Aspire vs Airwallex: Compare fees, features & more (2026)

Key takeaways:

• Aspire and Airwallex both offer multi-currency accounts, corporate cards, and international transfers, but they differ significantly in global reach, currency coverage, and transfer infrastructure.

• The right choice comes down to how many currencies you need, how transfers move internationally, and whether you're running a single Singapore entity or scaling across markets.

• Airwallex runs on its own global payment infrastructure, giving you transfers to 120+ countries at no cost and multi-currency accounts in 20+ currencies, with no monthly fee on the Explore plan.

If you're comparing Aspire vs Airwallex for your Singapore business, you're looking at two of the most talked-about fintech platforms in the market right now.

Both give you a multi-currency account, corporate cards, and tools for international payments.

This guide compares Aspire and Airwallex on fees, features, transfer coverage, and account opening. Use it to see exactly where each platform stands, so you can make a clear decision for your business.

What is Aspire?

Aspire is a Singapore-based fintech founded in 2018. It's built for SMEs that want a digital-first alternative to traditional business banking, with a focus on local payment features and day-to-day operational tools.

In Singapore, Aspire FT Pte. Ltd. has in-principle approval for a Major Payment Institution licence and currently operates under temporary exemptions under the Payment Services Act.¹

This is a different regulatory status from Airwallex, which holds a full MAS licence. For most cross-border transfers, Aspire works with its MAS-licensed partner, Wise.²

Aspire's core products include multi-currency business accounts, corporate cards, expense management, payables, and payroll support.

Worth knowing:

• Aspire holds funds with Tier-1 banks in Singapore, including DBS³

• Payroll, CPF, and IRAS tax payments are supported via PayNow⁴

• Accounting integrations include Xero, QuickBooks, NetSuite, Deskera, and SAP⁵

• Customer support is available Monday to Sunday, 9am–9pm SGT via in-app chat⁶

Information in this section is based on Aspire’s official website as of 13 July 2026.

What is Airwallex?

Airwallex was founded in Melbourne, Australia in 2015. It operates as a global financial platform, giving businesses one place to manage accounts, transfers, payments, cards, and expense management across borders.

In Singapore, Airwallex (Singapore) Pte. Ltd. is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore (MAS), under licence number PS20200541.

For many international transfers, Aspire uses its integration with Wise, while Airwallex operates its own global payment infrastructure.

With Airwallex, you can send money to 120+ countries via local payment rails with $0 SWIFT fees, hold funds in 20+ currencies, and access competitive FX rates that save you up to 80% on FX fees as compared to traditional banks.

Worth knowing:

• No monthly account fee on the Explore plan

• Dedicated account managers available on the Accelerate plan

• Accounting integrations include Xero, QuickBooks, and NetSuite (NetSuite on the Accelerate plan)

• Airwallex meets PCI DSS, SOC1, and SOC2 security standards

How do Aspire and Airwallex compare in Singapore?

Aspire and Airwallex overlap on several core features: multi-currency accounts, corporate cards, and international transfers. But the depth of those features differs considerably, particularly when it comes to global coverage, currency support, and transfer infrastructure.

Here is how they compare side by side:

This information is based on publicly available information accessed on 13 July 2026. Information reflects Airwallex's own research and has not been independently verified.

Overall, Airwallex offers more for businesses with international operations:

• Hold more currencies: 20+ currencies vs 4 with Aspire.

• Send money to more places: 200+ countries and regions vs 130+.

• Accept payments from more markets: 180+ countries vs 130+.

• Built-in purchasing approvals: Airwallex includes purchase requests, approvals, purchase orders, and bill payments in one workflow. Aspire doesn't currently offer an equivalent purchasing approval feature.

Currency accounts

Airwallex gives you local bank details in 20+ currencies, so you can receive, hold, and spend in those currencies without setting up local entities. Aspire offers multi-currency accounts in four currencies: SGD, USD, EUR, and GBP.³

With Airwallex, you can settle funds like-for-like: for example, receiving USD from a customer and paying a USD supplier from the same currency balance, with no forced conversion. Aspire does not currently offer this feature.

