Volopay features a wide range of quality service products and is known as a unified financial control center for modern business. It consists of intelligently integrated business accounts, multi-level approvals, corporate credit cards, expense management, employee reimbursement methods and accounting automation.
Volopay is a financial solution provider that not only offers automated financial management, but also as a corporate account provider that can help its users save time and money while improving the role of their financial team.
Here we summarize Volopay company accounts for you.
What Is Volopay Company Account?
Volopay provides business banking account services that are equipped with multi currency accounts to simplify the process of deposits, payments, tracking expenses without minimum limits, lower fees, and without any maximum limits in the transaction process.
In this company's account, Volopay provides a line of credit that can be approved instantly, without personal guarantees and with minimal paperwork. In addition, there are also corporate credit card features that can be used with unlimited flexibility.
Facilities And Key Features of Volopay Corporate Accounts For Business Financial Management
Multi-Currency Capability
Save funds in up to 11 different foreign currencies. The use of global currency accounts can unlock the full potential of business expansion strategies, these accounts can also be used to store funds using a variety of major currencies. Volopay provides a low FX fee offer for all overseas transaction payments.
International Money Transfers
Volopay offers low exchange fees on every expense made on its platform, from cross-border supplier payment transactions to remittance fund transfers for employees.
Payment made by Volopay is different from most banking transactions in general, where users can easily choose a vendor or employee to whom they want to transfer funds. The transaction process can be completed in seconds through a very fast international money transfer service.
Corporate Credit Card
Volopay provides its users with the opportunity to empower employees through physical and virtual credit cards. Without the need to use various kinds of bank accounts and transaction tools to operate the business intelligently. Volopay has combined the best software with every necessary banking service to create a state-of-the-art financial platform.
Cost Management
Instead of lump sum work done at the end of the month or aiming for payment, you can use the automation system owned by Volopay to be able to perform control performance. Organize and track every dollar spent by your business.
Platform Integration
Users can manage vendors, approve invoices and make payments automatically. Billing process governance as well as payment approval process can be easily accessed in one elusive platform.Â
Get these features by simply accessing Volopay, managing efficiently using a single platform for company operations and finances. Have control using multi-level approvals and know everything in real time.
Accounting Automation
With automated use, you can save time in closing the book faster every month. Accounting automation software helps maintain your accounting structure, from swiping cards to closing books with the world's fastest live integration, and synchronization notifications can be made in real time. No manual recording and no anonymous transactions.
Integrate all tools and software used in daily activities, such as using accounting integration software with Journals, Xero, QuickBooks, Deskera, and NetSuite.
Costs Associated with The Facilities Offered
The time it takes to open an account is just a matter of minutes, with no additional fees such as the initial deposit and minimum balance.
Volopay, which presents multi-currency business accounts globally to facilitate international transactions for its users, can also store funds in different currencies, and avoid expensive fees at foreign exchange rates.
How to open a Volopay company account and the requirements needed
You can apply for a Volopay corporate account by registering directly through the official Volopay website where you will be directed to fill in the company data. Or by contacting customer service at whatsapp number +62 822-1012-9313.
The requested Company data includes the Company Deed, tax legality, and permits from the Online Single Submission (OSS) system.
Strategy for Using Volopay Company Accounts for Filing and Reporting Company Expenses
Multi-Level Access
Each transaction is linked to the employee, where the employer can give the employee the authority in budget processing. So that the stages of approval and submission of policies can be done in a multi-level and configured.
Unlimited Virtual Cards
Virtual credit and debit cards, presented by Volopay, open up an efficient way to manage corporate payments. Through the Volopay virtual card, it will simplify the online payment process, and control SaaS subscription payments. You can empower employees by giving them financial autonomy as well as flexibility in making payments without using personal funds.
Real Time Expense Tracking
These corporate accounts not only manage spending transaction restrictions intelligently, but can also report them directly. This process can be monitored through a dashboard that features real-time updates.
Automated Reports
Accounting automation software helps process your accounting reports, such as verifying transactions and synchronizing with accounting automation software. Abandon manual logging and start using Volopay smart corporate account accounts.
