with no cap, and S$0 monthly fees — all at the Mastercard wholesale exchange rate, which closely tracks the mid-market rate you’d see on Google Finance.
If your business pays overseas suppliers, runs Stripe and AWS charges in USD, or burns ad spend in foreign currency, FX is often where costs quietly add up. A typical 2–3% bank markup on S$10,000 of monthly overseas spend is S$200–S$300 lost before you’ve even accounted for your core business costs.
Below is a breakdown of how YouBiz handles exchange rates, the currencies it supports, and how it compares to traditional Singapore bank cards.
YouBiz Exchange Rates at a Glance
| What | YouBiz |
|---|---|
| Exchange rate used | Mastercard wholesale rate (tracks the mid-market rate) |
| FX fee | 0% on card spend across 150+ currencies |
| Monthly account fee | S$0 |
| Cashback | Unlimited 1% on card spend, no cap |
| Hold & exchange currencies | 8 (SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF) |
| Overseas transfer currencies | 20, with no FX fees |
| Card network | Mastercard (Principal Member) |
| Regulator | MAS-licensed under the Payment Services Act |
| Best for | SMEs with overseas vendors, ad spend, SaaS bills, regional travel |
More than 10,000 finance teams already run their foreign spend through YouBiz. The appeal is simple: the FX line that banks treat as quiet profit is the line YouBiz takes to zero.
In This Article
- What Exchange Rates Does YouBiz Use?
- How Are YouBiz’s Exchange Rates Better Than the Banks?
- YouBiz vs Bank vs Wise vs Revolut
- How Can You Check YouBiz’s Exchange Rates?
- Which Currencies Does YouBiz Support?
- Does YouBiz Charge Any Fees?
- FAQs
What Exchange Rates Does YouBiz Use?
YouBiz uses the Mastercard wholesale exchange rate, the rate Mastercard applies across its global payment network. It closely tracks the mid-market rate (like what you see on Google Finance or XE), typically within a fraction of a percent.
How it works:
- The rate updates in real time, so what you see on the YouBiz app at the point of transaction is what you pay
- There’s no YouBiz FX markup, unlike most Singapore business bank cards that add 2–3% on overseas spend
- The same rate applies to both card payments and overseas transfers via the YouBiz account
- For supported currencies (e.g. SGD, USD, EUR, GBP), you can pre-convert funds and lock in the rate before making payments, helping you manage FX volatility
With 0% FX fees and Mastercard’s wholesale rate, YouBiz helps your business get exchange rates that are close to the mid-market rate. Here’s a guide to everything you need to know about YouBiz Singapore.
How Are YouBiz’s Exchange Rates Better Than the Banks?
Singapore business credit and debit cards from DBS, OCBC, UOB, and Maybank typically apply a 2–3% FX markup on overseas transactions, layered on top of the underlying rate. That markup is the spread the bank takes on every foreign currency transaction your business runs.
YouBiz removes that markup entirely on card spend. Here’s what that looks like on a typical SME spend:
| Monthly overseas spend | Bank card (2.5% markup) | YouBiz (0% FX) | You save |
|---|---|---|---|
| S$5,000 | S$125 lost to FX | S$0 | S$125 |
| S$10,000 | S$250 lost to FX | S$0 | S$250 |
| S$25,000 | S$625 lost to FX | S$0 | S$625 |
| S$50,000 | S$1,250 lost to FX | S$0 | S$1,250 |
Estimates use a typical 2.5% Singapore business card FX markup. Actual bank rates vary by card product and may be higher on premium tiers.
On top of the FX savings, YouBiz gives unlimited 1% cashback on every eligible card spend, with no minimum spend and no monthly cap.
That means a S$10,000 monthly spend on YouBiz doesn’t just save you ~S$250 in FX fees; you also earn S$100 cashback credited back to your account. Traditional bank cards, on the other hand, still charge FX markups on top of everything.
💱 For overseas supplier payments, YouBiz can also save up to 6x on cross-border transfer fees compared to traditional banking solutions, especially if you’re paying regular invoices in USD, EUR, GBP, or CNY.
YouBiz vs Bank vs Wise vs Revolut
The FX markup is only half the story. What separates YouBiz isn’t just the 0% rate — it’s that you also earn cashback on the same spend, on an account that costs nothing to keep open.
Here’s how the common options stack up for a Singapore business:
| Account | FX markup on card spend | Cashback | Monthly fee | Rate basis |
|---|---|---|---|---|
| YouBiz | 0% across 150+ currencies | Unlimited 1%, no cap | S$0 | Mastercard wholesale (≈ mid-market) |
| DBS / OCBC / UOB business card | 2.5–3% | Usually none on FX spend | Annual / account fees vary | Bank retail rate |
| Wise Business | From 0.23% per conversion | None | S$0 ongoing (one-off S$99 setup) | Mid-market |
| Revolut Business | 0% up to plan allowance, then 0.6% (+1% on weekends) | None | Free Basic plan; paid tiers for higher limits | Interbank |
Fees change often. Check each provider’s site for current rates and limits before deciding.
⚖️ Takeaway: Getting a good exchange rate is one thing. With YouBiz, you also get 0% FX fees, unlimited 1% cashback, and no monthly fees, so your overseas spending works harder for your business.
How Can You Check YouBiz’s Exchange Rates?
