Revolut vs Airwallex: Compare fees, features and benefits (2026)

Key Takeaways:

• Revolut Business is now live in Singapore, with four plan tiers ranging from free to S$500/month — each with different transfer allowances, FX limits, and card features.

• Both Revolut and Airwallex support multi-currency accounts, international transfers, and corporate cards, but they differ significantly on pricing structure, payout reach, and payment acceptance.

• Airwallex has no monthly fees for the Explore plan, offers free transfers to 120+ countries via local payment rails, and includes a full payment acceptance suite, making it a strong option for businesses that sell online or operate across borders.

Revolut vs Airwallex is one of the most common comparisons Singapore businesses make when looking for an alternative to traditional business banking. 

Both are licensed fintech platforms built for cross-border operations — but they work differently, and the right choice depends on how your business moves money.

This guide breaks down how each platform stacks up on fees, multi-currency accounts, international transfers, cards, and more, using current pricing as of 2026.

What is Revolut?

Revolut is a UK-based fintech company that offers financial services to consumers and businesses. It launched its consumer e-wallet and debit card in Singapore in 2019, and has since expanded its business product to the Singapore market.

Revolut Business is now available in Singapore. It runs on a tiered subscription model with four plans: Basic, Grow, Scale and Enterprise.

The information in this table has been reviewed to be accurate as of 26 March 2026.

Once you exceed your plan's FX allowance, a 0.6% markup applies. Exchanges outside market hours carry an additional fee of up to 1%.¹

Multi-currency

Revolut Business in Singapore supports multi-currency accounts in 25+ currencies.² Businesses get local Singapore account details and can send and receive FAST payments and TT transfers. For major currencies including GBP, EUR, USD, and CHF, Revolut also provides unlimited incoming transfers.²

Spending

On the spending side, Revolut issues physical and virtual debit cards with spend controls. Each team member can hold up to 3 physical cards and 200 virtual cards.³ For businesses that take in-person payments, Revolut also supports Tap to Pay on iPhone, allowing merchants to accept contactless payments without a card terminal.¹

What is Airwallex?

Founded in 2015, Airwallex is a global financial platform built for businesses that operate across borders. It's used by companies in Singapore and around the world to manage multi-currency accounts, accept payments online, pay international suppliers, and control team spending — all in one place.

Airwallex has no monthly account fee. Here's what's included:

Global Accounts

Open multi-currency accounts in 20+ currencies with local account details, so overseas customers and partners can pay you via domestic transfers rather than expensive international wires. You can hold, receive, and spend funds in currencies including USD, GBP, EUR, AUD, HKD, CNY, and more, without converting everything back to SGD.⁴

International transfers

Send money to 120+ countries with no transaction fees when paying via Airwallex's local payment rails.⁵ Airwallex has transparent FX fees, from 0.4% above the interbank rate.⁴

Online payment acceptance

Accept payments from customers in 180+ countries via card, and 160+ local payment methods including Alipay and WeChat Pay.⁶ Airwallex connects with Shopify, WooCommerce, and Magento via no-code plugins, or you can build a custom checkout via API.

Corporate cards

Issue physical and virtual Corporate Cards for your team (10 free under the Explore plan, 50 free for the Grow plan, or unlimited cards with the Accelerate plan). Cards can be spent directly from multi-currency balances, so your team avoids foreign transaction fees when spending in other currencies.⁴

Expense management

Track and control team spending with built-in Expense Management tools. Staff can capture receipts, submit expenses, and route them through approval workflows. All data syncs with Xero, QuickBooks, and NetSuite.⁴

Bill Pay

Centralise your accounts payable in one place. Upload or email invoices, extract data, send for approval, and pay domestic and international vendors from within Airwallex. Batch payments of up to 1,000 transactions can be processed across currencies and countries.⁵

Yield by Airwallex Capital

Earn returns on idle SGD and USD balances held in your Airwallex account through Yield by Airwallex Capital.⁴

Revolut Business vs Airwallex: How they compare

Here's a side-by-side comparison of both platforms based on current pricing and features as of 2026.

The information in this table has been reviewed to be accurate as of 26 March 2026.

What does an international transfer actually cost?

