Best prepaid credit cards and debit cards in Singapore: Top 10 choices for businesses in 2026

Key takeaways

• Prepaid cards – including both prepaid credit cards and prepaid debit cards – help you cap spend, limit fraud exposure, and avoid revolving debt, but they also come with fragmented balances, strict transaction limits, and extra foreign transaction fees.

• In Singapore, businesses are choosing between consumer wallets (like the NETS prepaid card and travel cards) and business‑ready debit cards that plug into a central bank account, each with different trade‑offs on FX, controls, and integrations.

• Multi‑currency corporate debit cards like Airwallex Corporate Cards offer many of the same “controlled spend” benefits as prepaid cards, with 0% foreign card transaction fees on held balances, low FX conversion fees, and built‑in expense management.

The prepaid card and digital wallet market in Singapore is projected to reach roughly US$13.09 billion by 2028¹, driven by the shift away from cash and traditional credit. For finance teams, the challenge is figuring out whether consumer prepaid cards, travel wallets, or business debit cards make the most sense for managing your company’s spend.

In this guide, we break down how prepaid credit cards and prepaid debit cards work, compare top 10 options in Singapore and their alternatives, and show where multi‑currency corporate debit cards like Airwallex Corporate Cards can be a better fit for controlling costs and managing global spend.

What is a prepaid credit card?

A prepaid card or prepaid credit card lets you load money onto the card first, then spend only up to that balance. It runs on the same card networks as regular credit cards (for example, Visa or Mastercard), so you can use it for card payments in stores and online. Every transaction you make is funded by your own money, not the bank’s credit line.

With prepaid credit cards, you top up the card in advance – typically via bank transfers, cash deposits, or another card – and the issuer deducts each purchase from the stored balance. If your card doesn’t have sufficient funds, the issuer declines the transaction instead of putting you into debt or charging interest.

The key difference from a regular credit card is that you’re not borrowing, which means you don’t need to go through a full credit check or build up a long-term credit history. Unlike a secured credit card, you’re not placing a separate security deposit to back a revolving credit facility. Instead, you’re loading and reloading a fixed pool of funds and using the card as a controlled, reloadable payment card for everyday spending.

What is a prepaid debit card?

A prepaid debit card works like a stored-value version of a regular debit card: you load money onto it first, then spend only from that balance. Instead of drawing funds directly from your business bank account each time you tap or swipe, the card pulls from the amount you’ve already topped up, so you can’t accidentally overspend.

Unlike standard debit cards that stay linked to a live current account, prepaid cards sit one step removed from your core balance. You move funds onto the card in advance (via bank transfers or cash reloads), and once that balance runs down, the card simply stops working until you top it up again. 

Benefits and disadvantages of using a prepaid card for your business

Cards have become the default for business spending and withdrawals, especially as Singapore moves towards cashless payments. Below are some of the key advantages and disadvantages of using prepaid cards for your business.

Benefits of using a prepaid card for your business

• Tighter budget control: Because prepaid credit cards and debit cards start with a fixed loaded amount, this lets you set a hard “credit limit” on how much your business can spend on that card. 

• Lower fraud and loss impact: If someone loses a prepaid card or it gets compromised, the most you lose is the amount you’ve loaded onto that card, not the full balance sitting in your main bank account.

• No risk of revolving debt: Unlike traditional credit line facilities, prepaid credit cards don’t let balances roll over, so you don’t pay interest or late fees if someone forgets to submit an expense on time.

• Simpler eligibility and setup: Many prepaid cards don’t require a deep credit check or long credit history, which makes it easier for newer or smaller businesses to issue cards quickly.

• Clearer cost tracking by project or team: You can assign different prepaid cards to specific teams, trips, or campaigns and track transactions against each card separately, which makes it easier to see how much individual activities actually cost.

