Revolut Business vs Airwallex: which is best for French SMEs?

Key takeaways

• As your French SME scales internationally, you face some unique challenges. From managing cross-border payments and multi-currency settlements, to FX costs. So having the right banking solution in place is a must.

• If your French business only occasionally trades internationally, Revolut Business might offer all you need for now. You can access multi-currency banking through a plan-based fee structure, perfect for small businesses.

• But, if you have international growth on your mind, you’ll need a robust global financial infrastructure to support you as you scale. Airwallex offers local collection accounts in more 23+ currencies, payout to 150+ countries, multi-currency corporate cards, and transparent FX margins.

There's no doubt that expanding beyond domestic borders can be challenging. And, choosing the right international banking partner is something that can heavily influence your expansion success.

Your banking infrastructure impacts every aspect of your business: from margins and cash flow to operational efficiency. So, finding a banking solution that gives you access to both lower costs and better global capabilities is non-negotiable.

In this article, we’re comparing two of the best banking solutions for French SMEs: Revolut Business and Airwallex. Hopefully, this blog will give you a clear framework to help you decide which platform best supports your expansion strategy.

What is Revolut Business?

Revolut Business is the business side of Revolut (known for its consumer banking app). The business arm is aimed at freelancers, SMEs, and any company looking for digital-first banking solutions.

Revolut Business provides customers with:

• Multi-currency accounts (where you can hold and exchange over 35 currencies)

• Physical and virtual debit cards

• Basic expense management tools

• Integration with accounting software (e.g., Xero and FreeAgent)

What is Airwallex?

Airwallex is a global financial platform and is specifically designed to help solve complex cross-border payment challenges for businesses expanding internationally.

Airwallex provides customers with:

• Multi-currency accounts with local bank details in 23 currencies

• Cross-border transfers to 150+ countries (often using local payment rails to keep costs down and speed up settlement times)

• Physical and virtual corporate cards

• Robust APIs for embedded finance solutions

• Comprehensive spend management tools

Why Airwallex makes sense for international French businesses

As your French business scales, you need a fintech solution that effortlessly scales with it. Here’s why Airwallex could make sense for your business:

Save money with lower FX costs and transparent pricing. Every finance manager looks closely at costs and where they can cut them. Well, with Airwallex, you can save substantially by accessing lower FX costs and making good use of our transparent pricing.

If you’re regularly making and receiving international payments, FX margins compound quickly. Sending money through Airwallex’s local rails can cost you between 0.5% - 1% above the interbank rate. But some banks can charge £15 for one transaction sent through the SWIFT network.

Eliminates unnecessary conversions with local collection accounts. Delayed settlement times and expense currency conversions are two sticking points when dealing with international payments. But by using Airwallex, you can access local bank account details in more than 23 currencies. So your American customer can pay you in USD to a US account, and your British clients can pay GBP into your UK account.

This way, you avoid forced conversions, reduce your customers’ fees, and the payment settles more quickly.

Simplify vendor and contractor payments with a global payout infrastructure. To maintain cash flow and supplier relationships, you need a reliable payment infrastructure. That means being able to pay your suppliers, service providers, and contractors around the world without relying on slower SWIFT transfers. You can use Airwallex to send payouts to 150+ countries, tapping into local payment rails. This process is much faster and significantly cheaper.

Reduce international transaction fees with multi-currency corporate cards. If you have global software subscriptions to pay or team members who travel frequently, they can spend in local currency, drawing from the local currency balance to avoid conversion fees.

Good for French companies expanding beyond Europe. Both Revolut Business and Airwallex can manage European transactions. But for French companies expanding into non-European markets, Airwallex can offer an extensive local account network across places like Asia-Pacific and North America. So, operating in these markets just got a whole lot easier.

Revolut Business vs Airwallex compared

Sometimes, a snapshot can be really useful when comparing your options. Here’s a table to help you quickly compare the two.

FX and international transfer fees: what your global business pays

Hidden expenses can really trip up your business if you're not careful. If you get hit by some unforeseen expenses, you won't be able to accurately forecast, or plan and manage cash flow.

Two of the biggest hidden expenses for international business are foreign exchange costs and transfer fees. Let's cover what these fees are like with both Revolut Business and Airwallex.

Revolut Business: tiered allowance system

The Revolut Business ‘Grow’ plan, for example, allows customers exchange up to £15,000 monthly at the interbank rate (during market hours), and get a no-fee international transfer allowance. But, once you go beyond that, they apply a markup to the exchange rate and can charge additional transaction fees, too.

Airwallex: no monthly allowances, just consistent FX margins

Airwallex offers consistent FX margins ranging from 0.5% to 1% above the interbank rate, regardless of volume. This transparent approach can make it easy for businesses to forecast and budget accurately for all international operations.

Research found that transferring money internationally can cost an average of 11.7% of the transaction in fees, which is pretty expensive. Airwallex is drastically reducing this percentage by offering a sound, global payment infrastructure.

The impact on margins and cash flow

From afar, the costs might not seem considerable. But as your business grows, the cost structure becomes critical.

Let’s say you have €40,000 a month in international transactions.

With Revolut Business, if you have the ‘Grow’ plan, your first €15,000 can be exchanged at interbank rates. But you would incur additional fees and markups for the other €25,000. These costs eventually compound.

With Airwallex, you pay a consistent 0.5-1% margin on all €40,000. And as volume increases, there’s no surprise fees waiting for you; you know you’re going to be charged the exact same going forward. And if you make use of local payment networks, you save again because you’re not paying to forcibly convert your money.

