YouBiz Review: Business Account Singapore

Rating

Overall rating: 4.1/5

What is YouBiz?

YouBiz is a finance platform for businesses with solutions including multi-currency accounts and corporate cards. YouBiz multi-currency accounts allow businesses to manage expenses in up to 9 currencies, and they offer unlimited 1% cashback and 0% FX fees on payments to several currencies.  

YouBiz is part of You Technologies Group, which also includes YouTrip, a multi-currency e-wallet for consumers.While YouTrip serves individual users for personal or travel spending, YouBiz is tailored for business use. It provides higher transaction limits, multiple user access, and expense management tools that let teams issue both virtual and physical corporate cards under one company account.

Below is a breakdown of what they offer is and how they differ:

YouBiz key features for SMEs

YouBiz combines multi-currency banking, corporate spend management, and payments into a single platform, enabling SMEs to manage their global operations more efficiently.

Here's a closer look at its most impactful features and how they benefit your business:

Business account key features

• Multi-currency account supporting 9 major currencies, including SGD, USD, and EUR
• Sub-account creation with up to 30 accounts, even within the same currency, to allocate budgets across departments and projects
• Exchange rate lock-in when converting funds for future use
• International payments to over 150 destinations through its own network
• Real-time FX conversions with a low markup of around 0.1–0.4% above wholesale exchange rates
• Fully online account opening for fast and paperless onboarding
• Xero integration support for seamless accounting and reconciliation
• No maintenance or minimum balance fees for cost-efficient business banking

Corporate Card key features

• Unlimited virtual and physical cards, powered by Mastercard, with individual spending limits for better control over team and travel expenses
• 0% FX fees on foreign currency transactions
• Unlimited 1% cashback on all eligible spend, with no caps or category restrictions
• Real-time spend tracking for full visibility and faster reconciliation
• Customisable card controls and limits to manage budgets and prevent overspending

YouBiz Business Account: Pros and cons

Overview of the YouBiz Business Account

Multi-currency business account 

YouBiz’s multi-currency account gives SMEs control and flexibility when managing global funds.

• Hold and transact in 9 currencies: SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF, and THB.
• Create up to 30 sub-accounts, including multiple accounts in the same currency, to manage budgets by department, project, or region.
• No account opening or annual fees, and no minimum balance requirements.
• Receive funds at no cost in all supported currencies.
• Send batch payments to multiple vendors or partners in one go.
• Free local transfers within Singapore.
• True mid-market FX rates with low markups (typically 0.1%–0.4%).
• Instant rate lock feature lets users secure favourable FX rates for upcoming payments.
• Transparent dashboard to track all balances and currency movements in real time.

Corporate card

YouBiz corporate cards are designed for seamless global spending and real-time expense control.

• Issue unlimited physical and virtual cards for teams, projects, or individuals.
• Set custom spending limits and budgets for each card.
• Earn 1% unlimited cashback on all card spending, with no caps or category restrictions. Cashback is automatically credited to the account by the 15th of the following month.
• 0% FX fees on international transactions, saving costs on cross-border spending.
• Spend in multiple currencies directly from your YouBiz account without conversion fees.
• Track expenses in real time with instant notifications and live dashboards.
• Supports contactless payments via Apple Pay and Google Pay.
• Freeze or cancel cards instantly in case of loss or misuse.
• Card delivery within 5–8 business days after ordering.

Accounting integration

YouBiz integrates directly with leading accounting tools to simplify reconciliation and financial reporting.

• Direct integration with Xero, which means all card transactions sync automatically, updated daily.
• Custom approval policies ensure transactions are recorded only after confirmation.
• Link multi-currency accounts for seamless reconciliation across currencies.
• Automate bookkeeping by categorising expenses and syncing them into the chart of accounts.
• Admin-only access for added control over financial data.

International payments & FX transfers

• Support for 20 currencies for outbound transfers, with zero FX fees on card spending. 
• Ability to send batch transfers (up to 1,000 payments) to multiple recipients in one upload. 
• Custom approval workflows (up to two steps) to enforce checks before funds are sent. 
• Transfers to over 150 countries with transparent, competitive remittance fees (claimed up to 6× cheaper than traditional alternatives). 
• No hidden markups which means exchange rates and fees are shown up front before you confirm any transfer. 
• Transfer limits depend on currency, and limits are displayed during transaction setup before you confirm. 
• Instant or same-day transfers (where supported), depending on destination and currency corridors. 

