How does Airwallex work?

Key takeaways:

• Airwallex is a global financial platform that provides businesses with an all-in-one solution for managing international payments, multi-currency global accounts, FX, corporate cards, expenses, payments, and more.

• Unlike traditional banks, Airwallex offers faster settlements, better exchange rates, and wide global payment coverage

• Get started in minutes with no opening fees and access a comprehensive suite of products designed to help your business grow without borders.

What is Airwallex?

Airwallex is a global financial platform that empowers businesses of all sizes to grow without borders. We provide a comprehensive suite of business finance products that help Australian businesses go global, transform their financial operations, and expand rapidly.

Our mission? To create a global economic infrastructure that makes international business as easy as local business. With Airwallex, over 20,000 Australian businesses (and 150,000+ globally) can collect, convert, and move money across borders with:

• Like-for-like settlement in 14+ currencies – No forced conversions or hidden FX fees

• Save up to 80% on FX costs – Compared to traditional banks and other platforms

• Local bank details in 21 countries – Operate like a local business, anywhere in the world

• Cards and Payments – Easily manage spend with virtual and physical multi-currency cards, and accept over 160 local payment methods

• Faster payouts – 95% of transactions settle within hours or the same day, with 52% arriving instantly

• All-in-one platform – Global Accounts, FX, Cards, and Expense Management working together seamlessly

What products does Airwallex offer businesses?

So, what does Airwallex do? Airwallex provides an integrated suite of financial products designed to streamline your global operations:

• Global Accounts – Open local currency accounts in 21 currencies with local banking details.

• FX & Transfers – Send money to 200+ countries at market-leading rates.

• Corporate Cards – Issue virtual and physical Corporate Cards with no foreign transaction fees.

• Bill Pay – Automate accounts payable and manage vendor payments globally.

• Payment Links & Plugins – Accept online payments from customers worldwide in 160+ payment methods.

• Expense Management – Track and approve employee spending in real time.

• Yield – Earn competitive returns on your business funds through Yield.

• Software Integrations – Connect with Xero, NetSuite, Shopify, and more.

• Embedded Finance – Explore our white-label financial services, developer tools and APIs.

Open Global Accounts in minutes and get paid like a local

Opening a business account in another country traditionally takes hours of paperwork with local banks. With Airwallex, you can open a Global Account in minutes and start collecting payments from international customers right away.

What you get:

• Local bank details in 21 countries – Receive local IBANs, sort codes, and routing numbers so you can receive payments just like a local business.

• 70+ currencies supported – Accept payments in major currencies including AUD, USD, GBP, EUR, and HKD.

• Set up in minutes – No lengthy applications or waiting periods.

• No fees to open – Zero account opening fees and no minimum transaction requirements.

• Like-for-like settlement – Get paid in the same currency your customers use, with no forced conversions for 14 currency pairs.

• Spend in same currency – Pay local suppliers without unnecessary conversion fees.

From your Airwallex dashboard, you get a complete view of all your accounts. Navigate between them easily, find account details, and see transaction activity in a single place.

Save up to 80% on FX costs with fast, transparent global transfers

When you're going global, every dollar counts. Foreign exchange conversion fees can quickly eat into your expansion budget. Our founders experienced this firsthand when opening a cafe in Melbourne, which inspired them to create Airwallex.

Now, moving money internationally has never been easier.

What we offer:

• Send to 200+ countries 

• Trade in 90+ currencies at near-interbank rates with live FX pricing

• 100+ currencies priced live on the spot market

• Save up to 80% on FX costs compared to traditional banks and other platforms

• Faster settlements, with 95% of transactions settling within hours or the same day; 52% arrive instantly

• Over 90% of transactions use local payment infrastructure, not SWIFT

• Transparent pricing with no surprise transaction charges

• Complete visibility to see exactly what you're transferring, estimated delivery dates, and live exchange rates

• Batch transfers to pay up to 1,000 recipients in different countries in one go

You get complete control over the process, with real-time rate updates and clear delivery estimates at every step.

Issue cards instantly and control spend globally with Airwallex Corporate Cards

Employees need flexible spending options for business purchases, but traditional corporate cards take weeks to issue. Manual reimbursements? Even more frustrating.

Airwallex Corporate Cards slash that wait time to seconds with virtual cards, empowering your team to make purchases in Australia and abroad without FX fees.

Card features:

• Instant virtual cards – Create cards in seconds, no waiting for mail delivery

• Physical cards available – Get traditional cards when you need them

• Spending controls – Set custom limits and approval workflows

• Apple Pay & Google Pay 

• Live activity tracking – Monitor all card spending from your Airwallex dashboard

• Instant management – Create, freeze, or cancel cards immediately

Your employees can see their purchases, card details, and current spend against set limits all in one place.

Accept payments worldwide with higher conversions and lower fees

Taking your business global means setting up ways to accept payments from customers worldwide. Airwallex makes it easy to securely process online payments, get paid in your customers' local currency, and save on unnecessary fees.

