YouBiz Review [2025]: Features, Fees and Customer Support

YouBiz is a business account by YouTrip, a payment service provider regulated by the Monetary Authority of Singapore. It offers corporate cards, multi-currency business accounts, and expense tracking for SMEs and startups.

Businesses can manage spending, make international payments at competitive rates, and earn cashback on certain business purchases. With tools for team spending control and easy expense management, YouBiz offers a modern alternative to traditional business banking.

YouBiz has recently partnered with CloudMile to help businesses in Singapore adopt AI and cloud solutions. They offer cashback on cloud subscriptions to offset initial costs.[1]

Here are YouBiz’s payment solutions tailored to businesses in Singapore.

YouBiz offers virtual and physical Mastercard® debit cards for businesses, providing flexibility for payments and expense management.

• Make purchases online and in-store worldwide.
• Withdraw cash at ATMs with Mastercard®, Maestro, and Cirrus logos.
• Earn unlimited 1% cashback on eligible business purchases, automatically credited by the 15th of the next month.
• Issue unlimited physical and virtual cards for your team.
• Link cards to specific foreign currency accounts (9 supported currencies) for direct spending without conversion.
• Spend in foreign currencies with no foreign exchange fees.
• Make contactless payments using Apple Pay.
• Customise spending limits to prevent overspending.

According to YouBiz, your physical card will arrive in 5-8 working days after you request a card.[2]

Do note that you can make purchases up to USD 100,000 (or SGD 134,058.50) per transaction[3], and you can withdraw up to SGD 20,000 per card per day.[4]

The YouBiz account is a business current account that lets you hold, receive, and send money in multiple currencies, making international transactions simple.

With a YouBiz account, you can:

• Create foreign currency accounts in 9 different currencies: SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF, and THB, which allow you to hold and send money in these currencies.
• Receive money for free in SGD, USD, EUR, GBP, JPY, HKD, AUD, and CHF. [5]
• Send money overseas in 20 currencies, including BRL, CAD, CNY, INR, IDR, and MYR.
• Create multiple accounts for the same currency to manage budgets more effectively, with up to 30 sub-accounts available.
• Send batch payments of up to 1,000 transactions in one go. Simply upload the XLSX file to YouBiz.
• Generate and share a QR code for quick payments from customers.
• Assign user roles to team members to control account access and permissions.
• Track transactions and card activity in real-time with instant notifications.
• Integrate with Xero for automatic bookkeeping. (Currently available only on the YouBiz website; mobile support is expected in 2025.) [6]

There is no limit on the total account balance. However, there are limits on the amount you can transfer per transaction. These limits apply to both sending and receiving money, depending on the currency. [7] For example:

• SGD: 200,000
• USD: 500,000
• EUR: 300,000
• GBP: 250,000
• HKD: 2,500,000
• THB: 10,000,000.

You can exchange money between 9 supported currencies: SGD, USD, EUR, GBP, JPY, HKD, AUD, CHF, and THB anywhere and anytime via the YouBiz platform.

The rates offered by YouBiz are based on wholesale exchange rates, with an additional markup of 0.1% to 0.4%. These rates are comparable to those used by large corporations for high-volume currency transactions.

To check the current rates, simply visit your dashboard. When you initiate an exchange, YouBiz will lock in the foreign exchange rate for 3 minutes to ensure you get the rate you prefer. [8]

YouBiz is a multi-currency business account with corporate cards designed for SMEs in Singapore that deal with international payments. Businesses can hold and send money in 9 currencies, set up 30 sub-accounts for better budget management, and sync with Xero for easy bookkeeping.

Additionally, YouBiz provides unlimited virtual and physical cards with 1% cashback and no extra fees for spending in foreign currencies, making it great for expense control.

However, it doesn’t offer FX hedging tools like forward contracts and limits on transfers may be restrictive for large business transactions.

Opening a YouBiz Account is free, with no monthly fees or account balance requirements. However, fees will apply when using YouBiz services. [9]

Below are the examples.

While YouBiz offers cost savings with no monthly fees and free local transfers, the lack of clear international transfer fees creates uncertainty for businesses. Companies handling frequent cross-border payments may find it difficult to calculate costs, making YouBiz less attractive for those needing full fee transparency.

Businesses can reach the YouBiz customer support team through several channels [10], including:

• Phone: +65 3129 8001 (available Monday to Friday, 9.00 - 18.00 UTC+8)
• Email: youbiz.help@you.co

YouBiz also provides a chatbot that searches FAQ articles based on keywords to assist with common issues. Additionally, the Help Centre (available in English) offers self-service support, allowing users to find answers and troubleshoot problems outside of working hours.

YouBiz offers multiple customer support channels, including chatbot, FAQs, email, and phone support, which is a plus for businesses needing direct communication. However, the lack of 24/7 support and reliance on a chatbot makes it less responsive than competitors, such as OFX and Aspire App. Businesses that require round-the-clock assistance may find this frustrating.

To apply for a YouBiz account, you must:

• Be 18 years or older.
• Have a business operating in Singapore.
• Not be involved in restricted industries, including marijuana, casinos, and gaming.

For Singapore Businesses:

You can apply using Singpass for quicker processing, which auto-fills your business information. Alternatively, you can apply manually by providing:

1. ACRA Business Profile – Must be dated within the last 3 months.
2. Authorisation Letter – Required if the applicant is not a company director (signed by a company director or an equivalent person).
3. Identification Document – A photo of your NRIC (front & back) or an accepted identification document, including but not limited to a passport, Employment Pass, and S Pass.
4. Authorisation Letter – Required if the applicant is not a company director (must be signed by a company director or an equivalent person).

For Non-Singapore Businesses: 

You must submit a Business Registers/Company Registry Report, which must include:

• Entity details (company name, registration number, and address).
• Full ownership structure (shareholders and directors).
• Key appointment holders (e.g., directors, legal representatives).

The report must be issued within the last 6 months. If it is older than 6 months, it must be certified as true and dated by a director. If any documents are not in English, they must include certified translations in English.

Additionally, if the applicant is not a company director, an Authorisation Letter is required. This letter must be signed by a company director or an equivalent person. [11]

Opening a YouBiz account is simple and convenient, especially for Singapore businesses using Singpass. The process is clear, and the necessary documents are listed on the website. For eligible applicants, setting up an account is quick and hassle-free.

Still looking for an alternative? Consider Statrys.

Founded in 2019, Statrys is a licensed payment service provider in Hong Kong, offering payment solutions tailored to businesses registered in Hong Kong, Singapore and the British Virgin Islands (BVI).

With a Statrys business account, you can hold, receive and send money in 11 major currencies: SGD, USD, EUR, GBP, HKD, AUD, CAD, JPY, RMB, CHF, and NZD. You can save on transfer fees with local payments in 12 currencies, including SGD, USD, EUR, GBP, HKD, CNY and JPY and you can track your incoming and outgoing payments in real-time.

Statrys also offers prepaid Mastercard® to ensure businesses can make secure purchases on the go and withdraw cash at ATMs worldwide. In addition, Statrys provides forward contracts at competitive exchange rates based on real-time mid-market rates to help you manage currency fluctuations and stay within your budget.

Every Statrys account includes a dedicated account manager to ensure you get personalised support whenever you need it.