Volopay business account review (2025): features & fees

Key takeaways

• Volopay is a spend management platform offering expense tracking tools, corporate cards, and multi-currency business accounts. Singapore businesses can hold and send SGD, USD, GBP, EUR, and AUD with a Volopay business account.

• Beyond its core offering of expense management tools, Volopay’s business account is limited by its narrow currency coverage and lack of integrated tools for collecting customer payments and managing international transfers. 

• Airwallex provides a broader, more flexible alternative to Volopay, offering a robust suite of expense management solutions designed to help businesses manage company spend with greater control and visibility. With a Business Account, you also get local bank details in 20+ currencies, international payout coverage to 200+ countries, and integrated payment acceptance tools to scale your business with confidence. 

Efficient money movement keeps businesses competitive. Delays in supplier payments or employee reimbursements can disrupt cash flow and slow growth, especially for companies looking to expand across markets.

Volopay is a spend management platform designed to help businesses manage their cash inflows and outflows. It also offers multi-currency accounts and expense management tools to track company expenses. 

In this article, we’ll walk through what Volopay’s business account offers, where it falls short, and how Airwallex gives you more with multi-currency accounts, competitive FX, global transfers, and built-in tools to keep your business moving across markets.

Is Volopay’s business account suitable for your business? 

Volopay’s business account might fit small businesses and startups in Singapore that need to manage day-to-day spend, such as employee reimbursements, bill payments, and card approvals. 

However, for businesses operating or planning to expand overseas, its limitations become clear. With support for only five currencies, international transfers that can cost up to S$35 per transaction, and a lack of payment acceptance tools, managing global cash flow with Volopay's business account can be challenging. Monthly account and card fees also add to operational costs, leaving finance teams with tighter margins and more manual work. 

Opting for Volopay’s business account also means switching between multiple platforms just to pay suppliers, reconcile transactions, or manage currency exposure – time that could be better spent scaling the business.

Pros and cons of a Volopay business account for Singapore businesses

The Airwallex Business Account offers a broader, more scalable alternative. You get access to local account details in 20+ currencies, fast, low-cost transfers to over 200 countries, along with built-in tools for global payouts, online payments, expense management, and more – all on a single platform. 

What is Volopay? 

Volopay is a spend management tool focused on helping startups and SMEs control company spend, manage reimbursements, and track expenses. It combines multi-currency accounts, corporate cards, and expense tracking, but its core strengths remain in spend management and basic payments.

How does Volopay work?

Volopay offers multi-currency accounts that support SGD, USD, GBP, EUR, and AUD. They also facilitate business transfers and foreign currency conversions through their partnership with Wallex.

To access Volopay’s full account features, there's a one-time setup fee and a subscription starting at S$20 per month or S$170 per year. Subscribers enjoy free local transfers, discounted international transfers, and automated accounts payable.

How does Volopay compare with Airwallex?

When your business spans borders, financial operations need to scale just as fast. While Volopay’s business account offers a starting point for managing company spend, it becomes limiting when you begin to expand across markets.  

In contrast, Airwallex is designed to help businesses expand globally from day one. Beyond advanced expense management built to give you greater visibility and control over global spend, you get access to a wide array of tools to manage global transfers, FX, online payments, and treasury – all on a single platform. 

Here’s how Airwallex stacks up against Volopay on the features that matter most: 

End-to-end expense management

Volopay charges a monthly fee for spend management, while Airwallex includes it for free for up to five users. Our built-in expense management tools help you automate your accounts payable and manage your bookkeeping in one place. You can submit and approve expenses, manage employee reimbursements, and reconcile your bills all within your Airwallex account. 

Open accounts with local bank details in 20+ currencies

With Airwallex, you can open local accounts in more than 20 currencies instead of maintaining separate bank accounts in each market. Sign up online with no setup fee, deposit, or monthly charges on the Explore plan.

Send money to 200+ countries

Using Airwallex, you can make payments to 200+ countries, providing a wider reach for your global transactions. With local payment rails in 120+ markets, you save on SWIFT fees, and most transfers arrive within the same day.

Collect global customer payments

Volopay doesn't provide payment gateway services. In contrast, Airwallex lets you accept payments from major cards and 160+ local methods, so your customers can pay the way they prefer.

Earn returns on idle funds

Instead of letting idle funds sit in non-interest-bearing accounts, Airwallex Yield lets you earn competitive returns on your SGD and USD balances, while giving you the flexibility to access your money anytime. Funds are invested in institutional-grade money market funds, and unlike traditional bank deposits, there’s no lock-in period or minimum balance required. You can start earning interest on your multi-currency balances directly from your Wallet, helping you grow your capital while managing day-to-day operations seamlessly.

Note: The information in this table has been reviewed to be accurate as of 10 November, 2025.

What are the key features of Volopay business accounts?

Volopay offers multi-currency accounts that support vendor payments and expense management. Key features include:

• Multi-currency accounts in SGD, USD, GBP, EUR, and AUD

• FX and global transfers to 180+ countries through Wallex

• Corporate cards with custom spending limits

• Accounts payable automation

• Real-time expense tracking

Multi-currency accounts

Volopay users in Singapore can receive, hold, and send funds in five currencies: SGD, USD, GBP, EUR, and AUD.