Disadvantages of using a prepaid card for your business

• Fragmented cash and unused balances: Loading multiple prepaid cards pulls money out of your main bank account and scatters it across card balances, which can leave idle funds sitting on cards instead of supporting working capital.

• Risk of declined payments: Because each card has a fixed balance, finance teams must keep topping the cards up ahead of time; if not, this may disrupt bookings, online purchases, or supplier payments.

• Layered fees that erode value: Many prepaid credit cards charge transaction fees, ATM withdrawal fees, and extra foreign transaction fees on international transactions, so the real cost of using them is higher than you might realise.

• Limited controls and reporting at scale: Basic prepaid debit card products often lack deeper controls (for example, granular spending limits by category) and richer reporting, making it harder to support larger teams or more complex usage patterns.

• Weaker integration with finance tools: Compared with modern corporate card platforms, most prepaid cards offer minimal integrations with financial tools like accounting or expense software. This means your team has to spend more time on manual reconciliation.

10 best prepaid cards (and alternatives) for businesses in Singapore (2026)

In Singapore, you’ll find a mix of true prepaid credit cards, consumer travel cards, and modern business-first alternatives like multi-currency corporate debit cards. 

The table below gives you a high-level look at prepaid card options, plus business-ready alternatives that can sit alongside or replace traditional prepaid cards for company spend.

The information in this table has been reviewed to be accurate as of 5 January 2026.

Airwallex Corporate Card

The Airwallex Corporate Card is a multi-currency corporate debit card designed for businesses that want tighter control over employee spend without the drawbacks of traditional prepaid cards. Instead of loading money onto individual cards, you spend directly from your Airwallex Business Account balances, with 0% foreign card transaction fees when you pay from held currencies.

Key features

• Multi-currency Visa corporate debit cards that spend directly from your Airwallex Business Account balances.

• 0% foreign card transaction fees when you pay from held currency balances.

• Per‑card spending limits, merchant rules and approval workflows for team spend.

• Built‑in Expense Management with receipt capture and accounting integrations. 

Fees:

• Set-up fee: None

• Annual fee: None

• Card issuance fee: None

• Foreign card transaction fee: 0% (when paying from held balances)

• Currency conversion fee: From 0.4% on FX conversions

• Minimum balance: None

Pros and cons

Volopay Corporate Card

The Volopay corporate card combines Visa company cards with a multi-currency business account and spend‑management tools for SMEs. To use it, you top up a central Volopay wallet, issue physical or virtual cards to employees, and track their spending from a single dashboard.

Key features

• Physical and virtual Visa corporate cards for travel, subscriptions and day‑to‑day spend.

• Multi-currency business wallet for SGD and major foreign currencies.

• Card limits, approvals and simple expense controls for teams.

• Pay local and overseas vendors from the same platform, with basic accounting sync.

Fees:

• Set-up fee: Pricing not publicly disclosed; businesses must contact Volopay for a quote

• Annual fee: Not stated 

• Card issuance fee: Not stated

• Foreign card transaction fee: FX / processing fees apply on non‑SGD spend

• Currency conversion fee: Not stated

• Minimum balance: Not specified 

Pros and cons

NETS Prepaid Card

The NETS prepaid card is an SGD stored‑value card that you can use on public transport and at over 120,000 NETS retail acceptance points island‑wide.¹² These include supermarkets, convenience stores, cafes, and hawker centres.

It’s primarily a consumer product, but some SMEs and employers use it to give capped spending power to staff without opening a bank account for each person.

Key features

• SGD stored‑value prepaid card for everyday retail and public transport in Singapore.

• Tap‑to‑pay at NETS terminals and on buses, MRT and LRT.

• Use the NETS App to top up, set daily spending limits and view transactions.

• Link up to 10 cards per account and lock or refund balances if a card is lost. 

