Accounting · head to head
Airwallex vs Microsoft Excel
Airwallex
Accounting
Multi currency business accounts, international payments and card issuing from a licensed payments firm rather than a bank
- From
- Free
- Rated
- -
Microsoft Excel
Accounting
Spreadsheet software for data analysis and visualization
- 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.; Microsoft Excel free tier limited to 5 GB cloud storage and web-only access
- They diverge on capability: Airwallex covers Multi currency balances, Microsoft Excel covers Advanced formulas.
- Prices and features above were last checked on 30 August 2026.
Where they differ
Only the attributes on which Airwallex and Microsoft Excel actually diverge.
| Attribute | Airwallex | Microsoft Excel |
|---|---|---|
| Platforms | Web | Windows, Macos, Web, Ios, Android |
| Founded | Unknown | 1975 |
Identical on both: starting price (Free), pricing model (freemium), 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
- Expense management
- Bill pay
- Payments gateway
Only in Microsoft Excel
- Advanced formulas
- Pivot tables
- Data visualization
- Charts and graphs
- Conditional formatting
- Data analysis tools
- Macro automation
- Collaboration features
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 Microsoft Excel
- An agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreadsnot Microsoft Excel
- An e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlementnot Microsoft Excel
- A startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local banknot Microsoft Excel
Microsoft Excel
- Financial modelingnot Airwallex
- Data analysisnot Airwallex
- Budget planningnot Airwallex
- Reportingnot Airwallex
- Business intelligencenot Airwallex
- Statistical analysisnot 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.
Microsoft Excel
- Free tier limited to 5 GB cloud storage and web-only access
- Paid plans have per-user costs increasing significantly with more users
- AI features like Copilot limited or unavailable on lower-tier plans
Pricing, plan by plan
Airwallex
FreeNo published plan breakdown. See the Airwallex review.
Microsoft Excel
Free- Microsoft Excel (Free)Free
- Excel for the web
- Real-time collaboration
- 5 GB cloud storage
- Microsoft 365 Personal$9.99/month
- Desktop Excel app
- 1 TB cloud storage
- Single user on up to 5 devices
- Microsoft 365 Family$12.99/month
- 1-6 users (AI features for subscription owner)
- Up to 6 TB cloud storage (1 TB per person)
- Each user up to 5 devices
- Microsoft 365 Premium$19.99/month
- 1-6 users
- Extensive Copilot feature access
- Exclusive advanced AI capabilities
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 Microsoft Excel if
- You need advanced formulas.
- You want to start without paying.
- You work on Windows, Macos, Web, Ios, Android.
- You also want pivot tables.
Questions people ask
- Is Airwallex or Microsoft Excel better?
- Neither clearly leads. Airwallex starts at Free and Microsoft Excel at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Airwallex or Microsoft Excel?
- Airwallex starts at Free and Microsoft Excel at Free.
- Does Airwallex or Microsoft Excel run on more platforms?
- Airwallex runs on Web. Microsoft Excel runs on Windows, Macos, 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 Microsoft Excel is typically brought in for.
- What can Airwallex do that Microsoft Excel cannot?
- Airwallex covers Multi currency balances, Local receiving accounts, Foreign exchange conversion, International payouts. Microsoft Excel covers Advanced formulas, Pivot tables, Data visualization, Charts and graphs.
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.
Microsoft Excel: How much does Microsoft Excel cost?
Microsoft Excel is free as a web app with 5 GB storage. Paid options include Microsoft 365 Personal at $9.99/month for desktop apps and 1 TB storage, Family at $12.99/month for 1-6 users with 6 TB total storage, and Premium at $19.99/month with extended Copilot access.
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.
Microsoft Excel: Is there a free version of Excel?
Yes, Excel for the web is free and includes sharing, real-time collaboration, and 5 GB cloud storage accessible on web, iOS, and Android without subscription.
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.
Microsoft Excel: What is the difference between Microsoft 365 Family and Premium tiers?
Family tier at $12.99/month supports 1-6 users with 6 TB total storage and standard features. Premium tier at $19.99/month allows extensive Copilot feature access and exclusive advanced AI capabilities including image creation and audio generation.
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.
Related pages
More on Microsoft Excel
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