Accounting · head to head
Airwallex vs Brex
Airwallex
Accounting
Multi currency business accounts, international payments and card issuing from a licensed payments firm rather than a bank
- From
- Free
- Rated
- -
The short version
- Each has a real cost: Airwallex airwallex is a licensed payments firm rather than a bank, so balances sit in safeguarding accounts at partner banks and are not covered by deposit guarantee schemes, which means a treasury policy that requires insured deposits cannot hold operating cash there.; Brex the free Essentials tier is limited to two legal entities
- They diverge on capability: Airwallex covers Multi currency balances, Brex covers Corporate cards.
- Prices and features above were last checked on 30 August 2026.
Where they differ
Only the attributes on which Airwallex and Brex actually diverge.
Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Accounting).
What each one covers
Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.
Only in Airwallex
- Multi currency balances
- Local receiving accounts
- Foreign exchange conversion
- International payouts
- Card issuing
- Payments gateway
- Accounting integrations
- Batch payouts
Only in Brex
- Corporate cards
- Business accounts
- Travel
- QuickBooks
- NetSuite
- Xero
- SOC 2
- PCI DSS
Both cover
- Expense management
- Bill pay
What people use each for
The jobs each tool is most often brought in to do.
Airwallex
- An exporter invoicing customers in United States dollars and euros who wants to be paid into local details rather than receive wires with correspondent deductionsnot Brex
- An agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreadsnot Brex
- An e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlementnot Brex
- A startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local banknot Brex
Brex
- Corporate cards with spend controls for startupsnot Airwallex
- Expense management and reimbursementsnot Airwallex
- Travel booking inside the spend platformnot Airwallex
- Bill pay and accounting system syncnot Airwallex
- Multi-entity spend management on the paid tiersnot Airwallex
Where each one falls short
Documented limitations, not opinions. Every one is a constraint you would hit in normal use.
Airwallex
- Airwallex is a licensed payments firm rather than a bank, so balances sit in safeguarding accounts at partner banks and are not covered by deposit guarantee schemes, which means a treasury policy that requires insured deposits cannot hold operating cash there.
- Available currencies, local account details, card programmes and product features differ by the entity you contract with, so a feature demonstrated to a customer in Australia or Singapore may simply not exist for the same company registered in another country.
- Onboarding is subject to compliance review and whole categories of business are declined or later offboarded, and because the account may hold operating cash, a compliance freeze during a review is a business interruption rather than an inconvenience.
- Foreign exchange is quoted as interbank plus a markup, which is cheaper than a high street bank but is still a spread that widens on less liquid pairs and on smaller amounts, so the saving assumed in the business case should be checked against the pairs you actually trade.
- Support is largely ticket and chat based with account management reserved for larger customers, so when a payment is stuck the resolution path is a queue rather than a named person, which is a poor fit for time critical settlement.
Brex
- The free Essentials tier is limited to two legal entities
- Premium is $12 per user per month, so cost scales with headcount using the card
- Enterprise and Smart Card pricing is not published
- Eligibility criteria are not stated anywhere on the pricing page, which matters for a product that extends credit
Pricing, plan by plan
Airwallex
FreeNo published plan breakdown. See the Airwallex review.
Brex
Free- EssentialsFree
- Global card acceptance
- Accounting integrations
- Real-time reporting
- Premium$12/month
- per user
- Custom expense policies
- Dynamic approval chains
- Enterprise$null/month
- Custom pricing
Which should you pick?
Choose Airwallex if
- You need multi currency balances.
- You want to start without paying.
- You also want local receiving accounts.
Choose Brex if
- You need corporate cards.
- You want to start without paying.
- You work on Web, Ios, Android.
- You also want business accounts.
Questions people ask
- Is Airwallex or Brex better?
- Neither clearly leads. Airwallex starts at Free and Brex at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Airwallex or Brex?
- Airwallex starts at Free and Brex at Free.
- Does Airwallex or Brex run on more platforms?
- Airwallex runs on Web. Brex runs on Web, Ios, Android.
- Can I use Airwallex for free?
- Both have a free tier, so you can try either at no cost before committing.
- What is Airwallex best used for?
- Airwallex is most often used for an exporter invoicing customers in united states dollars and euros who wants to be paid into local details rather than receive wires with correspondent deductions, an agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreads, an e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlement, a startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local bank. Of those, an exporter invoicing customers in united states dollars and euros who wants to be paid into local details rather than receive wires with correspondent deductions and an agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreads are not what Brex is typically brought in for.
- What can Airwallex do that Brex cannot?
- Airwallex covers Multi currency balances, Local receiving accounts, Foreign exchange conversion, International payouts. Brex covers Corporate cards, Business accounts, Travel, QuickBooks. Both handle Expense management, Bill pay.
Answered from the vendors’ own pages
Airwallex: Is Airwallex a bank?
No. It holds payment institution, electronic money or equivalent licences in the markets it serves. Funds are safeguarded at partner banks rather than being deposits, and deposit insurance schemes do not apply.
Brex: Does Brex have a free plan?
Yes. Brex Essentials is free for startups and growing companies and includes global card acceptance, AI-powered rules, accounting integrations, real-time reporting, and bill pay.
SourceAirwallex: Can it replace my business bank account?
For many operating flows it can, but consider what you lose: no deposit protection, no lending relationship, no cash or cheque handling, and some counterparties and government bodies still expect a conventional bank account. Most users run it alongside a bank rather than instead of one.
Brex: What is Brex Premium pricing?
Brex Premium costs $12 per user per month and is designed for mid-sized companies. It adds custom expense policies, dynamic approval chains, AI compliance auditing, multi-entity support, and live budgets.
SourceAirwallex: Which countries can open an account?
It serves entities registered in a defined list of markets across Asia Pacific, Europe, the United Kingdom, the Middle East and North America, and the list changes. Check for your specific country of incorporation, because the answer determines both eligibility and feature set.
Brex: What countries accept Brex cards?
Brex cards are accepted in 210+ countries. The Smart Card plan offers local-currency cards in 50+ countries for companies focused on procurement simplification and international payments.
SourceAirwallex: Does it connect to my accounting software?
It integrates with the mainstream cloud ledgers so transactions feed through rather than being imported by hand. Confirm the integration covers all the currencies you hold, since multi currency handling in the ledger is a separate question.
Airwallex: How does the foreign exchange rate compare with a bank?
Materially better than a typical business bank's retail rate on major pairs, because it is quoted as interbank plus a stated markup. The gap narrows on thin currency pairs and small amounts, so test with your real volumes.
Airwallex: Are the cards accepted everywhere?
They are issued on the major networks and behave like ordinary company cards for most spend. Some merchants, particularly for deposits and car hire, treat prepaid style issuance differently, so do not assume parity with a bank credit card.
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