Inside the YouBiz app, the live rate is shown on the wallet screen for every supported currency. To check it:
- Open the YouBiz app and tap ‘Exchange’ on the Homescreen
- Select the currency you want to check (e.g. USD, EUR, GBP)
- You’ll see the current Mastercard wholesale rate before confirming the conversion
- To lock in the rate, convert SGD to your chosen currency wallet — the rate shown is the rate you’ll get.
You can also:
- View the exchange rate applied to each transaction in your statement, giving your finance team a clear audit trail
- Compare the rate against sources like Google Finance or XE. The YouBiz rate is typically very close to the mid-market rate and often more competitive than what traditional bank cards offer
Which Currencies Does YouBiz Support?
It helps to think about YouBiz in three ways: spending, holding, and sending money, as each has different currency coverage.
Card spend — 150+ currencies with 0% FX fees
Use your YouBiz Mastercard online or in-store anywhere Mastercard is accepted, and enjoy 0% FX fees on transactions in 150+ currencies. All transactions are processed at the Mastercard wholesale rate, making this ideal for overseas business travel, SaaS subscriptions, digital advertising, and supplier payments.
Hold & exchange wallets — 8 supported currencies
You can hold, exchange, and receive funds in: SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF. This allows you to convert funds when rates are favourable and lock in exchange rates ahead of upcoming expenses or invoices.
Overseas transfers (remittance) — 20 currencies, no FX fees
Send money to overseas suppliers and partners in: SGD, AUD, BRL, GBP, CAD, CNY, EUR, HKD, INR, IDR, JPY, KRW, LKR, MYR, PHP, CHF, THB, TRY, USD, and VND. Transfers can be made to recipients in over 150 countries worldwide.
What this means for your business
If your business operates in major markets such as the US, UK, Europe, China, Australia, India, Japan, Malaysia, Indonesia, Thailand, or the Philippines, YouBiz covers most of your spending, currency holding, and supplier payment needs in one platform.
For currencies outside the 150+ supported spend currencies, transactions are still processed at the Mastercard wholesale rate, with no additional FX markup from YouBiz.
Does YouBiz Charge Any Fees?
The headline numbers from the YouBiz business account:
| Fee | What you pay |
|---|---|
| Monthly account fee | S$0 |
| Account setup fee | S$0 |
| Minimum balance | None |
| FX fee | 0% on card spend across 150+ currencies |
| Cashback | Unlimited 1%, no cap |
| Card issuance | Free physical and virtual cards, with spend limits and controls per card |
| Remittance | Low, transparent fees; up to 6x cheaper than traditional banking solutions |
| Overseas ATM withdrawals | Supported (set a 6-digit PIN in the app). Any YouBiz fees are shown upfront in the in-app fee schedule before you confirm, and the overseas ATM operator may also charge its own surcharge. |
YouBiz is licensed under the Payment Services Act by the Monetary Authority of Singapore, so funds in your YouBiz account are held under MAS-regulated safeguarding arrangements.
FAQs
Yes. We use the Mastercard wholesale rate with no FX markup on card spend across 150+ currencies. There are no additional FX or service fees added on top, and the rate closely tracks the mid-market rate.
The key difference is FX cost. Traditional Singapore bank business cards typically charge a 2–3% foreign currency markup. YouBiz charges 0% FX fees on card spend and also offers 1% cashback.
No. YouBiz is a prepaid Mastercard linked to your multi-currency business account, so you only spend what you top up. This gives clearer cashflow control. You can still pair it with a credit card if you need additional working capital.
Singapore-registered businesses with a valid UEN. Sign-up is done via Singpass MyInfo Business, so most company details are auto-filled.
Yes. You can issue free physical and virtual cards with custom spend limits, helping teams control spending by department, vendor, or campaign.
Yes, for supported currencies like SGD, USD, EUR, and GBP. Simply convert SGD into your chosen currency wallet when the rate is favourable. The rate is locked at the point of conversion and stays fixed until you spend it.
Handy if you’ve got a USD invoice due at month-end and want to de-risk the rate between now and then.
Yes. The card works for online payments just like in-store transactions. You still enjoy 0% FX fees and the Mastercard wholesale rate, with no extra charge for card-not-present transactions. This is especially useful for recurring SaaS or ad spend in foreign currencies.
No. There are no FX fees on card spend, no monthly account fees, and no minimum balance requirements. Any applicable fees (e.g. remittance) are shown clearly in-app before confirmation. Third-party fees (such as ATM operator charges) are not controlled by YouBiz.
Yes. Overseas ATM withdrawals are supported once you set a 6-digit PIN. Any YouBiz fees will be shown in the app before you confirm, and the ATM operator may charge its own surcharge.
⚠️ ATM fees are subject to change; verify on screen before withdrawal.
Built for Businesses That Spend Across Borders
Stripe fees, AWS invoices, overseas supplier payments, and USD ad spend — every foreign-currency transaction is usually a 2–3% bank markup. With YouBiz, you keep that cost at 0% FX and earn 1% cashback on the same spend, with no monthly fee.
Sign up at you.co/biz in under 5 minutes via Singpass. Approval typically takes 1–2 business days. Your virtual Mastercard is ready in the app right after approval, and your physical card arrives in 5–7 working days.
Already saving on overseas spend? Share the benefits with another business owner and earn S$50 each when they join YouBiz.