Fees 

• Set-up fee: None 

• Annual fee: None 

• Card issuance fee: Card purchase price applies at retailers / online 

• Foreign card transaction fee: Not applicable

• Currency conversion fee: Not applicable 

• Minimum balance: None

Pros and cons

YouTrip Card

The YouTrip card is a multi-currency travel prepaid debit card for consumers, built around a mobile multi currency wallet with a linked Mastercard.

It lets you exchange and hold 12 currencies in‑app and pay in 150+ countries with 0% FX fees, so some SMEs use it for overseas card payments and online spend, even though it isn’t a business expense tool.

Key features

• Multi-currency travel wallet with a prepaid Mastercard for online and in‑store spend.

• Hold 12 wallet currencies and pay in 150+ countries with 0% FX fees.

• Free physical and virtual cards that work with Apple Pay and Google Pay.

• Free overseas ATM withdrawals on up to S$400 equivalent in foreign currency each month. After that, a 2% fee applies.

Fees 

• Set-up fee: None

• Annual fee: None

• Card issuance fee: None 

• Foreign card transaction fee: 0% 

• Currency conversion fee: 0% FX fee; uses wholesale/mid‑market exchange rates for supported currencies (12 wallet currencies, 150+ spend currencies)

• Minimum balance: None

Pros and cons

YouBiz Corporate Card

The YouBiz corporate card is a multi-currency corporate debit card and business account for SMEs that have outgrown consumer prepaid cards like the YouTrip card. It’s designed for teams that need to hold multiple currencies, issue cards to employees, and manage company spend in one place.

Key features

• Multi-currency business account with 9 currency wallets (including SGD, USD, EUR, GBP, JPY).

• Unlimited virtual and physical Mastercard corporate cards for team spend.

• Real 0% FX fees on card transactions plus 1% cashback on eligible spend, with no cap.

• Built‑in spend controls and Xero integration for basic expense management and reconciliation.

Fees 

• Set-up fee: None

• Annual fee: None

• Card issuance fee: None 

• Foreign card transaction fee: 0% FX fee on eligible card spend in supported currencies

• Currency conversion fee: Typically from 0.1%–0.4% above wholesale rates on currency conversions and transfers

• Minimum balance: None

Pros and cons

Wise Business Card

The Wise Business Card is a multi-currency business debit card that lets you spend directly from your Wise Business Account balances. It isn’t a traditional prepaid credit card, but many SMEs use it in a similar way to cap overseas spend on travel, subscriptions, and supplier payments.

Key features

• Multi-currency Visa business debit card linked to your Wise Business Account balances.

• Spend from held currencies to reduce double conversion on cross-border spend.

• No separate foreign transaction fee; FX costs apply only when Wise converts currencies.

• Use online, in-store, and with major digital wallets in 150+ countries.

Fees

• Set-up fee: None 

• Annual fee: None

• Card issuance fee: First card is free; additional cards cost S$4 each¹³

• Foreign card transaction fee: None (FX costs only when converting currencies)

• Currency conversion fee: Charged as a percentage of the amount converted 

• Minimum balance: None

Pros and cons

Revolut Corporate Card

The Revolut Corporate Card is a multi-currency business debit card linked to a Revolut Business account, designed for SMEs that want cards, FX, and transfers in one app. It isn’t marketed as a prepaid card, but like prepaid credit cards it helps you avoid running up a balance on credit, because you can only spend the funds you’ve added to your account. 

Key features

• Multi-currency Visa business debit cards (physical and virtual) that spend from your Revolut Business wallet.

• Hold and spend in 30+ currencies, with plan-based fee-free FX and transfers. Additional FX and transfer fees apply once you exceed your plan limits.

• Card controls in-app, including per-card limits and basic approval workflows.

• Integrations with tools like Xero, QuickBooks, and NetSuite for reconciliation.

Fees

• Set-up fee: None

• Annual fee: None

• Card issuance fee: First physical card per team member is free; additional physical cards are charged a delivery fee (from the equivalent of £4.99 onwards). Virtual cards are free. 