Accounting integrations

Both platforms integrate with Xero and QuickBooks. Airwallex also supports NetSuite on its Accelerate plan, while Aspire offers integrations with NetSuite, Deskera, and SAP.⁵

Airwallex vs Aspire: fees and pricing

Neither platform charges an account opening fee or a monthly account fee on their standard plans. Beyond that, the fee structures differ — and understanding exactly what you will pay for each type of transaction is important before you commit to either platform.

This information is based on publicly available information accessed on 13 July 2026. Information reflects Airwallex's own research and has not been independently verified.

What are Aspire’s fees?

Aspire's transfer fees depend on the currency account you send from and the transfer method used. Fees for international transfers are shown in the app before you confirm the transaction.

• Domestic transfers: FAST and PayNow transfers are free on all plans.⁴

• International transfers (SGD account): You need to connect a Wise account, or create one through Aspire's integration. Transfers are processed through Wise, with fees varying by destination currency and shown before you confirm the transfer.

• International transfers (USD, EUR, GBP accounts): You can send via local rails or SWIFT. SWIFT transfers from the USD account cost US$15 per transfer (SHA) or US$30 per transfer (OUR).⁴

What are Airwallex’s fees?

Airwallex's fee structure is straightforward:

• Domestic payments: FAST and MEPS+ local transactions in SGD are free.

• International payments: Transfers to 120+ countries via local rails are free. Where SWIFT is required, a flat fee of S$20 (SHA) or S$35 (OUR) applies.

• Foreign exchange: FX rates are priced at 0.4% to 0.6% above interbank rates.

Airwallex vs Aspire: card fees

Card fees matter most if your team pays suppliers, subscribes to overseas software, or travels regularly. Here's how the two platforms compare:

This information is based on publicly available information accessed on 13 July 2026. Information reflects Airwallex's own research and has not been independently verified.

If your team spends mostly in currencies you already hold — say, USD or SGD — Airwallex's 0% foreign transaction fee removes a cost that adds up quickly across a growing team.

Which platform is right for your business?

Aspire works well if your business runs a single Singapore entity, holds most of its funds in SGD, and needs a straightforward local business account with expense tracking.

But as your business grows, you may need to hold more than four currencies, send payments to more markets, or introduce more structured spend controls. That's where Airwallex comes in.

Here’s what you get with Airwallex:

• More flexibility for multi-currency businesses. Airwallex lets you hold 20+ currencies with local Global Accounts, compared with 4 currencies on Aspire. If you receive and pay in the same currency, you can settle directly from that balance instead of converting funds unnecessarily.

• Broader international payment coverage. Airwallex supports transfers to 200+ countries and regions and payment acceptance in 180+ countries, while Aspire supports 130+ countries for both.

• Built-in purchasing approvals. Airwallex includes purchase requests, approvals, purchase orders, and bill payments in one workflow. Aspire offers expense management and corporate cards but doesn't currently provide an equivalent purchasing approval workflow.

Frequently asked questions (FAQs)

Is Aspire or Airwallex better for Singapore businesses?

It depends on how your business operates. Aspire suits businesses that run mainly in SGD and need strong local payment features like PayNow and CPF support. If you deal with international payments regularly, such as paying overseas suppliers, receiving revenue from foreign customers, or holding multiple currencies, Airwallex is built for that from the ground up.

What documents do I need to open a business account with Aspire?

You'll need your Singapore UEN or ACRA business profile, identification documents for your directors, and details of any individual shareholder holding 25% or more of the company.⁸ Aspire's application process is fully online, so you can submit these documents without visiting a branch.

How long does it take to open an account with Aspire?

Aspire says approval can take as fast as 1 business day once you've submitted your documents.³ The exact timeline depends on how quickly your application passes verification checks.

Is Airwallex regulated by MAS?

Yes. Airwallex (Singapore) Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, under licence number PS20200541.

Sources:

1. https://www.mas.gov.sg/regulation/payments/entities-that-have-notified-mas-pursuant-to-the-ps-esp-r

2.  https://help.aspireapp.com

3.  https://aspireapp.com/pricing

4.  https://help.aspireapp.com

5.  https://aspireapp.com/payable-management

6.  https://aspireapp.com/contact-us

7.  https://aspireapp.com/global-payments

8.  https://aspireapp.com/business-account

9. https://support.aspireapp.com/migration/faq/what-are-the-card-exchange-rates