To make the fee comparison concrete, here's what sending S$10,000 overseas looks like on each platform.

On Airwallex, if you're paying a supplier in the US, UK, or Europe via local payment rails, you pay no transaction fee. The only cost is the FX conversion if you're sending in a foreign currency — 0.4% above the interbank rate for major currencies, which works out to S$40 on a S$10,000 transfer.⁴

On Revolut Business, the cost depends on your plan and how much you've already transferred that month. If you're within your plan's FX allowance, the transfer is at the interbank rate. Once you exceed it, a 0.6% FX markup applies — S$60 on S$10,000 — plus a S$8 flat fee per outbound international transfer beyond your plan's included allowance.¹

Revolut Business: features and fees explained

Revolut Business is designed for businesses that want an all-in-one financial account with a clean interface and flexible plan options. Here's how the key features work in practice.

Multi-currency accounts and local transfers

Revolut Business gives you local Singapore account details, so you can send and receive FAST payments and TT transfers in SGD. For international currencies, you get unlimited incoming transfers in GBP, EUR, USD, and CHF. You can hold and exchange balances in 25+ currencies.²

It's worth understanding the account structure: Revolut provides local account details for SGD, plus the ability to receive major foreign currencies. This makes it straightforward to collect payments from overseas customers in those currencies without routing everything through a wire transfer.

Domestic and international transfers

Domestic transfers within Singapore are free up to your plan's monthly allowance. Beyond that, you pay S$0.20 per transfer.¹

For international transfers, Revolut charges S$8 per outbound transfer once you exceed your plan's included allowance.¹ If you're sending frequently to overseas suppliers or staff, it's worth calculating whether your expected volume fits within your plan's limits.

FX and currency exchange

Within your plan's monthly FX allowance, Revolut exchanges currency at the interbank rate with no markup. Once you exceed the allowance — S$1,500/month on Basic, rising to S$250,000/month on Enterprise — a 0.6% fee applies.¹ Exchanges made outside market hours carry an additional fee of up to 1%.¹

Cards and in-person payments

Each team member can hold up to 3 physical cards and 200 virtual cards, with spend controls per card.³ For retail or pop-up businesses, Revolut supports Tap to Pay on iPhone — letting you accept contactless card payments directly from your phone without a separate terminal.¹

Yield on idle balances

On the Grow plan and above, Revolut offers a Revenue Booster feature that earns interest on idle cash balances.¹ This can be useful if your business holds significant working capital in its account between payments.

Accounting integrations

Revolut syncs transaction data with Xero, QuickBooks, and Zoho to reduce manual bookkeeping.¹

Airwallex: features and fees explained

Airwallex is built for businesses that need more than a business account, particularly those accepting payments online, paying overseas suppliers, or managing team spend across currencies. Here's how the core features work.

Multi-currency accounts

With Global Accounts, you get local account details in 20+ currencies — meaning your customers and partners in the US, UK, Europe, and Australia can pay you via domestic transfers, not international wires.⁴ Funds land faster, and you avoid the SWIFT fees that come with traditional cross-border payments.

You can hold balances in each currency and choose when to convert, which helps you avoid converting at unfavourable rates during volatile periods.

International transfers and FX

Airwallex charges no transaction fees on international transfers sent via local payment rails to 120+ countries.⁵ The FX markup is transparent and competitive, from 0.4% above the interbank rate.⁴

There are no plan-based FX allowances to track: the same rate applies regardless of how much you transfer.

Online payment acceptance

Airwallex's payment acceptance tools let you collect payments from customers in 180+ countries via card and 160+ local payment methods including Alipay and WeChat Pay.⁶

You can connect to Shopify, WooCommerce, and Magento through no-code plugins, or build a custom checkout via API. Settlement goes directly into your Global Accounts in your chosen currency, avoiding unnecessary conversions.

Corporate cards

You can issue physical and virtual corporate cards for your team.⁴ Cards draw directly from your multi-currency balances, so team members spending in USD, GBP, or any other supported currency won't trigger foreign transaction fees. You can set spending limits, lock cards, and manage everything from the Airwallex dashboard.

