Top 9 Wise alternatives & competitors in Singapore (2026): Best platforms for global payments and multi-currency business accounts
Shermaine Tan
Manager, Growth Marketing
Key takeaways
Wise Business works well if you need to send and receive international money, hold multiple currencies, and issue debit cards for light business use.
For growing Singapore businesses, Wise can start to feel restrictive, with a one-time S$99 fee to unlock local account details, a limited global payout network, and no built-in tools for payment acceptance or expense management.
Airwallex is built for businesses operating across markets, offering multi-currency business accounts, transparent FX fees, global payments, and a single platform to manage international transfers and financial operations as you scale.
If you manage cross-border payments, you’ve likely seen how costs and complexity creep in over time. In practice, that means fees you didn’t expect, payments that land late, and extra manual work to get everything reconciled at month end.
Wise is a solid starting point for simplifying straightforward international transfers and basic multi-currency balances. But as transaction volumes grow, currencies multiply, and payment flows become harder to manage, many Singapore businesses start looking for stronger alternatives.
This article breaks down the best Wise alternatives in Singapore, comparing global payment platforms and multi-currency business accounts. We’ll also show you how Airwallex gives you more control, clearer pricing, and fewer workarounds.
What is Wise?
Wise is a UK-based financial technology company that simplifies global money transfers for individuals and businesses. Launched in Singapore in 2017, it positions itself as a lower-cost alternative to traditional banks for sending money across borders.
Singapore enterprises can use the Wise Business account to send and receive international payments, hold and convert multiple currencies, and manage basic international transfers at lower fees compared to many bank accounts. Wise also lets business customers issue debit cards, make batch payments, and integrate with accounting software, making it easier to track spending and reconcile transactions.
For a more detailed breakdown of features, fees, and limitations, see our Wise Business Account review.
Best Wise alternatives in Singapore compared
Although Wise helps businesses reduce their cross-border fees, it's important to explore alternatives to ensure the best possible fit. Here’s a quick overview of the different Wise alternatives in Singapore.
| Airwallex | Aspire | Revolut | PayPal | YouBiz | Payoneer | ANEXT Bank | DBS Business Multi‑Currency Account | OCBC Multi-Currency Business Account |
|---|---|---|---|---|---|---|---|---|---|
Type of provider | Fintech | Fintech | Fintech | Fintech | Fintech | Fintech | Digital bank | Traditional bank | Traditional bank |
Multi-currency accounts with local bank details |
|
|
|
|
|
|
|
|
|
Supported currencies | Collect payments in 130+ currencies, settle like-for-like in 20+ currencies | Collect payments in 4 currencies, no like-for-like settlement
| Collect payments in 20+ currencies, like-for-like settlement mainly in EEA currencies | Collect payments in 25+ currencies, no like-for-like settlement | Collect payments via cards in 9 currencies, no like-for-like settlement
| Collect payments in 9 currencies, like-for-like settlement available
| Collect payments in 4 currencies, no like-for-like settlement
| Collect payments in 13 currencies, no like-for-like settlement | Collect payments in 13 currencies, no like-for-like settlement |
Global payout coverage | 200+ countries
| 130+ countries | 150+ countries | 200+ countries | 150+ countries | 190+ countries | 200+ countries | 200+ countries | 200+ countries |
Account opening fees | S$0 | S$0
| Basic S$0 Grow S$15 Scale S$84 | S$0 | S$0 | S$0 | S$0 | S$50 | S$0 |
International transfer fees | S$0 fee via local network (120+ countries) S$20–35 via SWIFT (to 200 countries)
| Transfer fees 0.02%–4.67% | S$8 + SWIFT fee per transfer outside plan allowance | 2% of transaction amount | SWIFT fees apply; not disclosed | Up to 3% of transfer amount | From S$15/US$10/CNH125/€10 per transfer | S$30 | S$20-30 |
FX fees | From 0.4% above interbank rates
| Transfer fees 0.02%–4.67% | Beyond limit: 0.6% fee +1% if converting outside FX market hours | 3–4% | Up to 0.4% markup | 0.50–3% | FX fees available on ANEXT banking portal | 1.5–3% | 1-2% |
Corporate cards
|
|
|
|
|
|
|
|
|
|
Expense management and reimbursements |
|
|
Expense management only |
|
Expense management only |
|
|
|
|
Batch payments |
|
|
|
|
|
|
|
|
|
International payment gateway solutions |
|
|
|
|
|
|
|
|
|
Dedicated account managers |
|
|
|
|
|
|
|
|
|
Accounting integrations |
|
|
|
|
|
|
|
|
|
Note: The information in this table has been reviewed to be accurate as of 9 January 2026.
