Airwallex review 2025: Features, fees and alternatives
Last updated: 6 Jun 2025
We review the features and fees of the Airwallex business account and see how it compares to WorldFirst
Key takeaways
- Airwallex offers multi-currency accounts, payment links, debit cards and expense management tools for businesses
- Airwallex accounts start at AUD 29 per month
- WorldFirst is an Airwallex alternative, providing multi-currency support in over 15 currencies with no account opening fees. It also offers multi-currency debit cards, forward contracts and seamless integration with Xero
Airwallex is a digital payments platform that allows global businesses to streamline international payments and collections through its range of financial products and API.
This detailed review looks at everything you should know about the Airwallex business account, including its features and fees.
We also compare Airwallex with its alternative, WorldFirst, so you have all the information you need to choose the right foreign currency account for your business requirements.
Table of Contents
What is Airwallex?
Airwallex is a financial platform that offers solutions to simplify global payments and financial operations of global businesses.
Founded in 2015, Airwallex has offices in over 19 countries. More than 150,000 registered businesses use Airwallex’s payment services and APIs [1].
The platform offers multi-currency accounts that allow businesses to hold, manage and convert funds in various currencies. Multi-currency virtual and physical debit cards are also available.
Quick look: Pros and cons of Airwallex business account
| Pros | Cons |
|---|---|
Airwallex fees: The breakdown
| Airwallex fees [2] | |
|---|---|
| Monthly account fee | AUD 29–AUD 499, depending on the plan (waived if you deposit at least AUD 5k per month or hold a minimum balance of AUD 10k) |
| Access to local currency accounts | Free |
| Receiving payments | Free |
| Sending payments to Airwallex accounts | Free |
| Sending payments to other accounts | Free for domestic payments International payments attract a transfer and currency conversion fee For SWIFT payments, charges are AUD 15–AUD 30 (SHA and OUR) |
| Holding funds in multiple currencies | Airwallex does not specify any fee |
| Currency conversion | 0.5% for major currencies and 1% for other currencies |
| Multi-currency card | ✅Number of cards depends on the monthly plan. The starter plan of AUD 29 comes with 2 free employee cards and 10 company cards |
| Forward contracts | ❌ |
| Integration with accounting tools | ✅ |
*Airwallex pricing checked in May 2025
Features of Airwallex
Multi-currency account
Airwallex allows businesses to set up local currency accounts with bank details for 20+ currencies, including USD, GBP, EUR, AUD, CNY, HKD and CAD [3].
You can receive payments from customers worldwide in their preferred currency and use those funds to pay suppliers or business partners, avoiding unnecessary conversion fees. Or, hold funds in foreign currencies and convert them when exchange rates are favourable.
Payment links
Airwallex allows businesses to receive payments through shareable payment links. Sellers in Hong Kong, Australia, Singapore, the UK and EU can use payment links to collect funds from customers worldwide [4].
Multiple payment methods are available, including Visa, Mastercard, American Express, Apple Pay and Google Pay, though some only support limited currencies.
There are no charges for using payment links. You’re charged a transaction fee based on the payment method selected by the customer. Airwallex charges different fees for different payment methods.
Apart from the links, users can also collect payments through plugins and checkout pages.
Business debit cardks
Airwallex provides virtual and physical cards that support multiple currencies. You can issue company and employee cards and track all the purchases through your main Airwallex account.
There’s no foreign exchange fees when paying in 10 supported currencies if you already have funds in the purchase currency [6]. For other currencies, foreign transfer fee and currency conversion fee are charged.
The number of free cards available depends on the pricing plan. Additional cards cost AUD 15 per user per month [2].
Airwallex doesn’t offer any cashback to Australian or NZ customers. To learn more, check out our detailed Airwallex card review.
Take a look at the Airwallex business card fees.
| Airwallex fees [2] | |
|---|---|
| Monthly account fee | AUD 29–AUD 499, depending on the plan (waived if you deposit at least AUD 5k per month or hold a minimum balance of AUD 10k) |
| Access to local currency accounts | Free |
| Receiving payments | Free |
| Sending payments to Airwallex accounts | Free |
| Sending payments to other accounts | Free for domestic payments International payments attract a transfer and currency conversion fee For SWIFT payments, charges are AUD 15–AUD 30 (SHA and OUR) |
| Holding funds in multiple currencies | Airwallex does not specify any fee |
| Currency conversion | 0.5% for major currencies and 1% for other currencies |
| Multi-currency card | ✅Number of cards depends on the monthly plan. The starter plan of AUD 29 comes with 2 free employee cards and 10 company cards |
| Forward contracts | ❌ |
| Integration with accounting tools | ✅ |
Payment APIs
The payment APIs allow businesses to white label Airwallex’s online payment processing solution and provide customers with a more unified payment experience [7]. You can take full control of the checkout process and automate different financial operations, including payments and collections.
However, using APIs requires developer support and business users may not be able to manage them on their own.
Marketplaces
Airwallex customers can use the provided local currency account details to collect payments from online marketplaces like Amazon and eBay. The collected funds can be held in the Airwallex account to make further payments or the funds can also be withdrawn back to the bank account.
