Wise vs Airwallex New Zealand: Compare to find the better global account

Key takeaways:

• Both Airwallex and Wise offers multi-currency accounts with local account details for 20+ currencies for NZ$0 monthly fee, but there are key differences in account scope, features you can access, and fees.

• With Airwallex you can transfer funds to 200+ countries compared to Wise's 50+, we won't charge you a fee to set up local account details (Wise charges NZ$40), and we offer online checkout tools, Yield to grow your funds, and more.

• Wise is primarily a money transfer service, whereas Airwallex is an all-in-one financial platform, including powerful expense management and accounts payable, payment gateway features, employee and company cards with spend controls, and more.

For many Kiwi businesses, operating globally is a must for growth. But when international clients and suppliers pay in different currencies, it introduces complexity. Without the right payment solution, this arrangement can result in high costs that eat into revenue.

Airwallex and Wise are two platforms New Zealand businesses look to solve this problem. They offer cost-effective foreign conversion rates, multi-currency accounts that make it easy to operate across borders, and other tools like integrations and corporate cards. But which one is the right fit for your business? This guide offers a breakdown of their features and fees to help you make the right decision.

How does Airwallex work?

Airwallex is a versatile and powerful platform that helps businesses manage money and operate globally with ease. New Zealand businesses can open Global Accounts to collect and hold funds in 20+ currencies, receive funds from 70+ countries, and send funds via local payment rails to 120+ countries or via SWIFT to 200+ countries. They can also accept a wide range of payment methods from customers using our suite of online checkouts, including digital wallets, payment links, and Buy Now, Pay Later (BNPL).

Businesses can also exchange currencies and earn competitive returns on their AUD and USD account balances through Yield. Plus, there are tools to help you run your business more effectively, including virtual and physical corporate cards and analytics to track key information such as accounting data and fraud metrics.

It’s an easy all-in-one solution – especially for growing businesses that want to simplify day-to-day operations and make the most of their money.

How does Wise work?

Wise is a platform primarily for foreign currency conversions and international money transfers, known well for its consumer-facing products. Initially launched in the UK, Wise is now available in many countries, including New Zealand, and offers additional features and tools such as multi-currency accounts and debit cards that provide access to competitive exchange rates when spending abroad.

How do Airwallex and Wise’s features compare in New Zealand?

In-depth: Airwallex vs Wise features in New Zealand

Both Wise and Airwallex are known for competitive currency conversion rates, but each platform brings something different. With multiple payment and financial tools in one place, businesses can simplify operations and get more done without juggling different solutions.

Let’s look at how each platform compares.

Money management 

Airwallex is more than a currency platform – it’s an all-in-one financial platform designed to help businesses grow and scale. Its expense management features support employee reimbursements in 200+ countries, automated receipt-data extraction, and multi-layer approval workflows.

The mobile app makes it easy to submit and approve expenses on the go, while integration with accounting software lets businesses view bills and balances in one place, helping streamline decision-making. 

For businesses seeking more customised options, developers can use APIs to build their own integrations or embedded solutions.

Wise offers a basic service, allowing users to primarily check balances and statements, with fewer money-management tools and customisable options.

Payment methods

Airwallex gives businesses a lot of flexibility when it comes to receiving customer payments. You can collect money online using invoices, payment links, hosted checkout, plugins, or APIs. Airwallex supports 160+ local payment methods, including major cards, digital wallets like Apple Pay and Google Pay, and regional options such as WeChat Pay, Alipay, and GrabPay. 

Airwallex acts as both a payment gateway and a payment processor, so businesses can handle authorisation, settlement, and fraud protection all in one platform, without relying on third-party providers.

Wise, by contrast, is simpler. Wise doesn’t function as a payment processor, so you can’t embed card checkouts on your website or handle end-to-end online payments the way you can with Airwallex. Instead, it allows you to accept payments via payment links or through invoices.

Corporate cards & control features

If your business spends internationally, both Wise and Airwallex offer corporate cards to make life easier, but they do it in different ways. Wise Business cards can be used online or in-store in 40+ currencies and 160+ countries; spending in a currency already held can avoid conversion.

