BILL invoicing vs Airwallex invoicing: Fees, features, and global reach compared

Key takeaways

• Atradius reports that 43% of US credit-based B2B sales are overdue, and 5% of long-overdue invoices are written off.¹

• When choosing between BILL and Airwallex invoicing, start with where your customers are, because that determines whether multi-currency collection is a capability you need or one you will never use.

• BILL invoicing is preferred for domestic, approval-heavy receivables, while Airwallex is the best fit for businesses that want invoicing at no per-seat cost and settlement in the currency their overseas customers pay in.

Automating receivables is meant to shorten the time between issuing an invoice and banking the money, and both platforms achieve that for a US customer paying in dollars. The comparison changes the moment an invoice goes out in euros, because only one of the two can hold euros once they arrive.

This guide compares BILL invoicing and Airwallex Invoicing across fees, payment methods, multi-currency settlement, and accounting sync.

BILL invoicing vs Airwallex invoicing at a glance

BILL invoicing overview

BILL automates the administrative work around domestic receivables, and it does that well. An invoice generates from a template and then follows whatever approval path you have built for it, keyed to a dollar threshold or a department code. From there it posts to QuickBooks or Xero, with NetSuite and Sage Intacct available on higher tiers.

Licensing runs per user across four tiers, with per-transaction fees charged on top.² Two constraints matter if you bill outside the US. The entry tier includes no automatic accounting sync, and BILL clears in dollars, which means a foreign-currency payment is converted on arrival at a rate the company does not publish.

Airwallex invoicing overview

Airwallex approaches receivables from the payments side. You create and send invoices with no code, set recurring schedules, and reconcile automatically, without paying for seats, and invoices can be raised in more than 130 currencies.

Payments settle like-for-like into Airwallex Business Accounts, which collect funds natively from 70+ countries using local account details in 20+ currencies. A euro invoice remains in that currency upon payment, allowing you to send funds directly to a European supplier..

BILL vs Airwallex invoicing fees compared

Subscription and per-seat costs

Seat pricing charges you for the approvers your controls require, meaning a five-person finance team on BILL's Corporate tier pays $445 a month, or $5,340 a year, before processing anything. Invoicing is free on every Airwallex plan, and the Explore plan costs $0 per user per month with up to 10 Spend users included. Full conditions are set out on the Airwallex pricing page.

Payment acceptance rates

Payment acceptance rates decide how much of your billed revenue actually arrives. Cross-border card payments fail more often than domestic ones, usually because the transaction routes through an international scheme rather than a local acquirer. BILL processes cards through domestic gateways at 2.9%, and Airwallex holds local acquiring licenses in 35+ markets, routing card payments through its Optimize 360 engine, which the company reports can deliver up to 2.6% higher approval rates.³

Transfer and FX costs

BILL's domestic rails are inexpensive and predictable, but its cross-border pricing is where the cost is harder to see. Airwallex publishes 0.5% above interbank for major currencies and 1.0% for the rest, sends free local transfers to 120+ countries, and reaches over 200 countries in total through Airwallex international transfers.

Key differences between Bill vs Airwallex invoicing

Multi-currency invoicing and like-for-like settlement

Multi-currency settlement is where the two platforms separate. BILL runs on a single currency, where anything else is converted on arrival and you absorb the spread without seeing it quoted. Airwallex settles like-for-like, meaning a sterling invoice paid in that currency remains sterling until you decide otherwise, which makes the conversion a decision you time rather than a cost you inherit.

How customers pay: portals, payment links, and QR codes

BILL sends buyers to a hosted portal, where they enter bank or card details and pay by ACH or check. That works for a US customer paying a US supplier. Airwallex offers the buyer more ways to pay, including no-code Airwallex Payment Links and QR codes, so an overseas customer can settle through the method they already use.

Recurring billing and failed payment retries

Recurring invoices and due-date reminders are standard on both platforms. Airwallex adds automated dunning, retrying a failed payment up to four times while prompting the customer to update their card details.⁴ On a subscription book, those retries recover revenue that would otherwise reach your collections queue.

