Volopay Account Review [2025]: Pros, Cons & Alternative

Final Verdict

Volopay offers modern spend management for growing businesses, but fee transparency remains a drawback.

Volopay combines multi-currency business accounts, unlimited virtual cards, and real-time expense tracking into one platform. It’s designed for startups and SMEs managing both local and international transactions, with built-in tools for reimbursements, approvals, and accounting sync. If your business juggles multiple payment flows and wants tighter financial control, Volopay can help consolidate everything in one place.

What stood out to me is how well Volopay simplifies spend management, especially for companies with growing teams or overseas vendors. You can automate approvals, issue cards instantly, and manage expenses across departments without relying on spreadsheets or multiple tools. The ability to hold funds in different currencies also makes it practical for businesses handling cross-border payments.

With that said, I think the lack of pricing transparency is an issue. You won’t find a fee table on Volopay’s website, and details like card fees, FX rates, or regional pricing often require contacting sales. The setup process also starts with a mandatory demo, which may not suit businesses looking for instant access. 

Volopay works well if you value centralised control and digital-first operations, but if upfront pricing and fast onboarding are non-negotiable, alternatives like Statrys may be a better fit.

Key Highlights:

• Multi-currency account: Hold and manage funds in up to 11 currencies. ​
• Unlimited virtual cards: Issue unlimited virtual cards for streamlined business spending. ​
• Global payments: Send money to over 130 countries with both SWIFT and non-SWIFT options. ​
• Real-time expense tracking: Monitor and manage expenses in real time with accounting integrations. ​
• No minimum balance: Operate without the need to maintain a minimum balance.
• Funds safeguarded: Customer funds are held in a trust account with DBS Bank, Singapore.

Volopay delivers a flexible multi-currency business account for startups and SMEs in Singapore, handling both local and international payments. You can send and receive money in over 11 currencies—including SGD, USD, and EUR—with local transfers supported via FAST and international payments available to more than 180 countries. While the account lets you hold major currencies, it’s mainly designed to simplify business payments rather than serve as a tool for currency trading.

Its strength lies in combining key financial tools in one platform. Teams can issue unlimited virtual cards with spending limits, automate vendor payments and employee reimbursements, and connect the account to platforms like Xero and QuickBooks for easier bookkeeping. Reimbursements can be processed in the original currency, helping global teams avoid unnecessary conversion steps. Businesses may also apply for short-term credit and set spending limits on company cards, depending on their financial standing.

Volopay typically offers a few account options to suit different business stages.

• Starter Plan: A simple option for early-stage companies that need a reliable way to send and receive payments, with access to essential card and spend controls.
• Growth Plan: Built for growing teams that want to streamline expense claims, issue more cards, and reduce manual finance tasks through automation.
• Enterprise Plan: Suited to larger businesses managing high transaction volumes or complex approval processes, with custom limits, advanced controls, and dedicated support.

Our Verdict: 8/10

If your business is spending too much time on payments, expense management, and reconciliation, Volopay offers a more efficient way forward. It’s built for growing teams that want tighter control over company spending, fewer manual processes, and reliable support for international transfers. With tools for approvals, reimbursements, and real-time tracking, Volopay helps streamline financial operations without the need for additional software. While it may not replace a full-service bank, especially for advanced FX needs, it’s a strong, scalable option for simplifying day-to-day finance.

Volopay does not publicly list fixed pricing for its business accounts. Instead, fees are tailored based on your company’s location, size, and spending profile. To receive a detailed quote, businesses must provide basic information such as their registration country, industry, number of employees, and estimated monthly spend.

While Volopay’s website includes a “Pricing” page, it does not display specific fee structures. The page highlights general claims such as “No hidden fees,” “$0 domestic transfer fee,” and “Low international transfer fee,” along with an overview of features like virtual cards, multi-currency wallets, and accounting integrations. Users are directed to contact the sales team for detailed pricing information.

