Features
Fees
Customer Support
Ease of Opening an Account
Final Verdict
A payment services platform with multi-currency capability and a wide range of service, but it lacked clear pricing and onboarding process.
SingX provides a comprehensive range of financial tools designed to streamline global business operations, from multi-currency wallets and international payments to bulk and payroll payments. Additionally, the platform goes beyond simple business accounts by supporting customisation, white-label solutions and financing options.
However, SingX lacks upfront transparency in several key areas, such as fees and eligibility. This lack of clarity can create challenges, especially for small businesses that have to carefully budget their expenses. Additionally, information about available integrations is limited.
Key Highlights
- Hold and convert 14 currencies from a single account
- Make payments to over 180 countries via local systems or SWIFT
- Accept client payments in multiple currencies
- Run bulk payments and payroll
- Access white-label and financing products
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Pros ✅
Cons ❌
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SingX Business Account Features
SingX offers “Global Bank Accounts”—personalised accounts that simplify cross-border transactions—along with a “Multi-Currency Wallet”, allowing users to store and manage balances in multiple currencies. Here are the key features:
- Hold & Convert: Store funds in 14 different currencies within your virtual account and exchange them when needed.
- International Payments: Send money to over 180 countries through local currency channels or SWIFT.
- Invoicing & Payroll: Pay invoices, manage payroll, and handle intra-company transfers.
- Collect: Accept payments from buyers in multiple currencies.
- Bulk Payments: Process payments to up to 1,000 recipients at once.
- Maker-Checker: A two-step approval process where the “Maker” initiates a transaction, and the “Checker” reviews and approves it before execution.
- Dashboard: Track payments 24/7, reconcile accounts, and manage everything from a single dashboard.
SingX offers additional solutions for different financial ecosystems. The platform can be customised to meet specific operational and integration requirements. To do so, you will need to contact their support team for assistance.
Apart from business accounts, they also offer custom-branded (white-label) solutions that allow payment companies to expand their services quickly without significant infrastructure investment. Businesses can also access financing for payments to suppliers, contractors, and employees.
SingX provides solutions tailored to a variety of industries, including trade services, fintechs, Web 3 companies, escrow companies, HR companies, money service operators, shipping companies, and others.
Our Verdict: 8/10
SingX provides a comprehensive suite of business features, offering well-rounded capabilities such as multi-currency support, international payments, and payroll services. One standout aspect is the availability of customisation options and tailored service for specific industries, which adds significant value. |
SingX Fees
Fees, including account and transfer fees, are not shown on the Singx website. Clients need to contact SingX directly for more information about these fees.
After you sign up, you’ll be able to view the live exchange rate and any fees on your dashboard before initiating the transfer. While the website claims to offer competitive exchange rates, it does not provide much detail beyond that.
Our Verdict: 4/10Businesses interested in the service must contact support to obtain pricing information, as cost structures are not publicly disclosed. This lack of upfront transparency makes it challenging to compare the service with competitors. Displaying FX rates and fees on the dashboard is standard practice, not a standout aspect. |
SingX Customer Support
You can contact SingX through the following channels:
Fill the contact form at https://business.singx.co/?contact
For email, reach out to help.business@singx.co for general business inquiries.
Alternatively you can also contact help@singx.co (Singapore), help.hk@singx.co (Hong Kong) or help.au@singx.co (Australia)
For phone support, call +65 3163 6148 for general business inquiries.
Alternatively, you can also call +65 3158 4669 (Singapore), +852 5808 0270 (Hong Kong) or +61 3 9917 4319 (Australia).
If you'd like to visit an office, it can be done by appointment only.
- Singapore Office: 138 Cecil Street #04-01 Cecil Court, Singapore 069538
- Hong Kong Office: L/20, Leighton Centre, 77 Leighton Road, Causeway Bay
- Australia Office: Level 4, 240 Queen Street, Brisbane, QLD 4000
For more information, please refer to SingX contact page
Our Verdict: 7/10SingX offers a decent range of contact options, including phone and email support, with localised number and email. The option to visit physical branches is an advantage for those who prefer in-person interaction. However, the lack of information on support hours and the absence of live chat limits responsiveness and may impact user convenience. |
Opening a SingX Account
To evaluate the simplicity of opening an account with SingX, let's examine the eligibility criteria, the necessary information and documents, and the steps involved in the application process.
Eligibility Criteria and What You’ll Need
SingX does not provide details on the eligibility criteria, required documents, or steps for opening a business account on its website. The only information available is that companies worldwide can sign up.
How to Apply
Prospective clients should contact the SingX team via the query form or email business@singx.co to begin the sign-up process.
- Visit the SingX website and navigate to the business page at https://business.singx.co/
- Click on the "Get Started" button on the page.
- Provide your basic contact details, including your name, email, and phone number.
- Enter essential company details such as company name, country of registration, monthly payment amount, website, and the product you're interested in.
- After submitting the form, a representative from SingX will reach out to you and guide you through the next steps to set up your account.
Our Verdict: 5/10The lack of clear eligibility criteria and documentation requirements on the website creates uncertainty for potential users. Businesses must initiate contact without knowing if they meet the basic qualifications, which is not the most time-efficient approach. While the application process may benefit those who prefer guidance from a representative, it falls short for users who favor a self-service online sign-up. |
SingX Ratings and Reviews
- Google Review: 4.5/5 (based on 1,947 reviews)
SingX holds a good rating on Google Reviews, with users finding the transfers fast, the exchange rates competitive, and the customer service responsive. However, negative reviews point to app crashes, a slow-loading website, and issues and delays in remittances.
- Apple App Store Rating: 2.3/5 (based 179 reviews)
The app holds a relatively low rating on the Apple App Store. Many of the reviews are outdated, with common criticisms focusing on an unhelpful interface. However, positive reviews mention satisfactory exchange rates and fast transfer speeds.
- Trustpilot: 3.2/5 (based on 8 reviews)
SingX receives a moderate rating on Trustpilot. Some users find the SingX team helpful and the fees reasonable. However, there are negative reviews from others who experienced delays, had their money held, or were refused registration. Due to the limited number of reviews, it’s hard to form a clear judgment about the service.
There is no review or rating on Google Play Store
Overall, SingX has around 2,000 reviews and ratings across platforms, which is a decent volume that offers a reasonably broad sense of user sentiment. Despite its strong 4.5/5 rating on Google Reviews, where users appreciate the transfer speeds and competitive exchange rates, the app's performance on the Apple App Store is weaker, likely due to interface issues. Trustpilot reviews are too few to provide a clear picture. In summary, SingX shows mixed user experiences.
Want A Simpler Alternative? Consider Statrys
Looking for a fully online business account — with no hidden charges, no monthly fees or complicated terms? Statrys offers a straightforward solution.
Statrys is not a bank, but a licensed Money Services Operator in Hong Kong, built for companies registered in Hong Kong, Singapore, and the British Virgin Islands. The platform specialises in cross-border transfer, competitive FX based on mid-market exchange rates, and multi-currency business accounts.
With Statrys, you can hold funds in 11 currencies, send and receive money via SWIFT or local networks, apply for a business card for point-of-sale transactions, use the maker-approver feature, view all fees clearly on the pricing page, and sign up online with ease.
Here’s a quick overview of what Statrys offers:
Our Rating Methodology
More info
Click "More info" to understand how we calculate our SingX Business Account ratings.
FAQs
Is SingX a bank?
SingX is not a bank, but it is a regulated Major Payment Institution under the Monetary Authority of Singapore (MAS). It is also licensed as a Money Service Operator in Hong Kong and holds an Australian Financial Services License issued by ASIC in Australia.
How does SingX work?
Is SingX trusted?
How long does it take to complete a transfer with SingX?
Who founded SingX?
Disclaimer
Statrys competes directly with SingX in the payment industry, but we are committed to providing an unbiased and thorough review. Click More info to read the full disclaimer on our review.