Top 9 alternatives to Wise in Singapore: key features, use cases and fees
Here’s a closer look at the leading Wise alternatives available to Singapore businesses today, and what each platform is good at.
For full product and fee information, please visit each provider’s official website.
Airwallex
Airwallex is an end-to-end financial platform built for businesses that operate across borders. More than 150,000 businesses worldwide use their Airwallex Business Account to manage global payments, multi-currency accounts, FX, and spend in one place. For Singapore businesses, that means opening domestic and foreign currency accounts in 21 countries, accepting payments in 130+ currencies, and getting paid with local account details in 20+ currencies.
Businesses can pay out to 200+ countries, with 120+ supported through local payment rails instead of SWIFT. 94% of transactions run through those local rails, and 93% arrive on the same day. You also get multi-currency Corporate Cards, Expense Management, and Bill Pay.
Pros and cons
Pros | Cons |
|---|---|
End-to-end platform that covers multi-currency accounts, FX, cards, payments, and spend management | No credit facility |
Accept payments across 160+ local payment methods; pay out to 200+ currencies, with free international transfers to 120+ countries via local payment rails | Card does not support ATM withdrawals |
Accounting integrations with platforms such as Xero, NetSuite, and more | |
eCommerce payment gateway integrations with platforms such as Shopify | |
Dedicated account managers for eligible clients |
Fees
Domestic transfers: Free via local payment rails
International transfers: S$0 fees via local payment rails
FX fees: From 0.4% above interbank rates
Account opening: S$0
Aspire
Aspire offers a digital business account aimed at startups and SMEs in Singapore. It supports a limited set of currencies and combines basic international transfers with tools for local operations, such as GIRO payments and CPF contributions.
While Aspire works well for domestic payments and early-stage businesses, its international capabilities are more constrained. Aspire relies on partner banks for cross-border transfers, which may introduce delays and reduce visibility when issues arise. This can become a bottleneck for businesses managing higher-volume international transactions.
For more details, read our Aspire Singapore review.
Pros and cons
Pros | Cons |
|---|---|
Local account details for four currencies | Relies on third-party partners for international transfers |
Supports GIRO, PayNow, CPF, and local tax payments | Limited global payout coverage compared to Wise alternatives like Airwallex |
Physical and virtual corporate cards with spend controls | FX and transfer fees vary by currency and route |
Accounting integrations with Xero and QuickBooks | Cashback on card spend is limited to specific categories |
Fees
Domestic transfers: Free via GIRO and PayNow
International transfers: Fees vary by currency and destination
FX fees: From 0.4% above interbank rates
Account opening: S$0
Revolut
Revolut Business offers multi-currency accounts, debit cards, and international transfers for businesses operating across multiple markets. It allows companies to collect and hold funds in over 20 currencies and send money internationally.
For Singapore businesses, Revolut can be a useful option for basic global payments. However, features such as free transfers, advanced controls, and higher limits are tied to paid plans. Outside of Europe, Revolut relies more heavily on SWIFT, which can increase transfer fees and processing times.
For more details, read our Revolut Singapore review.
