What the Airwallex multi-currency card really costs in 2025: A USD-purchase fee breakdown

You're evaluating multi-currency cards for your business, but hidden fees can turn "competitive rates" into budget surprises. With Airwallex's published 1% FX conversion margin now public, we can finally build transparent cost calculators that reveal the true expense of USD purchases across different spending patterns.

This breakdown examines three common business scenarios – light international spend, moderate cross-border transactions, and heavy USD purchasing – comparing Airwallex's effective rates against Wise, traditional bank cards, and PayPal Business Debit. (Airwallex Pricing)

Understanding Airwallex's 2025 fee structure

Airwallex operates on a subscription model with three main pricing tiers designed for different business scales. (Corporate Alliance) The Explore plan starts free and includes unlimited multi-currency corporate cards with zero international fees, while maintaining access to interbank FX rates for currency conversions. (Airwallex Pricing)

The platform's multi-currency approach allows businesses to hold funds in 20+ currencies, reducing forced conversions that typically trigger additional fees. (Airwallex Business Account Cards) This structure particularly benefits companies with regular international transactions, as they can settle payments in matching currencies without conversion costs.

The 1% FX conversion margin explained

When your Airwallex card processes a USD purchase but your account holds a different currency, the platform applies a 1% margin above the interbank rate. (Corporate Alliance) This margin represents the actual cost of currency conversion, separate from any transaction fees.

For context, traditional bank cards often apply 2.5-3.5% foreign exchange margins, making Airwallex's 1% rate competitive for businesses with significant cross-border spending. (Airwallex Cross-Border Fees) The key advantage lies in transparency – you know exactly what conversion will cost before making purchases.

Cost calculator: Three spending scenarios

Let's examine how Airwallex's fees impact different business spending patterns, using real calculations based on current published rates.

Scenario 1: Light international spend ($2,000 USD monthly)

Business profile: Small consultancy with occasional software subscriptions and marketing tools

Effective rate: 1.0% (conversion fee only, no transaction fees)

For light spenders, Airwallex's structure works well because the Explore plan eliminates monthly fees if you maintain $10,000 across currency wallets or process $5,000 monthly deposits. (Corporate Alliance)

Scenario 2: Moderate cross-border transactions ($8,000 USD monthly)

Business profile: E-commerce company with US suppliers and international marketing spend

Effective rate: 1.0% (conversion fee only)

Moderate spenders benefit from Airwallex's unlimited corporate cards feature, allowing different team members to make purchases without per-card fees. (Airwallex Spend Management Cards) The platform's expense management tools also streamline reimbursement processes for this spending level.

Scenario 3: Heavy USD purchasing ($25,000 USD monthly)

Business profile: Manufacturing company with significant US supplier relationships

Effective rate: 1.0% (conversion fee only)

Heavy spenders often qualify for Airwallex's higher-tier plans, which include additional features like automated accounts payable management and enhanced reporting capabilities. (Airwallex Pricing)

Competitive comparison: Airwallex vs alternatives

To understand Airwallex's true value proposition, we need to compare total costs against major alternatives across our three scenarios.

Wise Business Card comparison

Wise typically charges a 0.35-0.65% conversion fee for major currencies like USD, plus a small fixed fee per transaction. (Airwallex vs Wise Comparison) However, Wise's fee structure can become complex with multiple small transactions.

Light spend scenario ($2,000 USD):

• Wise estimated cost: $7-13 (0.35-0.65% + transaction fees)

• Airwallex cost: $20 (1% conversion)

• Winner:

  Wise by $7-13 monthly

Moderate spend scenario ($8,000 USD):

• Wise estimated cost: $28-52 (0.35-0.65% + transaction fees)

• Airwallex cost: $80 (1% conversion)

• Winner:

  Wise by $28-52 monthly

Heavy spend scenario ($25,000 USD):

• Wise estimated cost: $87.50-162.50 (0.35-0.65% + transaction fees)

• Airwallex cost: $250 (1% conversion)

• Winner:

  Wise by $87.50-162.50 monthly

However, this comparison doesn't account for Airwallex's additional business features like expense management, automated accounts payable, and multi-currency account capabilities. (Airwallex vs Wise Comparison)

Traditional bank card comparison

Most traditional bank cards charge 2.5-3.5% foreign exchange margins plus potential transaction fees. (Airwallex Cross-Border Fees)

All scenarios favor Airwallex significantly:

• Light spend: Bank cost $50-70 vs Airwallex $20

• Moderate spend: Bank cost $200-280 vs Airwallex $80

• Heavy spend: Bank cost $625-875 vs Airwallex $250

PayPal Business Debit comparison

PayPal Business Debit typically charges 2.9% + $0.30 per international transaction, making it expensive for regular cross-border purchases.

