YouBiz review 2026: Features, fees and limitations

Key Takeaways:

• YouBiz is a multi-currency business account for Singapore SMEs, with no monthly fees and unlimited 1% cashback on eligible card spending¹

• It does not support GIRO, CPF payments, outbound PayNow, or SDIC deposit protection.

• Airwallex Business Accounts offers local account details in more currencies than YouBiz, lower international transfer fees, and broader payment rail support across more countries.

This YouBiz review examines whether the digital business account is a good fit for Singapore SMEs in 2026.

From the team behind YouTrip, YouBiz offers multi-currency account capabilities, no monthly fees, and unlimited cashback on card spending, making it an attractive option for businesses looking to simplify everyday finances. However, it also comes with several limitations.

In this review, we'll break down YouBiz's features, fees, supported payment methods, and limitations, so you can decide if it suits your needs.

What is YouBiz?

YouBiz is a digital business account offered by You Technologies Group, the company behind the YouTrip travel card. It is designed for Singapore-registered SMEs and sole proprietors who want a no-fuss account for managing multi-currency expenses and card spending.

Unlike a traditional bank account, YouBiz does not charge a monthly fee and does not require a minimum balance.

The account comes with a Mastercard debit card, multi-currency wallets, and a real-time expense dashboard. It is built for businesses that spend in foreign currencies, whether on overseas suppliers, software subscriptions, or travel.

Who is YouBiz for?

YouBiz works well if you:

• Run a small business or are a sole proprietor with straightforward banking needs

• Spend regularly in foreign currencies on a Mastercard

• Want 1% cashback on eligible card spending without a monthly fee

• Already use Xero for accounting

Who should look elsewhere?

YouBiz may not be the right fit if you:

• Need to pay CPF, IRAS, or government bills directly from your account

• Rely on GIRO for recurring supplier or utility payments

• Want SDIC deposit protection for your business funds

• Need to send payments via outbound PayNow

• Wish to review fees before signing up

YouBiz features

Here is a breakdown of what the YouBiz account includes.

Multi-currency accounts

YouBiz gives you wallets in 8 currencies: SGD, USD, EUR, GBP, JPY, HKD, AUD, and CHF¹. You can hold balances in each currency and switch between them in the app. This is useful if your business regularly pays suppliers or receives income in foreign currencies.

YouBiz Mastercard card

Every YouBiz account comes with a Mastercard debit card. YouBiz charges 0% FX fees on card spending, using the Mastercard wholesale rate¹. You also earn unlimited 1% cashback on eligible card spending with no cap¹.

The default per-transaction limit on the YouBiz card is US$100,000². You can lower this limit yourself in the app at any time. To increase it beyond the default, contact YouBiz support².

For currency conversion within the app, fees are not listed on the public website. Check the current rate in-app before converting.

Local transfers

Local SGD transfers via FAST are free¹. YouBiz does not currently support outbound PayNow transfers.

International transfers

YouBiz supports international transfers to multiple countries. Transfer fees vary by destination and are not listed publicly; you will need to log in to get a quote before sending.

Expense management

YouBiz connects directly with Xero, so transactions sync automatically for bookkeeping¹. You can issue multiple cards to team members, set individual spending limits, and view all transactions in real time from the dashboard.

YouBiz fees

YouBiz does not publish a full pricing page publicly. The table below covers what is confirmed on the official website. For fees not listed here, including international transfer fees and currency conversion rates, you will need to log in to the app to get a quote.

The information in this table has been reviewed to be accurate as of 15 June 2026.

YouBiz limitations

YouBiz works well for multi-currency card spending and basic expense management. But there are some meaningful gaps to know about before you decide whether it can serve as your primary business account.

No GIRO support

YouBiz does not support GIRO. If you pay recurring bills — utilities, insurance premiums, or supplier invoices — via GIRO, you will need a separate bank account to handle these payments.

No CPF or tax payments

You cannot pay CPF contributions, IRAS taxes, or other government-linked bills directly from YouBiz. Businesses with employees or tax obligations will need a traditional bank account alongside YouBiz for these payments.

No outbound PayNow

YouBiz does not support outbound PayNow transfers. If your suppliers, freelancers, or contractors prefer to receive money via PayNow, you will need to send those payments from a different account.

No SDIC deposit protection

YouBiz is operated by You Technologies Group, a licensed Major Payment Institution regulated by the Monetary Authority of Singapore, rather than a licensed bank.

Funds held in a YouBiz account are therefore not covered by the Singapore Deposit Insurance Scheme, which applies to eligible deposits placed with member banks.

No public pricing page

YouBiz does not publish a full fee schedule publicly. International transfer fees and currency conversion rates are only visible after you log in. This makes it harder to compare costs upfront before committing to sign up.

