Airwallex vs Revolut: Compare on fees, features, and benefits in the US

Key takeaways

• Sending a US$200 remittance still costs a global average of 6.3%, against a G20 target of 3% by 2030.¹ Business cross-border payments carry the same layered intermediary costs, and those costs come out of margin.

• Revolut prices its US business accounts on subscription tiers starting at US$10 a month, each with capped allowances. Fee-free transfers and interbank currency exchange run to a monthly limit, after which per-transaction fees apply.²

• Airwallex starts at US$0 per user per month, opens accounts in 20+ currencies without a foreign entity, and charges no transfer fee on local rails to 120 countries with no monthly cap.

Both companies launched in 2015 and serve US businesses with multi-currency accounts, but their monetization models differ. Revolut sells tiers with allowances. Airwallex prices per transaction against a published rate. This comparison covers how Airwallex and Revolut differ on multi-currency accounts, transfers, cards, spend management, and industry fit.

Airwallex vs Revolut at a glance

The bottom line about Airwallex vs Revolut

The decision between Airwallex and Revolut largely depends on transaction volume and how much of the finance operation needs to sit in one place.

Airwallex suits US businesses running sustained cross-border volume. The platform gives companies local account details in 20+ currencies without requiring a foreign entity in each market, collecting funds from 70+ countries and sending to 200+. Conversions run at the interbank rate plus 0.5% for major currencies and 1.0% for others, applied the same way on the first transaction of the month and the thousandth. Airwallex also accepts customer payments online, issues corporate cards to US businesses, and handles expenses and accounts payable on every plan, including the free one.

Revolut provides multi-currency accounts, card issuance, and cross-border transfers on a tiered subscription starting at US$10 a month, with monthly allowances on each tier. Revolut also offers consumer products alongside its business accounts.

Note: Airwallex is a fintech company, not a bank. U.S. customer funds are held with FDIC-insured partner banks, including Evolve Bank & Trust, and are eligible for FDIC pass-through insurance of up to $250,000 per qualified customer account and banking institution.

Airwallex vs Revolut: Key feature comparison

Multi-currency management and local accounts

Airwallex and Revolut both hold multiple currencies, but their account structures differ. Holding a currency differs from receiving it locally. The latter determines whether a conversion occurs on arrival.

Airwallex multi-currency accounts allow businesses to generate local bank details in 20+ currencies without registering a legal entity abroad. A company can give its United Kingdom customers a GBP account number and sort code. Those customers pay a local business. Funds land in the GBP balance without conversion or wire fees. This capability provides maximum value to companies collecting revenue in multiple currencies.

Revolut provides accounts that send and receive 25+ currencies, with local and global account details.

Transfers and FX

Airwallex routes 94% of transactions over local rails rather than SWIFT, and 93% arrive the same day. Transfers over local rails to 120 countries carry no transfer fee, with no monthly limit. SWIFT transfers reach 200+ countries at US$15 to $25 each. FX runs at the interbank rate plus 0.5% for USD, EUR, GBP, AUD, CAD, SGD, CHF, NZD, JPY, HKD, and CNY, and plus 1.0% for all other currencies.

Revolut structures both differently. Each plan includes a fixed number of fee-free transfers per month and a fixed amount of interbank currency exchange:²

• Basic: 10 local transfers, no international transfers, and US$1,000 of interbank exchange

• Grow: 100 local transfers, 5 international transfers, and US$20,000 of exchange

• Scale: 1,000 local transfers, 25 international transfers, and US$80,000 of exchange

• Enterprise: Custom allowances

Beyond those allowances, Revolut charges US$0.20 per local transfer, US$5 per international transfer, and 0.6% on exchange. A 1% fee applies to exchanges made outside market hours. The transaction cost for a business depends on its current monthly allowance usage.

Corporate cards

Corporate cards now function as spend control systems, not just payment instruments.