Payment acceptance capabilities:

• 160+ payment methods – Accept Apple Pay, Google Pay, PayPal, Mastercard, Visa, Amex, and popular local payment methods

• Multiple integration options – Payment Links, plugins, APIs, and platform integrations for flexibility

• Local currency collection – Get paid in your customers' preferred currencies

• Platform integrations – Connect with popular eCommerce platforms like Shopify and WooCommerce

• Live tracking – Monitor all payment activity in real time from your dashboard

Whether you're accepting payments online, in-store, or through your platform, Airwallex provides the tools to process transactions globally.

Get paid instantly with shareable, no-code payment links

Need a quick way to collect payments without technical setup? Payment Links let you create, customise, and share payment requests in just a few clicks – no coding required.

Features of Payment Links:

• Create in seconds – Set up payment links without any technical knowledge

• Fully customisable – Add your branding, product details, and payment amounts

• Share anywhere – Send links via social media, email, SMS, or embed in invoices

• Instant notifications – Get email alerts when payments are successful

• Real-time tracking – Monitor payment status from your Airwallex account

Simply create your payment link, share it with your customers, and get paid. It's that straightforward.

Get real-time visibility and control over your expenses with Airwallex Expense Management 

Finance teams need visibility over money flowing in, out, and around a business. Expense Management is built into our Corporate Cards, syncing to employee and business Airwallex accounts.

For employees:

• Upload receipts on-the-go with the Airwallex mobile app

• Submit expenses quickly with a straightforward mobile interface

For finance teams:

• See spending in real time from desktop or mobile

• Easily source transaction details and approve expenses instantly

• Design multi-level approval workflows

• Close books faster with accounting software sync

• Track spending against budgets and limits

How to free your finance team with Airwallex Bill Pay

Keeping suppliers and vendors happy is critical, but managing bills and invoices from different entities across different countries can be challenging. Bill Pay makes accounts payable easy and automated.

Bill Pay benefits:

• Automated workflows – Custom approval processes and notifications for greater spending visibility

• Reduce manual entry – Minimise data entry and human errors

• Global vendor payments – Pay vendors worldwide with market-leading FX rates

• Faster reconciliation – Smart integrations with Xero, NetSuite, and QuickBooks

• Centralised management – Handle all invoices from one platform

Free yourself from manual, time-consuming bill payments and automate your accounts payable all from one place.

Turn idle balances into daily earnings with Airwallex Yield

Your money should work as hard as you do. With Airwallex Yield, you can generate competitive returns on your funds, making your business finances go further.

Yield features:

• Competitive returns – Earn returns on AUD and USD balances (rates vary and may change).

• Instant withdrawals – Withdraw instantly up to $100,000; larger withdrawals typically settle in 1–2 business days.

• Daily returns – Returns accrue daily and are visible in the Airwallex app.

• Integrations – Sync Yield balances to Xero for faster reconciliation.

• Low-risk investments – Access J.P. Morgan Liquidity Funds and AAA-rated money market funds.

• No lock-up periods – Unlike term deposits, access your funds whenever you need them.

Sync your finances effortlessly with integrations that do the work for you

Software integrations save time, reduce errors, and transform your customer experience. Our integrations connect users to popular platforms across accounting, productivity, eCommerce, and sales.

Popular integrations:

• Accounting – Xero, NetSuite, QuickBooks, Sage, Odoo

• eCommerce & Marketplaces – Shopify, WooCommerce, Magento, Amazon, eBay, Lazada, Shopee

• CRM & Marketing – HubSpot, Salesforce (via Asperato)

• Productivity & HR – Zapier, Workday, BambooHR, Employment Hero

Speed up reconciliation, improve connection speeds, or streamline expense management with integrations to maximise your tech stack.

Unlock your potential with Airwallex Embedded Finance

Tap into Airwallex’s powerful financial solutions to build and monetise your own global financial products through embedded finance. You can create unique financial experiences for your customers without developing services from scratch with engineers or banks.

Our embedded finance tools include:

Global Treasury – Enable customers to collect, store, and disburse funds worldwide. Tap into flexible monetisation models including FX markups, payout fees, and per-transaction charges.

Core API – Built for tech-forward global businesses with developers in mind, Airwallex's Core API makes it easy to programmatically manage global payments and financial operations.

Banking as a Service API (BaaS API) – Leverage Airwallex Baas API infrastructure to offer financial services including:

• Global accounts for customers to send money worldwide

• Multi-currency balances in 21 currencies

• Branded physical and virtual cards

• Lending with intelligent credit risk management

Payments for Platforms – Create seamless payment experiences with our Payments for Platforms for:

• Programmatic connected account creation

• Automatic fund splitting

• Frictionless global pay-in and payout

• Streamlined compliance without PayFac registration

• Minimised FX risk through same-currency collection and settlement

With white labelling, you can apply your own branding to our financial products, making them entirely your own.

