# YouBiz: Singapore business account > Business account and Mastercard corporate card for businesses operating in Singapore, from the team behind YouTrip. A company gets one account number in its own name with currency accounts in eight currencies, pays locally and sends money overseas in 19 currencies, and issues debit cards to its team with 1% cashback. There is no setup, monthly or annual fee; YouBiz states its exchange rates are typically 0.1 to 0.4% from wholesale rates, and overseas transfer fees are shown only in the dashboard. Finzil profile: https://finzil.com/providers/youbiz · Provider website: https://you.co · Facts checked: 2026-10-23 ## Key facts - **Monthly fee:** Free - **Setup fee:** Free - **Currencies:** 8 (to hold and receive; 19 to send overseas) - **Onboarding:** 1–2 business days - **Provider type:** Major payment institution - **IBAN:** One account number in your company's name for all eight currencies (not an IBAN) - **Payment rails:** FAST, PayNow, GIRO, MEPS, SWIFT and ACH (GIRO for incoming payments only; ACH for USD payouts to the US) - **Cards:** Mastercard debit cards, virtual and physical - **Safeguarding:** Segregated trust accounts at DBS, Standard Chartered, OCBC and Deutsche Bank - **Remote opening:** Yes - **Headquarters:** Singapore ## Who can apply - **Non-resident owners** (owner or director living outside the company's country): Not published. The business must operate in Singapore. Companies incorporated outside Singapore can apply with a registry document showing the company, its full ownership and its directors. - **Countries of incorporation accepted:** Singapore - **Countries of incorporation refused:** Not published - **Owner residency accepted:** Not published - **Owner residency refused:** Not published - **Owner nationality refused:** Not published - **Company types accepted:** Private limited companies, Sole proprietorships, Partnerships ## Industries - **Industries served:** Startups and SMEs, Import and export, E-commerce - **Prohibited industries (provider's own list):** adult entertainment; marijuana; embassies; traders in precious metals and mining; atomic power; firearms manufacturers / suppliers; casinos, gaming or internet gambling companies; offshore shell companies (source: https://www.you.co/biz/youbiz-tc) - **Permitted industries (provider's own list):** SMEs and startups in Singapore; companies paying overseas suppliers; businesses with team and travel spending; e-commerce and digital marketing spend (TikTok for Business partnership) ## Licences - Singapore: MAS, Major payment institution, YOU TECHNOLOGIES GROUP (SINGAPORE) PTE. LTD. (https://eservices.mas.gov.sg/fid/institution/detail/227802-YOU-TECHNOLOGIES-GROUP-SINGAPORE-PTE-LTD) - Australia: ASIC, Australian Financial Services Licence, You Technologies Group (Australia) Pty Ltd, register no. 558059 Safeguarding: YouBiz is not a bank. YOU TECHNOLOGIES GROUP (SINGAPORE) PTE. LTD. keeps customer money in dedicated segregated customer accounts held on trust at DBS Bank Ltd., Standard Chartered Bank (Singapore) Limited, OCBC and Deutsche Bank AG, Singapore Branch, as the Payment Services Act requires. The money earns no interest and is not covered by the Singapore Deposit Insurance Scheme. ## Fees Source: https://youbiz.zendesk.com/hc/en-us/articles/6188587658393-Is-there-a-fee-for-sending-money-overseas (checked 2026-10-23) ### Plans - **YouBiz:** Free ### Incoming - Local transfer from another bank: Free · All incoming payments, by FAST, GIRO, MEPS, PayNow or telegraphic transfer ### Outgoing - SWIFT / international: Not published · Overseas transfers: a tiered fixed and variable fee, shown only in the dashboard's Transfer Calculator - SWIFT / international (China): $30 · SWIFT payments to China, converted to the currency you send from - Local transfer to another bank: Free · SGD transfers to a local bank; local transfers in other currencies carry a remittance fee that is not published - Local transfer to another bank (China): Free · Local CNY transfers to China over 10,000; a nominal fee applies to 10,000 and less, amount not published ### Currency exchange (FX) - FX markup: 0.1–0.4% · The difference YouBiz states between its exchange rates and wholesale rates ('typically 0.1 to 0.4%'). The '0% FX fees' headline means no separate fee on card spending abroad or on exchanges between your currency accounts ### Cards - Card FX: Free · No fee on card spending in foreign currencies, including processing and network fees; the exchange rate is YouBiz's rate - ATM withdrawal: Free · Overseas ATM withdrawal fee waived for now; cards cannot withdraw at Singapore ATMs ## Opening an account 1. **Sign up.** Register at biz.you.co/register, using Singpass (MyInfo Business) to fill in the company's details, or the manual form. 2. **Documents.** With Singpass, no documents unless the applicant is not a director. On the manual route, upload the ACRA Business Profile and the applicant's NRIC or Singapore pass. 3. **Decision.