YouBiz Customer Support

YouBiz provides multiple support options to help businesses resolve issues promptly and maintain smooth operations.

• Phone Support: You can contact the support team at +65 3129 8001 from Monday to Friday, 9:00 AM – 6:00 PM (UTC+8) for direct assistance.
• Email Support: Queries can also be sent to youbiz.help@you.co, where a support representative will respond within business hours.

In addition to direct support, YouBiz provides a chatbot that helps users find relevant information by searching the knowledge base and FAQ articles based on keywords, which is ideal for resolving common issues quickly.

For more complex queries or troubleshooting outside of working hours, the Help Centre (available in English) serves as a comprehensive self-service resource, enabling users to find step-by-step guidance and solutions at any time.

YouBiz fees and charges you should look out for

How to open a YouBiz Business Account 

Eligibility requirements for SMEs in Singapore

Opening a YouBiz account is straightforward, with clear requirements and a smooth digital onboarding flow.

To qualify, your business must be registered and actively operating in Singapore, and the applicant should be at least 18 years old with the legal authority to accept the platform’s terms and conditions.

Required documents

For Singapore-registered businesses:

Getting started with YouBiz is quick and fully digital, with the entire sign-up process taking less than five minutes. Businesses in Singapore can utilise Singpass (MyInfo Business) for a fast and automated application that directly pulls in company details, reducing the need for manual data entry.

If you prefer, you can also complete the application manually by submitting basic company and identification documents to verify your business and authorised representative. However, if you prefer or are unable to use Singpass, you’ll need to upload the following documents:

• ACRA Business Profile – Issued within the past three months.
• Identification document – A clear photo of your NRIC (front and back) or another accepted ID such as a passport, Employment Pass, or S Pass.
• Authorisation Letter – Required only if the applicant is not a company director. It must be signed by a director of the company or an authorised officer.

Once your application is submitted, YouBiz typically reviews and approves new accounts within 1–2 business days, after which you can fund your account, issue corporate cards, and start transacting globally.

For Non-Singapore businesses:

Companies registered outside Singapore must submit a Business Register or Company Registry Report containing:

• Company details – including legal name, registration number, and registered address.
• Ownership information – a full breakdown of shareholders and directors.
• Key appointment holders – such as directors or legal representatives.

The report must be issued within the past six months. If older, it must be certified as true and dated by a director. Any documents not originally in English must be accompanied by a certified English translation.

Additionally, if the person applying is not a company director, an authorisation letter signed by the director or authorised signatory is required.

In essence, YouBiz's eligibility framework strikes a balance between compliance and accessibility, making it simple for both local and international businesses to get started without the friction of traditional bank paperwork.

Application process

Singapore businesses

• Apply online via the YouBiz website.
• Choose between Singpass for instant application or manual upload for additional documents.
• Verification is usually completed within 1–2 business days.

Non-Singapore businesses

• Apply manually through the YouBiz portal.
• Upload the registry report and ownership details.
• Review and approval may take slightly longer depending on jurisdiction.

How long does it take to open a YouBiz Account

• Using Singpass: typically takes under 5 minutes to complete and submit.
• For manual applications: review and approval usually take 1–2 business days.
• You’ll receive an email confirmation once your account is verified and active.

How to start using your YouBiz Account

Once your YouBiz account is approved, getting started takes just a few steps:

1. Sign Up and Log In – Create your YouBiz account online and access your business dashboard.
2. Fund Your Account – Make your first deposit to activate payments and transfers.
3. Issue Corporate Cards – Create virtual or physical YouBiz cards for yourself and your team, with custom spend limits.
4. Start Spending – Use your card for business expenses and enjoy 1% unlimited cashback on every transaction.
5. Make Your First Transfer – Try sending an overseas payment directly through your dashboard at competitive FX rates.
6. Refer & Earn – Invite other businesses to YouBiz and earn cash rewards for each successful referral.

Who is YouBiz Business Account best suited for?

YouBiz is best suited for modern SMEs, startups, and digital-first teams that prioritise simplicity, flexibility, and global spending power over heavier operational features. Suppose your business operates on card-based OPEX, such as SaaS subscriptions, ad spends, travel, and remote team expenses. In that case, YouBiz offers a clean, intuitive setup with multi-currency accounts, 0% FX fees on card transactions, and 1% uncapped cashback, making it ideal for managing international expenses without hidden markups.