Pros and cons
Pros | Cons |
|---|---|
Multi-currency accounts with support for 20+ currencies | Monthly fees required for higher limits and features |
Physical and virtual debit cards | SWIFT fees apply outside plan allowances |
Broad international payout coverage | Limited expense management and approval workflows |
App-based account management
| FX costs increase at scale |
Fees
Domestic transfers: Free
International transfers: S$8 plus SWIFT fee per transfer outside plan allowance
FX fees: Beyond limit: 0.6% fee, plus 1% if converting outside FX market hours
Account opening: Basic S$0; Grow S$15; Scale S$84
PayPal
PayPal is a global payments platform best known for online payments and digital wallets. It allows businesses to accept payments from customers worldwide and hold balances in multiple currencies.
While PayPal offers broad global reach, it's less suited to managing ongoing financial operations. Fees can be high, FX markups are often opaque, and PayPal lacks the multi-currency account features and local account details that businesses need to manage international payments efficiently.
For more details, read our PayPal Business Account review.
Pros and cons
Pros | Cons |
|---|---|
Global brand recognition | High transaction and FX fees |
Supports online payments in 200+ markets | Limited multi-currency account functionality |
Easy setup for accepting customer payments | Not designed for managing business spend or financial operations |
Fees
Domestic transfers: From 3.90% + fixed fee
International transfers: 2% of transaction amount
FX fees: 3–4%
Account opening: S$0
YouBiz
YouBiz is a multi-currency business account offered by YouTrip and designed for Singapore SMEs. It allows businesses to hold nine currencies, issue corporate cards, and earn cashback on card spend.
YouBiz works best for businesses operating mainly in Singapore with limited international needs. It doesn't provide local account details outside Singapore, and international transfers typically go through SWIFT, which can increase fees and settlement times.
For more details, read our YouBiz Business Account review.
Pros and cons
Pros | Cons |
|---|---|
Hold balances in nine currencies | No local account details outside Singapore |
1% cashback on card spend | SWIFT fees apply for international transfers |
Includes bill payments and spend controls | Limited automation and approval workflows |
Xero integration | Pricing transparency is limited |
Fees
Domestic transfers: Free
International transfers: SWIFT fees apply; not disclosed
FX fees: Up to 0.4% markup
Account opening: S$0
Payoneer
Payoneer focuses on cross-border payouts and receiving funds from global marketplaces. It allows businesses to collect and hold balances in multiple currencies and send international transfers.
While Payoneer has strong marketplace coverage, it's less suitable as a primary business account. Fees can be high for transfers and currency conversion, and tools for managing spend, approvals, and accounting are limited.
For more details, read our Payoneer Business Account review.
Pros and cons
Pros | Cons |
|---|---|
Strong support for marketplace payouts | Transfer fees can reach up to 3% |
Multi-currency balances supported | Limited financial management tools |
Broad global coverage | Not built for day-to-day business operations |
Fees
Domestic transfers: n/a
International transfers: Up to 3% of transfer amount
FX fees: 0.50–3%
Account opening: S$0
ANEXT Bank
ANEXT Bank is a digital bank in Singapore offering multi-currency business accounts for SMEs. It provides basic international transfer capabilities and local banking services.
Compared to fintech platforms, ANEXT operates more like a traditional bank. While this suits businesses that prioritise regulatory familiarity, international transfers and FX are typically slower and more expensive.
For more details, read our ANEXT Bank review.
Pros and cons
Pros | Cons |
|---|---|
MAS-regulated digital bank | Limited FX optimisation |
Multi-currency accounts supported | Higher transfer fees than fintech alternatives |
Familiar banking structure | Fewer automation and integration options |
Fees
Domestic transfers: Free
International transfers: From S$15 / US$10 / CNH125 / €10 per transfer
FX fees: FX fees available on ANEXT banking portal
Account opening: S$0
DBS Business Multi‑Currency Account
DBS offers multi-currency business accounts through its traditional banking platform. Businesses can hold balances in multiple currencies and access DBS’s global banking network.
