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Aspire Business Account vs Airwallex Business Account
Aspire helps startups, SMEs, and mid-sized companies handle their finances end-to-end, from multi-currency accounts to expense management. Airwallex is a global payments platform known for competitive FX rates and multi-currency accounts, built for cross-border businesses. Here's how they compare.
About Aspire
Aspire Business Account is a Multi-Currency Business Account offered by Aspire, who operates as a Payment Services Institution in Singapore.
About Airwallex
Airwallex Business Account is a Multi-Currency Business Account offered by Airwallex, who operates as a Major Payment Institution in Singapore.
Aspire Business Account vs Airwallex Business Account key differences
Here's a side-by-side comparison of both accounts to highlight key differences and help you choose the best business account for your needs.
| Payment Services Institution | Major Payment Institution | |
|---|---|---|
| Business account | ||
| Account type | Multi-Currency Business Account | Multi-Currency Business Account |
| Payment rails | Domestic: FAST, GIRO, MEPS, PayNow, Local TT International: ACH, SEPA, SWIFT, FPS | Domestic: FAST, GIRO, RTGS, PayNow International: SWIFT |
| Local collection accounts | 8 currencies (SGD, USD, EUR, GBP, MYR, PHP, IDR, VND) | 20+ currencies (SGD, USD, GBP, EUR, AUD, HKD, etc) |
| Batch payments | Supports in SGD, INR, USD, IDR, MYR, EUR, PHP, AUD, THB, VND | Supports in 60+ currencies |
| API | Yes | Yes |
| Expense management | Offered natively for free; full expense management: corporate cards, real-time spend tracking, approval workflows, employee claims & reimbursements, budget management, receipt upload, accounting integration | Offered natively; full expense management: corporate cards, real-time expense tracking, spend policies, receipt capture, approval workflows; free for Explore, paid via membership |
| Invoicing | Offered natively | Offered natively |
| Pricing and fees | ||
| Monthly fee | No monthly fee (Basic plan) / SGD $15 (Premium plan) | No monthly fee (Explore); SGD $79 (Grow); from SGD $399 (Accelerate) |
| Account set up fee | No account setup fee | No account setup fee |
| Minimum balance | No minimum balance required | No minimum balance required |
| Local transfer fee (sending) | PayNow, FAST, Recurring/ Scheduled Transfers, Local TT: Free | FAST, GIRO, RTGS: Free |
| International transfer fee (sending) | SWIFT: USD $15 (SHA), USD $30 (OUR) | SWIFT: SGD $20-35/transfer (SHA and OUR) |
| Receiving payments fee | Local Receive: Free International Receive: SGD $35 for SGD account / USD $8 for other accounts via SWIFT | Local Receive: Free International Receive: Free |
| FX markup | From 0.22% | 0.4% for major currencies, 0.6% for all others |
| Global coverage | ||
| Supported currencies | 30+ currencies: SGD, USD, EUR, GBP, AUD, CAD, HKD, JPY, INR, IDR + 20 currencies more | 60+ currencies: SGD, USD, EUR, GBP, AUD, HKD, CAD, JPY, CHF, NZD + 50 currencies more |
| Global payment network | 130+ countries | 200+ countries |
| Integrations and ecosystem | ||
| Integration with third-party apps | 30+ integrations. Key apps: Amazon, Apple Pay, Xero, Info-Tech, Stripe | 30+ integrations. Key apps: Stripe, PayPal, Shopify, Amazon, Xero, Quickbooks |
| Accounting software integrations | Integrates with 10+ softwares. Direct integration with Xero and Quickbooks | Integrates with 6 softwares. Direct integration with Xero, QuickBooks, NetSuite, Odoo, Sage, Microsoft Dynamics 365 Business Central |
| E-commerce integration | Yes, with Shopify, Temu, Shopee, Amazon | Yes, with Amazon, Shopify, Magento, and WooCommerce |
| ERP Integration | Yes | Yes |
| Support | ||
| Customer support | In-app live chat; email | Online Help Centre; In-app support |
Business account
Pricing and fees
Global coverage
Integrations and ecosystem
Support*Fees may vary, Comparison as of July 2026
Trusted by 50,000+ modern businesses
4.5 rating
3 reasons why Aspire is better
Aspire is built to be your primary business account, helping you save more, earn more, and move faster in your day-to-day operations. Here's how Aspire stands out.