** YouBiz reviews the application and emails a decision within 1 to 2 business days. 4. **Fund and spend.** Top up by bank transfer or PayNow, then create virtual and physical cards for the team. Documents: Singpass route: none, unless the applicant is not a director (then a signed authorisation letter); Manual route: ACRA Business Profile (dated within the last 3 months); Photo of NRIC (front and back) or an accepted Singapore pass, with proof of address if the ID shows none; Authorisation letter if the applicant is not a director; Foreign-incorporated companies: registry document showing entity, full ownership and directors (under 6 months, English or certified translation) ## Pros and cons - Pro: No setup, monthly or annual fee and no minimum spend - Pro: One account number in your company's name with currency accounts in SGD, USD, EUR, GBP, AUD, HKD, JPY and CHF, and no limit on the balance - Pro: Incoming payments are free, and so are local SGD transfers and exchanges between your currency accounts - Pro: No fee on card spending in foreign currencies, including processing and network fees, and 1% cashback on eligible card spend with no cap - Pro: Virtual and physical Mastercard debit cards for the team; virtual cards work at once - Pro: Send money overseas in 19 currencies, including CNY, INR, IDR, PHP, VND and BRL - Pro: Sign up online with Singpass in under five minutes; YouBiz decides within 1 to 2 business days - Con: Overseas transfer fees are not published: they are tiered and shown only in the dashboard's Transfer Calculator, except US$30 for SWIFT payments to China - Con: Exchange rates are typically 0.1 to 0.4% from wholesale rates, so conversions are not free even though there is no separate exchange fee - Con: Local transfers in currencies other than SGD carry a remittance fee that is not published - Con: Only for businesses operating in Singapore - Con: The card is a debit card, not credit: it spends only what is in the account - Con: Support by email and phone on weekdays, 9am to 6pm; no live chat is published - Con: No forward contracts: conversion is at the live rate only ## Finzil's take (opinion) YouBiz suits a Singapore SME whose team spends abroad on cards and wants a free account with eight currency accounts and 1% cashback. Overseas transfer fees are shown only in the dashboard, so check the Transfer Calculator before you use it for regular supplier payments. ## Alternatives - [Aspire](https://finzil.com/providers/aspire): Payments platform · Singapore - [Instarem](https://finzil.com/providers/instarem): Major payment institution · Singapore - [Airwallex](https://finzil.com/providers/airwallex): E-money institution · UK - [Wallex](https://finzil.com/providers/wallex): Payment institution · Singapore ## FAQ **Is YouBiz a bank?** No. YouBiz is provided by YOU TECHNOLOGIES GROUP (SINGAPORE) PTE. LTD., licensed by the Monetary Authority of Singapore as a major payment institution for account issuance, domestic and cross-border money transfers and e-money issuance. Customer money is held in segregated trust accounts at DBS, Standard Chartered, OCBC and Deutsche Bank and is not covered by the Singapore Deposit Insurance Scheme. **Are YouBiz exchange rates really 0%?** No. The '0% FX fees' headline means YouBiz charges no separate fee on card spending abroad or on exchanges between your currency accounts. Its exchange rates are typically 0.1 to 0.4% from wholesale rates, so that difference is the cost of a conversion. **How much does YouBiz cost?** There is no setup, monthly or annual fee. Incoming payments, local SGD transfers and exchanges between your currency accounts are free. Overseas transfers carry a tiered fee shown only in the dashboard's Transfer Calculator; SWIFT payments to China cost US$30, and local CNY transfers to China over 10,000 are free. **Does my company get its own account details?** Yes. Since January 2026 each business has one permanent account number under its own name, shared by currency accounts in SGD, USD, EUR, GBP, AUD, HKD, JPY and CHF. It is not an IBAN. You can download a Proof of Account letter. **Who can open a YouBiz account?** Businesses operating in Singapore: private limited companies, sole proprietorships and partnerships registered with ACRA. Companies incorporated elsewhere can apply if they operate in Singapore. Casinos and gambling companies, adult entertainment, firearms suppliers and offshore shell companies are not accepted. **Can I fix an exchange rate for a future payment?** No. YouBiz publishes no forward contracts. You can convert at the live rate and hold the balance in one of your eight currency accounts until you pay. --- Finzil (finzil.com) is an independent directory of business accounts. No paid placement. Find providers that accept your business: https://finzil.com/find