The mobile app gives basic oversight too, with spending notifications, a breakdown of cardholder activity, and the ability to set simple limits and permissions for your team. It’s straightforward and works well for smaller businesses that don’t need a lot of bells and whistles.

Airwallex takes corporate cards further. Its digital and physical cards work anywhere Visa is accepted, giving access to over 20 currencies across 70 regions to funds held in your multi-currency wallet. Cards link directly to the Airwallex dashboard, so tracking employee spending is simple and you have access to advanced spend controls and limits. You can submit and verify receipts all in one place, and AI even extracts details from receipts automatically, cutting down on admin. 

On top of that, Airwallex lets you control which currencies a card can use, restrict spending by merchant category, set transaction limits, and define card validity periods – perfect for larger or more complex teams that need full control.

Fast & efficient payments

For businesses, getting money to the right place quickly and efficiently is essential. Both Airwallex and Wise offer fast payouts and batch payment options, but they handle them differently.

Payout speed

Airwallex delivers fast payments, with 93% arriving on the same day – many instantly. This makes it easy for businesses to move funds quickly, whether paying suppliers, contractors, or international staff. Wise also offers speedy transfers, with over 50% of payments arriving in just 20 seconds and the majority within 24 hours.

Batch payments

Airwallex lets you pay up to 1,000 people in one go, across different currencies and countries via batch transfers. This is a huge time-saver for payroll, refunds, or supplier payments, and helps avoid confusion when sending money globally. Wise also supports batch payments for up to 1,000 recipients, which is handy for businesses looking to streamline simple tasks like payroll or mass refunds.

Integrations

Wise connects with popular accounting tools like Xero, QuickBooks, and FreeAgent³, making it easier to keep payment data in sync and file your taxes. Businesses can access integrations through the App Marketplace.

Airwallex takes things further. As well as offering accounting tools, it provides integrations that span marketing, sales, productivity, and eCommerce (including popular platforms like Amazon and Shopify). Enterprise customers can also sync with HR systems and NetSuite to manage bank feeds, expenses, and bills all in one place. 

That means businesses can keep track of crucial data, run reports, and make informed decisions without jumping between systems.

Earn returns

Airwallex gives businesses the option to earn on their balances with its Yield account. You can earn competitive returns on AUD and USD balances, without any minimum balance or lock-up periods. It’s easy to move money between cash and Yield accounts, and you can even sync balances with Xero to keep your accounting tidy.

Wise also has a service called Wise Interest, which lets businesses earn on certain currency balances – but it’s not available in New Zealand yet.

Regulation

In New Zealand, providers of financial services may need to register on the Financial Service Provider Register (FSPR), and some services also require licensing by the Financial Markets Authority or Reserve Bank¹.

Airwallex is listed on the FSPR, which means it meets local regulatory requirements designed to safeguard businesses and their funds. The Financial Service Providers (Registration and Dispute Resolution) Act 2008 sets out who is required to register².

Wise isn’t currently on the register. Instead, it’s supervised by the Department of Internal Affairs in New Zealand for anti-money laundering purposes³.

Customer support

Wise offers 24/7 customer support through email, phone, and live chat, so help is always available if something goes wrong.

Airwallex takes a more tiered approach. All users get access to its help centre and email support, while businesses on higher-tier plans also receive onboarding support and a dedicated account manager. For companies with complex needs, hands-on support is particularly useful for faster onboarding and solving queries.

How do Airwallex and Wise compare on fees?

Currency conversions 

Wise uses the mid-market exchange rate, while Airwallex uses the interbank rate. In practice, these mean the same thing: both platforms give customers access to the same exchange rates banks use when converting foreign currencies. That said, both providers apply fees on top of the exchange rate for cross-border transfers.

Wise charges an average fee of around 0.22%, with the exact cost depending on the amount sent and the currencies involved. Airwallex applies a markup of 0.5% above the interbank rate for major currencies and 1% for other currencies. However, there are no transfer fees when payments go through local payment rails.

