ANEXT Bank vs Airwallex: Airwallex brings businesses beyond borders
ANEXT focuses on online banking services for Singapore’s SMEs, while Airwallex goes further, offering broader coverage across currencies and countries through a comprehensive financial platform. It removes cross-border complexity, lowers costs, and gives you the speed to scale. See why more businesses are choosing Airwallex as their financial partner to grow beyond Singapore. Open your account instantly today.
3 reasons why businesses choose Airwallex over ANEXT
Go truly global
Airwallex offers global payouts that bypass SWIFT, reaching 200+ countries with up to 1,000 transfers for batch payments. In contrast, ANEXT relies on SWIFT transfers, supports only up to 100 transfers per batch, and limits payments to SGD.
Go-to-market fast
Open a global multi-currency account for international business payments in over 70 countries instantly, compared to ANEXT being only in Singapore. With Airwallex, you’ll also get local bank details in 23+ currencies vs ANEXT’s 4, giving you savings on conversion and transaction fees.
Go beyond a digital bank
While ANEXT covers the essentials of a local digital bank, Airwallex not only provides these core services, but goes much further — offering a comprehensive platform with payment links and gateways, corporate cards, expense management, and accounting software integrations, all built for businesses with global ambitions.
Multi-entity, multi-country for true global reach
Airwallex stands out as a truly global financial platform with features designed for international operations. Get local bank accounts in 23+ currencies across 60+ countries and say goodbye to costly conversions and transaction fees. Connect to local payment networks in 120+ countries and bypass SWIFT fees.
Join Singapore businesses like Love, Bonito, EU Holidays, and Igloohome already using Airwallex to fuel their international growth beyond what traditional digital banking can support.
Compare ANEXT and Airwallex features
ANEXT offers basic services, limited currency options, and higher international fees. With Airwallex, you’ll experience fast international transfers, comprehensive payment acceptance, transparent bank-beating FX rates, and integrated spend management. Your business needs a financial infrastructure that grows with you, not limitations that hold you back.
Save on transaction fees with Airwallex
Overall, Airwallex offers lower transaction fees.
What local businesses are saying about Airwallex
“Airwallex is a fantastically simple yet sophisticated platform that maximises the finance team’s time. It has solved our immediate pain points and we keep uncovering more functionality designed for a large organisation operating at a global scale.”
Tori McIntyre
Director, Financial Control & Analysis, McLaren Racing
“Airwallex’s global network made sending and receiving international payments easy. We avoid cross-border fees by paying overseas suppliers in their local currency. Sometimes, transfers are even done within the day.”
Alan Ang
Director and Co-founder, EU Holidays
“We’ve used Airwallex as our financial platform for more than 2 years, and every transaction we have made has always been successful. Like Igloohome, Airwallex is solving real problems and we're glad we found a financial partner in them."
Anthony Chow
CEO and Founder of Igloohome
“When we spend S$100, our balance reflects S$99 — thanks to the cashback from the Airwallex Corporate Card. This records our expenses as a positive gain, helping us stretch our budget further. In just two years, we've saved over S$30,000 with Airwallex.”
Dominic Ong
CFO, Endowus
“Airwallex is a great partner to help you get to new markets. Their platform makes global payments so much easier. And if you ever need help getting started, Airwallex’s support team is amazing and really understands what an eCommerce brand needs.”
Jenny Kwang
Founder of J&Co Jewellery
FAQs about upgrading from ANEXT
How much are ANEXT’s fees in Singapore?
Like Airwallex, ANEXT’s business account and local transfers within Singapore are free. However, conversions are needed for funds received in currencies other than CNH, SGD, USD, or EUR, exposing you to prevailing FX rates. While it’s free to receive funds from those currencies, sending overseas will still incur fees from intermediary or recipient banks. Airwallex offers transparent and lower fees for businesses dealing with multiple currencies and regions.
What alternative solutions to ANEXT are there?
There are also digital banks like Trust Bank and MariBank, which primarily serve individual consumers. However, Airwallex is built for business and stands out for its multi-currency support, competitive FX rates, like-for-like settlement, and end-to-end financial solutions spanning payment acceptance, transfers, and spend management.
Who can open an Airwallex Business Account in Singapore?
To be eligible for a business account, your company must meet these requirements:
Your company must be an officially registered and active business. This means it must be fully incorporated and in good standing.
Your company must be registered in an eligible country.
Your company doesn't operate in unsupported industries.
Your company cannot be on a sanctions list, be a shell bank, or be a bearer share entity.
For more information, click here.
How does an Airwallex Business Account help businesses save on transaction fees?
An Airwallex Business Account can be used to avoid unnecessary conversion fees and to save on everyday expenses. Collect payments from your international customers in their preferred currency and pay global suppliers and employees, or hold funds in a foreign currency until FX rates are favourable for conversion.
All comparisons and information reflect Airwallex’s own research using public documentation as of 28 August 2025, and have not been independently validated.
Product features, pricing and other details are subject to change. Airwallex does not guarantee the continued accuracy of this information and is not responsible for any inaccuracies that may arise from such changes. This publication is not intended to be relied on for the purpose of making a decision about a financial product. In particular, Yield is not a savings or deposit product. Investments involve risks, including the possible loss of principal amount invested. Past performance is not indicative of future results. Users are encouraged to conduct their own verification and seek their own advice.
Indicative rate is based on historical annualised rate of underlying funds as of 2 September, 2025, net of Airwallex fees and assumes subscription to the Accelerate tier at SGD 399/ month. Click here to learn more.
If you would like to request an update of the content in this publication, feel free to contact us at [[email protected]].
Airwallex (Singapore) Pte. Ltd. is licensed as a Major Payment Institution and regulated by the Monetary Authority of Singapore. Airwallex Capital (Singapore) Pte. Ltd. is licensed as a Capital Markets Services License holder under the Securities and Futures Act 2001 by the Monetary Authority of Singapore (License No. CMS101830). The MAS has not reviewed this information. For more details, you can refer to the MAS website here.