WorldFirst vs Airwallex vs Wise: 2026 comparison

Running a global business from Singapore in 2026 means the world is your marketplace. Small and Medium Enterprises (SMEs) currently make up 99% of all enterprises in Singapore, and many are increasingly looking toward international markets for growth¹. But, there’s a catch. Those that have attempted to enter new markets overseas have likely noticed the daunting wall of costs and fees while handling international payments.

The good news? Modern fintech solutions have redefined SME banking. Platforms like WorldFirst, Airwallex, and Wise Business offer flexible, digital-native alternatives to traditional corporate accounts, while operating under the oversight of the Monetary Authority of Singapore (MAS)²^,³^,⁴. But which one actually serves your company’s international payment needs?

In this article, we’ll compare these providers’ features and fees, so you can get a better idea of which could help you scale globally without the baggage of excessive fees.

What is WorldFirst?

Established in 2004 and now part of the Ant Group, WorldFirst has a long-standing presence in Singapore. It is primarily focused on e-commerce sellers and high-volume traders, particularly those operating within the Chinese and broader Asian markets⁵. WorldFirst Asia Pte. Ltd. is licensed as a Major Payment Institution under the Payment Services Act².

Their World Account is a multicurrency account⁶ that allows businesses to:

• Receive and hold funds in multiple major currencies.
• Access specialised tools for marketplace sellers on platforms like Amazon and AliExpress.
• Make same-day payments in key currency corridors.

A quick glance at the World Account’s core offerings shows how much it specialises in the e-commerce space, with integrations in the top marketplaces such as Amazon, TikTok Shop, Shopify, Etsy, Shopee and more.

It’s also worth noting that WorldFirst appears to target larger SMEs or high-volume traders who require deep integration with Chinese suppliers, such as 1688 and TaoWorld⁶.

What is Airwallex?

Founded in 2015 and operating in Singapore with a Major Payment Institution license³, Airwallex positions itself as a comprehensive financial operations platform for growing businesses. It is designed for tech-forward companies that need more than just a money transfer service.

Key features include:

• Multicurrency business accounts with local account details in 23+ currencies across 60+ countries⁷.
• An integrated payment gateway to accept card payments from customers⁸.
• Airwallex Corporate cards with expense management software⁸.

Airwallex is built for businesses that want to centralise their entire financial stack—from domestic payroll to international acquiring—within one ecosystem.

Although they do cater to several industries including, E-commerce & retail, Fintech & financial services, Professional services, Software & technology, and Travel, a quick glance at the companies showcased in their case studies shows that Airwallex has a strong portfolio of E-commerce businesses in Singapore⁹.

What is Wise Business?

Wise Business is a digital business account that allows you to hold, send, and receive money in 40+ currencies, while focusing on radical transparency — no hidden fees or hidden exchange rate markups — and always using the mid-market rate. Regulated by MAS as a Major Payment Institution⁴.

Feature Comparison: WorldFirst vs Airwallex vs Wise

When choosing a financial partner for your global growth, features matter as much as fees. Here is how the three providers stack up for Singapore companies:

Multi-currency support

All three providers enable businesses to hold and manage multi-currency balances, though their global coverage and operational focus differ significantly to suit various business models.

WorldFirst: Provides local receiving accounts in 20+ major currencies, including USD, GBP, EUR, AUD, JPY, and SGD. It is highly optimised for e-commerce, integrating with 130+ global marketplaces such as Amazon, Shopee, and TikTok Shop to streamline revenue collection.

Airwallex: Offers the broadest regional reach for collections, providing local bank details in over 23 currencies. It also has its own native payment gateway, allowing you to accept credit and debit card payments directly from customers in 180+ countries.

Wise Business: Similarly, the Wise Business account offers local account details for 24 currencies, including SGD, USD, EUR, and GBP. Wise does offer the ability to receive card payments, with two big differences:

• There are no monthly fees recurring fees.
• You receive funds in the customer's currency and can convert them at the real mid-market rate whenever you choose.

Cards and expense management

If your team travels or pays for SaaS subscriptions (like AWS or Slack) in foreign currencies, multicurrency corporate cards are a great way to save on unnecessary conversion fees and foreign exchange rate markups.

Airwallex offers powerful expense management where you can track receipts in real-time, and you can issue multi-currency Employee Cards to your team members around the world to streamline their local and global purchases¹⁷.

Note: Generally, most users will not be able to use Airwallex physical cards at ATMs as the feature is limited to Beta customers²⁹. This can be a drawback if you need to make purchases in cash on behalf of your business, for example when travelling²⁶.

WorldFirst does not offer Employee Cards yet, but their multicurrency World Card does offer up to 1.2% unlimited cashback with 0% foreign exchange fees on business expenses¹².

Wise Business Cards come with both physical and digital options, which you can easily issue to your team members to manage business spend. You can set individual spending limits and get instant notifications²¹.

More importantly, Wise lets you withdraw cash from overseas ATMs, which is especially useful when you need cash on the go while on work trips.

You can make two free withdrawals per month, up to a total value of SGD 350. After the free allowance, a fixed fee of SGD 1.50 per withdrawal plus a 1.75% variable fee on the amount exceeding SGD 350 applies¹⁹.

Batch payments

Running payroll for a global team? With bulk payments, you can streamline your payroll, and pay suppliers and contractors you work with frequently more efficiently.

Wise Business lets you process up to 1,000 invoices or payments in a single click via CSV or XLSX upload. Airwallex also offers batch transfers¹⁶ and a robust API for automated payouts. WorldFirst offers batch payments of up to 200 at one go.

Pricing and fee comparison: WorldFirst vs Airwallex vs Wise Business

Let's get right into the numbers and break down any fees from the three providers you should be aware of.

WorldFirst

WorldFirst doesn't charge a monthly fee, but they earn their revenue through a foreign exchange spread, otherwise known as a markup embedded in the exchange rate they give you. This may benefit high-volume traders who can negotiate lower margins based on their annual turnover¹¹. However, for smaller transactions, these percentage-based markups can sometimes end up costing more than a flat fee.

Airwallex

Airwallex is generally free to open and has no monthly fees for the free tier (Explore). There are two main ways they charge customers:

• Adding a margin to the exchange rate (typically starting around 0.4% to 0.6% above the interbank rate).
• Tiered pricing plans: You’ll need to pay more in monthly fees if you opt in to their Grow or Accelerate plans which offer more advanced capabilities such as Enterprise functionality, unlimited corporate cards, and interest on funds held.

Wise Business

Wise takes a different approach. You pay a one-time fee of 99 SGD to unlock full account features, including local account details. After that, there are no monthly subscription fees. When you convert money, Wise Business uses the mid-market rate with a small transparent fee starting from 0.26%. This upfront fee makes it ideal for businesses that prioritize transparency and want to know what they are paying for.

Fee factors to consider when choosing a business account

The "Hidden" Markup: Especially when making payments overseas, always compare the offered exchange rates against the mid-market rate. A "no-fee" transfer with a 2% rate markup is more expensive than a 0.5% conversion fee at the mid-market rate.

Integration Needs: If you use Xero or QuickBooks, ensure the "sync" is automated. Manual reconciliation can be a significant productivity drain.

Monthly Fees: Many Singapore banks charge a fee (typically SGD 10 to SGD 40) if your average daily balance drops below a certain threshold (e.g., SGD 1,000 to SGD 10,000)²⁴^,²⁵. If you are a pre-revenue startup or an SME just starting out, a digital-first bank with zero minimum balance and no monthly fees might be more cost-effective.

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Get started with Wise Business: All in one solution for global payments

Wise Business serves as an alternative to traditional business account as you can hold, send, receive and exchange 40+ currencies all in one place. You’ll always get the mid-market rate with low, transparent fees. Even better, you can connect Wise Business cards to your account to control team spending in real time and reduce admin.

Here's what you get with a Wise Business account:

• Hold and manage 40+ currencies for all your international transactions.
• Pay foreign currency bills and ad-hoc business travel expenses using the Wise Business card without hefty foreign transaction fees.
• Get your first Wise Business card for free when you open a Wise Business account.
• Always get the mid-market rate with transparent conversion fees.
• Seamless integrations with popular accounting software.
• Earn a variable return** on SGD, GBP, EUR, and USD through Wise Interest

➡️Get started with Wise Business today

** Growth is not guaranteed. Capital at risk.

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Sources

1. SG60: How Singapore’s SMEs are shaping a sustainable future for Asean: Straits Times
2. WORLD FIRST ASIA PTE. LTD.: Financial Institutions Directors, MAS
3. AIRWALLEX (SINGAPORE) PTE. LTD.: Financial Institutions Directors, MAS
4. WISE ASIA-PACIFIC PTE. LTD.: Financial Institutions Directors, MAS
5. Expanding overseas: Take your business from local to global in 24 hours: Straits Times
6. World Account: WorldFirst SG
7. What is a multi-currency account? Growth benefits for businesses: Airwallex Singapore
8. Airwallex - Trusted Global Payments & Financial Platform: Airwallex Singapore
9. Case Studies & Customer Success Stories: Airwallex Singapore
10. Corporate bank account in Singapore: 5 options compared: Worldfirst Singapore
11. Pricing and Fees: WorldFirst Singapore
12. Multi-currency card for business: WorldFirst Singapore
13. Get paid by marketplaces globally: WorldFirst Singapore
14. Integrate accounting software: WorldFirst Singapore
15. Best Business Bank Account in Singapore: Airwallex Singapore
16. Plans & Pricing: Airwallex Singapore
17. Business Debit Cards: Airwallex Singapore
18. Airwallex Corporate Card Review: Wise Singapore
19. Wise Business Pricing: Wise Singapore
20. Accept Card Payments: Wise Singapore
21. Sync Wise with Accounting: Wise Singapore
22. Manage team finances: Wise Singapore
23. Understanding Airwallex Fees: Corporate Alliance
24. Opening a business bank account? Read this first: DBS
25. Pricing Guide, Deposit Accounts & Services for Small Medium Enterprise (SME): DBS
26. Airwallex Review: Exiap
27. Fee schedule: Airwallex Singapore
28. Wise Card Singapore Review: Wise Singapore
29. How do I use advanced card controls: Airwallex Help Centre

As of 29 January 2026