While DBS provides stability and reach, international transfers often rely on SWIFT and come with higher fees and slower settlement compared to fintech alternatives built around local payment rails.
For more details, read our DBS business banking guide.
Pros and cons
Pros | Cons |
|---|---|
Backed by a major Singapore bank | Higher fees for international transfers |
Wide global presence | Slower settlement times |
Supports multiple currencies | Limited automation and FX optimisation |
Fees
Domestic transfers: Free
International transfers: S$30
FX fees: 1.5–3%
Account opening: S$50
OCBC Multi-Currency Business Account
OCBC’s multi-currency business account allows companies to hold balances in multiple currencies and make international payments through traditional banking channels.
As with most traditional banks, OCBC prioritises stability over flexibility. This can work for businesses with simple needs, but international transfers and FX costs can add up as volumes increase.
For more details, read our OCBC business banking guide.
Pros and cons
Pros | Cons |
|---|---|
Established local bank | Higher international transfer fees |
Supports multiple currencies | Limited visibility on FX markups |
Integrated with other OCBC banking services | Less suited to global, high-growth businesses |
Fees
Domestic transfers: Free
International transfers: S$20–30
FX fees: 1–2%
Account opening: S$0
What to consider when choosing alternative providers to Wise
Here are the top 10 most important questions for you to consider when choosing an alternative to Wise. Use these as a handy guide when doing your research.
1. What's your fee structure?
Watch out for account setup fees and hidden charges that might not be clearly addressed in the currency markup, as they can significantly increase your costs.
2. What's the currency exchange markup?
A platform with a higher markup can erode your profits. Compare exchange rate markups to ensure you’re getting competitive exchange rates that align with your business needs.
3. Are there additional costs for large transfers?
Fees can add up quickly and reduce the amount your recipient receives. Knowing these costs upfront helps you get the best value for every transfer.
4. How extensive is the payout coverage?
A platform with wide coverage will support your global operations more effectively, enabling you to manage finances across different regions without limitations.
5. What currencies can be held in your business account?
The ability to receive multiple currencies reduces the need for constant currency exchanges and helps you avoid double-conversion fees.
6. What expense management services do you provide?
Services like expense tracking, invoicing, and automated bill payments can streamline your financial operations and help you achieve efficiencies.
7. Do you offer corporate and employee cards?
Issuing debit cards linked to the fintech platform can streamline financial management by offering real-time tracking of transactions and better control over spending.
8. What security measures do you have in place?
Prioritise fintech platforms that offer robust security measures like end-to-end encryption, multi-factor authentication, and fraud detection.
9. What integration capabilities do you offer?
A platform that can easily integrate with your accounting software or eCommerce platform will automate many financial processes and improve operational efficiency.
10. What kind of customer support do you provide?
Dedicated account management support can be valuable, especially for businesses with complex needs or high transaction volumes. Check if they offer support via phone, chat, or text channels.
How Wine Kin streamlined payments and saved money with Airwallex
Airwallex gives you everything Wise does, and adds more on top of it: like-for-like collections in more currencies, S$0 local-rail transfers to 120+ countries, multi-currency Corporate Cards with built-in Expense Management and Bill Pay, plus a full payment gateway on the same platform.
Wine Kin is a good example of how that looks like in practice. Using Airwallex’s borderless transfers and live interbank FX rates, Wine Kin reduced manual checks and chose when to convert currencies based on real market conditions. That flexibility translated into faster supplier payments, less admin, and meaningful savings on every overseas transfer.
“Airwallex's dashboard is transparent, which makes transfers so much more convenient. We’ve also saved thousands of dollars with their competitive foreign exchange rates."
Desmond Yeo, Founder of Wine Kin
Frequently asked questions (FAQs)
How does Airwallex compare to Wise in terms of FX fees?
