# Tazapay: Global Collection Accounts and payouts

> Collection accounts and payouts for exporters, marketplaces, platforms and online businesses, from a Singapore payment institution. A company gets named collection accounts in its own name with local details in ten currencies, including NGN, IDR, KRW and VND, holds one balance and pays out to 100+ countries or to its own bank. Opening is free; collection-account pricing is given by sales, local payouts cost US$2 to US$5 and SWIFT payouts US$5 to US$35.

Finzil profile: https://finzil.com/providers/tazapay · Provider website: https://tazapay.com · Facts checked: 2026-10-23

## Key facts

- **Monthly fee:** Not published (set in a pricing addendum)
- **Setup fee:** Free
- **Currencies:** 10 (for collection accounts; payouts in 51)
- **Onboarding:** 3–5 business days (for business verification)
- **Provider type:** Major payment institution
- **IBAN:** Named collection accounts in your company's name with a local account number or IBAN, held by Tazapay
- **Payment rails:** Local bank transfers, SWIFT, SEPA and Faster Payments (SEPA and Faster Payments for incoming EUR and GBP)
- **Cards:** Not offered
- **Safeguarding:** Client money trust account at a Singapore bank (not named)
- **Remote opening:** Yes
- **Headquarters:** Singapore
- **Trustpilot:** 1.7 from 503 reviews (checked 2026-10-23)

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Not published
- **Countries of incorporation accepted:** Åland Islands, Algeria, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua & Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belgium, Belize, Benin, Bermuda, Bhutan, Bolivia, Botswana, Bouvet Island, Brazil, British Indian Ocean Territory, British Virgin Islands, Brunei, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Cape Verde, Caribbean Netherlands, Cayman Islands, Chad, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Comoros, Congo - Brazzaville, Congo - Kinshasa, Cook Islands, Costa Rica, Côte d’Ivoire, Croatia, Curaçao, Cyprus, Czechia, Denmark, Djibouti, Dominica, Dominican Republic, Ecuador, Egypt, El Salvador, Equatorial Guinea, Eritrea, Estonia, Eswatini, Ethiopia, Falkland Islands, Faroe Islands, Fiji, Finland, France, French Guiana, French Polynesia, French Southern Territories, Gabon, Gambia, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guadeloupe, Guam, Guatemala, Guernsey, Guinea, Guinea-Bissau, Guyana, Heard & McDonald Islands, Honduras, Hong Kong SAR China, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kenya, Kiribati, Kuwait, Kyrgyzstan, Laos, Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg, Macao SAR China, Madagascar, Malawi, Malaysia, Maldives, Malta, Marshall Islands, Martinique, Mauritania, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montserrat, Morocco, Mozambique, Namibia, Nauru, Nepal, Netherlands, New Caledonia, New Zealand, Nicaragua, Niger, Nigeria, Niue, Norfolk Island, Northern Mariana Islands, Norway, Oman, Pakistan, Palau, Palestinian Territories, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn Islands, Poland, Portugal, Puerto Rico, Qatar, Réunion, Romania, Rwanda, Samoa, San Marino, São Tomé & Príncipe, Saudi Arabia, Senegal, Seychelles, Sierra Leone, Singapore, Sint Maarten, Slovakia, Slovenia, Solomon Islands, South Africa, South Georgia & South Sandwich Islands, South Korea, Spain, Sri Lanka, St. Barthélemy, St. Helena, St. Kitts & Nevis, St. Lucia, St. Martin, St. Pierre & Miquelon, St. Vincent & Grenadines, Suriname, Svalbard & Jan Mayen, Sweden, Switzerland, Taiwan, Tajikistan, Tanzania, Thailand, Timor-Leste, Togo, Tokelau, Tonga, Trinidad & Tobago, Tunisia, Türkiye, Turkmenistan, Turks & Caicos Islands, Tuvalu, U.S. Outlying Islands, U.S. Virgin Islands, Uganda, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Uzbekistan, Vanuatu, Vatican City, Vietnam, Wallis & Futuna, Western Sahara, Zambia, Zimbabwe (only these)
- **Countries of incorporation refused:** Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Burundi, Central African Republic, Cuba, North Korea, Haiti, Iran, Iraq, Kosovo, Lebanon, Libya, North Macedonia, Mali, Montenegro, Myanmar (Burma), Russia, Serbia, Somalia, South Sudan, Sudan, Syria, Venezuela, Yemen
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Private limited companies, Public companies, Partnerships, Sole proprietors, Freelancers