All scenarios strongly favor Airwallex:

• Light spend: PayPal cost ~$64 vs Airwallex $20

• Moderate spend: PayPal cost ~$254 vs Airwallex $80

• Heavy spend: PayPal cost ~$782 vs Airwallex $250

Hidden costs and considerations

Beyond headline conversion rates, several factors affect your total cost of ownership with any multi-currency card solution.

Account maintenance and minimum balances

Airwallex's Explore plan becomes free when you maintain $10,000 across all currency wallets or process $5,000 monthly deposits. (Corporate Alliance) This threshold works well for established businesses but may challenge early-stage companies with limited cash flow.

For businesses below these thresholds, the $29 monthly fee adds $348 annually to your costs, potentially offsetting conversion savings for very light spenders.

Currency timing and volatility

Airwallex provides access to interbank FX rates, which fluctuate throughout the day. (Airwallex Pricing) Smart businesses can time larger purchases during favorable exchange rate periods, potentially saving more than the 1% conversion margin costs.

Traditional banks often use daily fixed rates that may be 12-24 hours old, eliminating this optimization opportunity.

Integration and operational efficiency

Airwallex's platform integrates with accounting software like Xero and QuickBooks, automating expense categorization and reducing manual bookkeeping time. (Airwallex Pricing) For businesses processing dozens of international transactions monthly, this automation can save significant administrative costs.

The platform also offers automated accounts payable management, streamlining supplier payments across multiple currencies. (Airwallex Pricing) These operational efficiencies often justify higher per-transaction costs for growing businesses.

Optimizing your Airwallex costs

Several strategies can minimize your effective conversion costs while maximizing the platform's business benefits.

Multi-currency wallet strategy

Maintain USD balances when possible to avoid conversion fees entirely. If you regularly receive USD payments through Airwallex's payment acceptance features, keep those funds in USD for future purchases. (Airwallex Pricing)

For businesses with predictable USD expenses, consider converting larger amounts during favorable exchange rate periods rather than converting small amounts frequently.

Batch purchasing approach

Consolidate smaller purchases into larger transactions when practical. While Airwallex doesn't charge per-transaction fees, batching reduces the administrative overhead of tracking multiple small conversions.

This approach works particularly well for software subscriptions, professional services, and recurring supplier payments.

Leverage cash rebates

Airwallex offers up to 1.5% cash rebates on local USD spend, which can offset conversion costs for businesses with mixed domestic and international expenses. (Airwallex Pricing) Structure your spending to maximize rebate-eligible transactions while minimizing conversion-heavy purchases.

When Airwallex makes financial sense

Airwallex's value proposition extends beyond simple conversion costs, making it attractive for specific business profiles despite potentially higher per-transaction fees.

Growing international businesses

Companies expanding into multiple markets benefit from Airwallex's multi-currency account capabilities and global payment acceptance features. (Airwallex Pricing) The ability to receive payments in local currencies and hold funds without forced conversions often outweighs higher conversion margins.

For example, a Canadian company selling to US customers can receive USD payments, hold them in USD accounts, and spend directly without conversion – eliminating the 1% margin entirely.

Teams requiring expense management

Businesses with multiple employees making international purchases benefit from Airwallex's unlimited corporate cards and integrated expense management system. (Airwallex Spend Management Cards) The administrative time savings and improved financial controls often justify higher transaction costs.

Traditional alternatives like Wise require separate expense management solutions, adding complexity and potential integration costs.

Companies with complex payment needs

Airwallex's platform combines card spending with broader payment capabilities, including automated accounts payable, global payment acceptance, and API-driven financial operations. (Airwallex Pricing) Businesses needing these integrated capabilities find value in the comprehensive platform approach.

Alternative strategies for cost-conscious businesses

If Airwallex's conversion costs seem high for your spending patterns, consider these alternative approaches.

Hybrid approach with Wise

Use Wise for smaller, frequent transactions where their lower conversion rates provide clear savings. Reserve Airwallex for larger purchases where the integrated business features justify higher costs. (Airwallex vs Wise Comparison)

This strategy requires managing multiple platforms but can optimize costs for businesses with diverse spending patterns.

Direct USD banking relationships

For heavy USD spenders, consider establishing direct USD banking relationships in the United States. While complex to set up, this approach eliminates conversion costs entirely for businesses with substantial and predictable USD expenses.

