Managing money across different countries can become complicated for businesses. Receiving payments in different currencies, paying international suppliers, handling employee expenses, converting currencies, and keeping financial records organized can require several different services.
Airwallex is a financial technology platform designed to bring many of these functions together in one place. It provides businesses with multi-currency accounts, international transfers, corporate cards, payment acceptance, expense management, invoicing, and integrations with popular business software.
Airwallex is particularly interesting for e-commerce companies, startups, SaaS businesses, agencies, online businesses, and companies expanding internationally.
But how does Airwallex work? What can businesses use it for? How much does it cost, and is it a good alternative to traditional business banking?
What Is Airwallex?
Airwallex is a global financial technology platform focused on helping businesses manage money internationally.
Instead of requiring a company to maintain separate financial solutions for different countries and currencies, Airwallex provides a centralized platform for managing global business finances.
Its services include:
- Multi-currency business accounts
- Global accounts
- International transfers
- Currency conversion
- Corporate cards
- Expense management
- Online payment acceptance
- Payment links
- Invoicing
- Bill payments
- Subscription billing
- Accounting integrations
- Financial APIs
Airwallex currently says businesses can use its platform to collect funds in 20+ currencies and make transfers to more than 200 countries, depending on the service and market.
How Does Airwallex Work?
The main idea behind Airwallex is to provide businesses with a single platform for managing international financial operations.
After opening an eligible business account, companies can access different currencies, receive money, convert funds, make payments, issue cards, and manage expenses.
For example, an online business selling products internationally could receive payments in several currencies, keep those funds in the relevant currency, convert money when necessary, and use Airwallex to pay suppliers or employees in other countries.
This can reduce the need to maintain multiple traditional bank accounts around the world.
Airwallex Global Accounts
One of Airwallex’s most important features is its Global Accounts.
Eligible businesses can open local currency accounts that provide local banking details in supported markets. Airwallex says businesses can collect funds in more than 20 currencies and receive payments from more than 70 countries through its Global Accounts.
This can be especially useful for companies with customers in multiple countries.
Instead of asking an international customer to make a complicated international transfer, a business may be able to provide local account details for the customer’s currency.
Once the payment arrives, the funds become available in the company’s Airwallex wallet.
The business can then hold the money, convert it, or use it for other transactions.
Multi-Currency Wallet
Airwallex also provides a multi-currency wallet that allows businesses to manage different currencies from one platform.
This can be useful for companies that receive revenue in USD, EUR, GBP, AUD, CAD, or other supported currencies.
For example, an e-commerce company could receive EUR from European customers and USD from American customers without immediately converting everything into one currency.
Holding funds in the original currency can sometimes reduce unnecessary currency conversions.
Airwallex says its Global Accounts are designed to allow businesses to receive, hold, convert, and send different currencies through a single global account.
Currency Conversion and FX
Currency conversion is another major part of Airwallex.
Businesses operating internationally often lose money through unfavorable exchange rates or repeated currency conversions.
Airwallex provides foreign exchange services designed for businesses that need to convert currencies regularly.
Its current U.S. pricing information lists FX pricing at 0.5% above interbank rates for major currencies and 1% for other currencies, although pricing varies by market and service.
The actual cost should always be checked before completing a transaction because pricing can depend on the currency and the customer’s location.
For businesses making frequent international transactions, even relatively small differences in FX costs can have a significant impact over time.
International Transfers
Airwallex allows businesses to send money internationally to suppliers, employees, contractors, and other recipients.
The platform currently advertises local transfers to more than 120 countries and SWIFT transfers to more than 200 countries on its U.S. pricing page.
Airwallex also states that 92% of its global transfers arrive within the same day, although transfer times can vary depending on the destination, currency, payment method, and other factors.
This makes international transfers one of the core reasons businesses may consider Airwallex.
Airwallex Corporate Cards
Airwallex also provides multi-currency corporate cards.
Businesses can issue cards to employees and teams and use spending controls to manage company expenses.
For example, a company could issue cards for:
- Software subscriptions
- Advertising
- Travel
- Marketing
- Employee expenses
- Business purchases
- International spending
Airwallex says its corporate cards can support multi-currency spending and provide controls that allow businesses to limit spending at the card level.
This can be particularly useful for companies with employees working in different countries.
Expense Management
Managing employee spending can become difficult as a business grows.
Airwallex combines corporate cards with expense-management tools that allow companies to track spending and manage reimbursements.
Businesses can establish controls over how cards are used and monitor expenses through the platform.
The company also offers automated features designed to reduce manual expense processing.
For larger teams, these controls can make it easier for finance departments to understand where company money is being spent.
Online Payments
Airwallex is not only a business banking platform.
It also provides online payment acceptance tools for companies that want to accept payments from customers.
Its payment services support card payments and numerous local payment methods.
Airwallex currently lists support for 160+ local payment methods through its payment platform.
This can be particularly useful for e-commerce businesses that sell internationally.
Different markets often prefer different payment methods, and offering locally familiar options can potentially improve the checkout experience.
Payment Links
Airwallex also provides payment links that allow businesses to accept payments without necessarily building a complete custom checkout system.
This can be useful for:
- Freelancers
- Agencies
- Online businesses
- Service providers
- E-commerce businesses
- Small companies
Payment links can provide a simple way to send customers a payment page and collect money online.
Airwallex also offers integrations and APIs for businesses that need more advanced payment infrastructure.
Invoicing and Billing
Airwallex includes invoicing and billing tools for businesses.
Companies can create invoices, send them to customers, and manage payments through the same platform.
