Airwallex business account vs Relay business banking: Comparing the fees

Key takeaways

• Global B2B cross-border payment values will exceed US$42.7 trillion in 2026, driving companies toward digital-first multi-currency platforms instead of domestic banking solutions.¹

• Airwallex processes cross-border payments across 120+ countries and holds 20+ currencies directly. Relay limits its services strictly to domestic USD accounts.

• Airwallex operates globally with over 80 financial licenses to process transactions directly. Relay acts as a financial technology company and relies on Thread Bank for deposit insurance.²

  ---

Modern companies treat bank accounts as financial operating systems to manage corporate funds efficiently. When evaluating the best business bank accounts, businesses require financial tools that speed up global expansion rather than create administrative delays. Airwallex gives companies an international financial platform to collect, hold, and spend money globally across 120+ countries.

Airwallex provides local account details in 20+ currencies and avoids intermediary wire costs, making it one of the best business bank accounts for LLCs scaling internationally. Relay supplies a domestic checking product for US businesses that split funds across multiple USD sub-accounts.

Airwallex vs Relay at a glance

Airwallex pricing and fees

Platform plans and account costs

Airwallex offers its Explore plan for US$0 a month with no minimum balance requirements. The Explore plan includes local account details in 20+ currencies and fee-free local payouts to 120+ countries. The Grow plan costs US$12 per user per month (or US$99 per month), adding bill payment approvals and NetSuite software synchronization. The Accelerate plan provides custom rates and dedicated account management for large enterprise operations.

Foreign exchange and international transfer rates

Airwallex charges a transparent 0.5% exchange markup above standard rates for major foreign currencies and 1.0% for minor currencies. The platform routes 94% of international payments over local networks to eliminate intermediary bank deductions. Lower exchange markups save businesses US$1,000 on every US$50,000 sent internationally compared to standard bank rates.

Relay pricing and fees

Tiered subscription structure

Relay offers a Starter plan for US$0/month alongside paid Grow (US30/month) and Scale (US$90/month) tiers. The Scale tier increases savings yield returns to 3.21% APY and raises sub-account limits. A business needs over US$53,000 in savings balances on Scale to earn enough interest to cover the monthly fee.

Money movement fees and account monetization

Relay earns revenue from card transaction fees, currency exchange markups starting at 1.00%, and specific wire fees. Relay charges US$1 per same-day ACH, US$8 per outgoing domestic wire, US$5 per incoming wire, and US$25 for SWIFT transfers. Starter savings accounts earn a 1.19% APY yield.

Airwallex vs Relay: Key features compared

Multi-currency accounts and cross-border transfers

Airwallex provides local bank details in 20+ currencies, enabling businesses to collect, hold, and spend foreign funds directly. The platform uses local clearing networks in 120+ countries to deliver 94% of payments on the same day. Relay holds funds strictly in USD and converts incoming foreign transfers into USD with exchange markups starting at 1% plus wire fees.

Commercial cards and cashback rewards

Airwallex issues unlimited virtual and physical commercial cards linked directly to multi-currency balances. The platform pays up to 2% cashback on eligible USD spending, generating US$2,000 monthly for a company spending US$100,000 on ads. Relay limits accounts to 50 cards, provides zero cashback on debit cards, and restricts cashback to its credit card product in USD.

Accounting and software integrations

Airwallex connects payment acceptance directly with accounting tools including QuickBooks, Xero, and NetSuite. Online merchants collect foreign sales into local accounts and automatically sync transaction data. Relay connects with QuickBooks, Xero, and Gusto for domestic back-office accounting.

Where Airwallex goes further than Relay

Payment acceptance and online checkout

Airwallex provides checkout plugins for ecommerce platforms including Shopify, WooCommerce, and Magento, making it one of the best business bank accounts for eCommerce sellers. Online sellers accept payments in foreign currencies and hold those earnings directly without converting them into USD. Relay does not provide checkout plugins or merchant features. Companies using Relay rely on third-party payment gateways for online customer checkout.

Bill pay approvals and expense automation

Airwallex offers finance teams advanced tools to manage employee expenses and supplier invoices through its Grow and Accelerate plans. The platform automates multi-step bill approvals, captures receipt data, and connects directly with enterprise software including Oracle NetSuite. Relay focuses strictly on basic domestic back-office accounting connections. Relay connects transaction feeds to QuickBooks and Xero but lacks enterprise-level procurement features.

Treasury yield and return on idle funds

Airwallex offers Yield* to help companies earn net returns up to 3.70% on idle USD treasury funds. The platform provides this return without requiring minimum balances or locking up capital. Relay offers up to 3.21% APY on its $90 monthly Scale plan. Relay requires users to maintain large minimum balances to offset the monthly subscription fee through interest earnings.

Global financial infrastructure and licensing

Airwallex operates independently with over 80 financial licenses globally and processes $287 billion in annual transaction volume. The platform holds customer funds securely across major institutional partner banks. Relay operates as a domestic financial technology company rather than an independent banking platform. Relay relies entirely on Thread Bank to manage compliance, process transactions, and supply deposit insurance.²

Why businesses choose Airwallex

Global companies choose Airwallex to reduce transaction fees and expand internationally. Ecommerce brands collect foreign customer payments through platform integrations and pay overseas suppliers directly from those balances. Software firms use the platform to pay international teams through local networks while earning 2.0% cashback on card expenses.

Professional service agencies send exact invoice amounts to overseas contractors in hours without middleman bank deductions. Digital consultancies present local bank details to clients in Europe, the UK, or Asia to speed up invoice settlement.

Frequently asked questions about Airwallex vs Relay

• Is Airwallex a public company? No, Airwallex is a private financial technology company. Airwallex generates over $1.3 billion in annualized revenue and serves 676,000+ businesses. The platform processes more than $287 billion in annual transaction volume.

• Can Airwallex replace a US business bank? Yes, Airwallex handles complete operational banking needs for modern businesses, including domestic ACH, international wires, corporate cards, and expense management. The platform operates digitally, allowing it to invest directly in technology and payment rails.

• Is Relay a bank? Relay is a financial technology company rather than a bank. Banking services and debit cards are provided by its partner, Thread Bank.

• How does Profit First work on Airwallex and Relay? Relay offers certified Profit First features with automatic transfer rules across domestic USD sub-accounts. Airwallex users can set up multiple accounts manually across different currencies, whereas Relay provides automated allocation rules for USD budgeting.

Sources

1. https://www.businesswire.com/news/home/20210830005018/en/Juniper-Research-B2B-Cross-border-Payment-Transaction-Values-to-Exceed-%2442-Trillion-in-2026-as-eCommerce-Marketplace-Growth-Stimulates-Trade

2. https://relayfi.com/hc/en-us/articles/15337736607380-Insured-cash-sweep-program-FDIC-insurance-up-to-3M-via-Thread-Bank/