Expense management

Airwallex includes a full expense management suite: team members can capture receipts on their phone, submit expenses, and route them through multi-level approval workflows.⁴ Finance teams get a consolidated view of all card and out-of-pocket spend. Everything syncs automatically with Xero, QuickBooks, and NetSuite.

Bill Pay

The Bill Pay feature centralises your accounts payable. You can upload or email invoices, extract the relevant data, send for approval, and pay domestic and international vendors, all within Airwallex. Batch payments of up to 1,000 transactions can be processed across currencies and countries in one go.⁵

Yield by Airwallex Capital

Airwallex offers Yield by Airwallex Capital, which lets you earn returns on idle SGD and USD balances held in your account.⁴ This is available directly within the Airwallex platform without needing a separate investment account.

Customer support

All Airwallex customers get access to a Singapore-based support team. Eligible customers can also be assigned a dedicated account manager for more hands-on support.⁴

Frequently asked questions (FAQs)

Is Revolut Business available in Singapore?

Yes. Revolut Business launched in Singapore and is now fully available. It offers four plan tiers — Basic (free), Grow (S$18/month), Scale (S$100/month), and Enterprise (S$500/month) — with local SGD account details, multi-currency accounts, corporate cards, and international transfers.¹

Is Airwallex available in Singapore?

Yes. Airwallex is headquartered in Singapore and is fully operational here. It is licensed by the Monetary Authority of Singapore (MAS) as a Major Payment Institution.⁴

Are Revolut Business and Airwallex regulated in Singapore?

Yes. Both platforms are licensed by the MAS as Major Payment Institutions.¹ ⁴ Your funds are safeguarded in line with MAS regulations.

Does Airwallex charge a monthly fee?

Airwallex’s Explore plan has no monthly account fee, so you only pay for FX conversions, transfers, payment processing, and other transactions.⁴ Explore covers the core features most businesses need (multi-currency accounts, free local transfers to 120+ countries, corporate cards, expense tools, and bill pay), so you don’t have to move to a higher tier if you don’t want to.

For businesses that want more advanced automation, richer controls, and higher Yield rates, you can opt for the Grow or Accelerate plan, both of which come with a fee. 

Does Revolut Business charge a monthly fee?

It depends on your plan. The Basic plan is free. Paid plans start at S$18/month (Grow), S$100/month (Scale), and S$500/month (Enterprise). Annual billing reduces these costs slightly.¹

Which platform is better for international transfers?

Airwallex charges no transaction fee on transfers to 120+ countries via local payment rails, with an FX markup from 0.4%.⁵ Revolut Business charges S$8 per outbound international transfer beyond your plan's included allowance, plus an FX markup of 0.6% once your monthly allowance is exceeded.¹ For high-volume international payments, Airwallex's flat-rate FX model is generally more cost-predictable.

Which platform supports online payment acceptance?

Airwallex offers a full payment acceptance suite — covering 180+ countries, 130+ currencies, and integrations with Shopify, WooCommerce, and Magento.⁶ Revolut Business also offers online payment acceptance, but only covering 32 currencies.⁷

Do both platforms offer corporate cards?

Yes. Airwallex lets you issue physical and virtual corporate cards (10 cards for the Explore plan, 50 cards for the Grow plan, or unlimited cards for the Accelerate plan). Revolut Business allows up to 3 physical cards and 200 virtual cards per team member.³

Can I earn interest on my balance with either platform?

Yes. Airwallex offers Yield by Airwallex Capital on SGD and USD balances.⁴ Revolut Business offers a Revenue Booster feature on the Grow plan and above.¹

Sources

1. https://britcham.org.sg/news/revolut-launches-revolut-business-singapore-aimed-empowering-local-businesses-all-sizes

2. https://www.revolut.com/en-US/business/open-account-online/sg-business-account/

3. https://www.airwallex.com/sg/blog/revolut-singapore

4. https://www.airwallex.com/sg/pricing

5. https://www.airwallex.com/sg/business-account/transfers

6. https://www.airwallex.com/sg/payments

7. https://www.revolut.com/business/accept-payments/

This publication does not constitute legal, tax, or professional advice from Airwallex, nor does it substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Singapore) Pte. Ltd. (201626561Z) is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore.