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Accounting · head to head

Airwallex vs Invoice2go

Airwallex logo

Airwallex

Accounting

Multi currency business accounts, international payments and card issuing from a licensed payments firm rather than a bank

From
Free
Rated
-
Full reviewWebsite
Invoice2go logo

Invoice2go

Accounting

Mobile-first invoicing app for small businesses and freelancers

From
On request
Rated
-
Full reviewWebsite

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.; Invoice2go starter plan caps invoices at just 30 per year, forcing an upgrade for most active businesses.
  • They diverge on capability: Airwallex covers Multi currency balances, Invoice2go covers Invoice creation and customization.
  • Prices and features above were last checked on 30 August 2026.

Where they differ

Only the attributes on which Airwallex and Invoice2go actually diverge.

Attributes where Airwallex and Invoice2go differ
AttributeAirwallexInvoice2go
Starting priceFreeOn request
Pricing modelfreemiumsubscription
Free tierYesNo
PlatformsWebweb, ios, android

Identical on both: 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 Invoice2go

  • Invoice creation and customization
  • Estimates and projects
  • In-app payments
  • Automated reminders
  • Team member access

Both cover

  • Accounting integrations

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 Invoice2go
  • An agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreadsnot Invoice2go
  • An e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlementnot Invoice2go
  • A startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local banknot Invoice2go

Invoice2go

  • Freelancers invoicing clients from a mobile devicenot Airwallex
  • Small service businesses tracking estimates and projectsnot Airwallex
  • Businesses wanting integrated card and ACH paymentsnot Airwallex
  • Businesses syncing invoices with QuickBooks or Xeronot 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.

Invoice2go

  • Starter plan caps invoices at just 30 per year, forcing an upgrade for most active businesses.
  • Card processing fees are higher than some dedicated payment processors.
  • Accounting integrations are limited to QuickBooks and Xero, excluding other platforms.
  • Premium plan requires roughly $100k+/year revenue to be cost-effective, per its own positioning.

Pricing, plan by plan

Airwallex

Free

No published plan breakdown. See the Airwallex review.

Invoice2go

On request
  • Starter$undefined/month
    • 30 invoices/year
    • 3.5% card payment fee
    • Free ACH bank transfers
  • Professional$undefined/month
    • 100 invoices/year
    • 3% card payment fee
    • QuickBooks/Xero integration
  • Premium$undefined/month
    • Unlimited invoices
    • 2.9% card payment fee
    • Recurring invoices

Which should you pick?

Choose Airwallex if

  • You need multi currency balances.
  • You want to start without paying.
  • You also want local receiving accounts.
Airwallex review

Choose Invoice2go if

  • You need invoice creation and customization.
  • You work on web, ios, android.
  • You also want estimates and projects.
Invoice2go review

Questions people ask

Is Airwallex or Invoice2go better?
Neither clearly leads. Airwallex starts at Free and Invoice2go at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Airwallex or Invoice2go?
Airwallex has a free tier; the other does not. Paid plans start at Free for Airwallex and On request for Invoice2go.
Does Airwallex or Invoice2go run on more platforms?
Airwallex runs on Web. Invoice2go runs on web, ios, android.
Can I use Airwallex for free?
Yes. Airwallex has a free tier, so you can try it without paying. Invoice2go starts at On request.
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 Invoice2go is typically brought in for.
What can Airwallex do that Invoice2go cannot?
Airwallex covers Multi currency balances, Local receiving accounts, Foreign exchange conversion, International payouts. Invoice2go covers Invoice creation and customization, Estimates and projects, In-app payments, Automated reminders. Both handle Accounting integrations.

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.

Invoice2go: What does Invoice2go cost?

Invoice2go offers three tiers - Starter (30 invoices/year), Professional (100 invoices/year), and Premium (unlimited invoices) - distinguished by invoice volume and card processing fees from 3.5% down to 2.9%.

Source
Airwallex: 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.

Invoice2go: Is there a free trial?

Yes, Invoice2go offers a 30-day free trial that requires a credit card but includes a 100% money-back guarantee if canceled within 30 days.

Source
Airwallex: 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.

Invoice2go: Does Invoice2go integrate with accounting software?

Yes, the Professional and Premium plans include integration with QuickBooks and Xero.

Source
Airwallex: 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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