Accounting · head to head
Airwallex vs Hnry
Airwallex
Accounting
Multi currency business accounts, international payments and card issuing from a licensed payments firm rather than a bank
- From
- Free
- Rated
- -
Hnry
Accounting
Accounting for sole traders and the self-employed
- From
- 1/per $100 income
- Rated
- -
The short version
- Only Airwallex has a free tier, so it costs nothing to try first.
- 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.; Hnry service limited to self-employed sole traders in New Zealand only
- Prices and features above were last checked on 30 August 2026.
Where they differ
Only the attributes on which Airwallex and Hnry actually diverge.
Identical on both: platforms (Web), 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
- Expense management
- Bill pay
- Payments gateway
Only in Hnry
Nothing recorded that Airwallex does not also cover.
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 Hnry
- An agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreadsnot Hnry
- An e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlementnot Hnry
- A startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local banknot Hnry
Hnry
- Calculating quarterly tax without manual bookkeepingnot Airwallex
- Logging expenses via photo instantlynot Airwallex
- Sending unlimited invoices with auto-follow-upnot Airwallex
- Automatically withholding income taxes year-roundnot 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.
Hnry
- Service limited to self-employed sole traders in New Zealand only
- 1% + GST fee with $1,500 annual maximum cap
- Minimum $0.50 fee per transaction for payments under $50
Pricing, plan by plan
Airwallex
FreeNo published plan breakdown. See the Airwallex review.
Hnry
1/per $100 incomeNo published plan breakdown. See the Hnry review.
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 Hnry if
Nothing in the data separates Hnry from Airwallex on the points above - pick on price and on how each one feels to use.
Questions people ask
- Is Airwallex or Hnry better?
- Neither clearly leads. Airwallex starts at Free and Hnry at 1/per $100 income, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Airwallex or Hnry?
- Airwallex has a free tier; the other does not. Paid plans start at Free for Airwallex and 1/per $100 income for Hnry.
- Does Airwallex or Hnry run on more platforms?
- Both run on Web, so platform support will not decide this one for you.
- Can I use Airwallex for free?
- Yes. Airwallex has a free tier, so you can try it without paying. Hnry starts at 1/per $100 income.
- 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 Hnry is typically brought in for.
- What can Airwallex do that Hnry cannot?
- Airwallex covers Multi currency balances, Local receiving accounts, Foreign exchange conversion, International payouts.
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.
Hnry: How much does Hnry charge?
Hnry charges 1% plus GST of independent income paid into your Hnry Bank Account, with a maximum annual fee of $1,500. Minimum fee is $0.50 per payment for transactions under $50.
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.
Hnry: Are there joining fees for Hnry?
No, Hnry has no joining fees, upfront payments, or credit card required to sign up.
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.
Hnry: Is the Hnry fee tax deductible?
Yes, Hnry automatically claims its fees as a business expense on your behalf, making them tax-deductible.
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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