Multi-currency accounts and local collection for EU and global markets

If you operate internationally, you need to be able to efficiently send, receive, hold, and manage multiple currencies.

Revolut business: Single IBAN model

Revolut Business offers customers a single IBAN that consolidates multiple currencies under one account structure. The account allows you to hold 35+ currencies in separate balances within the same account.

Airwallex: Local receiving accounts in multiple currencies

Instead of a single IBAN like Revolut Business, with Airwallex, you receive local account details in more than 23 major currencies. So, if you have an American customer, they can pay you exactly as they would another US-based business, using ACH transfers. Helping keep costs down while building a trusting and familiar relationship with your company (because they’re used to ACH).

Each local payment method, regardless of currency, is faster and cheaper for your customers than international wires.

Benefits for French companies expanding to non-Euro markets

If you’re expanding your business beyond the Eurozone, you’ll find Airwallex’s local account infrastructure very beneficial:

• Reduced customer friction. When you invoice international customers with local account details, you remove their need to understand and budget for currency conversion charges. 54% of customers are unlikely to return to online stores that do not transparently disclose additional fees like currency conversion and international transaction fees. So, with an Airwallex local account, this is no longer a concern for you or your customers.

• Lower collection costs. You can save substantially more money if you’re receiving hundreds of international payments each month. With a local account, you bypass forced currency conversions and extortionate international wire fees on every incoming payment.

• Faster payment receipt. Using local payment rails means your payment settles in just 1-2 business days, instead of up to five with SWIFT. This can help improve cash flow.

• Easy reconciliation. You can see where every payment started from and which customer paid you. So, reconciliation is much easier as you don’t have to track international wires equipped with incomplete remittance information.

Business cards and spend management features

Both Revolut Business and Airwallex offer card solutions, but which features suit your business needs better?

Revolut Business: Virtual and physical multi-currency cards with spending controls

You can easily issue cards (physical or virtual) to team members and set basic spending controls, including spending limits per card, custom approval workflows, merchant restrictions, etc.

The payment platform includes expense management features, allowing employees to upload receipts and categorise spending. Plus, you can sync it with market-leading account software to maximise efficiency.

Airwallex: Multi-currency cards with advanced spend management features

Designed for companies operating across multiple currencies and markets, the Airwallex multi-currency card lets you spend directly from any of your currency balances without conversion fees.

Let’s say you hold USD, GBP, EUR, and AUD in your multi-currency account. Your card will intelligently spend from the correct balance based on the transaction currency. Meaning you don’t have to give it a second thought, you can just spend without manually calculating FX costs or changing currencies.

Airwallex advanced card features include:

• Ability to free or cancel cards instantly

• Create single-use virtual cards for extra security

• Implement granular spending controls, such as setting up multi-level approval workflows

• Improve expense accuracy with mobile app receipt capture

• Set spending limits that reset daily, weekly, or monthly

• Integrate major accounting software to enjoy synced, real-time expense data

Global payout and supplier/vendor payments: ready for international operations

Paying international suppliers, vendors, and contractors is essential. It helps you build a positive relationship and keeps cash flowing.

Revolut Business: Limited by plan allowances

The platform caps your capabilities based on your subscription tier. So, the basic plan allows zero no-fee international transfers; the grow plan allows five, etc. And although the platform supports transfers to many countries, its coverage isn’t comprehensive. Having said that, if you’re a smaller business only making occasional international payments, this structure is perfectly adequate.

Airwallex: Comprehensive global payout network

Airwallex offers customers a substantially broader payment infrastructure because that’s what it’s built for. The platform supports transfers to more than 150 countries and leverages local payment rails wherever possible. This helps optimise your transaction for both speed and cost. These transitions settle in just 1-2 days.

Payout capabilities include:

• Batch payment processing. Upload your CSV with multiple payee details and process them all at once. Drastically reducing admin time.

• Multi-currency payouts. Pay your suppliers in their preferred currencies without incurring forced-conversion fees. That means better rates for you and the vendor, and fewer rejected payments.

• Real-time visibility into payment status. View payment status, expected settlement dates, and delivery confirmation. Keeping everyone in the loop.

• Automated workflows. Set up recurring payments and approval chains.

Pros and cons: Revolut Business vs Airwallex

Understanding the strengths and limitations of each option is essential. How else will you know which one aligns with your business needs and growth plans? Here's a pros and cons list for both providers:

Revolut Business: pros and cons

Airwallex: pros and cons

Scale your French business globally with Airwallex

Your choice of banking partner directly impacts your ability to compete in international markets. Every percentage point saved on FX margins, every day gained in payment settlement, and every hour freed from manual reconciliation compounds into a significant competitive advantage.

If you're ready to move beyond plan-based limitations and build a truly global financial infrastructure, Airwallex is designed for exactly that.

Open an account today and access local collection accounts in 23+ currencies, transparent FX margins from 0.5%, and the payout infrastructure you need to operate seamlessly across 150+ countries.

Frequently Asked Questions (FAQs)

Can I use both Revolut Business and Airwallex together?

Yes, you could always use Revolut Business for European-only operations and Airwallex for global markets. But using the two together could be unnecessarily complex, and as you scale, consolidation is key.

How long does it take to set up an Airwallex account in France?

Typically, account setup takes just 1-3 business days after you submit your business documentation. You might be able to access basic features while you await full verification.

Should I close my French bank account if I switch to Airwallex?

No, you don’t have to. Many businesses keep hold of their French accounts for domestic operations and utilise Airwallex for international payments, multi-currency collections, and global transfers only.