Comparison of Volopay Corporate Accounts with Corporate Accounts of Other Banks
Automation Of Accounting
The system can be set to connect with the general ledger so as to create financial statements automatically. The system can also be connected to accounting software (Journal, Xero, QuickBooks, Deskera, and NetSuite) and then work on the classification and synchronization of transactions to the ledger automatically. Corporate accounts of other financial institutions are generally limited in carrying out the integration process.
Vendor Management
Corporate accounts at conventional banks can usually only make payment transactions manually, while Volopay can make vendor bill payments on a scheduled and automatic basis through Bill Pay for invoice and PO payments.
Flexible Credit Lines
Flexible credit lines are available that can be adjusted according to the payment cycle. Credit lines at conventional banks generally require a long time to get approval and require complicated documents. Volopay offers fast approvable credit lines, high unsecured credit limits, and minimal requirements.
Corporate account alternative from Aspire
Business account from Aspire is a genius alternative in supporting your business’s financial activities. It provides you all the benefits that Volopay offers and many more. You can get started in minutes and access to your business account and cards immediately.
It offers a powerful business account, a rewarding corporate card, a robust expense and payable management system and many more features & benefits that makes it a preferred, fully integrated finance solution, for businesses in Indonesia.
Moreover, the Aspire web platform and apps adhere to the best data security, privacy practices available today. It also takes various measures to ensure that your money is handled in a safe and secure manner.
Key Features of Aspire Corporate Account
Powerful business account with multi-currency capabilities
Aspire offers fast, free local transfers and international transfers with transparent upfront FX rates and zero fees. With Aspire you can send and receive international payments in 30+ currencies. Aspire offers market-leading, transparent and upfront FX rates with zero fees, so you know exactly what you’re paying for. You also get access to USD and IDR Virtual Accounts to scale globally.
Corporate card with unlimited cashback
Aspire offers a powerful corporate card with unlimited cashback. Save on your business expenses by paying using an Aspire Corporate Card. Get unlimited 1% cashback on the world's best brands in digital marketing, software subscriptions (SaaS), shopping and business travel. You can avail virtual corporate cards for your entire team, issue cards online, within seconds, without any security deposits needed from your business.
Robust expense & payable management
Aspire has a robust expense management and payable management system that not only helps them control company expenses with budget, corporate cards and claim management, but also streamlines the entire account payable process for bill submission to accounting sync with software like Xero, Journal, Quickbooks, myob, Oracle Netsuite, Deskera and SAP.
Smart Invoice
Aspire offers smart invoicing, which can receive payments faster with an integrated system, so you can reduce client payment delays with automatic reminders, and get real time notifications for every incoming transaction.
Overall, Volopay and Aspire both prioritize data security and Privacy. Aspire takes data security and privacies very seriously. Aspire account offers a powerful business account, unlimited cashback, and an efficient invoicing system.
Frequently Asked Questions
How can Aspire support the unique financial needs and challenges of mid-sized businesses?
Aspire offers a comprehensive suite of expense management solutions tailored for mid-market companies. This includes sophisticated corporate cards, advanced budget controls, and streamlined claims and approval policies, all designed to enhance financial efficiency.
How quickly can a mid-market company integrate Aspire's solutions into existing systems and workflows?
Integration with Aspire's expense management solutions is swift and seamless. Mid-market companies can swiftly implement corporate cards with tailored features, set up nuanced budgets, and establish streamlined claims and approval processes, ensuring minimal disruption to existing workflows.
How does Aspire compare to competitors for international money transfers?
Aspire excels in international expense management with FX fees up to 2x cheaper than traditional banks.
Global payments are offered by various providers through business accounts. Read our article to know more about types of business accounts and how to choose the best one for your business. There are many banks and fintech companies offering business accounts to businesses in Singapore. We have covered them all in our blog, you can click the links to view accounts offered by various banks such as DBS, OCBC, Maybank etc.