Airwallex Corporate Cards suit businesses spending across borders. The cards carry 0% foreign transaction fees and draw directly from multi-currency balances, avoiding the markup most domestic cards apply to international spend. Employees can spend in 60+ markets straight from the balance. Every eligible purchase earns 2% uncapped cashback, which benefits firms with heavy digital marketing spend on platforms such as Meta or Google. Cards issue in physical and virtual formats, are free to create, and work with Apple Pay and Google Pay.

Revolut issues physical and virtual business cards for spending in 150+ currencies. The cards draw from existing balances or exchange at the point of payment. Metal cards come complimentary on Grow and Scale, one and two respectively, with a US$49 fee for each card above the plan allowance. A 2% fee applies per ATM withdrawal.

Expense management and bill pay

Airwallex Expense Management covers card spend and out-of-pocket reimbursements in one place, on every plan including Explore. Employees capture receipts and submit expenses from the app. Finance teams route them through multi-layer approval flows, and data syncs to Xero, QuickBooks, NetSuite, and Dynamics 365 Business Central.

Airwallex also applies AI directly inside the spend workflow rather than alongside it. The Expense Policy Agent reviews and enforces expense policy across entities, currencies, and languages, which cuts manual review at month-end. The Grow plan and above include the agent.

Airwallex Bill Pay handles domestic and global supplier payments together, on every plan. Staff upload or email invoices. The system then extracts the data, and the invoice routes through approvals before the platform executes payment and reconciles it to the accounting system.

Revolut offers expenses on every plan. Bills, purchase orders, custom approvals, and analytics start at the Grow plan.

Online payment acceptance

Airwallex operates as a payment service provider in the US. A business can collect card payments and 160+ local payment methods across 180+ countries. Collections occur via no-code payment links, eCommerce plugins, or custom API checkouts. Funds settle directly into 20+ currencies. A US business keeps euro revenue in euros rather than converting on receipt. This structure benefits companies billing international customers directly, since payment acceptance and the account reside on the same platform.

Batch transfers

Airwallex processes up to 1,000 payments in a single batch across countries, currencies, and transfer methods, on every plan including Explore. Revolut's bulk transfers pay up to 1,000 recipients at once across multiple currencies, starting at the Grow plan.

Yield products and treasury

Idle cash costs money to hold. Airwallex Yield offers 3.58% on USD on the Grow plan and up to 3.7% on Accelerate, quoted as a 7-day annualized rate net of fees as of September 2026.

There are no lock-up periods, and funds generally settle back to cash balances within one to two business hours.

Revolut's business treasury tools cover limit and stop orders on currency pairs, available from the Grow plan.²

Embedded finance and APIs

Airwallex offers open API access covering payment acceptance, payouts, FX, card issuing, and account creation, with no plan tier gating access. US platforms can embed these functions in their own products and offer financial services to their customers directly.

Revolut's Business API automates payments and card issuing, available from the Grow plan upward.

How to evaluate Airwallex vs Revolut for a US business

Finance leaders should start by counting last month's transactions. Revolut's pricing depends on allowances. Teams must calculate their monthly international transfers and total currency exchange. A company sending 40 international transfers against a 25-transfer allowance pays the per-transfer fee on the remaining 15. A company converting US$200,000 against the Scale allowance pays 0.6% on everything above it.

The second figure is the share of revenue collected in non-USD currencies. US businesses selling into Europe, the UK, or Asia Pacific typically receive those payments converted to USD on arrival, then convert back when paying suppliers in the same region. Local account details in each currency remove both conversions rather than discounting them.

The third test determines which plan tier unlocks required features. Consider a US company that accepts customer payments, issues employee cards, routes expense approvals, and pays supplier invoices. Airwallex covers all four workflows on every plan, including the free tier. Identifying which tier a platform requires for each workflow reveals the true monthly cost.

Is Airwallex or Revolut better for different industries?

