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

Key takeaways

• Both Wise and Airwallex offer multi-currency accounts with competitive FX rates and wide currency coverage for Australian businesses.

• When you compare Wise vs Airwallex, look at multi-currency support, fee structures, global payout coverage, and the range of business tools each platform offers.

• 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're running a business and want to grow internationally, you've probably seen both Wise and Airwallex come up as options for managing global finances. Both platforms offer multi-currency accounts and competitive FX rates, but they differ in scope, pricing, and the range of business tools they offer.

In this guide, we'll walk through how Wise and Airwallex compare on features, fees, and global coverage, so you can choose the right fit for your business.

How does Wise work?

Wise, originally called TransferWise, launched in 2011 as an international money transfer service for consumers. Over time, it expanded into business services, although its roots are still in the consumer market. The platform has built a reputation for transparent pricing and currency conversion using the mid-market exchange rate.

Wise Business offers multi-currency accounts to hold and convert funds in 40+ currencies¹⁰, accepts payments in 22 currencies with local banking details⁴, and supports transfers to 70+ countries². The platform serves both individual consumers and businesses, with a business model focused mainly on international transfers and currency conversion. So, how does Airwallex compare?

How does Airwallex work?

Founded in 2015 in Melbourne, Airwallex is a financial platform built for businesses that need to manage money across borders. Unlike Wise, Airwallex gives you an all-in-one platform designed specifically for business needs, from accepting customer payments to paying suppliers and contractors internationally. Today, more than 200,000 businesses use Airwallex, processing over US$266 billion in payments annually.

With Airwallex, domestic and international customer payments go into a multi-currency account that supports 70+ currencies and local banking details in 20+ currencies. Businesses can then pay suppliers and contractors abroad with fast transfers to 200+ countries, with no transfer fees on local rails in 120+ countries; flat SWIFT fees apply for other destinations. Airwallex also offers online payment acceptance, Corporate Cards, Expense Management, and Yield (a high-rate saver), so businesses get a set of financial tools under one platform.

Now that we've covered the basics, here's how the two platforms compare side by side.

Airwallex vs Wise: Head-to-head comparison

Airwallex vs Wise: Fees compared

Airwallex and Wise use different pricing models. With Wise, it's free to sign up for an account and free to hold money in your account. But you pay to open local foreign currency accounts, top up external wallets, withdraw money using your card, and convert money.

Airwallex has three different pricing tiers, starting from A$0 per month if you meet certain requirements. Those tiers include free local transfers to 120+ countries, 21 local foreign currency accounts, payouts to 200+ countries, access to Yield, Corporate Cards, and more.

Wise fees explained

For Wise Business account holders, fees include:

• Account opening: Free to register, with an A$65 one-time fee to set up local account receiving in 22 currencies.¹

• Monthly fees: No ongoing monthly fees.¹

• International transfers and FX conversions: Fixed fees plus variable fees may apply, starting from 0.63% per transfer. This varies by currency and the rails used, for example local or SWIFT, and volume discounts may also apply.²

• Employee spending: A one-time A$6 fee for each card for team members. Cash withdrawals from ATMs over A$400 per month per account incur a 2.69% fee on the amount over A$400, and topping up your eWallet may also incur a fee.³

• Wise Interest: If you want to keep money in an interest-earning fund, there's a 0.72% annual fee.⁹

Airwallex fees explained

For Airwallex users, fees include:

• Account opening: No setup fees.

• Account pricing: The Explore bundle is A$0 per month if you deposit at least A$5,000 per month or hold a minimum balance of A$10,000. Otherwise, it's A$29/month. See all our pricing here.

• International transfers and FX conversions: There are no transfer fees when you use local payment rails in 120+ countries, and flat fees apply for SWIFT transfers. You can transfer to 200+ countries in total. The FX rate is the interbank rate + 0.5% for USD, HKD, CNY, AUD, EUR, GBP, CAD, SGD, CHF, NZD, and 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% + A$0.30; international cards for 3.40% + A$0.30; and local payment methods for A$0.30 + the payment method fee.

Quick fee comparison

Beyond pricing, let's look at how the platforms compare on specific features.

Online payments

Wise offers payment links and QR codes to businesses looking to accept payments. Airwallex is a fully functioning payment gateway that lets businesses collect customer payments online, including card payments and 160+ local payment methods in 180+ countries.

Corporate Cards

Wise offers debit cards for A$6 per card³. Teams can make multi-currency payments online and in-store, either with a physical card or through a digital wallet. There are fees for withdrawing money over A$350 per month and also fees for converting money, but there are no fees to spend funds if you've got the currency available.

Airwallex Corporate Cards can be used anywhere Visa is accepted. You get 10 cards with the Explore plan. The cards are available on Apple Pay and Google Pay, and they also come with extensive card controls and no additional fees to spend. If you want to add extra Airwallex card users, it's A$15 per user per month.

