Airwallex vs Macquarie Bank: A digital-first business account for your company
Managing company finances shouldn't be a hurdle – but it can be without the right products and tools. With Airwallex, you will have everything your business needs on the one platform: a multi-currency business account; Corporate Cards; powerful expense management; competitive and transparent FX; and a Yield account to grow your idle business funds.
Let’s compare the two platforms to find the right account for you.
3 reasons why businesses choose Airwallex over Macquarie Bank
Powerful spend management
Airwallex lets you manage team spend with multi-currency physical and virtual cards with built-in expense management. You can issue virtual team cards in 60+ countries and set spend limits hourly, daily, weekly, or annually. Macquarie Bank’s Business Transaction Accounts do not offer business debit cards.
Global collections like a local
Receive funds from 70+ countries into your Global Account and pay out to 200+ countries. Open local banking details in 20+ countries, settle payments like-for-like, and avoid forced conversions when you receive payments from suppliers or customers, and only use the funds when you need them.
An all-in-one financial platform
For one monthly cost, access all of Airwallex’s business features and tools including low-cost FX, checkout solutions to receive customer payments in 130+ currencies; a Yield account to grow your USD and AUD balances; billing and invoice management; and more.
Get more features and tools to scale with Airwallex
The biggest difference between Airwallex and Macquarie Bank is that Airwallex is designed to help your business scale with more features and tools built into the account. Let’s see how the accounts compare side-by-side.
Save on multiple subscriptions with Airwallex in Australia
Why pay for multiple platforms and tools when Airwallex is all-in-one? While Macquarie Bank is a Business Transaction Account with useful features, you would still need to find a separate provider for business debit cards, an FX platform for international transactions, and if you’re an eCommerce business, a payment gateway.
What local businesses are saying about Airwallex
"Airwallex Bill Pay has given us better control over our finances, and has helped us roll up important strategic budgeting and forecasting capabilities. It’s also improved our relationship with our suppliers, because we now never miss a beat with paying them on time."
Joel Stehr
Chief Operating Officer, Bilue
"One thing we like about Airwallex, which differentiates it from other providers out there, is the team card approach as well as the individual cards. It’s a massive time saver too - to the point that we just wouldn't use a solution that didn't have an integration with Xero, just due to the volume of transactions and manual work that would be required otherwise. It's amazing.”
Georgia Burns
Strategic Finance Director, Auror
"It’s definitely time saving, from mine and our Head of P&C’s perspective as people that prepare payroll are not having to granularly look through each expense item line. The users have taken to it like a duck to water. It's not a difficult system to use. Sometimes people are like ‘oh, another system, another app to download.’ But it wasn’t arduous at all. Once you download the app, it's very straightforward. There's really been no push back whatsoever from anyone because I think people immediately get the buy in.”
Alec Alltimes
APAC Finance Director, Commission Factory
Frequently asked questions
Can I receive foreign currencies with a Macquarie Business Transaction Account?
No, the account is AUD-only and cannot receive foreign currencies.
Does Macquarie offer corporate cards with this account?
No, cards are not offered with the Macquarie Business Transaction Account.
Can I apply for a Macquarie Business Transaction Account online?
You can request to receive a call from Macquarie Bank online but will receive a follow up phone call to discuss your needs.
Who is eligible to open an Airwallex account in Australia?
To be eligible, your business will need to pass certain eligibility checks. This includes having an active ABN, valid IDs for connected individuals, not being in a restricted industry, and that standard documents are eligible.
Sign up online, or get in touch with us today
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) 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 23 January 2026 (AEDT) and indicate past 7-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.