- Open 15+ local currency accounts and get paid like a local
- Pay suppliers, partners and staff worldwide in 100+ currencies
- Collect payments for free from 130+ marketplaces and payment gateways, including Amazon, Etsy, PayPal and Shopify
- Take control of spending with the World Card, a business expense card that saves you more with 1% cashback. Learn more
- Save with competitive exchange rates on currency conversions and transfers
- Lock in exchange rates for up to 24 months for cash flow certainty
How to open an Airwallex account
To open a business account with Airwallex in Australia, you’ll need to provide the following documents [8]:
- The personal ID of each Ultimate Beneficial Owner (UBO) (if applicable)
- Authorisation letter (if applicable)
- Partnership agreement (if applicable)
- New business supporting documents (if applicable)
- Personal ID (in case of sole traders)
Once the documents are ready, follow the steps below to open an account with Airwallex:
- Sign up on Airwallex’s website with your email address
- Add your personal information and business details
- Upload the required documents and submit them for verification
- Verification usually takes 1–3 working days
The Airwallex alternative for global businesses: WorldFirst
WorldFirst helps global businesses make fast, secure and reliable international transactions. With a World Account, companies manage global finances seamlessly while protecting their profit margins.
Multi-currency account with zero setup fees
With WorldFirst, you can open local currency accounts in 15+ currencies, including GBP, USD, EUR, CAD, AUD, NZD and CNH – without paying any setup or monthly fees. These accounts let you hold and manage multiple currencies in one place, giving you more control over when and how you convert your funds.
Mastercard-powered debit card
World Card is a multi-currency business debit card that works in 150+ currencies. Spend globally, track in real time and save on foreign exchange costs. You pay zero foreign exchange fees when spending in 15 major currencies as long as you have sufficient balances in those currencies in your account. Whether you’re paying for advertising, travel, or software subscriptions, the card helps you manage global business expenses with ease.
Global payments and collections
Send international payments to 200+ countries and regions in over 100 currencies. If you need to pay Chinese suppliers on 1688.com, you can do that too, directly from your account. E-commerce businesses can collect payments from 130+ global marketplaces and payment gateways and there are no fees for receiving funds.
Competitive exchange rates
WorldFirst offers highly competitive exchange rates to help you keep more of what you earn (capped at 0.6% on major currencies). You can convert funds instantly or wait until the exchange rate is more favourable, with no fees for holding funds in your World Account.
Forward contracts and risk management
To manage currency risk, WorldFirst provides forward contracts that let you lock in exchange rates for up to 24 months. You can also set up firm orders to automatically convert currencies when your target exchange rate is reached.
Free transfers between World Accounts
Transfers between World Accounts are instant and free, making it easier to collaborate across global teams or pay international partners. There’s no minimum balance requirement and with Xero integration, you can streamline reconciliation and reduce manual admin tasks.
If you are still unsure about WorldFirst vs Airwallex, check out our comparison of fees.
| Airwallex [2] | WorldFirst | |
|---|---|---|
| Multi-currency account | AUD 29–AUD 499, depending on the plan (waived if you deposit at least AUD 5k per month or hold a minimum balance of AUD 10k) | Free |
| Access to local currency accounts | Free | Free |
| Receiving funds | Free | Free |
| Sending payments to users in the same network | Instant, regular fees applies | Free and instant payments |
| Sending payments to other accounts | Free for domestic payments For international payments, 0.5% above interbank rates for major currencies, 1% for all others For SWIFT payments, charges are AUD 15–AUD 30 |
|
| Holding funds in multiple currencies | Airwallex does not specify any fee | Free |
| Currency conversion | 0.5% for major currencies and 1% for other currencies | |
| Multi-currency card | ✅The number of cards depends on the monthly plan. The starter plan of AUD 29 comes with 2 free employee cards and 10 company cards | ✅ Up to 20 virtual cards available at no additional cost (More can be added upon request) |
| Forward contracts | ❌ | ✅ |
| Integration with accounting tools | ✅ | ✅ |
*Fees checked in May 2025
Sources
- https://www.airwallex.com/au/
- https://www.airwallex.com/au/pricing
- https://www.airwallex.com/business-account
- https://www.airwallex.com/docs/payments__payment-links-overview
- https://www.airwallex.com/spend-management/cards
- https://help.airwallex.com/hc/en-gb/articles/900003301566-What-is-the-automatic-conversions-for-cards
- https://www.airwallex.com/au/platform-api-and-embedded-finance
- https://help.airwallex.com/hc/en-gb/articles/900001756866-Verifying-your-business-in-Australia-and-New-Zealand
Disclaimer: The information contained is general only and largely our views. Before acting on the information you should consider whether it is appropriate for you, in light of your objectives, financial situation or needs. Although information has been obtained from and is based upon multiple sources the author believes to be reliable, we do not guarantee its accuracy and it may be incomplete or condensed. All opinions, estimates, mentioned products/services and referenced material constitute the author’s own judgement as of the date of the briefing and are subject to change without notice. WorldFirst shall not be responsible for any losses or damages arising from your reliance of such information.
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