Wise vs Airwallex: Compare all the 2026 features and tools to find the platform for you

Key takeaways

• Airwallex and Wise offer multi-currency business accounts and are known for sleek interfaces, wide currency coverage and low FX costs

• When comparing Airwallex vs Wise in Australia, consider multi-currency support, the breadth of features offered, and the costs

• Airwallex has the edge over Wise in many  ways: it offers more currencies and can payout to more countries, it offers more features and tools, and is built exclusively for businesses.

If you run a business and are looking to grow, you may be considering an innovative fintech platform to manage your business finances. Both Wise and Airwallex facilitate global money transfers and offer business accounts to Australian businesses, but only Airwallex offers an all-in-one financial platform to help companies scale and grow without borders.

In this guide, we’ll show you how Wise vs Airwallex compares across their suite of features, how fees work for both platforms, and help you decide which is best for your business.

How does Wise work?

Wise launched in 2011 for consumers as an international money transfer service. Over time, it has expanded, and now offers Wise Business accounts along with other financial services. It has maintained a reputation for transparent pricing and currency conversion using the mid-market exchange rate.

Wise Business offers multi-currency business accounts to hold and convert funds in 40+ currencies, accepting payments in nine currencies with local banking details and facilitating transfers to 50+ countries.¹ The platform serves both individual consumers and businesses, with a business model focused primarily on international transfers and currency conversion.

How does Airwallex work?

Founded in 2015 in Melbourne, Airwallex is a financial solutions platform built exclusively for businesses to enable seamless global money management. Unlike Wise, Airwallex provides an all-in-one platform designed specifically for business needs, from managing customer payments to paying suppliers and contractors internationally.

With Airwallex, domestic and international customer payments flow into a multi-currency wallet supporting 70+ currencies. Businesses can then pay suppliers and contractors abroad with rapid transfers to 200+ countries with no costly transfer fees required. Airwallex also offers online payment acceptance, Corporate Cards, expense management, and high-rate saver accounts, providing comprehensive financial operations tools under one platform.

Airwallex vs Wise: Head-to-head comparison

Airwallex vs Wise: Fees compared

Airwallex and Wise have different pricing models. With Wise, it’s free to register for an account and free to hold money in your account. However, you are charged money to open local foreign currency accounts, to top up external wallets, to withdraw money using your card, and to convert money. 

Airwallex offers three different pricing tiers which start from A$0 per month if you meet certain requirements. Included in those tiers is free local transfers to 120+ countries; 21 local foreign currency accounts; payouts to 200+ countries; access to your high-growth saver; Corporate Cards; and more.

Wise fees explained

For Wise business account holders, fees consist of:

• Account opening: Free to register and an A$65 one-time fee applies to set up local account receiving in nine currencies.

• Monthly fees: No ongoing monthly fees.

• International transfers & FX conversions: Fixed fees plus variable fees may apply, starting from 0.63% per transfer. Differs by currency and rails used – for example, local, SWIFT – and volume discounts may also apply. 

• Employee spending: One-time A$6 fee for each card for team members. Cash withdrawals from ATMs over A$350 per month incur a 1.75% + A$1.50 per withdrawal, and topping up your eWallet may also incur a fee. 

• Wise Interest: To keep money in an interest-earning fund, there is a 0.72% annual fee.

Airwallex fees explained  

For Airwallex users, fees consist of: 

• Account opening: No setup fees.

• Account pricing: The Explore bundle is A$0 per month if you deposit at least $5k per month or hold a minimum balance of $10k. Otherwise it is $29 /month. See all our pricing here.

• International transfers & FX conversions: There are no transfer fees when using local payment rails in 120+ countries and flat fees apply for SWIFT transfers. You can transfer to over 200+ countries total and the FX Rate is the interbank rate + 0.5% for USD, HKD, CNY, AUD, EUR, GBP, CAD, SGD, CHF, NZD, JPY, and +1% for all other currencies.

• Employee spending: Use Corporate Cards for multi-currency spending with zero international transaction fees.

• Payment acceptance: Accept payments from 160+ local payment methods and settle 20+ currencies like-for-like. Accept domestic cards for 1.65% + $0.30; international cards for 3.40% + $0.30; and local payment methods for $0.30 + the payment method fee.

Airwallex vs Wise: Quick fee comparison

Compare additional features between Wise and Airwallex

Online payments

Wise does not currently offer the ability to accept card payments. Airwallex is a fully functioning payment gateway which allows businesses to collect  customer payments online, including card payments and 160+ local payment methods in 180+ countries.

Corporate Cards

Wise offers debit cards for a cost of A$6 per card. Teams can make multi-currency payments online and in-store either physically or via a digital wallet. There are fees for withdrawing money over A$350 per month and also fees for converting money, but no fees spend funds if you have the currency available. Airwallex Corporate cards can be used anywhere ‌Visa is accepted and you receive 10 cards with the Explore plan. The cards are available on Apple Pay and Google Pay and also offer extensive card controls and no additional fees to spend. To add extra Airwallex card users, it’s A$15 per user per month.

Team expenses

While Wise has basic card control features, Airwallex provides end-to-end tools for teams to track and control spend globally whether on cards or reimbursed for out-of-pocket expenses. All expense data is seamlessly synced with popular accounting integrations.

Bills and accounts payable

Airwallex centralises accounts payable workflows so finance teams can consolidate domestic and global supplier payments. Both Wise and Airwallex have integrations with Xero and Quickbooks, and can process batch payments of up to 1000⁶.