## Industries

- **Industries served:** Travel, Video games, E-commerce, Marketplaces, Financial institutions, SaaS, Import and export
- **Prohibited industries (provider's own list):** Selling of likes or followers for social media; Tattoo parlours or massage parlours; Outbound telemarketing; Pawn shops; Affiliation with religious, political, or social campaigning; Aroma, organic, or herbal products misrepresented as having medical or pharmaceutical benefits (where such representation is prohibited by Applicable Laws); Credit repair services; Tobacco, cigars, electronic cigarettes, and nicotine products; Unlicensed tax, accounting, and legal firms; Adult entertainment, websites, or content; Counterfeit items or goods; Espionage equipment and accessories; Gambling providers or transactions, including games of chance; Illegal downloads of movies, music, computer and video games; Illegal or unlicensed sale of financial information; Mail order bride services; Money changers or unlicensed money transmission services; Online pharmacies; sale of prescription drugs or devices online; Poisonous and hazardous materials; Pyramid or Ponzi schemes; Shell banks and companies; Signal jammers or blockers that interfere with cellular or communication devices; Stolen goods, including digital and virtual goods; Surrogacy services; Illegal or unlicensed investment schemes; Prohibited industries as designated by major card schemes or Payment Partners (where not otherwise classified in Category 3); Drugs or drug proprietors selling illegal substances; Human remains and body parts; Products or services promoting abuse, hatred, racism, religious persecution, terrorism, violence, or containing offensive content; Sanction list inclusions (global); Trade of weapons, ammunition, military arms, explosive devices, and firearm parts; Drug paraphernalia (source: https://tazapay.com/legal-docs/acceptable-use-policy)
- **Permitted industries (provider's own list):** Travel (OTAs, tour operators, DMCs); Online gaming (developers, publishers, distributors, marketplaces); E-commerce and marketplaces; Fintech, remittance and treasury platforms; SaaS (HR and EoR, adtech, cloud); Digital goods (edtech, stock media, music); B2B goods and services exporters; Marketplace merchants

## Licences

- Singapore: MAS, Major payment institution, TAZAPAY PTE. LTD., register no. PS20200638 (https://eservices.mas.gov.sg/fid/institution/detail/412758-TAZAPAY-PTE-LTD)
- Canada: FINTRAC, Money services business, Tazapay Canada Corp., register no. M21439799
- Canada: Bank of Canada, Payment service provider (Retail Payment Activities Act), Tazapay Canada Corp.
- United States: FinCEN, Money services business registration, Tazapay US Corp., register no. 31000321683608
- Australia: AUSTRAC, Remittance service provider, TAZAPAY PTY LTD, register no. IND100883140-001 (https://online.apps.austrac.gov.au/rsr/)
- Hong Kong: Customs and Excise Department, Money service operator, TAZAPAY HK LIMITED, register no. 26-04-03335 (https://eservices.customs.gov.hk/MSOS/wsrh/001s1)

Safeguarding: Tazapay is not a bank. For a company contracted by TAZAPAY PTE. LTD., customer money is safeguarded under Singapore's Payment Services Act in an omnibus client money trust account at a Singapore bank, or a segregated account backed by the bank's undertaking; the bank is not named and the money is not deposit-insured. Collection accounts are ledger accounts: Tazapay holds the money in its own regulated accounts. Under Tazapay HK Limited the money is not safeguarded.

## Fees

Source: https://tazapay.com/pricing (checked 2026-10-23)

### Plans

- **Standard:** Not published
- **Custom:** Custom pricing

### Incoming

- Local transfer from another bank: Not published · Global Collection Accounts: contact sales

### Outgoing

- SWIFT / international: $5–35 · SWIFT payouts
- SWIFT / international (Own bank account): $35 · Wire settlement to your own bank account under US$10,000; free from US$10,000
- Local transfer to another bank: $2–5 · Local payouts
- Local transfer to another bank (Own bank account): $5 · Settlement to your own bank account in local currency under US$1,000; free from US$1,000

### Currency exchange (FX)

- FX markup: Not published · Tazapay sets the rate and may include its own markup; customised FX on the Custom plan

### Cards

- Virtual card issue: Not offered

## Opening an account

Tazapay states 3 to 5 business days for business verification; each collection account is then reviewed and approved separately.

1. **Sign up.** Sign up at dashboard.tazapay.com/signup and verify your email.
2. **Business verification.** Complete KYB in the dashboard: business details, directors or partners, owners with 25% or more, users, bank details and documents.
3. **Review.** Tazapay reviews the business, typically in 3 to 5 business days.
4. **Collection accounts.** Request a collection account for each currency or market. After a compliance review the details appear in the dashboard: the same day in Singapore, the EEA, the UK, Canada, the US and Australia, 1 to 2 days in Nigeria and Vietnam, two weeks in Indonesia.

