Airwallex is not a traditional money transfer provider; instead, it allows you to hold, pay, and receive payments in multiple currencies from its business bank account.
This article walks you through its tools, fees, pros & cons, and more, so you can make a quick, confident decision.
Ready to see if it suits your company? Let’s jump straight in.
- Airwallex at a Glance
- Our Verdict: Is Airwallex Worth Considering?
- Pros and Cons
- Airwallex Products and Features
- Pricing
- How Safe Is Airwallex?
- Who Are Airwallex?
- Who Should Use Airwallex (and Who Shouldn’t)?
- Airwallex Ease of Use
- Customer Support
- Airwallex Customer Feedback
- Eligibility Criteria
- How to Send Money with Airwallex
- Extra Tools and Helpful Features
Airwallex at a Glance
| Factor | Countries & Currencies |
|---|---|
| Best For | UK businesses sending frequent global payments or managing funds in multiple currencies |
| Countries & currencies | Send to 150+ countries in 60+ currencies |
| Speed | Most transfers arrive within 1 business day |
| FX Rates | Interbank rate + margin (0.5% fee on major currencies, 1% fee on others) |
| Transfer Fees | Free for local routes; SWIFT: £10–£20 |
| Transfer Method | Local rails (e.g. ACH, SEPA), SWIFT, batch payments |
| Requirements | Airwallex business account required (no one-off transfers) |
| Useful Extras | Batch transfers, accounting sync (e.g. Xero), API access |
| Security | FCA-regulated, funds safeguarded, PCI DSS compliant |
| Customer feedback | Trustpilot: 3.5★ (2K+ reviews) Google Play: 2.2★ (226 reviews) App Store: 4.9★ (592 ratings) |
Our Verdict: Is Airwallex Worth Considering?
If your business regularly handles cross-border payments, whether paying remote teams or collecting overseas sales, Airwallex will offer a faster, cheaper, and more flexible alternative to traditional banks.
Its strengths lie in real-time multi-currency control, transparent pricing, and integrations that reduce admin.
That said, businesses in restricted sectors or those needing cash services won’t find what they need here.
For everyone else, it’s a strong contender worth shortlisting.
Pros and Cons
- Same-day transfers to 150+ countries for most transactions
- Access to interbank FX rates with low margins (≈0.5%)
- Multi-currency accounts with local bank details
- Zero foreign transaction fees on corporate card spend
- API and accounting integrations (Xero, Shopify, QuickBooks)
- Streamlined onboarding, no paperwork queues
- PCI DSS and FCA-regulated for strong security
- No FSCS protection (though client funds are safeguarded)
- Not available to certain industries (e.g. gambling, charities, investments)
- SWIFT transfers incur fees (£10–20 depending on route)
- No personal accounts or physical branches
- Customer service not 24/7, limited to weekday support
Airwallex Products and Features
International Transfers
From your Airwallex wallet, you can send money to over 150 countries in 60+ currencies. All transfers use interbank FX rates with a transparent margin (often around 0.5% for major currencies). Most transfers arrive on the same day, and batch transfer tools let you send payments to multiple recipients in one go.
Multi-Currency Accounts
With Airwallex, you can open Global Accounts in 20+ currencies, complete with local bank details like IBANs or routing numbers. This lets you receive payments in your customers’ preferred currency without needing a physical presence in that country. You can hold, convert, and spend balances without forced currency exchanges, helping to reduce unnecessary fees.
Financial Integrations and API Access
Airwallex integrates with popular tools like Xero, Shopify, Amazon, and QuickBooks. You can automate bookkeeping and reconcile faster. For more advanced needs, the open API allows you to build custom payment workflows, issue cards programmatically, and manage FX across multiple entities at scale.
Business Cards and Spend Controls
Airwallex lets you issue virtual and physical corporate cards for employees and teams. Cards can be used in multiple currencies with no foreign transaction fees. You can set spend limits, freeze cards instantly, and monitor usage in real time; all from one dashboard. Cards link directly to your account balance, helping reduce the need for expense reimbursements.
Pricing
Airwallex keeps its pricing relatively simple and transparent, with competitive FX margins and flexible monthly plans. Here’s what you need to know:
FX and Transfer Fees
- Currency conversion: Around 0.5% margin above the interbank rate for major currencies (1% for others)
- Local transfers: Often free using local networks
- SWIFT transfers: Typically £10–20, depending on destination and method
Monthly Plans
| Plan | Monthly Fee | Key Benefits |
|---|---|---|
| Explore | £0 or £19* | Access to interbank FX, spend tools, and transfers to 150+ countries |
| Grow | £49 | Everything in Explore, plus extras like custom approvals and priority support |
| Accelerate | £999 | For high-volume businesses needing tailored support and global scaling |
| Custom | Contact sales | Enterprise features and pricing based on your specific needs |
*The £19 Explore fee is waived if you maintain a balance or deposit of £10,000+
Other Notes
- SWIFT fees are always shown separately in reports for full transparency
- Batch transfers, API usage, and card issuance are included with no extra charge
- Fast onboarding means you can start using the platform before you’re billed
Airwallex suits both startups looking for zero-commitment pricing and larger firms needing predictable costs at scale.