The platform also supports subscription billing and usage-based billing for eligible businesses.
This can be especially useful for SaaS companies and businesses that charge customers regularly.
Instead of using one system for invoicing and another for payments, businesses can connect these functions within the Airwallex ecosystem.
Airwallex for E-Commerce
E-commerce is one of the areas where Airwallex can be particularly useful.
An international online store may need to:
- Accept payments in different currencies
- Pay international suppliers
- Manage currency conversion
- Issue employee cards
- Track expenses
- Connect accounting software
- Receive international payments
Airwallex combines many of these services.
The platform also provides integrations with e-commerce and business platforms such as Shopify, Amazon, Xero, QuickBooks, and other services.
For a growing online store, having these integrations can reduce the amount of manual financial work required.
Airwallex for Startups
Startups operating internationally can also benefit from Airwallex.
A technology startup may have customers in several countries, employees working remotely, contractors overseas, and expenses in multiple currencies.
Instead of managing all of these transactions through traditional banks, Airwallex can provide a centralized financial platform.
The platform’s combination of business accounts, cards, payments, transfers, and integrations makes it particularly relevant to modern digital businesses.
Airwallex for Global Businesses
Airwallex is designed with international businesses in mind.
Companies expanding into new markets can use Global Accounts to collect payments, manage currencies, and make international transfers without necessarily opening a traditional bank account in every market.
Airwallex says its Global Accounts can provide local account details in multiple markets regardless of where the business is located, subject to eligibility and availability.
However, businesses should always check the specific countries and currencies available to their company because features can vary by jurisdiction.
Airwallex Fees
Airwallex uses different pricing structures depending on the country, service, and business plan.
Its current U.S. pricing page lists an Explore plan at $0 per user per month, while the Grow plan is listed at $12 per user per month plus a platform fee based on team size. Enterprise-level businesses can use customized pricing.
Transaction fees can apply separately.
For example, Airwallex’s U.S. pricing currently lists domestic card acceptance at 2.80% + $0.30, while international cards are listed at 4.30% + $0.30. Local payment methods can have a $0.30 fee plus the applicable payment-method fee.
FX and international transfer fees can also apply.
The important point is that businesses should not evaluate Airwallex based solely on its monthly plan price. The total cost depends on how the business receives money, converts currencies, makes transfers, accepts payments, and uses corporate cards.
Is Airwallex Safe?
Security is naturally an important consideration for any financial platform.
Airwallex states that it follows local regulatory requirements in the markets where it operates and that customer funds are safeguarded in accordance with applicable local regulations.
The company also states that its platform meets international security standards including PCI DSS, SOC 1, and SOC 2 compliance.
However, businesses should remember that Airwallex is a financial technology platform rather than a traditional bank in every market.
The exact legal structure, safeguarding arrangements, and protections can vary depending on the country and service being used.
Businesses should therefore review the applicable terms and regulatory information for their jurisdiction.
Advantages of Airwallex
Airwallex offers several important advantages for international businesses.
Multi-Currency Accounts
Businesses can manage multiple currencies from one platform.
Global Accounts
Eligible companies can receive money using local account details in supported markets.
International Transfers
Businesses can send payments internationally to suppliers, employees, and contractors.
Corporate Cards
Teams can receive corporate cards with spending controls.
Online Payment Acceptance
Businesses can accept cards and local payment methods from customers around the world.
Accounting Integrations
Airwallex integrates with popular accounting and business platforms.
E-Commerce Support
The platform works with popular e-commerce services and can help online stores manage international payments.
Disadvantages of Airwallex
Airwallex also has limitations.
Business Focus
Airwallex is primarily designed for businesses rather than personal users looking for a simple digital wallet.
Availability Varies
Features, currencies, payment methods, and account availability depend on the business’s country and eligibility.
Transaction Fees
While some account services can be free, businesses may pay fees for currency conversion, payment processing, international transactions, and other services.
More Complex Than a Simple Wallet
Airwallex provides many features, which can be an advantage for businesses but may feel unnecessary for a company with very simple financial needs.
Who Is Airwallex Best For?
Airwallex can be particularly useful for:
- E-commerce businesses
- SaaS companies
- Startups
- Digital agencies
- International businesses
- Online stores
- Global freelancers and service companies
- Companies with international employees
- Businesses paying overseas suppliers
- Companies accepting international payments
It may not be the best choice for someone who simply wants a personal account or occasional international money transfers.
Airwallex vs. Traditional Banks
Airwallex is different from a traditional bank.
Traditional banks typically offer a broader range of financial services, including loans, branches, personal accounts, and other conventional banking products.
Airwallex focuses more heavily on international business operations.
Its biggest advantage is the combination of multi-currency accounts, international transfers, corporate cards, payment acceptance, expense management, and financial integrations.
For an international online business, this combination can be more useful than a traditional business account alone.
Final Verdict
Airwallex is a powerful financial platform for businesses that operate internationally.
Its biggest strength is the ability to manage several aspects of global business finance from one platform. Companies can receive and hold multiple currencies, convert funds, make international transfers, issue corporate cards, accept online payments, manage expenses, create invoices, and connect their financial data with accounting software.
The platform is particularly attractive to e-commerce businesses, SaaS companies, startups, agencies, and other digital businesses that operate across borders.
However, Airwallex is not necessarily the right choice for every company. Businesses should carefully compare its transaction fees, FX costs, payment-processing charges, available currencies, and country-specific features before making a decision.
For businesses with international customers, suppliers, employees, or expenses, however, Airwallex is one of the platforms worth considering when looking for a more centralized approach to global financial management.
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