What is an Airwallex Global Account?

An Airwallex Global Account empowers your business to enhance its financial operations on the international stage. It’s a modern alternative to a traditional business bank account, giving you the ability to open domestic and foreign currency accounts in minutes – no need to visit a bank branch or set up a local entity.

You can skip the red tape, bank lines, and excessive paperwork by opening foreign currency accounts in the UK, Europe, Hong Kong, Japan, Australia, New Zealand, and more – right from your desk in the US. 

The Airwallex Global Account is an innovative financial solution that lets you collect payments from international customers in their local currency, helping you unlock new global revenue opportunities. You can then hold and spend those funds in the same currency, avoiding unnecessary conversion fees, high transaction costs, and manual processes.

If you need to convert foreign currencies into USD (or vice versa), you'll benefit from Airwallex’s competitive, market-leading exchange rates.

The Airwallex Global Account also seamlessly integrates with online marketplaces and platforms like eBay, Shopify, and PayPal, allowing you to collect funds without unnecessary currency exchange. The account also integrates with Xero, the accounting software, alleviating the need for tedious and time-consuming data entry. 

How is an Airwallex Global Account different from a foreign currency bank account? 

Global business accounts and foreign currency accounts work similarly. However, the Airwallex Global Account is designed to make managing multiple currencies easier and more cost-effective than using a bank.  

Banks may request that you make an in-branch appointment before opening a foreign currency account. It may take anywhere from five days to four weeks for the bank to process your application and activate your account. If you operate in multiple currencies, you will need to open separate bank accounts for each currency, resulting in a fragmented financial experience and increased administrative burden for your team.

The benefit of an Airwallex global business account is that you can open foreign currency accounts online with just a click, eliminating the need to visit a bank branch in person. Our accounts come with local bank details, allowing you to receive, hold, and send multiple currencies without being subject to FX fees. We also don't charge account fees or transaction fees.

Airwallex allows you to manage all your funds in one place. You can view your multi-currency balances from a single interface, spend in multiple currencies with your Corporate Cards, transfer funds to suppliers and employees around the world, and view all transaction data in one platform.

Airwallex provides a streamlined and efficient way to establish a local banking presence for your business in a specific region, without the need to open a physical entity. 

Why is the ability to open a global account in different locations significant? 

Opening an Airwallex Global Account provides you with all the inherent benefits of a digital business account, along with purpose-designed features tailored for a global scale, including no signup fees and zero monthly fees. It’s an innovative fintech solution designed to help your business operate seamlessly across countries. 

Setting up a number of global accounts in different localities brings a number of benefits to your business operations (and your bottom line).

A simple payment solution for different currencies

Payment gateways like PayPal, Shopify, and Amazon Pay charge high foreign exchange fees for different currencies. Putting your money into an Airwallex Global Account means you can avoid paying exchange fees, as the account allows you to receive, hold, and send money across borders without needing to exchange currencies. 

For example, if you’re based in the US marketplace, you could collect money from your customers in Hong Kong, keep that money in your Global Account, and then use it to pay your suppliers in Hong Kong, all while paying no exchange fees.

How are Airwallex accounts used?

Airwallex Global Accounts are utilized by high-growth businesses worldwide at various stages of their international expansion. 

Explore some of these case studies to discover how businesses are enhancing their bottom lines with Airwallex. 

• Clocky relies on Airwallex to reduce the costs of its global business

• HJS Packaging & Distribution relies on Airwallex to simplify moving money across its global supply chain

• Royal Essence drives international expansion with Airwallex

What is the pricing of an Airwallex Global Account?

With no monthly fees when opting for our Explore plan, no card fees, and only a small margin on top of our interbank FX rates, our competitive, simple, and transparent pricing is a win for your business.

What does an international payment cost with the Airwallex Global Account?

Sending money to countries in their local currency incurs 0% international transaction fees with our local payment technology. We only charge a small margin on FX when you exchange currencies. 

To send non-local currencies overseas (e.g., to send USD to Hong Kong), we can still assist; however, we will need to charge an additional payment fee to cover the cost of using the SWIFT network. 

Unlock new levels of expansion for your business

As your business expands, Airwallex is here to support you. Global Accounts are designed to make it as easy as possible to send and receive foreign currencies. 

So, if you’re looking for a simple and efficient way to do business around the world, sign up for free today.