• Foreign card transaction fee: Effectively 0% within your plan’s fee-free FX allowance; FX markups apply once you exceed the allowance or spend on weekends

• Currency conversion fee: Around 0.6% beyond plan allowance plus an extra 1% on exchanges outside FX market hours

• Minimum balance: None

Pros and cons

Aspire Corporate Card

The Aspire corporate card is a multi-currency Visa debit card issued on top of an Aspire Business Account, with an optional credit line for eligible businesses. Aspire positions it as a flexible multi-currency corporate debit card with built-in spend controls and cashback on eligible digital marketing and Software as a Service (SaaS) spend.

Key features

• Virtual and physical Visa corporate debit cards issued from your Aspire Business Account.

• 1% cashback on eligible digital marketing and SaaS spend.

• Multi-currency cards with the ability to spend directly in SGD or USD.

• Built-in spend controls (per-card limits, merchant locks) plus automated receipt reminders.

• Integrations with accounting and expense tools so transactions flow into your finance stack.

Fees

• Set-up fee: None

• Annual fee: None 

• Card issuance fee: First physical card per user is free; subsequent cards for the same user are charged at S$15. Virtual cards are free. 

• Foreign card transaction fee: 1.5% FX fee on overseas card spend where currency conversion is required

• Currency conversion fee: Embedded in the FX margin 

• ATM withdrawals: S$5 per overseas withdrawal, with usage limits

• Minimum balance: None 

Pros and cons

MaxiPAY prepaid card

The MaxiPAY card is a consumer prepaid Mastercard linked to the Maxi-Cash wallet. It’s mainly designed for personal use, but some SMEs and sole proprietors use it as a simple way to cap how much they can spend on local and overseas purchases.

Key features

• Prepaid Mastercard linked to a MaxiPAY/Maxi-Cash SGD wallet.

• Tap‑to‑pay in stores and use online wherever Mastercard is accepted.

• Overseas transactions processed at Mastercard FX rates, with SGD converted at point of sale.

• ATM withdrawals supported at compatible overseas ATMs.

• Top up via cash or supported electronic channels at Maxi-Cash outlets.

Fees

• Set-up fee: None 

• Annual fee: None

• Card issuance fee: Charged when you buy the physical card (varies by promotion/channel)

• Foreign card transaction fee: Standard Mastercard FX and issuer processing markups on non‑SGD spend

• Currency conversion fee: FX costs are built into the exchange rate when SGD is converted to foreign currencies, so you pay a margin in the rate rather than a separate line‑item fee.

• ATM withdrawals: Per‑withdrawal fee for overseas ATM use, plus any operator charges

• Minimum balance: None

Pros and cons

Dash Visa Virtual Card

The Dash Visa Virtual Card is a consumer prepaid Visa card that lives inside the Singtel Dash mobile wallet. It’s an SGD‑denominated virtual card for everyday local spend and occasional online or overseas payments, rather than a business‑focused prepaid credit card or debit card for company expenses.

Key features

• Virtual Visa prepaid card linked to a Singtel Dash SGD wallet (no physical card).

• Pay in‑store via Visa Contactless using Apple Pay or NFC‑enabled Android phones, and online using a 16‑digit virtual card number.

• Overseas and foreign‑site transactions converted from SGD at Visa FX rates.

• Annual transaction and wallet limits that vary by verification tier (non‑verified vs verified users).

Fees

• Set-up fee: None

• Annual fee: None

• Card issuance fee: None 

• Foreign card transaction fee: Visa FX rate plus network/processing fees on non‑SGD or overseas‑processed transactions 

• Currency conversion fee: FX costs are built into the Visa exchange rate and processing charges when SGD is converted to foreign currencies, rather than shown as a separate fee.

• ATM withdrawals: Not supported 

• Minimum balance: None 

Pros and cons

Factors to consider when choosing a prepaid card for your business

When you’re choosing a prepaid card for your company, keep these key factors in mind so you stay in control of costs, limits, and day‑to‑day finance ops.