How to open a YouBiz account

Applying for a YouBiz account can be done fully online. You do not need to visit a branch. Here’s what to expect:

Who can apply

YouBiz is open to businesses registered in Singapore with the Accounting and Corporate Regulatory Authority (ACRA). You need at least one director or authorised representative who is a Singapore resident with a valid Singpass account.

What you need

• Your business's ACRA registration details

• Your NRIC (front and back) or an accepted identification document

• A signed authorisation letter if the person applying is not a director of the company

Steps to apply

Step 1: Start your application. Go to you.co/biz and click "Get Started". You can apply using Singpass MyInfo Business, which auto-fills most of your business details, or fill in the form manually.

Step 2: Submit your documents. Upload your identification documents. If someone other than a director is applying, include the signed authorisation letter.

Step 3: Wait for approval. YouBiz reviews your application and emails you within 1–2 business days.

Step 4: Set up your account. Once approved, log in, top up your account, and activate your Mastercard card. You can start spending and managing expenses straight away.

YouBiz vs Airwallex: How they compare

YouBiz and Airwallex are built for the same audience: Singapore businesses that want a digital, multi-currency account without the fees and paperwork of a traditional bank.

Here’s a quick breakdown of how YouBiz vs Airwallex compare:

The information in this table has been reviewed to be accurate as of 15 June 2026.

Why Singapore businesses choose Airwallex

YouBiz works well if your needs are straightforward: card spending in foreign currencies, 1% cashback, and a clean Xero integration. For many small businesses, that is enough.

But as your business grows, your requirements often expand beyond card spending and multi-currency accounts. You may need to accept payments via different local payment methods, automate accounts payable, or manage multiple entities within your group.

Those are capabilities that sit outside YouBiz's core offering and are areas where Airwallex provides a broader solution. Here’s what you get with Airwallex:

Accept payments from 180+ countries

Airwallex lets customers pay using cards and 160+ local payment methods across 180+ countries and regions, including Alipay, WeChat Pay, GrabPay, iDEAL, and Bancontact.

At the time of publication, YouBiz does not offer an equivalent payment gateway or support for local payment methods.

Automate accounts payable

Airwallex includes built-in accounts payable automation, with invoice capture, approval workflows, batch payments, and accounting reconciliation in a single platform.

At the time of publication, YouBiz does not offer an equivalent AP automation solution, so businesses typically need separate software for these workflows.

Manage multiple entities from one platform

Airwallex Global Entity Management lets finance teams manage balances, cards, approvals, and reporting across multiple legal entities from a single login.

At the time of publication, YouBiz does not offer an equivalent multi-entity management capability, making it better suited to businesses operating a single legal entity.

Frequently asked questions (FAQs)

Is YouBiz a bank account?

No. YouBiz is not a bank. It is operated by You Technologies Group, a Major Payment Institution licensed by the Monetary Authority of Singapore under the Payment Services Act. Customer funds are held in safeguarded accounts, separate from YouBiz's own operating funds, in line with MAS requirements. This is a regulated safeguarding framework, but it is different from bank deposit insurance.

Is YouBiz safe to use?

Yes. YouBiz is regulated by the Monetary Authority of Singapore and licensed as a Major Payment Institution. Your funds are held in a segregated account, separate from YouBiz's corporate funds, as required by MAS. However, unlike a licensed bank, YouBiz is not covered by the Singapore Deposit Insurance Scheme (SDIC).

What is the card limit on a YouBiz card?

The default per-transaction limit on the YouBiz card is US$100,000². You can lower this limit yourself in the app at any time. If you need to increase it beyond the default, contact YouBiz support.

What is the difference between YouBiz and YouTrip?

YouTrip is a personal multi-currency wallet designed for individual travellers. YouBiz is a separate product built for Singapore-registered businesses. YouBiz includes features such as multi-currency business accounts, corporate cards with spend controls, team card issuance, expense tracking, and Xero integration — none of which are available on YouTrip.

Does YouBiz support GIRO or PayNow transfers?

YouBiz does not support GIRO or outbound PayNow transfers. You can receive funds via PayNow QR code, but you cannot send payments to others via PayNow from your YouBiz account. If your business relies on GIRO for supplier payments, utilities, or recurring bills, you will need a traditional bank account alongside YouBiz.

What types of businesses are best suited to YouBiz?

YouBiz works well for Singapore SMEs and sole proprietors that primarily spend in foreign currencies, want 1% cashback on card spending, and do not need GIRO, CPF payments, or outbound PayNow. If your business needs broader international infrastructure — such as collecting payments in multiple currencies or paying suppliers across many countries — Airwallex is worth comparing.

Sources:

1. you.co/biz

2. youbiz.zendesk.com/hc/en-us/articles/30047335922841