High-rate saver

Airwallex offers all users Yield, a high-rate saver to allow businesses to earn on their idle AUD and USD funds. Yield has no lock-in periods and competitive rates of return, as well as instant withdrawals. Wise offers Interest, an investment option for personal and business users. However, there is an annual fee to use Wise Interest and there are no instant withdrawals available.

Developer platform and APIs

For developers and technical teams, Airwallex opens access to advanced APIs opportunities to transform financial operations. Wise provides limited developer options tailored to basic needs⁸.  

Customer support

Both platforms offer 24/7 online customer support. However, Airwallex goes a step further and also provides account management and onboarding assistance for eligible businesses⁹.

Why choose Airwallex over Wise Business

While Wise Business offers solid rates and transparent pricing for basic international transfers, Airwallex provides a complete solution for companies looking to grow, wanting to reduce FX fees, or that want access to a wider range of features and tools. 

Key advantages of Airwallex:

• Built exclusively for business needs: Unlike Wise's consumer-first model, Airwallex is designed specifically for business accounts and business operations

• Wider global payout coverage: Transfer to 200+ countries vs Wise's 50+ countries, with approximately 95% of transactions settling same-day

• Full online payment gateway: Airwallex offers a full online payment gateway functionality that lets you accept customer payments online with 160+ local payment methods; Wise does not currently offer a way for Australian businesses to accept customer Payments.

• No transaction fees: 0% domestic and international transaction fees for spending on Corporate Cards.

• Comprehensive financial operations: Manage payments, transfers, currency conversion, Corporate Cards, Expense Management, and high-rate saver accounts all in one platform

• Enterprise-grade APIs: Advanced developer tools for businesses needing custom integrations

• Dedicated account management: Personalised onboarding and support for eligible businesses

• Zero hidden fees: Transparent pricing with no setup costs.

With extensive capabilities for collections and payouts worldwide, market-leading FX rates, and integrated financial management tools, Airwallex is purposely built to help businesses grow in the modern digital economy.

Wise vs Airwallex: Frequently asked questions

What is the difference between Airwallex and Wise Business?

The key differences are: Airwallex is built exclusively for businesses and offers comprehensive financial operations including payment acceptance, multi-currency business accounts, payments, Corporate Cards, and expense management. Wise Business focuses primarily on international transfers and multi-currency accounts, serving both consumers and businesses. Airwallex supports transfers to 200+ countries while Wise Business covers 50+ countries.

Which is better for business accounts: Airwallex or Wise Business?

For comprehensive business account features, Airwallex typically offers more. Airwallex provides payment acceptance for customer payments, wider global payout coverage (200+ vs 50+ countries), Corporate Cards with Expense Management, high-rate saver accounts, and dedicated account management. The best choice depends on your business needs: choose Airwallex for complete financial operations, or Wise Business if you primarily need multi-currency holding and basic transfers.

How do fees compare between Airwallex and Wise?

Airwallex charges no setup fees and offers $0/month plans (with minimum deposit or balance requirements). International transfers on local rails are free in 120+ countries, with FX rates of interbank + 0.5–1.0%. To accept payments, domestic cards are charged at a rate of 1.65% + $0.30 and 3.40% + $0.30 for international cards. 

Wise Business charges an AUD$65 fee to access local account details for certain currencies and has no monthly fees. Transfer fees start from 0.63% plus the mid‑market exchange rate, with actual fees varying by currency and route. 

Can I accept customer payments with Airwallex and Wise?

Airwallex provides a full payment gateway to accept customer payments online, including card payments and 160+ local payment methods in 130+ currencies. This makes it ideal for eCommerce and online businesses. Wise does not currently offer a way for Australian businesses to accept customer payments.

What currencies can I hold with Airwallex vs Wise Business?

Airwallex supports holding and exchanging 70+ currencies in your multi-currency business account. Wise Business supports 40+ currencies for holding and conversion. Airwallex provides wider global payout coverage with transfers to 200+ countries compared to Wise Business's 50+ countries.

Does Airwallex offer better global payout coverage than Wise?

Yes, Airwallex offers significantly better global payout coverage. Airwallex supports transfers to 200+ countries with approximately 95% of transactions settling same day or within hours and approximately 57% settling instantly. Wise Business transfers to 50+ countries. For businesses with international suppliers, contractors, or global operations, Airwallex's wider coverage provides more flexibility.

Which platform is better for currency conversion?

Both platforms offer transparent pricing for currency conversion. Airwallex charges interbank rate + 0.5% for major currencies (USD, EUR, GBP, etc.) and 1.0% for other currencies. Wise Business uses the mid-market exchange rate with fees starting from 0.4%. The key difference is that Airwallex offers no transfer fees on local rails in 120+ countries, while Wise charges transfer fees in addition to conversion costs.

Sources

1. https://wise.com/au/pricing/business

2. https://wise.com/au/pricing/business/send-money

3. https://wise.com/au/pricing/business/card-fees

4. https://wise.com/au/pricing/business/receive

5. https://wise.com/au/pricing/business/hold-fees

6. https://wise.com/au/business/

7. https://wise.com/au/business/manage-team

8. https://wise.com/au/business/api

9. https://wise.com/au/business/interest

10. https://wise.com/au/business/multi-currency-banking

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.

The Airwallex Yield Liquidity Fund (Yield) is issued by K2 Asset Management Limited (K2) (ABN 95 085 445 094, AFSL No 244393), a wholly owned subsidiary of K2 Asset Management Holdings Limited. This information doesn’t take into account your objectives, financial situation, or needs. Read the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for Yield, available at www.airwallex.com.au/terms from Airwallex Capital Pty Ltd (ABN 37 609 653 312, AFSL No. 549026). All investments carry risk. *Target returns are net of fees as at 1 January 2024 (AEDT) and indicate past 1-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.