Wirex Singapore review
Spend your crypto and fiat currencies worldwide at interbank rates and with no fees.
This review covers everything you can do with Wirex in Singapore, including how it works, what it costs and its pros and cons. Read ahead and find out if Wirex is right for you.
Domestic ATM fee
Currency conversion fee
|Product Name||Wirex Standard|
|Card delivery||5 business days|
|Supported Currencies||SGD, AUD, CAD, EUR, GBP, HKD, JPY, NZD, USD, CHF, CZK, MXN|
|Domestic ATM fee||2% per payment|
|International ATM fee||2%|
|Currency conversion fee||0%|
|Free ATM withdrawal limit||S$400 per month|
|Mobile payments||Apple Pay, Google Pay|
|Card type||Mastercard, Visa|
|Go to site|
How does Wirex work in Singapore?
Launched earlier in November of last year, UK-based PayTech Wirex introduced their Wirex Visa Travelcard at the Singapore FinTech Festival. The travel card is compatible with more than 150 currencies and provides users with the option to link up to 12 traditional currencies and eight digital currencies at interbank and OTC rates.
To sweeten the deal, Wirex also offers a reward program known as Cryptoback, which generates up to 2% back in WXT (Wirex Token) on all in-store and online purchases you make on the card.
Wirex is also a payment platform for buying, selling, storing, exchanging and transferring cryptocurrencies, making it a hybrid between traditional banking and cryptocurrencies.
Unlike traditional digital payments providers in Singapore, Wirex is well-known for its crypto payments features. As Wirex aims to make crypto more accessible for everyone, it offers a range of cryptocurrency tools that allow users to spend or earn rewards in digital currencies. For example, the Wirex multicurrency card allows you to spend in cryptocurrency — just as you would spend with a traditional debit card. Wirex further offers crypto rewards with Cryptoback, as well as zero exchange fees when you switch between crypto and fiat currencies. These are just some of the notable Wirex crypto features that you should consider when signing up with them.
The app is simple, user-friendly and streamlined. With Wirex, users in Singapore can do the following:
- Make international payments. The app lets you transfer money to anyone in the world at the interbank exchange rate.
- Fee-free global spending. Your Wirex card automatically makes overseas payments in the local currency at the interbank rate without charging any exchange fees.
- Free ATM withdrawals. You can withdraw from overseas ATMs for free, up to S$400 per month.
- Hold different currencies in your account. You can hold a balance or make an exchange in eight digital and 12 traditional currencies within the app, including SGD.
- Control your card and account. You can block and unblock your card in the Wirex app as well as set monthly spending limits.
- Earn crypto rewards. Generate up to 2% in WXT on all your in-store purchases.
- Worldwide acceptance. Wirex cards can be used wherever Visa is accepted, whether in stores or online at over 61 million merchant locations around the world.
- Buy, hold and spend cryptocurrency. With Wirex crypto, you can exchange, hold and spend in eight cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple (XRP), Wirex Token (WXT), Dai (DAI), Nano (NANO) and Stellar Lumens (XLM).
- Convenient top-up. Reload your value anytime with a credit card, debit card or using cryptocurrency transfer.
- Instant notifications. Keep track of your payments with live in-app notifications instantly each time a transaction is made.
How do Wirex’s accounts work
Wirex offers three account tiers: Standard (S$0/month), Premium (S$9.99/month) and Elite (S$29.99/month).
Fees and limits
- S$0 account management fee
- S$0 ATM fee if you withdraw less than S$400 per month, a 2% fee thereafter
- Cryptoback rewards of up to 2%
- If your card isn’t confirmed, you can’t use it to top up more then USD$50. If the card is confirmed you can load up to USD$5,000.
- Daily spending limit of S$5.000
- 1% fee to top up your Wirex crypto account.
Wirex is an app to consider if you want a convenient digital account with impressive cryptocurrency functionality. You can buy, hold and sell multiple fiat and digital currencies and enjoy easy account management and top up. There’s also no monthly fee.
However, if you are looking for a digital bank account with spending analytics and savings functions, you may want to consider another app available in Singapore.
How to sign up
Signing up for Wirex is easy. Just click “Go to Site” on this page and then follow this process:
Once your Wirex account has been successfully verified, you can request a contactless Wirex card. Simply click the “Order a card” button on the dashboard of your Wirex web application or mobile app, confirm your delivery address and select your delivery method. Enjoy free standard delivery via Singpost, or opt for trackable express delivery via DHL at an additional charge of S$5 to S$25.
Compare Wirex with other digital banks in Singapore
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