Global eCommerce and marketplace sellers

Airwallex fits this category well. eCommerce margins are thin, and forced conversion eats into them. Marketplaces commonly convert European payouts to USD at a rate that includes a 2% to 3% fee. A US seller using an Airwallex EUR Global Account receives euros natively and can pay European suppliers or VAT from that balance. Airwallex also accepts payments directly through Shopify, WooCommerce, and Magento plugins, which removes the need for a separate gateway.

Software and SaaS companies

Airwallex supports both sides of a US SaaS operation. Multi-currency accounts collect subscription revenue in the customer's local currency, and transfers over local rails pay international developers at no cost. The API handles programmatic payouts, FX, card issuing, and account creation for companies embedding these functions in their own product, with no plan tier gating access.

Scaling service firms and agencies

Airwallex suits agencies with a distributed workforce. An agency can pay contractors in the Philippines, designers in the UK, and developers in Poland in a single batch of up to 1,000 payments, on every plan. SWIFT transfers reach 200+ countries and cost US$15 to $25 per transfer. Agencies can reimburse remote employees in local currency without taking an FX loss.

Frequently asked questions about Airwallex vs Revolut

Can a US business open accounts in foreign currencies without a foreign entity?

Yes, Airwallex Multi-currency accounts provide local bank details in 20+ currencies to a US-registered business, opened online, with no requirement to incorporate abroad or hold a foreign bank relationship.

Is Airwallex or Revolut easier to open?

Both platforms use digital onboarding. Timelines vary by entity type and documentation, so businesses should confirm current turnaround with each provider.

Does either platform offer a free business plan?

Airwallex offers Explore at US$0 per user/month, with no setup fee and no minimum balance. Revolut’s entry-level basic plan starts at US$10 a month.

How do Airwallex and Revolut compare on foreign exchange fees?

Airwallex charges 0.5% above the interbank rate for major currencies and 1.0% for all others, on every transaction. Revolut offers interbank exchange up to the monthly allowance set by plan, then charges 0.6% above that allowance and 1% on exchanges made outside market hours.

Does Airwallex limit how many transfers a business can send?

No, Airwallex does not cap the number of fee-free transfers. Transfers over local rails to 120 countries carry no transfer fee regardless of volume. SWIFT transfers cost US$15 to $25 each.

Are there hidden costs for international wire transfers?

Traditional banks often add intermediary fees. Airwallex routes most transfers over local rails, and transfers to 120 countries are free with no monthly cap. SWIFT transfers cost US$15 to $25. Revolut applies a fee per international transfer beyond the monthly plan allowance, with separate fees for SWIFT OUR transfers.

Is Airwallex better than Revolut for international businesses?

Airwallex fits businesses with significant international collection and payout needs. Airwallex provides local bank details in 20+ currencies and free transfers to 120 countries over local rails, with no monthly cap on how many a business can send.

Is Airwallex or Revolut better for eCommerce businesses?

Airwallex supports eCommerce well. Multi-currency accounts collect marketplace payouts in 20+ currencies without forced conversion, and Airwallex accepts customer payments directly through Shopify, WooCommerce, and Magento as a payment service provider in the US.

Which platform is better for managing employee reimbursements?

Airwallex reimburses remote employees in local currency without an FX loss on every plan, and its Expense Policy Agent enforces policy across entities, currencies, and languages. Revolut includes expenses on every plan, with custom approvals from the Grow plan up.

Does Airwallex offer returns on idle cash balances?

Yes, Airwallex Yield offers 3.58% on USD on the Grow plan and up to 3.70% on Accelerate, quoted as a 7-day annualized rate net of fees.

Sources

1. https://www.swift.com/payments/g20-goals-enhancing-cross-border-payments

2. https://www.revolut.com/en-US/business/business-account-plans/

Disclaimer: We wrote this article in Q4 2026. The information was based on our own online research, and we were 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 every six months. If you would like to request an update, feel free to contact us at [email protected].