Accounting and ERP sync

BILL gates integrations by tier, which is the detail that most often changes the real price, while Airwallex includes Xero and QuickBooks Online sync on its free Explore plan, with NetSuite and Dynamics 365 on Grow. Incoming Airwallex payments match against open receivables automatically, including in currencies other than the ledger's base currency.

Fraud prevention and payment security

BILL protects domestic disbursements with Positive Pay controls and risk-clearing accounts, which suit a check and ACH threat model. Airwallex meets PCI DSS, SOC1, and SOC2 standards and screens card payments through Optimize 360 across its acquiring markets, which suits a wider payment surface.

Verdict: Should you choose BILL or Airwallex for invoicing?

If your customers pay in currencies other than dollars, choose Airwallex. If every invoice you issue is settled in dollars by a US customer, BILL may be the right choice. Review the criteria below to determine whether Airwallex or BILL is right for you.

Choose BILL if:

• Your customers are based in the US and pay in dollars, which makes multi-currency settlement irrelevant to you.

• You need layered internal approvals keyed to dollar thresholds, departments, or locations.

• You already run payables through BILL's vendor network and want receivables on the same platform.

Choose Airwallex if:

• You invoice customers outside the US and want to bill them in their own currency.

• You also pay suppliers overseas and would rather spend foreign revenue than convert it twice.

• Your approver list is longer than your finance team, so per-seat pricing costs you more than it controls.

• Card decline rates on foreign customers are slowing your collections.

Airwallex Invoicing is included on every plan, including the free Explore tier. See a demo or open an account to send your first invoice in a currency your customers already pay in.

Frequently asked questions about Bill invoicing vs Airwallex invoicing

Can you use BILL and Airwallex invoicing together?

Yes, you can use BILL and Airwallex invoicing together, and plenty of finance teams do. A common split keeps BILL for domestic vendor approvals and uses Airwallex for international receivables, so foreign currency collected from customers sits ready to pay foreign suppliers instead of converting to dollars and back.

How long does an invoice payment take to reach your account on each platform?

An invoice payment takes as long as the rail it travels on rather than the platform that issued it. BILL's standard domestic ACH settles in two to three business days, with same-day available for $11.99. Airwallex routes through local clearing networks in 120+ countries, which in most corridors delivers faster than a correspondent-bank wire.

Do you need a local entity to collect in a foreign currency?

No, you do not need a local entity to collect in a foreign currency. Airwallex collects funds from 70+ countries on a single profile, and opens accounts with local details in 21 of them, meaning an overseas customer can pay domestically in their own market. No conversion happens on arrival.

Is there a minimum balance or monthly volume requirement on either platform?

Neither platform sets a minimum invoice volume. BILL charges its per-seat subscription whether you send one invoice a month or a thousand, making the cost floor is your headcount. Airwallex charges on transactions and conversions rather than a fixed monthly software fee, which means a quiet month costs less.

How do refunds and chargebacks work on each platform?

Refunds work through the original rail on both platforms. BILL handles reversals through ACH returns and credit memos against the open balance in the ledger. Airwallex issues full or partial refunds from the held balance in the original currency through the dashboard or API, ensuring a euro refund goes back to the customer as euros.

Can your accountant get access without paying for a seat?

On BILL, an external accountant either occupies a paid seat or connects through the separate Accountant Console. On Airwallex you can grant an accountant or auditor role-based access at no additional cost, because invoicing is not priced per user. That difference matters most when several people only need occasional visibility.

What happens to unpaid invoices if you switch platforms?

Because unpaid invoices live in your general ledger rather than the billing tool, they survive the move. Export the outstanding list from BILL before closing the account, then reissue anything still unpaid as an Airwallex invoice or payment link. The reissued invoice reconciles automatically against the open invoice in Airwallex when it settles.

Sources

1. https://group.atradius.com/knowledge-and-research/reports/b2b-payment-practices-trends-in-north-america-2025

2. https://www.bill.com/product/pricing

3. https://www.airwallex.com/us/payments

4. https://www.airwallex.com/us/billing/invoicing