Is Airwallex safe?

Airwallex prioritises the security of your business and your business finances above all else.

We take a comprehensive approach to security:

Regulatory compliance 

Airwallex holds an Australian Financial Services Licence (AFSL No. 487221) and is regulated by the Australian Securities and Investment Commission (ASIC), the Reserve Bank of Australia (RBA), and the Australian Transaction Reports and Analysis Centre (AUSTRAC).

Fund protection 

Airwallex protects your funds by arranging for major APRA-regulated bank(s) to provide bank guarantee(s) for an amount covering your entire wallet balance. Your funds are safeguarded in line with local regulations where Airwallex operates.

Advanced security infrastructure 

Our best-in-class security controls are monitored 24/7, and we meet the highest international security standards, including PCI DSS, SOC1, and SOC2 compliance.

Trusted financial partners 

We hold your money with leading global financial institutions to ensure maximum security.

How do businesses in different industries use Airwallex?

Australian businesses across industries leverage Airwallex to streamline operations, reduce costs, and expand globally.

• eCommerce Australian wine retailer Vinomofo uses Global Accounts, Transfers & FX, and Cards to achieve an 11% decrease in conversion costs while saving tens of thousands on transaction fees.

• Travel Travel social networking app Travello uses Transfers & FX, Global Accounts, and Cards to eliminate unnecessary currency conversions, saving AUD$25,000 in transfer fees annually.

• Technology Australian tech company Mr Yum issued 30+ cards in just a few clicks, launched in the UK rapidly, and saved over $50,000 on international transaction and FX-related fees with Airwallex.

• Small & Medium Businesses Whether you're running an eCommerce, travel, tech, property, or design business, our flexible Business Account helps you save time, drive revenue, and expand in ways you never thought possible. Get started by signing up for your account today.

• Enterprise Major Australian brands like Qantas and Afterpay leverage our Core API and white-label Embedded Finance features to build sophisticated financial solutions tailored to their specific needs.

How to get started with Airwallex

Getting started with Airwallex is simple – just sign up for a Global Account and you can open multiple domestic and foreign currency accounts in minutes. There are no opening fees or minimum transaction requirements.

For businesses with 500+ employees, our specialist team can walk you through enterprise solutions tailored to your specific needs.

From accepting payments in 160+ currencies to managing global spend and earning returns on your balances, Airwallex brings together everything you need to operate internationally under one platform. Thousands of Australian businesses already use Airwallex to simplify their global operations and reduce costs—and we're ready to help yours do the same.

Airwallex: Frequently asked questions

What is Airwallex?

Airwallex is a global financial platform that helps businesses manage international payments, multi-currency accounts, FX transfers, corporate cards, and expenses – all in one place.

What does Airwallex do?

Airwallex provides Global Accounts, FX transfers, Corporate Cards, Bill Pay, Payment Links, Expense Management, and Yield. Our platform helps businesses save on international transaction costs and speed up global payments.

How does Airwallex work?

Airwallex gives you access to our global financial infrastructure with local bank details in over 21 countries. You can send and receive money using local payment rails, trade at near-interbank rates, and manage everything from one platform

Is Airwallex a bank?

No, Airwallex is not a bank. Airwallex is an ASIC-licensed payment institution (AFSL No. 487221) that partners with local payment rails globally. We provide financial services that rival traditional banking, often with better rates and faster processing times.

Does the Airwallex payment platform accept Apple Pay?

Yes! We accept Apple Pay, Google Pay, PayPal, and popular card providers like Mastercard, Visa and Amex, plus over 160 payment methods in total. Your customers can pay however works best for them.

What countries does Airwallex operate in?

Airwallex provides local bank details in over 21 countries including the US, UK, Europe, Australia, Singapore, Hong Kong, and Canada. You can accept payments in 70+ currencies and send transfers to 200+ countries worldwide.

Can I use Airwallex if I'm a small business or sole trader?

Absolutely. Airwallex serves businesses of all sizes, from sole traders to large enterprises. Our products scale with your business as you grow.

Do I need to close my existing bank account to use Airwallex?

No. Airwallex works alongside your existing bank accounts. Many businesses use Airwallex for international transactions while keeping their traditional bank account for domestic operations.

Can I withdraw money from Airwallex to my local bank account?

Yes. You can transfer funds from your Airwallex account to your local bank account whenever needed. You have full control over your funds.

Do I need to do business internationally to use Airwallex?

No. While Airwallex is designed for international business, even businesses planning to expand or those with occasional cross-border transactions can benefit from our platform.

Can all types of businesses use Airwallex?

Most businesses can use Airwallex, though we do have acceptance criteria to ensure we can provide the best service and comply with regulations. To see if your business qualifies, check our Acceptable Use Policy.

Disclaimer: 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) read the Product Disclosure Statement (PDS) for the Direct Services 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 [insert date] (AEDT) and indicate past 1-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.