Weel vs Airwallex: Features and pricing side-by-side comparison

Key takeaways

• Weel focuses specifically on spend management for Australian and New Zealand businesses. Airwallex gives you a complete financial operations platform that brings together spend management, multi-currency Global Accounts, international payments, and payment acceptance tools, all in one place.

• Airwallex's Grow bundle (A$99/month) provides more features than Weel's similarly priced Basic plan (A$135/month), including international transfers at no additional transaction fee compared to Weel's 0.95% international fee.

• Both platforms offer corporate cards, expense management, and accounting integrations. Both Airwallex and Weel offer ERP integrations including NetSuite, with Airwallex also including Sage integration and multi-layer approval flows in its base plan.

When you're comparing spend management platforms, scope is what really sets Weel and Airwallex apart. Weel specialises in spend management for Australian and New Zealand businesses. Airwallex provides a complete financial operations platform that brings together spend management, multi-currency accounts, international payments, and payment acceptance tools – all in one place. Both platforms serve growing businesses, but they take completely different approaches to solving your financial challenges.

Compare Weel with Airwallex

Weel fees explained

Account fees: Weel's starter plan 'Basic' starts at A$135/month and includes the basics: cards, reimbursements, and integrations.

The plan doesn't include rule-based approval flows, automatic categorisation, approval delegation, and will be limited to 50 expense records per month. You also won't get a dedicated Account Manager – that only comes with their most expensive bundle, 'Enterprise'.

User limits: Weel's Basic plan includes five users per month. You can add more users at A$5 per month.

Transaction fees: Here's what you'll pay:

• Local transactions: Free (Weel works in Australia and New Zealand)

• International transactions: You'll pay a 0.95% international transaction fee

• International accounts: Not available

Additional fees: Weel's Basic plan includes up to 50 expense records per month. Each additional expense record incurs an A$0.75 charge.

Airwallex fees explained

Account fees: Airwallex's 'Grow' bundle costs A$99/month and includes:

• Multi-currency Corporate Cards: Up to 50 free company cards to share team and company expenses, plus physical employee cards that can be issued globally.

• Spend management: Advanced expense management, subscription management, and bill pay tools

• Global Accounts: Multi-currency accounts with local banking details in 21 countries. Accept payments from 70+ countries and pay out to over 200 countries.

• Payment acceptance: Accept payments from customers in 130+ currencies and 160+ local payment methods, with like-for-like settlement helping keep your costs low.

• Yield: Grow your business funds by earning competitive returns in both USD and AUD.

• Integrations: Seamless connections with accounting and ERP systems including Xero and Quickbooks.

User and card limits: Airwallex's Grow bundle includes two spend users per month, and you can add more users at A$15 per month. The platform also gives you up to 50 free company cards – that's more than what you'd get with Weel's limits.

Transaction fees: Airwallex keeps pricing straightforward. Here's what you'll pay:

• Local transactions: Free

• International transactions: Free

• Currency conversion: If you hold an insufficient balance, you'll be charged the prevailing FX rate + 1% to process the transaction using one of your other balances

Weel pros and cons

Pros

• You'll get virtual Visa cards that you can issue to yourself and your team

• You can see all your spending in real-time, all in one place

• It helps you manage your SaaS subscriptions

Cons

• Weel is only a spend management tool, so you'll need other platforms to open local and global business accounts, manage payment acceptance, and set up savings accounts

• Weel's pricing doesn't stack up well when you compare it to Airwallex, which gives you more financial tools for less money

• Dedicated account managers only come with the 'Enterprise' package

Airwallex pros and cons

Pros

• Not just a spend management tool – you get all the financial tools you need to run your business including a Business Account, a POS to accept customer payments, a suite of Billing tools, and sophisticated embedded finance

• You'll pay less – our Grow bundle costs A$99/month and also includes everything in our Explore package, which beats Weel's Basic package on price

• Save on your international costs with market-leading FX rates, a Global Account to open local foreign currency accounts in 21 countries, no international transaction fees on your corporate card spend, and wide global reach to 200+ countries.

Cons

• No physical branches – digital-only platform and service

• Built to serve businesses only, with no consumer account available

• New updates and optimisations being released regularly, which may not suit all businesses

How does Weel work?

Weel, previously known as DiviPay, is an Australian company built for spend management. If you're running a business in Australia or New Zealand, Weel helps you manage team spending with corporate cards, expense management tools, and accounts payable features that integrate with your accounting platforms.

How does Airwallex work?

Airwallex is a comprehensive financial operations platform that was founded in Melbourne. While both Weel and Airwallex offer spend management, Airwallex provides a broader suite of financial services. This includes multi-currency Corporate Cards, Expense Management, and Billing; payment acceptance with hosted checkouts and payment links; Yield to earn returns on idle business funds; and platform APIs and embedded finance tools.

Which platform is right for your business?

When you're choosing between Weel vs Airwallex, think about scope and ambition. Weel offers spend management tools for businesses operating within Australia and New Zealand. Airwallex provides a more comprehensive financial operations platform for companies with global ambitions or doing business across borders.

Choose Airwallex if you:

• Operate in more than one country: You deal with international suppliers, customers, or team members.

• Want to reduce multi-currency costs: You can create multi-currency cards for specific budgets and expenses to reduce SaaS costs, issue cards to employees globally and cut international fees, and open accounts with local banking details to operate like a local in 21 countries. 

• Want payment acceptance: You need to collect payments from global customers, whether that’s through a simple payment link or a customised checkout on your website. 

Frequently asked questions

Can I use Airwallex for international payments?

Yes, if you're doing business globally, Airwallex can help you. We support international payments to over 200 countries with 0% international transaction fees. Weel works in Australia and New Zealand and charges 0.95% for foreign currency transactions.

With Airwallex Global Accounts, you can do a few key things:

• Hold and transfer: Accept payments from 70+ countries and pay out to over 200 countries.

• Local banking details: Get local account details in 21 countries.

• Global reach: Leverage local payment rails when sending payments to 120+ countries, and trade 90+ countries at interbank rates.

Do Weel or Airwallex integrate with accounting software?

Both Weel and Airwallex let you integrate with major accounting software. Weel connects with Xero, QuickBooks, NetSuite, MYOB, and Slyp. Airwallex also integrates with Xero and QuickBooks, and extends its capabilities to enterprise-level systems with direct integrations for NetSuite and Sage.

Does Airwallex offer the same spend controls as Weel?

Yes, Airwallex provides equivalent spend control features including customisable spending limits, merchant category restrictions, and real-time visibility over all card transactions. Airwallex also includes multi-layer approval flows in its Grow bundle – a feature Weel reserves for higher-tier plans.

How quickly can I get started with Airwallex compared to Weel?

You can get started digitally with both Airwallex and Weel. It takes a few business days, subject to standard verification checks. Airwallex's set-up includes the ability to open multi-currency Global Accounts, which is a straightforward process designed to get your business operating globally as quickly as possible.

Sources: 

1. https://letsweel.com/pricing

2. https://letsweel.com/product-updates/post/team-members-cards-dashboard

3. https://letsweel.com/product/corporate-cards

4. https://letsweel.com/product/reimbursements

5. https://letsweel.com/faqs

Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here.