Revolut Singapore review (2025): Is this business account right for you?

Key takeaways

• Revolut offers business accounts in Singapore with multi-currency support and corporate cards, but coverage is limited. You can only collect payments in a handful of currencies, which can lead to higher costs when receiving funds abroad.

• Revolut relies on SWIFT for most international transfers, which adds both time and cost. Businesses often face delays of up to two days and extra fees on cross-border payments.

• Airwallex offers everything Revolut does and more. Beyond accounts and cards, you get a proven end-to-end platform with local account details in 20+ currencies, global payment acceptance, automated expense management, and wider coverage in 200+ countries.

Is your finance team bogged down by manual admin tasks or costly cross-border payments? Revolut offers useful tools that can help, like multi-currency accounts and debit cards, but its coverage and features are limited. As your business scales, you’ll need a comprehensive solution to support your financial operations, from automating reconciliations to managing global invoice payments and more. 

In this article, we'll review Revolut Business accounts, their features, fees, and limitations, while introducing you to Airwallex, an alternative for Singapore businesses looking for more robust financial tools.

What is Revolut?

Revolut is a UK-based fintech that offers online banking and payment services to both consumers and businesses. The company entered the Singapore market in 2019 and expanded its services further in 2024 with the introduction of Revolut Business, a B2B solution that provides Singapore businesses with payment tools like multi-currency accounts and corporate cards.

How does Revolut work?

Revolut Business accounts are fully digital, accessible only through its web and mobile apps. Once you've set up your account online and subscribed to one of Revolut’s monthly plans, you can create physical and virtual corporate cards for your team.

Revolut Business cards can be used anywhere Mastercard is accepted. For overseas transactions, you can either pay directly from your available currency account balances or convert currencies on the spot during the transaction. If you trade outside market hours, this may incur an FX fee of up to 1.6%.

What are the key features of Revolut Business?

Revolut Business accounts offer various tools and features to help Singapore businesses manage their global finances.

Key features:

• Multi-currency debit cards

• Money transfers

• Currency exchange

• Expense management

Multi-currency debit cards

Using Revolut Business, you can create physical cards at a cost, or issue virtual cards for free across multiple currencies.

Money transfers

Revolut Business provides money transfer services in 30+ currencies to 150+ countries. However, it doesn’t offer unlimited free transfers unless sending to another Revolut account. Fees are S$0.20 per domestic transfer and S$8 plus SWIFT fee for international transfers when you exceed your plan allowance. Transfer times typically take up to 2 business days.

Currency exchange

Revolut Business supports currency exchange for 30+ currencies, but charges up to 1.6% if you exceed your monthly limits.

Expense management

Revolut Business offers basic expense management tools for free, but advanced features like custom approvals require a paid plan, and there’s no bill payment solution available in Singapore. 

What are Revolut Business’ pricing & fees?

Revolut Singapore offers several tiered plans, each with a monthly fee and a range of features for different business needs. Here’s a breakdown of the available plans:

Basic

The Basic plan is free of charge, with no monthly fees. It includes:

• Up to three physical cards and 200 virtual cards per team member

• Five free SGD transfers per month

• No free international money transfer

• Exchange currencies of amounts up to S$1,500 per month with no FX fee

Grow

The Grow plan is available for S$18 per month, or S$15 per month with an annual subscription. Its perks include:

• Up to three physical cards and 200 virtual cards per team member

• 100 free SGD transfers per month

• 10 free international transfers per month

• Exchange currencies of amounts up to S$13,000 per month with no FX fee

Scale

The Scale plan is priced at S$100 per month, or you can opt for annual billing at S$84 per month, paid upfront. Its perks include:

• Up to three physical cards and 200 virtual cards per team member

• 1,000 free SGD transfers per month

• 50 free international transfers per month

• Exchange currencies of amounts up to S$60,000 per month with no FX fee

Enterprise

Lastly, the Enterprise plan costs S$500 per month, or S$417 per month when paid annually. It covers:

• Up to three physical cards and 200 virtual cards per team member

• 1,000 free SGD transfers per month

• 100 free international transfers per month

• Exchange currencies of amounts up to S$250,000 per month with no FX fee

See the table below for the main fees and charges you should know about:

Note: The information in this table has been reviewed to be accurate as of 18 September 2025.

