Wise vs Airwallex: Which is better for Singapore businesses? (2026 guide)

Key takeaways:

• Wise and Airwallex both offer multi-currency accounts, international transfers and business cards, but Airwallex provides broader payment capabilities, including eCommerce checkout and POS.

• Airwallex offers local account details in 21 countries at no additional cost, while Wise charges a one-time S$99 fee to unlock local account details.¹

• Airwallex supports transfers to 200+ countries, compared with 160+ on Wise.²

For Singapore founders, finance leads, and operations teams comparing Wise vs Airwallex, choosing the right setup makes it easier to control transfer fees, streamline cross-border workflows, and support your team. 

This guide breaks down how Wise Business and the Airwallex Business Account differ on features, coverage, pricing, and more.

What is an Airwallex Business Account?

The Airwallex Business Account is an all-in-one global business account provided by Airwallex, which is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore (MAS).

Founded in 2015, Airwallex provides a single platform with everything you need to manage cross-border financial operations in one place.

Unlike Wise, Airwallex only serves business customers and also offers its own payment gateway, helping you save on conversion fees when you receive, hold, and pay in the same currency.

As an end-to-end financial platform, Airwallex simplifies international payments and spend management by helping finance teams track, control, and approve global company and employee spend, whether on corporate cards, reimbursed to employees, or paid to suppliers.

What is the Wise Business Account?

The Wise Business Account is a multi-currency business account that lets companies hold, convert, receive, and send money internationally. Wise uses the mid-market exchange rate for currency conversion and charges a separate, upfront conversion fee.

Previously known as TransferWise, Wise launched in 2011 as an international money transfer service. It later expanded into multi-currency accounts, business accounts, and cards before rebranding as Wise.

Wise Business lets companies hold 49 currencies, receive money using local account details in supported currencies, and make international transfers to suppliers, employees, and other recipients.

For more details, read our Wise Business Account review.

Information in this section is based on Wise’s official website as of 2 Sep 2026.

Airwallex vs Wise: Overview and comparison

Wise and Airwallex offer many of the same core capabilities, including multi-currency accounts, international transfers, business cards, payment acceptance and accounting integrations.

The differences become clearer when you look at the specific features, coverage and how each platform is designed to support global business operations. Here’s an overview:

This information is based on publicly available information accessed on 2 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

Wise vs Airwallex: Feature comparison

Both Wise and Airwallex offer multi-currency accounts, international transfers, payment acceptance and business cards. However, the two platforms differ in their coverage, payment capabilities and the range of financial tools they bring together.

Multi-currency accounts

Both platforms let businesses hold and manage multiple currencies without maintaining separate bank accounts in every market. Wise supports 49 currencies², while Airwallex lets businesses hold and manage 20+ currencies.

Airwallex also connects its multi-currency account to its wider payments and expense ecosystem, so businesses can use the same funds to pay suppliers, settle customer payments, fund corporate cards and manage expenses.

Local account details

Wise provides local account details that businesses can use to receive money in supported currencies, with a one-time setup fee of $99.¹

Airwallex similarly provides local account details in 21 countries, but without an additional fee.

International transfers

Both Wise and Airwallex support international business transfers, including batch payments.

Airwallex supports transfers to 200+ countries, with 94% of transfers routed through local payment rails rather than SWIFT. These local-rail transfers have no transfer fees.

Wise lets businesses send money to 160+ countries² using the mid-market exchange rate, with a variable conversion fee starting from 0.19%.¹ It does not publish a percentage for how many transfers use local payment rails.

Payment acceptance

Both Wise and Airwallex offer payment collection tools, including payment links and invoices. The key difference is the breadth of payment channels available.

Airwallex supports eCommerce checkout and in-person POS payments, which Wise does not. With Airwallex Payments, you can accept 160+ local payment methods in 180+ countries.

Business cards and expense management

Both Wise and Airwallex offer physical and virtual business cards, spending controls and tools to manage employee spending.

Wise lets businesses set spending limits, manage team permissions and approve payments, while Airwallex also supports employee expense submissions, reimbursements and automated receipt matching.

Wise vs Airwallex: Fees and pricing

Both Wise and Airwallex use a pay-for-what-you-use model for many of their services, but their pricing structures differ. Here’s a quick overview:

This information is based on publicly available information accessed on 2 Sep 2026. Information reflects Airwallex's own research and has not been independently verified.

Wise can be cost-effective for businesses primarily using it for international transfers and currency conversion. It uses the mid-market exchange rate with a variable conversion fee, while its Business Account has no monthly subscription fee.

However, note that a S$99 one-time fee applies to unlock local account details in 22 currencies.¹

Airwallex also has no monthly fee on its Explore plan, and businesses don't pay to open an account or access local account details. Instead, you pay for the services you use, such as FX conversion and payment acceptance.

Why Singapore businesses choose Airwallex over Wise

If your business needs more than multi-currency banking and international transfers, Airwallex brings payments, transfers and spend management together on one platform. Here’s what you get with Airwallex:

• More ways to accept payments. Airwallex supports eCommerce checkout and POS payments, while Wise doesn’t. With Airwallex Checkout, you can accept 160+ local payment methods in 180+ countries.

• Reach more markets with international transfers. Airwallex supports transfers to 200+ countries and regions, compared with 160+ countries on Wise. Airwallex also routes 94% of transfers through local payment rails, with $0 SWIFT fees.

• Get paid internationally without an account setup fee. Airwallex provides local account details in 21 countries at no additional cost, while Wise charges a one-time S$99 fee to unlock local account details in 22 currencies.

Frequently asked questions (FAQs)

Is Wise cheaper than Airwallex?

It depends on what you need. Wise can be cheaper for businesses mainly using it for international transfers and currency conversion, while Airwallex can offer better overall value if you also need payment acceptance, corporate cards and expense-management tools in the same platform.

What is the difference between Wise and Airwallex?

Wise focuses primarily on international money transfers, multi-currency accounts and spending, while Airwallex combines these features with a broader range of payment and financial-management tools for businesses, including payment acceptance, corporate cards and expense management.

Is Airwallex safe?

Yes, Airwallex is safe to use. Airwallex uses bank‑grade security, including encryption, strict access controls, and compliance with international standards like PCI DSS and SOC reports, to protect your data and transactions. Client funds are safeguarded with leading global financial institutions in line with regulatory requirements, rather than being lent out like a traditional bank.

Is Airwallex licensed in Singapore?

Yes, Airwallex (Singapore) Pte. Ltd. is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution under the Payment Services Act, and is authorised for services such as domestic and cross‑border money transfer, merchant acquisition, and e‑money issuance. Its affiliate Airwallex Capital (Singapore) Pte. Ltd. also holds a Capital Markets Services Licence from MAS for its Yield offering.

Is Wise licensed in Singapore?

Yes. Wise Asia‑Pacific Pte. Ltd. is regulated in Singapore as a Major Payment Institution by MAS under the Payment Services Act, and also holds a Capital Markets Services Licence under the Securities and Futures Act. This means its payment and investment‑related services for Singapore customers operate under local regulatory oversight.

Sources: 

1. https://wise.com/sg/pricing/business

2. https://wise.com/sg/business/send-payments