FX and global money transfers

Volopay supports cross-border payments with currency conversions and global transfers to 180+ countries through Wallex. For each transaction, the platform provides a breakdown of fees and exchange rates, so you can review and approve amounts before confirming the payment.

Corporate cards

You can issue unlimited free virtual cards and assign physical cards to employees for S$5 per card. 

Accounts payable automation

Volopay's accounts payable software automates bill payments, vendor payouts, and invoice processing. Businesses can submit, process, and approve invoices within the same multi-approval workflow. 

Real-time expense tracking

Real-time expense tracking gives you visibility over company spend. Teams can submit expense reports instantly, helping reduce manual data entry and potential  errors. 

Volopay pricing & fees

Volopay offers both SaaS and pay-as-you-go pricing models, with fees that vary based on your company’s location and monthly spending.

Here are the main costs you'll want to consider:

Note: The information in this table has been reviewed to be accurate as of 10 November, 2025.

Note that Volopay doesn’t share this pricing information publicly on its website. To obtain exact details, businesses must fill out a contact form and provide some basic company information like your business registration country, number of employees, and estimated monthly spending. Once you share this information, their sales team will reach out with a custom quote tailored to your business needs.

Stop losing out to hidden charges – explore Airwallex's pricing & fees 

Hidden fees add up, especially when every international payment, reimbursement, or card transaction comes with a cost. For many businesses, those charges quietly erode margins and make scaling globally more expensive than it should be.

Airwallex changes that. On our free Explore plan, businesses get a full suite of spend management tools, with no monthly fees or international card charges. You can open local accounts in 20+ currencies, pay suppliers in 120+ countries, and issue corporate cards for every employee – all without worrying about hidden costs.

Every transaction is transparent. Local and international transfers show fees upfront, FX rates are locked in real time, and your spend data syncs automatically with accounting tools like Xero and QuickBooks. That means less time reconciling payments and more time growing your business. And when your operations scale, Airwallex scales with you – offering more users, cards, and advanced features without any surprise charges.

Note: The information in this table has been reviewed to be accurate as of 10 November, 2025.

How to open a Volopay business account?

Opening a Volopay account usually takes about seven days. Follow these steps to get started:

1. Fill out the contact form on their website to connect with their sales representative and book a 30-minute demo presentation. 

2. To comply with KYB (Know Your Business) requirements, you'll need to provide essential documents, including your business registration certificate, ID of the account opener, and proof of address.

3. Volopay reviews and verifies the administrator's documents along with company details. At least one director and authorised signatory should be available to complete the required paperwork.

4. After approval, you'll be invited to participate in an onboarding session with Volopay's success team.

5. Once onboarding is complete, you can start using your account right away.

Need a global-ready option? Open a business account with Airwallex

Opening a business account with Airwallex is simple and straightforward. Follow these steps to get started:

1. Visit the Airwallex website and fill out the online application form.

2. Select the plan that best suits your business needs: Explore, Grow, Accelerate, or Custom.

3. Verify your identity and business details by uploading necessary KYB documentation, such as proof of address and incorporation documents. The whole process can be completed online.

4. Airwallex will review your application and approve your account in as quickly as 3–5 business days.

5. Once your account is approved, you can immediately set up different currency accounts and start making global payments. 

Consider Airwallex: the all-in-one financial platform built for global businesses

Volopay can help manage day-to-day spending, but its limited reach and added fees make it less practical for businesses operating across borders.

Airwallex gives you the control, speed, and visibility to scale confidently wherever you do business. Open local accounts in more than 20 currencies, send and receive money in over 200 countries, and manage online payments, cards, and expenses on a single platform.

Every transaction is transparent, every workflow connected. Your finance team can approve expenses, pay overseas suppliers, and reconcile accounts – all within hours, not days. With everything centralised, you gain real-time visibility over cash flow and reduce the friction that slows global growth.

Airwallex provides the infrastructure to match your ambition – helping you reduce costs, reclaim time, and expand into new markets without limits.

Frequently asked questions (FAQs) 

Is Volopay safe? 

Yes, Volopay is generally safe to use in Singapore. The platform is SOC 2 and ISO 27001 certified, and its card products are PCI DSS compliant, ensuring high standards of data and payment security. Volopay also uses two-factor authentication (2FA), 3D Secure (3DS) protection, and real-time card controls so users can block or deactivate cards instantly if needed.

Is Volopay licensed in Singapore?

Volopay has received in-principle approval for a Major Payment Institution (MPI) licence from the Monetary Authority of Singapore (MAS) under the Payment Services Act. This means its services are regulated for compliance with AML, CFT, and customer due-diligence requirements.

Sources:

1. https://www.commercialpaymentsinternational.com/news/wallex-partners-with-volopay/ 

2. https://www.volopay.com/pricing/ 

3. https://www.volopay.com/business-money-transfer/ 

4. https://www.volopay.com/corporate-cards/ 

5. https://www.volopay.com/accounts-payable/ 

6. https://www.volopay.com/expense-management/ 

All comparisons and information reflect Airwallex’s own research using public documentation as of 10 November, 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.