How Safe Is Airwallex?
Airwallex takes security seriously, with multiple layers of protection in place to keep your money and data safe. In the UK, it’s authorised and regulated by the Financial Conduct Authority (FCA) as an Electronic Money Institution (EMI). This means client funds are kept in separate accounts, safeguarded with leading financial institutions, and never mixed with company money.
While your balance isn’t covered by the Financial Services Compensation Scheme (FSCS), Airwallex follows strict safeguarding rules. In the unlikely event of insolvency, customer funds are ring-fenced and would be returned before any other claims, though an insolvency practitioner may charge a fee for the process.
On the technical side, Airwallex is PCI DSS, SOC 1 and SOC 2 compliant. All data is encrypted in transit and at rest, using secure protocols like TLS and AES. The platform also includes two-factor authentication (2FA) to protect account access and verify transfers.
In short, while it’s not a bank, Airwallex is held to high regulatory and technical standards designed to protect your business every step of the way.
Who Are Airwallex?
Airwallex is a global financial technology company founded in 2015, built to modernise how businesses manage international payments. In the UK, it operates under an Electronic Money Institution (EMI) licence, authorised and regulated by the Financial Conduct Authority (FCA).
Unlike traditional banks, Airwallex offers a completely digital experience. Businesses can hold and exchange over 20 currencies, send money to more than 150 countries, and issue corporate cards with built-in spend controls, all from a single platform.
Its customer base ranges from online sellers and SaaS providers to digital agencies and global service businesses. These companies typically need faster, more affordable ways to move money internationally, without the delays, paperwork or fees that come with conventional banking.
Airwallex’s focus on providing speed, transparency, and control to businesses operating across borders sets it apart.
Who Should Use Airwallex (and Who Shouldn’t)?
Airwallex is built for UK-registered businesses that regularly send, receive, or hold money in multiple currencies. If you’re managing international suppliers, paying remote staff, or collecting overseas revenue from platforms like Amazon or Shopify, this platform could save you both time and money.
Best suited for:
- E-commerce brands needing to collect and convert foreign currency payouts
- SaaS companies with international customers and recurring payments
- Agencies and service providers paying contractors abroad
- Startups looking for fast onboarding and global-ready financial tools
- Businesses wanting to integrate finance into their workflows via API
Not ideal for:
- Charities or investment firms (restricted under Airwallex’s risk policies)
- Businesses handling cash or needing physical branch support
- Sole traders without clear documentation or operating in unsupported industries
- Companies with directors or UBOs based in restricted countries like Russia or Belarus (unless exemptions apply)
In short, if your business is digital, global, and needs control over international transactions without the faff of traditional banking, Airwallex could be a good match. But if you’re dealing with physical cash or fall into a high-risk industry, you’ll likely need to look elsewhere.
Airwallex Ease of Use
Airwallex is built to simplify international finance, and it delivers a smooth, user-friendly experience from day one. You can sign up completely online, with no paperwork or branch visits. Most accounts are verified and ready to use within 24 hours.
The dashboard is clean and intuitive. From one place, you can hold balances in multiple currencies, send payments globally, and issue cards to employees. You can also upload batch transfers, assign user roles, and set up approval workflows to stay in control as your business scales.
Mobile apps are available for iOS and Android, giving you on-the-go access to your accounts, transfers, and cards. If you’re a tech-forward business, you can automate operations using Airwallex’s open API, which is ideal for platforms, marketplaces, or finance teams handling high volumes.
Everything is designed to keep things moving quickly and securely, without the usual delays or confusion that come with traditional banking.
Customer Support
Airwallex provides structured business support across multiple channels, available Monday through Friday. Depending on your region, you can reach their team via live chat, email, or phone during extended working hours.
All users get access to the standard support team, while those on the Grow plan or above benefit from a dedicated account manager for more hands-on assistance. This is particularly helpful for businesses managing higher transaction volumes, using the API, or operating across multiple countries.
Support is designed to fit around business needs, offering guidance with setup, daily operations, and technical queries. Whether you’re issuing new cards, setting up accounting integrations, or managing user roles, the team is available to help you stay on track.
Airwallex Customer Feedback
As of 22 April 2025, Airwallex has a 3.5 out of 5 rating on Trustpilot based on over 2,000 reviews, reflecting a fairly balanced mix of positive and negative experiences. On Google Play, the app has a lower score of 2.2 out of 5 from 226 users, with most complaints tied to technical issues. In contrast, the Apple App Store shows a strong 4.9 out of 5 rating from 592 reviews, suggesting a much smoother experience for iOS users.
On Trustpilot, many users commend Airwallex’s customer service and ease of onboarding, particularly in comparison to traditional banks. Several reviews mention fast setup and helpful support teams, even during account verification stages. Positive feedback highlights the simplicity of issuing cards and managing transfers, which many found ideal for remote-first or international businesses.
