Frequently asked questions

Debit Card

Business Financing

Invoicing

Multi Currency Account

Card application

You need basic Singpass login - get access to the card in 1 step

Card issuance

Our debit card issuance is immediate and delivered ready to spend - Goodbye tedious bank card applications!

Charges for the debit card

No subscription charges or ongoing fees. There is a 1.6% charge for transactions in a foreign currency or a merchant who is not acquired domestically levied by Mastercard.

How to use?

The Friz virtual card can be used for any E-commerce transactions and the physical card is an effort in progress

Where is your money?

Any money you deposit to the Friz debit card is safely stored with our sponsor banks. You can freely spend and access these funds just like you would with any debit card.

Redeeming card benefits

Spend and earn cashbacks - we don't want to burden you with promo codes and difficult to redeem loyalty. Find your benefits credited back into your Friz debit card after you transact.

Friz debit versus my bank account’s debit

Does your bank really understand you? This is the real question. Do they trust you and give you the benefits that you really need? Like cashbacks on Upwork credits, Google account benefits and Canva cashbacks to name a few. Try out Friz - there is something for everyone.

Loading money on the debit card

You can load money on the debit card through a FAST transfer from an SGD denominated bank account or through SWIFT for an account with a non-SGD currency. Forex conversion charges apply if you add money from a non SGD account.

When will my cashback be available?

Cashbacks are granted immediately!

Are there any limits to the cashback?

We have no cashback limits.

Are there any exclusions to the cashback promotion?

Yes, top-ups to e-wallets such as GrabPay wallets, Revolut accounts and transactions to AXS do not qualify for the 1.75% cashback. Additionally if you are performing a funding transaction to another account or a remittance this will also not be eligible for a cashback. Friz reserves the right to change the cashback policy on the go but please reach out to our customer service if you feel that your cashback has been wrongly excluded.

What is a Friz Funding Societies Business Loan?

Worried about getting rejected from bank loans and credit cards because you don't have monthly pay slips or full time employment? Worry no longer. We evaluate your credit worthiness on your strengths.

Friz x Funding Societies Business Loans are flexible short-term loans with approvals within 5 working days. The loan amount can be in the range of S$3,000 - S$100,000.

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What documents are needed during application?

In order to process an application quickly and efficiently, please provide the following documentation in your loan application:

All businesses:

Latest 6 months business bank statement with a cutoff date being 10th of the month. For example, if an application is made on the 10th of the month onwards, you will require last month’s bank statement.
An image of the front and the back of your NRIC card.
Credit Bureau report for Guarantors (30 days validity)
Latest 2 years Notice of Assessment for Guarantors

Note: if you are a sole proprietorship and do not use a business bank account, your 6 months personal bank statement is sufficient.

Do I need collateral?

No collateral is required for the loan.

What are the Fees?

Account Setup/Application - $0

Interest - starting from 1.60%/month

Processing 5% upon loan disbursement

Card Usage - $0

How long does it take to get the funds?

Depending on the financing request, you can receive funds as soon as 24 hours after submission of required documents

How do I make repayments?

Repayments shall be made to Funding Societies directly. Early repayment is also possible. In fact by repaying early, you will save on the interest.

How much can I borrow?

You can borrow from $3000 to $100,000 depending on the stage of your business.

What is the date of repayment for the loan?

The loan is to be repaid in fixed monthly instalments determined by the tenure of your loan. Loan tenures are up to 12 months.

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Does Friz have a lending license?

Friz partners with Funding Societies, which operates under the FS Capital licence to make this loan product available to users. FS Capital is the licensed entity taking on the credit risk and making the lending decisions to Friz customers.

When do I get paid?

Once your client confirms that they have contracted you, receive the payment immediately

Where will my payouts go?

When you issue the invoice choose to get paid on the Friz debit card or directly transferred to your bank account.

Why not just use other platforms like PayPal?

PayPal does not help you with instant collections - so you bear the risk of invoices unpaid, late payments and what is worse clients disappearing entirely.

Does my client need to create a Friz account?

Your client does not need to change their payment processes in any way. They just need to confirm that they have contacted you for the job when we send them an email.

What are the currencies I can use to send money ?

Americas - USD, CAD, ARS, BRL, CLP, COP, MXN, PEN, UYU

Asia - SGD, IDR, HKD, MYR, INR, PHP, CNY, SAR, UAE, NTD, JPY, KWT, OMR, BHD, LKR, NPR, BDT, THB, VND, KRW, TRY, JOR

Africa - GHS, KES, TZS, NGN, EGP, MAD

Europe - GBP, DKK, EUR, NOR, CHF, SEK

Oceania - AUD, NZD

Are there any fees or minimum balance that come with my account?

Your Friz account comes with zero maintenance charges and no requirements of keeping a minimum balance.

How to open a Friz multi-currency account ?

You can open the account completely online. Signing up and submitting your KYC documents will only take about 5 minutes. Account approval can take up to 24 hours.

Are there limits on how much money I can transfer or receive?

You cannot transfer more than you have in your balance. Some periodic limits may also apply. If any limit is exceeded, we’ll let you know before completing the request. There are no limits for receiving.

How long does it take for funds to be transferred ?

From the moment the request is submitted, funds are generally transferred instantly or in less than 6 hours.

Can I hold multiple currencies in my account?

Yes, You can receive and hold money in USD, SGD, EUR, CAD, GBP and AUD.You can also convert money between any of the currencies and send 40+ currencies to any local or international bank and supported wallets.

What is a multi-currency account and how does it work?

You can receive, hold, convert and send money using a Friz multi-currency account. You can receive money in 6 currencies (USD,SGD,EUR,CAD,GBP & AUD) and also get bank account details for each of these currencies to receive money like a local. You can convert them at the Reuters mid-market exchange rate whenever you need and send money from your Friz account to any local or international bank account or supported mobile wallet whenever you like.

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Friz Business Financing for freelancers

Fees for Friz Business Financing

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Frequently asked questions