Alternative to Revolut: Consider Airwallex

Airwallex is built to help businesses scale across borders. Our platform supports payouts to over 200 countries, with 120+ countries leveraging local rails, helping you avoid expensive SWIFT fees. Approximately 95% of transactions arrive within the same day, ensuring fast and reliable payments to your suppliers. Beyond global transfers, you also get corporate cards, expense management, and a payment gateway in one platform, making it easier to manage your operations as you grow.

Find out more about our pricing details in the table below.

How to open a Revolut Business account and get corporate cards

You can open a Revolut Business account and order corporate cards online by following these steps:

1. Visit the Revolut Business website and click "Sign Up".

2. Provide details about your business, such as its country of incorporation, legal business type, UEN, and date of incorporation.

3. Verify your business identity by submitting required documentation, such as ACRA BizFile.

4. Once your account has been verified and set up,  go to "Cards" to place an order for your corporate card. The first physical card for each team member will be delivered free of charge. All cards will also be linked to the Revolut app.

Alternative to Revolut: consider Airwallex

With Airwallex, you get so much more than business accounts. With our payment gateway, you can accept customer payments worldwide, something Revolut doesn’t currently offer. And while Revolut has introduced spend management tools, they're still relatively new and lack bill payment capabilities in Singapore, which can make managing vendor payments more challenging.

Here are other reasons why Airwallex may be more suited for your business:

No hidden fees on all card spend 

With Airwallex Corporate Cards you save on every payment, with 0% foreign transaction fees, and no hidden fees.

Instantly issue virtual and physical cards globally 

You can create up to 10 free company debit cards. These cards draw directly from the balances in your Airwallex wallet, eliminating the need for frequent currency conversions.

If your wallet lacks sufficient funds in the required currency, your card automatically converts from your Singapore dollar balance at competitive FX rates, keeping every payment cost-effective.

Open accounts with local bank details in 20+ currencies

The Airwallex Business Account lets you receive, hold, and spend money in 20+ currencies. Customers can pay you via local transfers instead of SWIFT, and unlike Revolut, Airwallex removes incoming fees for supported currencies..

Send money to 200+ countries

Airwallex outperforms Revolut Business with wider global coverage and faster transfers. Our platform supports FX & transfers in 60+ currencies across 200+ countries, offering interbank rates and low FX fees from 0.4%.

End-to-end expense management

Airwallex simplifies business spending with an all-in-one expense management solution for managing employee payments, reimbursements, and automating invoice payments. Issue multi-currency cards to your team members, set spending limits, and track their expenses in real-time. Employees can easily capture receipts and submit reports via the Airwallex app, giving you full visibility and control over business spending.

Collect global customer payments

Unlike Revolut Singapore, which doesn't offer a payment gateway service, Airwallex lets you accept money in 180+ currencies and 160+ local payment methods. Plus, you can avoid hidden conversion fees with like-for-like settlements by holding and paying out in the same currency.

Note: The information in this table has been reviewed to be accurate as of 20 August 2025.

How to open an Airwallex Business Account and get Corporate Cards

Opening a Business Account and creating your Corporate Cards with Airwallex is quick and easy. Follow these simple steps to sign up online:

1. Visit the Airwallex website and select the option to sign up for a Business Account.

2. Verify your business by uploading Know Your Customer (KYC) documents such as your business licence, proof of address, and shareholder information.

3. Once your account is approved and activated, you can choose the plan that best suits your business needs (Explore, Grow, Accelerate, Custom).

4. Go to "Cards" and select "Create card". Create either a physical or virtual card and select either a Company or Employee card. You can create up to 10 free Company cards with our free Explore plan.

5. You can now use your Airwallex Corporate Cards to make business purchases with 0% foreign transaction fees.

Watch our quick demo video to learn how you can navigate our easy-to-use platform.