1. Card type and eligibility (consumer vs business)

Many popular prepaid card options in Singapore are consumer prepaid credit cards or travel wallets, which aren’t ideal for business purposes. If your team needs cards to pay for travel, subscriptions, or day‑to‑day expenses, choose a business debit card issued to the company rather than consumer prepaid cards in each person’s name. That keeps liability with the business, lets you set limits and controls centrally, and avoids staff using personal or consumer products for company spend.

2. Overall fees and FX costs

Look beyond “0% FX fee” claims and check the full schedule: top‑up fees, card transaction fees, FX markups, ATM charges, and any plan‑based subscription fees. For cross‑border spend, compare the real conversion model (interbank/mid‑market vs bank rates plus margin) and whether you’re paying both a foreign transaction fee and an FX spread on each purchase.

3. Multi-currency support and how you actually spend

If you pay SaaS tools, overseas suppliers, or travel frequently, look for true multi‑currency wallets that let you hold and spend in key currencies directly, instead of converting from SGD on every transaction. Check how many currencies are supported, whether you get local-style accounts, and when FX is applied (at top‑up, at spend, or both).

4. Spend controls, limits, and workflows

Basic consumer products usually offer only card‑level limits and simple alerts. For teams, you’ll want more granular controls: per‑card and per‑merchant limits, category blocks, time‑bound cards for trips or projects, and the ability to freeze or close cards instantly. Built‑in approval flows, receipt capture, and tagging by cost centre or project also saves you hours of manual reconciliation each month.

5. Integrations and reporting

For businesses, the difference between a consumer wallet and a business card platform often shows up at the end of the month, when it’s time to do reporting and reconciliation. Prioritise providers that integrate with your accounting or expense tools (e.g. Xero, QuickBooks, NetSuite) and export clean transaction data with tax, merchant, and category information. This makes it much easier to track spend by team, client, or campaign and close the books faster.

Alternatives to prepaid cards for Singapore businesses

Aside from prepaid cards, there are other options that give finance teams tighter control over company spend without relying on employees’ personal cards. Here are some common alternatives and when they may work better than a prepaid credit card setup.

Corporate debit cards linked to a business account

Corporate debit cards draw directly from your business account or multi‑currency wallet, instead of from isolated prepaid card balances. That means you’re not constantly topping up separate cards, and you have one pool of funds to manage across transfers and card spend. For SMEs that need predictable spend and don’t want revolving debt, this can be a cleaner version of a prepaid card, with stronger controls and higher limits.

Corporate credit cards

Corporate credit cards extend a credit line to your business, so employees can spend now while you settle the bill later. This can smooth out cash flow, unlock rewards like cashback or miles, and make it easier to handle large one‑off payments such as travel, advertising, or supplier deposits that might exceed prepaid card limits.

However, with corporate credit cards, you’re taking on revolving debt. If you don’t monitor expenses closely, it’s easy to rack up interest and late fees. For smaller teams that mainly value tight spend control, a pure credit solution may introduce more risk than it solves.

Corporate charge cards

Corporate charge cards sit between debit and credit cards: you get a statement period and payment window, but you’re expected to clear the balance in full each cycle. This gives you short‑term breathing room on cash flow, like a credit card, while eliminating the possibility of long‑term debt.

On the flip side, charge cards often come with stricter eligibility criteria, higher annual fees, and less tolerance for missed payments. As such, they work best for companies with stable cash flow and disciplined finance processes.

Virtual cards and modern spend management platforms

With virtual cards issued from a central business account, you can create unique card numbers for specific employees, vendors, or subscriptions, often with built‑in budgets, expiry dates, and category blocks. Paired with spend management software, this solves many of the reasons businesses turn to prepaid cards in the first place: capped spend, separation from the main bank account, and easier tracking.