However, there are clear frustrations too. Some customers report long delays accessing funds, with one review mentioning a 216-day hold past the agreed timeline. On Google Play, users criticise the app for not supporting Android versions below 11, leaving them locked out after updates. Meanwhile, a handful of App Store users raised concerns about limited feature access and lack of transparency in account eligibility, though most still rate the app highly for reliability and design.
Eligibility Criteria
To open an Airwallex business account in the UK, your company must be officially registered as either a Limited Company (Ltd), Limited Liability Partnership (LLP), Sole Trader, or similar business structure. Personal accounts for individuals are not currently supported.
Your business must also operate in a supported industry. Airwallex does not accept applications from high-risk or restricted sectors such as gambling, investment services, arms dealing, and charities. Additionally, they cannot onboard businesses with directors or Ultimate Beneficial Owners (UBOs) based in countries under sanctions, including Russia or Belarus (unless residency exceptions apply).
The platform is designed for businesses engaged in selling goods or services, either B2B or B2C. During onboarding, all applicants will need to pass Know Your Customer (KYC) checks.
How to Send Money with Airwallex
To use Airwallex for international transfers, you’ll first need to open an Airwallex business account; it’s not a standalone money transfer service like Wise or Western Union. That means you can’t just send a one-off payment. Instead, you’ll set up a full business account that lets you hold, convert, and send multiple currencies all in one place.
Here’s what the process typically looks like:
- Sign up online: Fill in your business details, including company structure and contact info.
- Submit verification documents: Upload ID for all directors and UBOs, proof of address, and company documents (e.g. Certificate of Incorporation).
- Wait for approval: Most accounts are reviewed and verified within 24–48 hours, though this may take longer if further checks are required.
- Fund your account: Once approved, you can deposit GBP or other currencies into your Airwallex wallet.
- Start sending payments: From here, you can convert currencies and make local or international transfers, or issue cards to team members.
Airwallex is designed for businesses looking for an all-in-one global finance platform, not one-time transfers. If you’re after a one-time international transfer service, Airwallex isn’t for you.
Extra Tools and Helpful Features
Airwallex includes more than just transfers and currency conversion. It also offers a range of extras that make it especially valuable for internationally active businesses.
For example, if your business uses platforms like Shopify, Amazon or Xero, you can connect your Airwallex account to automate tasks like payment reconciliation, invoice tracking and FX settlements. This helps reduce manual admin and keeps your records tidy.
You can also use batch payments to pay multiple suppliers or team members at once. For companies with multiple teams or entities across countries, Airwallex supports global account structures and lets you manage spending in one place.
There’s also a full spend management suite. This includes receipt capture, bill payments, employee reimbursements, and real-time controls over corporate card usage. It’s ideal for businesses that want to stay on top of spending without juggling multiple systems.
Altogether, these tools make Airwallex more than just a transfer service. It’s a financial operations platform designed to simplify how modern businesses move and manage money around the world.
How Airwallex Compares to the Competition
Airwallex stands out from traditional money transfer services by offering more than just currency conversion. While competitors like Wise and Revolut Business focus on straightforward transfers, Airwallex combines international payments with multi-currency accounts, card issuing, and financial automation.
| Feature | Airwallex | Wise | Revolut Business |
|---|---|---|---|
| Multi-currency wallets | Yes (20+ currencies) | Yes (50+ currencies) | Yes |
| Local bank details in foreign currencies | Yes | Yes | Limited |
| Cards for business spending | Yes (virtual and physical) | Yes | Yes |
| Interbank FX rates | Yes (with margin from 0.5%) | Yes (with variable margin) | Yes (rates vary by plan) |
| API for automation | Full-featured | Limited | Available on higher tiers |
| Accounting integrations | Xero, QuickBooks, Shopify, Amazon | Xero, QuickBooks | Xero, FreeAgent |
| Best for | Global businesses with team cards, automation, and multi-entity needs | Low-cost one-off transfers and freelancers | SMEs needing a digital bank alternative with UK focus |
While Wise may offer more supported currencies and Revolut covers general banking needs, Airwallex is purpose-built for businesses with ongoing cross-border operations, complex spend management, or the need to scale internationally.
FAQs
Yes. Airwallex is not a one-off transfer service. You need to open a business account first, which allows you to hold, convert and send funds from your wallet.
Most international payments arrive within the same business day. Airwallex reports that around 95% of transfers settle that quickly, depending on the destination and currency.
Yes. Airwallex is authorised by the Financial Conduct Authority (FCA) in the UK and follows strict safeguarding rules. Funds are held in separate accounts with tier-one banks and the platform complies with PCI DSS and SOC 1 & 2 standards.
You’ll need basic business registration documents (like your Certificate of Incorporation), plus ID and proof of address for all directors and ultimate beneficial owners (UBOs). The exact documents depend on your business structure.
It depends. While it offers many of the tools traditional banks provide, Airwallex isn’t a bank and doesn’t support things like cash deposits or cheque processing. But for international money movement and spend management, it can easily be your primary financial tool.
The iOS app is highly rated, with a score of 4.9 out of 5. The Android app has more mixed reviews, with a 2.2 rating due to compatibility and login issues on some devices.
