Volopay Money Transfer Review: Is It the Best For Businesses?
Volopay Money Transfer Review: Is It the Best For Businesses?
ValueChampion Rating 
Pros
- Cheapest rates for businesses with transfers above S$10,000
- Automated bill pay
- 1% Cashback when using Volopay credit card
- No min/max transaction limits
Cons
- Not the cheapest for smaller money transfers
Volopay is a business account platform that combines your corporate credit card, money transfers, and other accounting services under one shop. The platform provides businesses the convenience of automating recurring vendor payments and international money transfers while offering 1% cashback on all fx transactions on their card. Businesses that regularly remit international money transfers to their vendors may benefit from their subscription services.
| Summary of Volopay's Money Transfer Service |
|---|
| Business account platform |
| Automated recurring vendor payments |
| No minimum or maximum transfer limits |
| Transfers available to over 130 countries |
Table of Contents
What Makes Volopay Money Transfer Service Stand Out to Consumers?
Volopay works as a subscription service for businesses looking to combine corporate credit cards, bill payments, expense reimbursements, and accounting automation on one platform. Volopay is particularly attractive to companies who regularly remit payments to international vendors to offer some of the best remittance services available.
Since Volopay offers fixed flat fees, SMEs can take advantage of some of the cheapest transfer rates for amounts above S$10,000. Businesses can save money on supplier payments and capital transfers. Volopay also boasts money transfer services to over 130 countries, making this an ideal option for small to medium-sized businesses operating in global markets. Additionally, when using a Volopay credit card, you can enjoy 1% cashback on any FX transaction.
| Volopay Remittance Service Details | |
|---|---|
| Minimum Transfer | none |
| Maximum Transfer | none |
| Transfer Fee | $10 (non swift), $50 (swift OUR), and $25 (swift shared) |
| Transfer Speed | Dependent on the country |
| Countries | 130+ |
With that said, other platforms offer lower fee structures for smaller payments and some can guarantee transfer speeds within just a few hours. Volopay is an ideal service for businesses looking to combine their corporate credit card with their vendor payments. Also, if your company does not often deal with international clients, you will not be able to take full advantage of their cash back rewards on corporate cards.
How to Register: Sign-Up Process
- Service Fee
- $10 (non swift) $50 (swift our) $25(swift shared)
- Government Licence
- MAS - Major Payment Institution
- Maximum Transfer
- none
- Currencies
- 130 countries
- Transfer Speed
- unknown
To sign up, click any of the buttons on this page. You will be prompted to provide your contact information (i.e. name, email address, mobile number) to receive a quote for your transfer. The registration process takes just a few minutes
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Stephen Lee is a Senior Research Analyst at ValueChampion, specializing in insurance. He holds a Bachelor of Arts degree in International Studies from the University of Washington, and his prior work experience include risk management and underwriting for professional liability and specialty insurance at Victor Insurance. Additionally, Stephen is a former US Peace Corps Volunteer in Myanmar (serving between 2018-2020), where he continues to provide business development consulting services to HR companies in Asia Pacific.