The main drawback is complexity: these platforms can be overkill if you’re an SME or only need one or two cards. They also require a bit more setup work upfront (defining roles, approval flows, and integrations) than simply buying a consumer prepaid card off the shelf.

Airwallex Corporate Cards: the better, low-fee alternative to prepaid cards

Airwallex Corporate Cards are multi‑currency corporate debit cards that draw directly from your Airwallex Business Account, rather than isolated prepaid card balances or a separate credit card line. You hold and spend in multiple currencies from one place, with 0% foreign card transaction fees when you pay from held balances and low, transparent FX margins when you need to convert.

Because our cards sit on top of a central business account, you can issue physical and virtual cards in just a few clicks, set card‑level budgets and controls, and see card activity in real time. That gives you the same capped‑spend benefits people look for in prepaid credit cards, without fragmenting cash across multiple wallets or manual top‑ups.

Airwallex also includes in‑built Expense Management and Bill Pay, so card spend, invoices, and bank transfers all flow through a single platform and into your accounting tools. Beyond cards, you also get a multi‑currency business account and FX & transfers on one platform, so you can manage global spend and vendor payments without stitching together separate tools.

Frequently asked questions (FAQs)

What is the difference between a prepaid credit card and a regular credit card?

A prepaid credit card lets you load funds in advance and spend only up to that balance, with no revolving credit line or interest charges. A regular credit card extends credit from the bank, lets you spend first and pay later, and will charge interest and late fees if you don’t clear the balance on time.

What is the difference between a prepaid debit card and a regular debit card?

A prepaid debit card is a stored‑value card: you top it up first, then spend from that separate balance. A regular debit card pulls money directly from your linked bank account each time you pay, so there’s no separate top‑up step and your available balance is whatever sits in the account.

On top of that, the best prepaid debit cards often come with extra features like spend limits, basic budgeting tools, or cashback on selected categories, which you won’t always get with a standard debit card.

Do prepaid credit cards work internationally?

Many prepaid credit cards and prepaid debit cards that run on Visa or Mastercard can be used overseas and for online purchases in foreign currencies, as long as the merchant accepts that network. However, you’ll need to check the card’s terms carefully – some Singapore prepaid cards are SGD‑only, and most will charge FX markups, foreign transaction fees, or ATM withdrawal fees on international use.

How do you get a prepaid credit card in Singapore?

You typically apply through a bank, fintech, or telco that issues prepaid cards, either via their mobile app, website, or at selected physical locations. You’ll usually need to complete a simple registration or e‑KYC process, accept the card’s transaction limits and fees, then fund the card or wallet before you can make card payments. For business use, many providers only offer consumer products, so SMEs often look at corporate debit cards or spend platforms instead.

How do you add money to a prepaid card?

Top‑up options depend on the prepaid card issuer, but common methods include bank transfers, PayNow, linking another payment card, or cash reloads at partner retail outlets or convenience stores. Once the top‑up clears and there are sufficient funds on the card or wallet, you can use it for everyday spending, online purchases, or ATM withdrawals (where supported).

Sources:

1. https://finance.yahoo.com/news/singapore-prepaid-card-digital-wallet-135500351.html

2. https://www.airwallex.com/business-account/cards/corporate-cards

3. https://www.volopay.com/sg/corporate-cards/ 

4. https://www.nets.com.sg/nets/for-https://www.you.co/sg/ 

5. https://www.you.co/biz/

6. https://wise.com/sg/business/card 

7. https://www.revolut.com/en-SG/business/cards/

8. https://aspireapp.com/corporate-card 

9. https://www.maxi-cash.com/maxipay/

10. https://dash.com.sg/pay 

11. https://www.nets.com.sg/newsroom/nets-launches-nets-prepaid-card-its-first-smart-stored-value-card-for-retail-and-transit 

12. https://wise.com/sg/pricing/business/card-fees

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.