It's also a strong fit for teams that don't rely on bulk payouts or government-linked payment rails such as CPF or tax GIRO. In other words, if your finance stack is more about streamlining day-to-day spending and cross-border payments than processing payroll or compliance-heavy disbursements, YouBiz Singapore can help you with the same.

However, if your operations demand complex approvals, bulk payments, or direct CPF/tax integrations, you might find Aspire’s all-in-one ecosystem more aligned with those needs.

The Alternative: YouBiz vs Aspire

Businesses looking for an all-in-one finance solution should consider Aspire, a fintech company with a presence across Asia that has helped over 15,000 companies save time and money. Aspire offers multi-currency accounts, corporate cards, expense management solutions, in addition to enabling fast international payments at market-leading FX rates and offering useful features like bulk payments, accounting software integration and much more. It’s backed by world-class venture capitalists, including Lightspeed, Sequoia, Tencent, and PayPal Ventures, just to name a few. 

With Aspire, businesses can easily make PayNow transfers to other accounts and direct employee CPF contributions. In comparison, YouBiz business accounts lack PayNow capabilities, which can be a drawback for businesses that require quick and easy transactions. 

Aspire’s bulk payments feature streamlines payments to suppliers, vendors and payroll processing. Businesses can make thousands of payments in a few clicks by simply uploading transfer information via a CSV file.

On the operational side, Aspire simplifies spend management with automated payables and billing tools, including vendor directories, scheduled payments, and digital receipt management. Businesses can also establish role-based permissions, budgets, and approval workflows to maintain financial control and governance as teams expand. For companies seeking customisation, Aspire's open API and developer integrations allow seamless linking with internal systems or third-party platforms, supporting greater automation and scalability.

Aspire’s Yield feature allows businesses to earn returns on idle balances in SGD and USD, turning everyday funds into a working capital advantage with next-day liquidity. The platform also features an extensive Perks and Rewards programme, providing users with access to over USD $500,000 worth of discounts and credits on popular SaaS, cloud, and productivity tools, which helps startups and SMEs reduce their operating costs.

Aspire offers competitive, market-leading FX rates and transparent fees so businesses know what they need to pay upfront. With YouBiz, fees associated with SWIFT transactions are not disclosed, making it challenging for businesses to estimate the total expenses incurred by using their platform for business account transactions. While YouBiz offers low FX rates, it still charges up to 0.4% on top of its transaction partner's markup, which can add up across multiple transactions. 

Here is a summary of some key differences:

Aspire Business Account

• Faster account opening within 1 business day
• Free transfers via your USD account to SGD, AUD, CAD, CZK, DKK, EUR, GBP, HKD, HUF, IDR, INR, MXN, MYR, NOK, PHP, PLN, RON, SEK, USD.
• Transparent and affordable SWIFT and FX rates 
• Supports PayNow QR  for sending and receiving offline payments (YouBiz does not)
• Supports Payroll, CPF, and corporate tax payments (YouBiz does not)
• Supports bulk payment (YouBiz does not)

Aspire Corporate Cards

• Issue unlimited virtual cards to employees instantly
• More granular card controls and customizations

Aspire Software and Integration

• Offers integrated receivable, expense, and payable management functionalities (YouBiz does not)
• More advanced accounting integrations to Xero and Quickbooks offering hourly syncs.

Conclusion

YouBiz offers a suite of finance solutions for businesses, focusing on multi-currency accounts, corporate cards, along with bill payments and spend controls. The platform stands out with features like unlimited virtual and physical corporate cards, automatic syncing of transactions with Xero, and a transparent fee structure. Businesses looking for a streamlined finance solution with multi-currency capabilities may find YouBiz suitable, particularly smaller businesses seeking simplicity in financial operations.

When considering alternatives, Aspire emerges as a comprehensive finance solution with a broader range of features. Aspire offers faster account opening, support for PayNow QR, streamlined bulk payments, and transparent fees. Notably, Aspire's corporate cards provide more granular controls, and its accounting integrations are more advanced, supporting platforms like Xero and Quickbooks with hourly syncs. Businesses looking for a more robust and feature-rich finance solution might find Aspire to be more comprehensive compared to YouBiz. It's crucial for businesses to weigh their specific needs and preferences when choosing between these platforms.

Open an account with Aspire today.