Documents: Business registration documents; Share ownership and list of directors and officers; Operating address proof (within 6 months); IDs of UBOs with 25% or more; IDs of all directors; Authorised representative ID and proof of address; Business website; Sole proprietors: owner ID and address proof, operating address proof, business registry document, trading name

## Pros and cons

- Pro: No fee to open or close the account
- Pro: Named collection accounts in your company's name with local details in Nigeria, Indonesia, Singapore, South Korea, Vietnam, the EEA, the UK, Canada, the US and Australia
- Pro: One balance across all collection accounts, with payouts to 100+ countries in 51 currencies
- Pro: Local payouts from US$2 to US$5 and SWIFT payouts from US$5 to US$35
- Pro: Settlement to your own bank account is free from US$1,000 in local currency and from US$10,000 by wire
- Pro: Accepts sole proprietors, freelancers, partnerships and private and public companies from most countries
- Pro: Support by email, Slack, WhatsApp and Telegram, with a dedicated account manager
- Con: Collection-account pricing is given by sales, and the monthly fee is set in a pricing addendum
- Con: The exchange margin is not published: Tazapay sets the rate and may include its own markup
- Con: Collection accounts only receive money: no card, chequebook or direct debit
- Con: Settlement to your own bank costs US$5 under US$1,000 in local currency and US$35 under US$10,000 by wire
- Con: Companies in 27 countries and regions are refused, including Russia, Belarus, Serbia, Albania, Bosnia and Herzegovina, North Macedonia, Montenegro, Kosovo and Venezuela
- Con: Companies outside Singapore, Canada and Hong Kong are assigned one of Tazapay's three companies at its discretion, and under Tazapay HK Limited the money is not safeguarded
- Con: Each collection account is requested and approved separately; Indonesian accounts take about two weeks

## Finzil's take (opinion)

Tazapay suits an exporter, marketplace or platform that needs local collection details in emerging markets such as Nigeria, Indonesia, South Korea or Vietnam alongside the major currencies. Collection pricing and the exchange margin come only from sales, and its Trustpilot score is low, so get a written quote and test a small payment first.

## Alternatives

- [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK
- [Instarem](https://finzil.com/providers/instarem): Major payment institution · Singapore
- [WorldFirst](https://finzil.com/providers/worldfirst): E-money institution · UK
- [Payoneer](https://finzil.com/providers/payoneer): E-money institution · UK

## FAQ

**Is Tazapay a bank?**

No. Tazapay Pte. Ltd. is licensed by the Monetary Authority of Singapore as a major payment institution (PS20200638). The group also holds registrations with FINTRAC and the Bank of Canada, FinCEN, AUSTRAC and Hong Kong customs. Collection accounts are ledger accounts: Tazapay holds the money in its own regulated accounts and gives you the bank details to share with payers.

**Who owns Tazapay?**

Tazapay is a Singapore company. On 8 September 2026 it announced that Circle Internet Group (NYSE: CRCL) has signed an agreement to acquire it; closing is expected in 2027, subject to regulatory approvals including the Monetary Authority of Singapore's. Tazapay says contracts, virtual accounts and licences continue unchanged. Source: tazapay.com/blog/circle-acquires-tazapay.

**Which Tazapay company will my company contract with?**

A Singapore company contracts with Tazapay Pte. Ltd., a Canadian company outside Quebec with Tazapay Canada Corp. and a Hong Kong company with Tazapay HK Limited. Companies elsewhere are assigned one of the three at Tazapay's discretion and must confirm they approached Tazapay on their own initiative.

**How much does Tazapay cost?**

Opening and closing the account are free. Collection-account pricing is given by sales. Local payouts cost US$2 to US$5 and SWIFT payouts US$5 to US$35. Settlement to your own bank account costs US$5 under US$1,000 in local currency and US$35 under US$10,000 by wire, and is free above those amounts. The exchange margin is not published.

**Can I fix an exchange rate for a future payment?**

No. Tazapay publishes no forward contracts; its terms say it is not a currency trading platform, and conversions are at the rate when the payment is made.

**Does Tazapay accept gambling businesses?**

No. Gambling providers and games of chance are prohibited. Fantasy sports, e-sports tournaments and games of skill without cash prizes are high-risk industries that Tazapay may accept after enhanced due diligence.

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