Airwallex offers competitive FX rates with transparent pricing, typically from around 0.4% above interbank rates, so businesses can clearly see what they are paying. Wise also uses the mid-market rate, but its transfer and FX fees vary widely by currency route and amount, which can make costs harder to predict at scale.
Do alternatives to Wise offer physical and virtual cards?
Yes. Many Wise alternatives, including Airwallex, Aspire, Revolut, and YouBiz, offer both physical and virtual cards. The difference lies in control, with platforms like Airwallex pairing cards with built-in expense management, limits, and real-time visibility.
Which platform offers the most seamless integration with accounting software?
Airwallex provides native integrations with accounting platforms such as Xero, NetSuite, and QuickBooks, covering payments, spend, and reconciliation in one flow. Other providers may support basic syncs, but often lack the depth needed for higher transaction volumes or multi-entity reporting.
Are transfers with alternative platforms as fast as Wise?
Transfers with alternative platforms may be slower or faster than Wise, depending on the network used. Platforms that rely heavily on SWIFT can take longer, while those using local payment rails, like Airwallex, can deliver same-day or instant transfers in many markets, especially for domestic-style payments.
Which is the best business account in Singapore?
There is no single best option for every business. The right account depends on whether you prioritise low-cost transfers, local banking familiarity, or a full financial platform. You can explore a broader comparison of options in our guide to Singapore business accounts.
How does Revolut compare to Airwallex?
Revolut offers multi-currency accounts and cards, but many features and higher limits sit behind paid plans, and international transfers outside Europe often rely on SWIFT. Airwallex focuses on global business operations, with broader payout coverage, transparent FX pricing, and tools for payments, spend, and reconciliation in one platform. For a detailed comparison, see our dedicated article which compares Airwallex to Revolut.
Sources:
https://aspireapp.com/multi-currency-account
https://www.paypal.com/sg/webapps/mpp/country-worldwide
https://youbiz.zendesk.com/hc/en-us/articles/6334629807769-Which-currencies-are-supported
https://www.payoneer.com/about/pricing/
https://www.anext.com.sg/bank-with-us/business-account
https://www.dbs.com.sg/sme/day-to-dayaccounts/dbs-business-multi-currency-account
https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account
https://aspireapp.com/pricing
https://www.revolut.com/business/open-account-online/sg-business-account/
https://www.paypal.com/sg/business/paypal-business-fees
https://www.dbs.com.sg/sme/day-to-dayaccounts/dbs-business-multi-currency-account
https://help.revolut.com/en-SG/business/help/receiving-payments/sending-money-to-an-external-bank-account/transfer-fee/
https://www.paypal.com/sg/business/paypal-business-fees
https://www.payoneer.com/about/pricing/
https://www.dbs.com.sg/sme/day-to-dayaccounts/dbs-business-multi-currency-account
https://www.ocbc.com/business-banking/help-and-support/accounts-and-services/business-pricing-guide
https://www.revolut.com/en-SG/legal/business-basic-fees/
https://www.paypal.com/sg/business/paypal-business-fees
https://youbiz.zendesk.com/hc/en-us/articles/6334722356249-What-exchange-rates-are-used-for-YouBiz
https://www.ocbc.com/business-banking/smes/accounts/multi-currency-business-account
https://www.wise.com/sg/business/receive-money
https://wise.com/sg/business/
https://wise.com/gb/blog/integrate-accounting-software
This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.
View this article in another region:AustraliaCanada - EnglishCanada - FrançaisNew ZealandUnited KingdomUnited States
Shermaine Tan
Manager, Growth Marketing
Shermaine spearheads the development and execution of content strategy for businesses in Singapore and the SEA region at Airwallex. Leveraging her extensive experience in eCommerce, digital payment solutions, business banking, and the cross-border industry, she provides invaluable insights that guide businesses through the complexities of global commerce. Specialising in crafting relevant and engaging content that resonates with business owners, her work is designed to drive growth and innovation within the fintech and business economy space.
Posted in:
Business banking
