If you're running a global business, eCommerce store, SaaS company, or even a startup with remote teams, chances are you're already exploring alternatives to traditional banking.
One of the most powerful solutions available today is Airwallex. Known for its multi-currency accounts, low FX fees, borderless cards, and fast global transfers, Airwallex has quickly positioned itself as a go-to platform for modern, borderless businesses.
But is Airwallex right for your business?
In this in-depth review, we explore Airwallex pricing, key features, how it compares to Stripe and Wise, and how to set up an Airwallex account for your business.
We'll also look at their newest product, Airwallex Yield, which lets you earn interest on idle balances. Let's dive in.
What is Airwallex?
Airwallex is a financial technology platform that offers modern business banking services with a global edge. It's not a traditional bank but provides everything you need to run a global business:
-
Multi-currency business accounts
-
Borderless virtual and physical cards
-
Competitive FX rates
-
International money transfers
-
Payment gateways
-
Business expense management
-
Yield-generating accounts (in USD)
Founded in 2015 and backed by investors like Tencent and Sequoia Capital, Airwallex serves businesses in over 130 countries.
It's particularly popular among eCommerce sellers, SaaS startups, agencies, and enterprises that operate in multiple currencies.
Airwallex Pricing & Fee Structure
One of the top reasons businesses choose Airwallex is its transparent pricing and low fees, especially compared to traditional banks and services like PayPal.
Account Setup: Free
There are no setup fees or monthly account fees for standard business accounts.
Currency Exchange (FX): Mid-market + 0.3%–0.6%
Airwallex offers extremely competitive FX rates, typically better than PayPal, Wise, or traditional banks.
Transfers:
-
Domestic transfers: Free (in many countries)
-
International transfers: $10 or equivalent per SWIFT transfer (may vary)
Virtual and Physical Cards:
-
Virtual cards: Free to create
-
Physical cards: May involve a small issuance fee (country-dependent)
Other Costs:
-
No hidden fees
-
No minimum balances required
Key Features of Airwallex
1. Multi-Currency Global Business Accounts
Receive and hold funds in over 20 currencies, including USD, GBP, EUR, AUD, SGD, and more. Each currency comes with a dedicated local account number (e.g., US ACH, EU IBAN), making it easy to get paid like a local.
2. Borderless Cards
Issue multi-currency virtual and physical cards for team members to manage expenses globally. Set spending limits, track usage in real time, and simplify reconciliation.
3. International Transfers
Send payments to over 150 countries with low FX fees and fast delivery. Airwallex supports SWIFT, local payment rails, and bulk payment solutions.
4. Business Expense Management
Track employee spending, control budgets, and reconcile expenses with real-time data and integrations with accounting software like Xero and QuickBooks.
5. Payment Gateway Integrations
Accept payments online with direct integrations for Shopify, WooCommerce, Magento, and more. Airwallex acts as a powerful payment gateway that supports global currencies.
6. Airwallex Yield
Earn up to 4.2% APY on idle USD balances by depositing into Airwallex Yield. This is ideal for startups and businesses that want to grow their unused cash.
Airwallex vs Competitors
Airwallex vs Stripe
| Feature | Airwallex | Stripe |
|---|---|---|
| Global accounts | Yes | No |
| FX fees | 0.3%–0.6% | 1% or more |
| Expense cards | Yes | No (via Stripe Issuing, limited) |
| Multi-currency wallets | Yes | Limited |
| Interest Yield | Yes | No |
Airwallex is more comprehensive for global banking and FX management. Stripe is better for developers and subscription billing.
Airwallex vs Wise (formerly TransferWise)
| Feature | Airwallex | Wise |
|---|---|---|
| Business accounts | Yes | Yes |
| Local account numbers | Yes (more currencies) | Yes |
| FX fees | Lower (0.3%–0.6%) | Around 0.41%–1% |
| Business cards | Yes | Yes |
| Yield generation | Yes (Airwallex Yield) | No |
Wise is great for freelancers and smaller businesses; Airwallex scales better for growing or global businesses.
How to Set Up an Airwallex Account (Step-by-Step)
-
Visit airwallex.com and click "Get Started."
-
Fill in your business details – name, country, entity type
-
Upload documentation – business registration, ID verification
-
Wait for approval – usually within 1–3 days
-
Access your dashboard – start receiving, sending, and managing money
Use Cases: Who is Airwallex Best For?
-
eCommerce businesses receiving international payments via Shopify or WooCommerce
-
Startups with global team members needing salary disbursements
-
Agencies and freelancers working with clients abroad
-
Enterprises wanting lower FX costs and better control of expenses
-
Remote teams needing borderless cards for spend management
Airwallex Integrations
Airwallex integrates with:
-
Shopify
-
WooCommerce
-
Xero
-
QuickBooks
-
NetSuite
-
Amazon Seller Central
-
Zapier (for custom workflows)
Security & Compliance
Airwallex is regulated in multiple jurisdictions:
-
Australia (ASIC)
-
United Kingdom (FCA)
-
United States (FinCEN)
-
Singapore (MAS)
-
Hong Kong (HKMA)
They use industry-standard encryption, 2FA, and strict fraud controls to protect your money and data.
Pros and Cons
Pros:
-
Multi-currency accounts with local bank details
-
Competitive FX rates
-
No setup or monthly fees
-
Free virtual cards for teams
-
Yield product to earn interest
-
Easy integrations
Cons:
-
Not a traditional bank (no cash deposits)
-
SWIFT transfers can carry third-party fees
-
Limited personal finance tools (business-focused)
Final Verdict: Is Airwallex Worth It?
If you operate across borders, pay remote teams, or receive money in multiple currencies, Airwallex is a game-changer. It's all-in-one platform can replace costly bank accounts, streamline payments, and help you save thousands annually on fees.
From SMEs to large enterprises, Airwallex helps you grow globally without borders.
Frequently Asked Questions (FAQs)
What countries does Airwallex support?
Airwallex supports businesses in over 130 countries and offers local account numbers in the US, UK, EU, Australia, China, and more.
Is Airwallex safe?
Yes. Airwallex is regulated in multiple countries and uses bank-level security to protect your funds and data.
Does Airwallex offer credit or loans?
As of now, Airwallex does not offer business loans or credit lines. It focuses on payments, cards, FX, and money management.
Can I use Airwallex for personal accounts?
No. Airwallex is designed for registered businesses only.
How much can I earn with Airwallex Yield?
Interest rates vary, but businesses can currently earn up to 4.2% APY on USD balances.
Want to experience Airwallex? Create your free business account today!