Our Verdict: 8/10

If your business is spending too much time on payments, expense management, and reconciliation, Volopay offers a more efficient way forward. It’s built for growing teams that want tighter control over company spending, fewer manual processes, and reliable support for international transfers. With tools for approvals, reimbursements, and real-time tracking, Volopay helps streamline financial operations without the need for additional software. While it may not replace a full-service bank, especially for advanced FX needs, it’s a strong, scalable option for simplifying day-to-day finance.

Volopay offers support through a Help Center and live chat available on its website. The Help Center includes articles covering topics such as account setup, payments, corporate cards, and software integrations. While helpful for general guidance, it may not cover every scenario in depth.

For additional assistance, users can contact Volopay’s support team directly through the website’s live chat feature. Inquiries related to pricing or account-specific issues may be forwarded to the sales or customer success team for follow-up.

Our Verdict: 6/10

Volopay offers basic support through a Help Center and live chat, which covers general questions and troubleshooting. While that’s useful for resolving simpler issues, there’s no clear information on support hours, response times, or dedicated assistance. For businesses that need timely, dependable help, especially when managing critical payments, this may fall short of expectations.

Volopay business accounts are available to companies registered in Singapore, Australia, India, and Indonesia. In Singapore, the process begins with booking a demo, which serves as the first step toward setting up your account. During the session, Volopay’s team will walk you through the platform and how it integrates with your business operations.

To comply with Know Your Business (KYB) requirements, you will need to prepare and submit the following documents:

• ACRA business registration document
• ID of the person opening the account
• Proof of address (POA) for the designated point of contact (POC)

After reviewing your documents, Volopay will create an admin account for your company’s authorised representative. To complete the setup, you must have at least one director and authorised signatory available to sign the necessary paperwork.

The timeline for account approval can take up to four weeks, depending on how quickly documents are submitted and signatories are made available. For businesses outside Singapore, the process may vary slightly, and it’s recommended to contact Volopay directly for region-specific requirements.

Our Verdict: 6/10

Volopay’s onboarding process is clear and structured, but the requirement to book a demo and the potential four-week timeline may be off-putting for startups or SMEs looking for a faster, self-serve setup. While the guided approach may benefit businesses with more complex needs, others may prefer platforms that offer quicker activation with fewer manual steps.

Trustpilot: 3.9/5 (based on 15 reviews)

Volopay receives generally positive feedback for its responsive customer service, intuitive interface, and ability to simplify global expense management. Users in Singapore and India highlight the benefits of using Volopay for cross-border transactions, corporate card issuance, and reimbursement tracking. Several reviewers appreciate the frequent product updates and say the platform has improved over time.

That said, some users have raised concerns, particularly around technical issues following recent software updates. Reported problems include bugs in the search and accounting features, syncing errors with accounting software like Xero, and a lack of effective troubleshooting. A few negative reviews also mention communication delays when trying to resolve more urgent matters.

Overall, Volopay’s feedback reflects a platform that delivers well on core functionality but may occasionally experience growing pains as it continues to scale. For businesses that prioritise automation and cross-border efficiency, the positives appear to outweigh the drawbacks, especially if their workflows align with the platform’s current strengths.

If you're weighing up fintech options for managing your business finances, and you're looking for a provider that offers clarity, personal service, and global capabilities, Statrys is a strong alternative.

Founded in Hong Kong in 2019, Statrys supports companies registered in Singapore, Hong Kong, and the British Virgin Islands with business accounts designed for international payments and multi-currency needs. Though not a traditional bank, Statrys is a licenced payment service provider regulated in Hong Kong, with a strong focus on compliance and customer support.

Here’s what you can expect with a Statrys business account:

• Manage funds in 11 major currencies, including SGD, USD, EUR, and GBP—all from a single account
• Access international transfers with mid-market FX rates to help reduce conversion costs
• Connect directly to Xero to simplify your bookkeeping and cash flow tracking
• Work with a dedicated account manager for personalised support, no chatbots, no queues
• Enable team spending with custom prepaid cards and flexible spending controls
• Enjoy transparent, predictable pricing with no hidden setup or fall-below fees

Statrys is built for businesses that want efficiency and global reach, without compromising service or control.