Accounting · head to head
Airwallex vs Wise Business
Airwallex
Accounting
Multi currency business accounts, international payments and card issuing from a licensed payments firm rather than a bank
- From
- Free
- Rated
- -
Wise Business
Accounting
The smart way to send and receive business payments
- From
- $29/month
- 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.; Wise Business opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
- They diverge on capability: Airwallex covers Multi currency balances, Wise Business covers Multi-currency accounts.
- Prices and features above were last checked on 30 August 2026.
Where they differ
Only the attributes on which Airwallex and Wise Business actually diverge.
| Attribute | Airwallex | Wise Business |
|---|---|---|
| Starting price | Free | $29/month |
| Pricing model | freemium | usage-based |
| Free tier | Yes | No |
| Platforms | Web | Web, Ios, Android, Api |
| Founded | Unknown | 2011 |
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 Wise Business
- Multi-currency accounts
- International transfers
- Batch payments
- API access
- Team management
- Xero
- QuickBooks
- Various
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 Wise Business
- An agency or software company paying contractors across several countries every month and losing money on bank foreign exchange spreadsnot Wise Business
- An e-commerce seller collecting on multiple marketplaces in different currencies who wants to hold rather than convert on every settlementnot Wise Business
- A startup that needs virtual cards with per subscription limits and cannot get a workable card programme from its local banknot Wise Business
Wise Business
- Holding and converting multiple currencies as a businessnot Airwallex
- Paying international suppliers and contractors at the mid market ratenot Airwallex
- Receiving payments into local currency account details in several countriesnot 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.
Wise Business
- Opening a Wise Business account in the UK carries a one off setup fee of 50 GBP
- Volume discounts on transfers start only above 20,000 GBP equivalent sent per month
Pricing, plan by plan
Airwallex
FreeNo published plan breakdown. See the Airwallex review.
Wise Business
$29/month- StandardFree
- Multi-currency account
- Real exchange rate
- Batch payments
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 Wise Business if
- You need multi-currency accounts.
- You work on Web, Ios, Android, Api.
- You also want international transfers.
Questions people ask
- Is Airwallex or Wise Business better?
- Neither clearly leads. Airwallex starts at Free and Wise Business at $29/month, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
- Which is cheaper, Airwallex or Wise Business?
- Airwallex has a free tier; the other does not. Paid plans start at Free for Airwallex and $29/month for Wise Business.
- Does Airwallex or Wise Business run on more platforms?
- Airwallex runs on Web. Wise Business runs on Web, Ios, Android, Api.
- Can I use Airwallex for free?
- Yes. Airwallex has a free tier, so you can try it without paying. Wise Business starts at $29/month.
- 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 Wise Business is typically brought in for.
- What can Airwallex do that Wise Business cannot?
- Airwallex covers Multi currency balances, Local receiving accounts, Foreign exchange conversion, International payouts. Wise Business covers Multi-currency accounts, International transfers, Batch payments, API access.
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.
Wise Business: How fast are international transfers with Wise Business?
Wise Business offers fast global payments with 70% arriving in 20 seconds and 95% arriving in under 24 hours. You can also pay up to 1,000 contacts in a single batch transfer.
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.
Wise Business: Does Wise Business offer volume discounts?
Yes, volume discounts are available on monthly transfers over 20,000 GBP or equivalent.
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.
Wise Business: How does Wise Business keep funds secure?
Wise customers move over AED60 billion monthly with systems built to keep funds safe. The company runs over 7 million daily fraud checks (80 per second), keeps funds diversified with secure financial institutions, and offers 24/7 customer support.
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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