Account fees

Both Airwallex and Wise offer accounts with NZ$0 monthly fees that let businesses hold multiple currencies, make transfers, and access interbank exchange rates.

Airwallex also offers paid plans for businesses that need more advanced tools.

The Grow plan costs NZ$99 per month and includes extra company cards, batched bill payments, customisable multi-level spend approvals, domestic and international bill payments, and automated extraction of receipt and bill data.

The Accelerate plan, priced at NZ$499 per month, targets larger or more complex businesses. It adds enterprise-level features such as purchase orders and requests, deeper integrations (including HRIS platforms and NetSuite), and enhanced customer support.

How Airwallex can help your business grow without barriers

It’s not easy to choose the right payment solution for your Kiwi business.

Both Wise and Airwallex do a great job at offering foreign currency conversions at highly competitive rates. But for businesses that want to do more than avoid steep conversion fees, Airwallex may make more sense, thanks to its advanced feature set.

Here’s where Airwallex stands out:

• Extensive global coverage. The platform gives you local account details for 20+ currencies with no setup fees. This means businesses benefit from a streamlined process that reduces fees and offers convenience for customers worldwide.

• Multiple ways to get paid. In addition to Airwallex's impressive global coverage, businesses can receive payments via a customised checkout, recurring subscriptions, payment plugins, and more.

• Tools to manage expenses and bill payments. You can issue corporate cards to your team and set advanced permissions to control their spending. Plus, take advantage of accounting software integrations, and view everything through an analytics dashboard.

• The chance to earn Yield. Businesses can earn competitive returns on their account balances through Airwallex Yield. This product isn’t offered by Wise in New Zealand.

• Onboarding support for advanced plans. In addition to a help centre and email support, customers who subscribe to Airwallex’s advanced plans receive a dedicated account manager.

• High number of integrations. Manage various aspects of your business (such as eCommerce and marketing) and streamline your processes in one place with Airwallex's extensive integrations, including HubSpot, Shopify, and Zapier.

• Consolidation of payment-related functions. Airwallex combines features of both payment gateways and payment processors, handling everything from fraud detection to payment authorisation.

For New Zealand businesses looking to grow internationally, Airwallex offers a complete, all-in-one platform that simplifies payments, multi-currency management, and financial operations. With advanced tools, flexible integrations, and fast global transfers, it helps businesses save costs, streamline processes, and scale efficiently. 

Frequently asked questions

Is it cheaper to use Wise or Airwallex?

Both Wise and Airwallex use the interbank exchange rate for currency conversions, so you get a fair rate in either case. Both offer free plans, but Airwallex also has paid plans for businesses that want extra features.

Wise vs Airwallex: Who is best for my business?

Wise is a straightforward platform that gives freelancers or micro businesses the essentials for operating internationally, including competitive exchange rates. It’s a great choice for smaller teams or businesses that want a simple, no-fuss solution.

Airwallex, on the other hand, is better suited to growing or medium to larger businesses. It offers more advanced features, including its own payment gateway and processor, as well as extra tools for financial management and customisation. This makes it easier to handle complex operations, control spending, and scale your business efficiently.

What is the main difference between Wise and Airwallex?

The biggest differences are who the platforms are designed for and the range of features they offer. Airwallex is built exclusively for businesses, while Wise also offers personal accounts. Airwallex also provides a wider range of advanced services, including more integrations, more payment methods, extra customer support, and the option to open a Yield account.

References

1. ​​https://fintech.govt.nz/resources/

2. https://fsp-register.companiesoffice.govt.nz/help-centre/registering-a-financial-service-provider-fsp/preparing-to-register/

3. https://wise.com/help/articles/2932693/how-is-wise-regulated-in-each-country-and-region

4. https://wise.com/nz/account/ 

5. https://wise.com/nz/business/card 

6. https://wise.com/nz/business/accounting-software 

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]]. Airwallex (New Zealand) Limited is registered with the New Zealand Financial Service Provider Register (FSP No. 1001602) to provide a range of financial services in New Zealand.

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.nz/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 25 February 2026 (AEDT) and indicate past 7-day annualised returns of the relevant underlying JPMorgan Liquidity Funds.