Expense Management

While Wise has basic card control features⁷, Airwallex gives teams the tools to track and control spend globally, whether that's on cards or through reimbursements for out-of-pocket expenses. That includes approval workflows, receipt capture, and real-time visibility into spending. All expense data syncs with popular accounting integrations.

Bill Pay and accounts payable

Airwallex brings accounts payable workflows into one place, so finance teams can consolidate domestic and global supplier payments. Both Wise and Airwallex integrate with Xero and QuickBooks, and both can process batch payments of up to 1,000⁶. Airwallex also integrates with NetSuite for businesses that need enterprise-level accounting.

Yield

Airwallex gives all users access to Yield, a high-rate saver that lets businesses earn on idle AUD and USD funds. Yield has no lock-in periods, competitive rates of return, and instant withdrawals (0.2% fee on the Explore plan; free on Grow and above)..

Wise offers Interest, an investment option for personal and business users⁹. There's a 0.72% annual fee to use Wise Interest, and daily gains are added every working day rather than being available on-demand.

APIs and integrations

Airwallex offers advanced APIs that let technical teams build custom integrations and automate financial workflows. That includes automating payouts, embedding payments into platforms, and connecting to accounting software. Wise offers an API with capabilities including automated transfers, invoice payments, and rate tracking, though with fewer developer features than Airwallex's advanced embedded finance and custom integration APIs⁸.

Customer support

Both platforms offer 24/7 online customer support. Airwallex goes one step further by also providing account management and onboarding help for eligible businesses.

Summary: Wise vs Airwallex

Choosing between Wise and Airwallex comes down to what your business needs. Here's a simple way to think about it.

Wise can work well for sole traders or freelancers who mainly need to send money internationally with transparent, predictable pricing. If your needs are simple, like receiving payments in a few currencies and making occasional transfers, Wise's simplicity can be a plus.

That said, Wise has limits for growing businesses. It doesn't offer a full payment gateway or embedded checkout for Australian businesses, supports payouts to fewer countries (70+ vs Airwallex's 200+), and has a consumer-first design, which means fewer business-specific tools like Expense Management or Bill Pay.

Airwallex is built for businesses that need more than transfers. If you're an international eCommerce business taking payments from customers in Europe and paying suppliers in Asia, you need a platform that handles both sides, and that's where Airwallex fits.

Airwallex suits growing businesses, eCommerce and SaaS companies, businesses with international suppliers or contractors, and teams that need spend management. You get payment acceptance, Corporate Cards, Expense Management, Yield, wider payout coverage, and advanced APIs, all on one platform.

Why businesses choose Airwallex over Wise Business

While Wise Business offers solid rates and transparent pricing for basic international transfers, Airwallex gives companies a more complete solution if they're looking to grow, want to reduce FX fees, or want access to a wider set of features and tools.

Key advantages of Airwallex:

• Built 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 70+ countries, with approximately 95% of transactions settling same-day.

• Full online payment gateway: Accept customer payments online with 160+ local payment methods through Airwallex’s multiple checkout options including low-code checkouts, plugins and payment links. Wise lets you accept customer payments through payment links and QR codes but does not offer a way to embed a checkout to a website.

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

• One platform for everything: Payments, transfers, FX, Corporate Cards, Expense Management, and Yield, all in one place.

• Advanced APIs: Developer tools for businesses that need custom integrations.

Airwallex brings together collections, payouts, FX, and spend management on one platform, so you can focus on growing your business instead of juggling multiple providers.

Frequently asked questions

What's the difference between Airwallex and Wise Business?

Airwallex is built for businesses and offers a full financial platform, including payment acceptance, multi-currency accounts, Corporate Cards, and Expense Management. Wise Business is focused mainly on international transfers and multi-currency accounts, and it serves both consumers and businesses. Airwallex supports transfers to 200+ countries, while Wise Business covers 70+ countries.

How do fees compare between Airwallex and Wise?

Airwallex charges no setup fees and offers plans from A$0/month, with FX at interbank + 0.5–1.0% and no transfer fees on local rails in 120+ countries. Wise Business charges an A$65 fee to access local account details for certain currencies and has no monthly fees, with transfer fees starting from 0.63% plus the mid-market exchange rate.

Can I accept customer payments with Airwallex and Wise?

Airwallex provides a full payment gateway so businesses can accept customer payments online, including card payments and 160+ local payment methods in 130+ currencies. Wise offers payment links for Australian businesses but does not provide a full payment gateway or embedded checkout solution.

What's the downside of Wise for businesses?

Wise doesn't offer a full payment gateway for Australian businesses, supports payouts to fewer countries (70+ vs Airwallex's 200+), and has a consumer-first design that limits business-specific features like Expense Management and Bill Pay. For businesses that need more than basic transfers, those gaps can start to feel limiting.

Is Wise or Airwallex better for small businesses?

It depends on what your business needs. Wise suits sole traders focused on simple international transfers with transparent pricing. Airwallex suits growing businesses that need payment acceptance, Corporate Cards, Expense Management, and wider global coverage, all on one platform.

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.