Full expense management with approval workflows: free on Aspire's Basic plan
Aspire includes corporate cards, real-time spend tracking, approval workflows, and employee claims at no cost on the Basic plan, with no cap on spend users. On Airwallex, approval workflows are only available on paid Grow and Accelerate plans, meaning businesses on the free Explore tier have limited control over company spending. For startups and SMEs that need proper spend governance without a monthly subscription, Aspire's free tier is more complete.
Reduce the cost of global payments
Aspire helps businesses keep international SWIFT transfer costs low, making cross-border payments more cost-efficient than with Airwallex. Aspire's FX markup starts from 0.22% onwards whereas Airwallex charges 0.4% for major currencies, and 0.6% for all others
Start with lower ongoing costs
Aspire's Basic plan is free and the Premium plan only costs SGD $15 per month, while Airwallex's paid plans start at SGD $79 per month. Many businesses may find Aspire more cost-effective.
How Aspire works
Aspire brings together the security of traditional banking with the innovation of modern fintech to create the future of business finance. Here's what makes our platform uniquely powerful:
Trusted banking foundation
Your money is safeguarded in Tier 1 banks like DBS Singapore, and backed by partnerships with Citibank, JPMorgan, and Visa. Get the security of traditional banking with the speed of modern fintech - all fully compliant with MAS regulations.
Seamless global payments
Send and receive payments in 30+ currencies across 130+ countries at market-leading rates. Our transparent fee structure means no surprises, while smart workflows streamline your operations from payroll to revenue collection.
AI-powered financial control
Take charge with intelligent tools built for modern business. From multi-level approvals to real-time fraud detection, automated reconciliation to comprehensive integrations - work smarter, not harder.
Run your finances from one place
Open a multi-currency business account with no monthly fee, built-in invoicing, and real-time expense tracking.
Frequently asked questions about Aspire Business Account vs Airwallex Business Account
Choose Aspire over Airwallex Business Account if your business needs more than just a multi-currency account. Aspire brings a lower FX markup starting from 0.22%, native invoicing, and deep integrations with Xero, Shopify, and more, all in one platform. For finance teams that want to consolidate their stack and reduce the number of tools they manage, Aspire's breadth of functionality gives it a clear edge. <div
Airwallex is a option for businesses operating at significant international scale, its batch payment support across 60+ currencies and robust accounting integrations (including NetSuite and Dynamics 365) serve more complex finance operations. If your business already uses an enterprise ERP system and needs deep API connectivity for payment automation, Airwallex's technical infrastructure may suit you better. <div
Airwallex gates expense management and approval workflows behind paid tiers starting at SGD $79 per month. Aspire includes both on its free Basic plan, alongside FX from 0.22% compared to Airwallex's 0.4% on major currencies and 0.6% on others. For most Singapore SMEs managing finance operations alongside international transfers, Aspire delivers more at a lower entry cost. Airwallex is the stronger option for very high-volume cross-border payments and enterprise ERP integrations at scale. <div
Aspire offers better value for most businesses. Airwallex gates key features like expense management and approval workflows behind paid tiers, while Aspire includes them at no cost regardless of business size. Aspire's FX markup is also lower than Airwallex's standard rates. For businesses that need both operational tools and international payments without paying for a premium plan, Aspire delivers more for less. Airwallex offers value for very high-volume cross-border payment businesses that need its enterprise-grade FX infrastructure at scale.
Hear it first from our customers
Gregory Van
CEO of Endowus
“As a startup, we needed more flexible solutions to support our increasing needs, as well as ones that’d make the most financial sense in supporting our growth.”
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Holly Qian
Head of Finance at First Page
“By leveraging Aspire, First Page aimed to establish tighter control over our financial outflows, ensuring that all media spending stayed within the allocated budget limits. This was crucial for maintaining financial discipline and ensuring that our company’s marketing efforts were both effective and sustainable.”
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William Chong
Finance Director at Glints
“In the past, we used different devices for calls, music, and work. Just like smartphones brought everything together, Aspire elegantly combines corporate cards, FX, business accounts, payables, and much more, into one user-friendly interface.”
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