# UQPAY: Global Account

> A Singapore payments platform with a multi-currency Global Account for businesses: named local receiving accounts in USD, EUR, GBP, SGD and AUD, FX from 0.25%, local transfers from $0.2 and SWIFT at $15 to $35, and Visa cards. The Basic plan is $0 a month and Pro $69. Signed up directly at app.uqpay.com; licensed in Singapore, the US, Hong Kong and Australia.

Finzil profile: https://finzil.com/providers/uqpay · Provider website: https://uqpay.com · Facts checked: 2026-10-21

## Key facts

- **Monthly fee:** $0 (Basic; Pro $69)
- **Setup fee:** Free
- **Currencies:** 5 (Hold 5; pay out 54 on Basic, 140 on Pro)
- **Onboarding:** 3–5 days (typical)
- **Provider type:** Payment institution group (Singapore, US, Hong Kong, Australia)
- **IBAN:** Named local receiving accounts per currency (US account and routing numbers); no IBAN named
- **Payment rails:** SWIFT, ACH, local transfers
- **Cards:** Virtual and physical Visa cards
- **Safeguarding:** Funds held with global financial partners
- **Remote opening:** Yes
- **Headquarters:** Singapore

## Who can apply

- **Non-resident owners** (owner or director living outside the company's country): Not published
- **Countries of incorporation accepted:** Not published
- **Countries of incorporation refused:** Not published
- **Owner residency accepted:** Not published
- **Owner residency refused:** Not published
- **Owner nationality refused:** Not published
- **Company types accepted:** Not published

## Industries

- **Industries served:** E-commerce, Import and export, Marketplaces, Startups and SMEs
- **Prohibited industries (provider's own list):** adult entertainment and its affiliated services, inclusive of pornography, services of sexual nature (e.g. escort services, prostitution services), establishments that are sexually oriented and any form of advertising related to sexual services;; gambling services in regions where such activities are illegal or where gambling services are provided without the requisite permits or licenses;; counterfeit or unauthorised goods, products, or services that violate the intellectual property or proprietary rights of third parties;; manufacturing, sales, or supplies related to arms and weapons;; offering, facilitating, or otherwise engaging in activities constituting regulated financial services (as defined under applicable laws or regulations), whether directly or indirectly without a valid license, registration, or authorisation from the competent regulatory authority;; sale and/or distribution of any product or service without the essential permit or license as mandated by the governing authorities or statutory boards;; sale and/or distribution of products or services promoting or fostering discrimination based on race, gender, religion, nationality, disability, sexual orientation, or age;; activities associated with Ponzi/ Pyramid Scheme/ Multi-Level Marketing/ Telemarketing;; trade involving restricted and/or endangered animal species and products derived from them;; sale, distribution, and/or trade of cultural property, artefacts, or relics, including any items of archaeological, historical, and cultural significance, whether or not such activities are licensed of permitted under applicable laws;; transactions lacking genuine commercial intent, such as pooling funds among multiple parties or cashing out credit or stored value cards; or; any other businesses or transactions falling outside our risk tolerance as outlined by our internal policies, those of our banking partners, or participants within our payment network. (source: https://www.uqpay.com/zh/company/terms)
- **Permitted industries (provider's own list):** Cross-border e-commerce; Global brands; Trading companies; Multi-entity groups; Businesses paying overseas suppliers or employees

## Licences

- Singapore: Monetary Authority of Singapore, Major Payment Institution, UQPAY Pte. Ltd., register no. PS20200641 (https://eservices.mas.gov.sg/fid/institution/detail/413203-UQPAY-PTE-LTD)
- Singapore: Monetary Authority of Singapore, Capital Markets Services licence (fund management), UQ Capital Management Pte. Ltd., register no. CMS101336
- United States: FinCEN, Money services business registration, UQPAY Inc., register no. NMLS ID 2672177
- United States: Arkansas Securities Department, Money transmitter licence, UQPAY Inc.
- Hong Kong: Hong Kong Customs and Excise Department, Money service operator, UQPAY Limited, register no. 25-11-03304
- Australia: AUSTRAC, Digital currency exchange and remittance registration, UQPAY Pty Ltd
- Australia: ASIC, AFS authorised representative, UQPAY Pty Ltd

Safeguarding: UQPAY is not a bank. Funds are held with unnamed global financial partners; UQPAY Pte. Ltd. is a MAS-licensed major payment institution. No deposit protection scheme is mentioned.

## Fees

Source: https://www.uqpay.com/en/pricing (checked 2026-10-21)

### Plans

- **Basic:** Free
- **Pro:** 69 USD a month (First month free)
- **Enterprise:** Custom pricing

### Outgoing

- SWIFT / international: From $15 · $15 to $35 depending on SHA or OUR
- Local transfer to another bank: From $0.2

### Currency exchange (FX)

- FX markup: From 0.25%

### Cards

- Virtual card issue: Not published

## Opening an account

Opening an account typically takes three to five business days.

1. **Sign up.** Register at app.uqpay.com.
2. **Business verification.** Complete KYB in the web dashboard.
3. **Approval.** UQPAY reviews the application; no timeframe is published.
4. **Account live.** Open receiving accounts and order cards from the dashboard.

Documents: Not published

## Pros and cons

- Pro: Named local receiving accounts in USD, EUR, GBP, SGD and AUD
- Pro: A $0 Basic plan and a $69 Pro plan
- Pro: FX from 0.25% and local transfers from $0.2
- Pro: Payouts in 54 currencies on Basic and 140 on Pro
- Pro: Visa virtual and physical cards with cashback
- Pro: Licensed in Singapore, the US, Hong Kong and Australia
- Con: Accepted countries, owner rules and the opening time are not published
- Con: SWIFT payments cost $15 to $35
- Con: Charities and non-profits need UQPAY's explicit consent
- Con: Casinos, lotteries and online gambling need approval; adult, illegal gambling and several other lines are prohibited
- Con: Trustpilot has no profile

## Finzil's take (opinion)

UQPAY is a credible Singapore alternative to Airwallex for cross-border businesses that want local receiving accounts and cards, with a free tier. Its eligibility and opening time are not published, so test the sign-up with your company details.

## Alternatives

- [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK
- [Wise Business](https://finzil.com/providers/wise): E-money institution · UK, Belgium
- [Payoneer](https://finzil.com/providers/payoneer): E-money institution · UK
- [Ebury](https://finzil.com/providers/ebury): E-money institution · UK

## FAQ

**Is UQPAY a bank?**

No. UQPAY Pte. Ltd. is a Major Payment Institution licensed by the Monetary Authority of Singapore (PS20200641), with group licences in the US, Hong Kong and Australia.

**How much does UQPAY cost?**

The Basic plan is $0 a month and Pro is $69 (first month free). Local transfers start at $0.2, SWIFT payments cost $15 to $35 and FX starts at 0.25%.

**Which currencies can I hold?**

USD, EUR, GBP, SGD and AUD, with payouts in 54 currencies on Basic and 140 on Pro.

**Which businesses does UQPAY not accept?**

Its list includes adult entertainment, illegal gambling and gambling without permits, and other restricted lines. Casinos, lotteries and online gambling need UQPAY's explicit approval.

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