FX comparison disclaimer

FX Savings Comparison Our FX price comparison is based on comparing quoted Airwallex FX rates against published FX rates available on the website of the big 4 banks in Australia (Commonwealth Bank of Australia, National Australia Bank, Westpac Banking Corporation, and Australia and New Zealand Banking Group).

What price do we compare? We compare savings based on FX margins for the AUD/USD currency pair. An FX margin is the difference between the rate quoted to you and the interbank rate, that is the rate that the bank / financial institution buys the currency. The banks do not usually disclose the FX margin and is usually hidden in the FX rate quoted to you. The banks may also charge a transaction fee for each international transaction processed. Airwallex does not charge transaction fees for international transfers except for payments made via the SWIFT network, which may incur transaction fees from $10 AUD. We have excluded any transaction fees from our analysis as the type and number of payments may differ from client to client.

How do we work out the savings? We collected the published AUD / USD rate from the website of the big 4 banks in Australia at 9am AEST between 21 st Jan 2020 to 21st Feb 2020, excluding all public holidays and weekends. After which, we calculated the “big 4 bank average” AUD/USD FX rate over the same time period. This “big 4 bank average” FX rate was then compared against Airwallex AUD/USD FX rates over the same time period, which is set at our interbank rate plus a 0.3% FX margin.

We calculated the percentage savings a client could achieve through Airwallex by comparing the amount of AUD required to convert a set amount of USD with the big 4 bank average FX rate versus the average Airwallex FX rate. This percentage is then converted to a dollar savings amount on our website. As Airwallex offers the same competitive FX rates regardless of FX volume transacted, we applied the same fx rate and savings across transaction volume tiers. Please note that the potential savings are estimates only as the rates are indicative and subject to change throughout the day. The actual rate will be the prevailing rate for your type of transaction at the time it is processed by us. Thus, the quoted savings are estimates only and are not indicative of future savings.

What this means for you? Airwallex is committed to transparency and will be upfront about our fees and FX margins. We developed this simple calculator to increase the level of transparency by comparing FX rates in a like for like basis, so businesses like you are aware of potential savings that Airwallex can offer.


Our products and services are provided by Airwallex Pty Ltd ABN 37 609 653 312 who holds AFSL 487221. Any information provided is for general information purposes only and does not take into account your objectives, financial situation or needs. You should consider the appropriateness of the information in light of your own objectives, financial situation or needs. Please read and consider the Product Disclosure Statement before using our services.

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