Revolut unveils money management platform in Singapore

Businesses can hold over 25 currencies and access over 150 more.

Revolut has launched a business-to-business (B2B) offering in Singapore.

Revolut Business aims to give Singapore companies a money management solution that promises to help them manage their finances and spend less time on admin tasks.

Prior to its roll-out in Singapore, Revolut Business was already processing S$22.3b worth of transactions per month globally and is onboarding 20,000 enterprises on average per month, the B2B company said in a press release. 

Services and features offered by Revolut Business include multi-currency accounts, virtual and physical debit cards, real-time spending reports, and the ability to set up and manage multiple users. 

Businesses can hold over 25 currencies and access over 150 currencies at the interbank rate. Revolut promises no hidden costs.

Four plans
Revolut is launching the platform in four plans:  Basic, Grow, Scale and Enterprise, catering to businesses of all sizes.

In all of the plans, businesses can access unlimited foreign currency exchange at market-leading exchange rates.

Fee-free currency exchange ranges from S$1,500 (Basic), S$13,000 (Grow), S$60,000 (Scale) to S$250,000 (Enterprise) per month at the mid-market rate. A 0.6% markup will apply for businesses who exceed these monthly allowances.

The basic plan does not have a recurring charge. The Grow, Scale and Enterprise plans are priced starting from S$15, S$84 and S$417 per month, respectively. 

For the paid plans, businesses can choose to pay monthly or enjoy greater cost savings of up to 20% with an annual payment.