Get a Business Account built for global growth

A basic multi-currency account offers a good starting point for handling global transactions. However, to scale successfully, you need a solution that offers a lot more tangible benefits to your business.

With extensive global coverage, local currency accounts in 20+ markets, and corporate cards with built-in controls, Airwallex helps you simplify international payments and reduce costs on every transaction.

Airwallex offers simple, transparent pricing without limiting the number of transfers you can make each month. You can operate across markets without worrying about hidden charges, even as your business and transaction volumes grow.

If you want a solution built for growth, Airwallex gives you everything you need in one place. From business accounts and corporate cards to an integrated financial platform, it helps you manage payments effectively and scale with confidence.

Frequently asked questions (FAQs)

Is Revolut safe?

Yes, Revolut is generally safe to use in Singapore. The company is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution, and customer funds are safeguarded in segregated accounts with local partner banks such as DBS. 

Is Revolut licensed in Singapore?

Yes. Revolut Technologies Singapore Pte. Ltd is regulated as a Major Payment Institution by the Monetary Authority of Singapore (MAS), under the licence number PS20200326.  

What currencies does Revolut support?

Revolut Business Account currently supports currencies such as GBP, USD, AED, AUD, BGN, CAD, CHF, CZK, DKK, EUR, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, QAR, RON, SAR, SEK, SGD, THB, TRY, and ZAR. In total, Revolut lets you send and receive money in 37 currencies. Visit Revolut’s website to view the complete list of supported currencies.

In contrast, Airwallex supports local and SWIFT payouts in over 90 currencies across 200+ countries. Global Accounts lets you collect and hold funds like a local in over 20 major currencies including SGD, USD, GBP, EUR, AUD, JPY, HKD, and more. This broader coverage gives Singapore businesses more flexibility to manage international cash flow and transact like a local across key markets. See the full list of supported currencies here.

Sources:

1. https://www.revolut.com/en-SE/news/revolut_doubles_down_on_business_accounts_and_launches_revolut_billpay_as_global_annualised_revenues_surpass_500m/ 

2. https://www.revolut.com/en-SG/legal/business-basic-fees/ 

3. https://www.revolut.com/en-SG/business/money-transfers/ 

4. https://www.revolut.com/en-SG/legal/business-basic-fees/ 

5. https://help.revolut.com/business/help/receiving-payments/transfers-info/how-quick-is-my-transfer/ 

6. https://www.revolut.com/en-SG/business/currency-exchange/ 

7. https://www.revolut.com/en-SG/legal/business-basic-fees/ 

8. https://www.revolut.com/en-SG/legal/business-grow-fees/ 

9. https://www.revolut.com/en-SG/legal/business-scale-fees/ 

10. https://www.revolut.com/en-SG/legal/business-standard-fees/ 

11. https://www.revolut.com/en-SG/legal/business-basic-fees/ 

12.  https://www.revolut.com/en-SG/business/multi-currency-accounts/ 

13.  https://www.revolut.com/en-SG/business/money-transfers/ 

14. https://www.revolut.com/en-SG/legal/business-basic-fees/

15. https://www.revolut.com/en-SG/legal/business-basic-fees/

16. https://www.revolut.com/en-SG/legal/business-basic-fees/

17. https://help.revolut.com/en-SG/business/help/receiving-payments/currency-exchanges/which-currencies-can-i-exchange-and-keep-in-my-account/ 

18. https://help.revolut.com/business/help/receiving-payments/sending-money-to-an-external-bank-account/where-can-i-transfer-money/ 

19. https://help.revolut.com/en-SG/business/help/receiving-payments/with-a-bank-transfer/unsupported-inbound-transfers/ 

All comparisons and information reflect Airwallex’s own research using public documentation as of 18 September 2025, and have not been independently validated.

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, or guarantees regarding content accuracy, completeness, or currentness. Product features, pricing and other details are subject to change. Airwallex does not guarantee the continued accuracy of this information and is not responsible for any inaccuracies that may arise from such changes. This publication is not intended to be relied on for the purpose of making a decision about a financial product. Users are encouraged to conduct their own verification and seek their own advice.

If you would like to request an update of the content in this publication, 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.