However, if you are a start-up or a growing business, chances are you may not meet the eligibility criteria for most of these banks or find their charges to be expensive for your liking. You can consider opting for Aspire multi-currency account for global payments which offers you all the benefits, with eligibility criteria which are less stringent. Read our article on bank charges in Singapore for a quick and easy comparison.
What level of customization does Aspire offer to meet the specific financial requirements of mid-market clients?
Aspire understands the diverse financial needs of mid-market clients and provides a high level of customization to tailor solutions accordingly. This includes the ability to customize corporate cards with specific spending limits, rewards, and benefits that align with the unique requirements of each client.
Additionally, Aspire's budgeting features are adaptable to accommodate the distinct financial structures of mid-market enterprises. The platform also allows for fine-tuning approval policies, ensuring they align with the specific workflows and compliance standards of individual mid-market businesses. This commitment to customization empowers mid-market clients to optimize their expense management in a way that best suits their financial goals and operational preferences.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD, EUR, GBP and IDR Accounts activated.
Can Aspire's corporate cards be customized to cater to the specific needs of consulting teams on the go?
Yes, Aspire's corporate cards are highly customizable. Consulting teams can benefit from tailored spending limits, travel-centric perks, and real-time transaction tracking, ensuring that the cards meet the unique requirements of professionals on the move.
How does Aspire support budget management for consulting projects and travel expenses?
Aspire's platform offers sophisticated budget controls that consulting companies can adapt to project-specific needs. This includes setting project budgets, tracking expenditures, and receiving real-time insights to ensure that expenses align with project goals.
What are Aspire Corporate Card FX rates?
At Aspire, we want you to pay the lowest rates in the market.
- Zero card activation fees
- Zero card transaction fees
- Best FX rates, up to 2x cheaper than banks
How does Aspire help consulting companies enforce expense policies and approvals for travel expenses?
Aspire streamlines the claims and approval process, allowing consulting companies to establish and enforce expense policies seamlessly. Customizable approval workflows ensure compliance with company policies and industry regulations.
Is Aspire's platform scalable for consulting companies of varying sizes?
Yes, Aspire's platform is scalable and caters to consulting companies of all sizes. Whether you're a boutique consultancy or a larger firm, the platform's features can be adapted to meet your specific travel and expense management needs.
How can I open a business account in Singapore?
For a business account in Singapore, Aspire is an excellent choice. With a focus on startup and SME needs, Aspire offers a seamless and transparent banking experience.
Benefit from their user-friendly online platform, no minimum balance or account opening fees, and dedicated support for businesses of all sizes.
Aspire is designed to streamline your financial management, making it an ideal partner for entrepreneurs in Singapore.
How long does it take to open an Aspire business account?
Registration with Aspire takes less than 10 minutes which you can do via our website or mobile app.
Once registered, we will get back to you within 5 business days on whether your account has been activated or if we need further documents from you.
Our account verification process varies according to the nature of your business. In exceptional cases, it can take up to 7 days to process your documents.
How can Aspire's corporate cards benefit my startup?
Aspire's corporate cards offer a range of benefits for your startup. Earn 1% unlimited cashback on qualified spends, simplify expense management, enjoy streamlined transactions, and gain real-time insights into spending. With customizable limits, integration with accounting software, and enhanced security features, Aspire's corporate cards are designed to empower your startup's financial efficiency and provide added convenience for your team.
Is Aspire suitable for both early-stage and established startups?
Absolutely, Aspire caters to the needs of both early-stage and established startups. Whether you're just beginning your entrepreneurial journey or have an established business, Aspire offers tailored financial solutions to help streamline your operations.
From managing expenses and optimizing workflows to providing valuable financial insights, Aspire's platform is designed to adapt and scale with your business as it grows. The flexibility and scalability of Aspire make it a suitable choice for startups at various stages of development.
Is there a minimum balance required for Aspire Business Accounts?
No minimum balance is required to keep your SGD, USD and IDR* Accounts activated.
However, we recommend keeping your subscription plan amount available on your balance to ensure you're up to date with your payment every month.*
To create a recipient or make any transaction on your IDR Account, you'll need to have a minimum balance of IDR 10,000 on your account.
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