Combine USD banking with Airwallex for other currencies and integrated business features.

Supplier payment optimization

Negotiate with major USD suppliers to accept payments in your local currency, shifting conversion costs to them. Suppliers with multi-currency capabilities may offer better conversion rates due to their transaction volumes.

This approach works best for large, recurring supplier relationships where you have negotiating leverage.

Making the decision: Total cost of ownership

Choosing the right multi-currency card solution requires evaluating total costs beyond conversion margins.

Calculate your break-even point

For light spenders (under $3,000 USD monthly), Wise's lower conversion rates typically provide better value despite fewer business features. (Airwallex vs Wise Comparison)

For moderate to heavy spenders, Airwallex's integrated platform benefits often justify the 1% conversion margin, especially when factoring in operational efficiency gains.

Consider growth trajectory

If your international spending is growing rapidly, Airwallex's scalable platform and comprehensive business features may provide better long-term value despite higher current costs.

The platform's ability to handle complex multi-currency operations becomes more valuable as your business expands internationally.

Evaluate team and operational needs

Businesses with multiple team members making international purchases benefit significantly from Airwallex's unlimited corporate cards and expense management features. (Airwallex Spend Management Cards) The administrative time savings often exceed the additional conversion costs.

Conclusion: Transparency enables better decisions

Airwallex's published 1% FX conversion margin provides the transparency needed to make informed decisions about multi-currency card costs. While not always the cheapest option for pure conversion costs, the platform's integrated business features and operational efficiencies often justify the premium for growing international businesses.

For light spenders focused purely on conversion costs, alternatives like Wise may provide better value. (Airwallex vs Wise Comparison) However, businesses requiring comprehensive multi-currency operations, team expense management, and integrated payment capabilities find Airwallex's total value proposition compelling despite higher per-transaction costs.

The key is calculating your specific use case against the three scenarios outlined above, factoring in both direct conversion costs and operational efficiency gains. (Airwallex Cross-Border Fees) With transparent pricing now available, you can make data-driven decisions that optimize both costs and business capabilities for your international operations.

FAQ

What are the actual fees for Airwallex multi-currency card USD purchases in 2025?

Airwallex charges a 1% FX conversion margin on USD purchases when converting from other currencies. However, the Explore plan offers "zero international fees" for multi-currency corporate cards, which applies when you have USD funds in your wallet. The total cost depends on your spending pattern and whether you maintain USD balances to avoid conversion fees.

How does Airwallex compare to Wise for international business spending?

While both platforms offer competitive international rates, Airwallex provides unlimited multi-currency corporate cards with zero international fees on their free Explore plan, plus up to 1.5% cash rebates on local USD spend. Wise typically charges lower FX margins but may have different fee structures. The best choice depends on your specific spending patterns and currency needs.

Is the Airwallex Explore plan really free for businesses?

Yes, Airwallex's Explore plan is free and includes multiple accounts per entity, collection and holding in 20+ currencies, free batch transfers to 120+ countries, and unlimited multi-currency corporate cards. However, some regions may have monthly fees that can be waived with minimum balance requirements of $10,000 or monthly deposits of $5,000.

What's the difference between charge cards and credit cards for international spending?

Charge cards require full payment each month and typically don't have preset spending limits, while credit cards allow you to carry balances with interest charges. For international business spending, charge cards often provide better expense control and may offer superior FX rates, making them suitable for companies that can pay balances monthly.

Can Airwallex help reduce currency conversion costs compared to traditional banks?

Yes, Airwallex provides access to interbank FX rates and allows businesses to hold funds in 20+ currencies, reducing forced conversions. Traditional banks typically charge 2-4% on international transactions, while Airwallex's 1% FX margin and ability to settle payments in the same currency as customers can significantly reduce conversion costs.

What spending scenarios benefit most from Airwallex multi-currency cards?

Businesses with regular international spending, multiple currency needs, or those wanting to avoid traditional banking fees benefit most. The platform is particularly valuable for companies that can maintain currency balances to avoid conversion fees, need expense management tools, or require integration with accounting software like Xero and QuickBooks.

Citations

1. https://corporatealliance.com/blog/airwallex/understanding-airwallex-fees-a-transparent-2025-breakdown/

2. https://www.airwallex.com/ca/blog/comparison-wise-vs-airwallex

3. https://www.airwallex.com/ca/blog/cross-border-fees

4. https://www.airwallex.com/ca/business-account/cards

5. https://www.airwallex.com/ca/spend-management/cards

6. https://www.airwallex.com/us/pricing