Instarem vs Airwallex Business: Which is better for your business?
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Choosing the right business account can significantly impact how you manage your finances. We’re comparing Instarem business and Airwallex Business, focusing on their features, pricing, business card options, and more, to help you decide which one suits your needs best.
| Instarem | Airwallex Business | |
|---|---|---|
| Features | Hold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards | Multi-currency accounts, global payments, API integrations, expense management |
| Pricing | No monthly fees and no fees for cross currency payments | No setup or maintenance fees, 0.5% above interbank rates for major currencies, SWIFT transfers $10-$30 |
| Business cards | Virtual prepaid Mastercard® with FX savings and customised spending controls | Multi-currency virtual and physical cards, no international transaction fees, 1.5% cashback |
Instarem vs Airwallex Business: Key Features
| Instarem | Airwallex Business | |
|---|---|---|
| Supported currencies | Pay in 40+ currencies | Hold and receive funds in 20+ currencies |
| International Payments | Pay up to 160+ countries | Transfers to 150+ countries |
| Accounting Integration | Not available | Integrates with Xero, QuickBooks |
| Business Debit Cards | Virual prepaid card with FX savings | Multi-currency virtual and physical cards, no international transaction fees |
| App | Mobile-web compatibility | Mobile app available |
Both options offer robust features. Instarem stands out with its extensive reach in international payments, allowing transactions to over 160 countries. Airwallex excels in accounting software integrations and provides a comprehensive expense management system. The best choice depends on your business’s specific needs.
Instarem vs Airwallex Business: Pricing
| Instarem | Airwallex Business | |
|---|---|---|
| Account Opening Fee | No fees | No fees |
| Monthly Subscription | No fees | No fees |
| Currency Exchange Fees | Mid-market rate; no fees | 0.5% above interbank rates for major currencies |
| Money Transfer Fees | $0 fees for cross-currency payments | Free for local transfers, SWIFT transfers $10-$30 |
| FX Fees | Mid-market rate; no fees | No international transaction fees on cards |
Instarem offers competitive mid-market rates with no fees for cross-currency payments, while Airwallex charges 0.5% above interbank rates for major currencies. However, Instarem has higher fees for same currency transfers, up to USD$35, compared to Airwallex’s SWIFT transfer fees ranging from $10 to $30. Consider your transaction volume and currency needs to determine which pricing structure is more cost-effective.
Instarem vs Airwallex Business: Business Cards
| Instarem | Airwallex Business | |
|---|---|---|
| Physical Card | Soon | Available |
| Virtual Card | Available for Google pay and Apple pay | Available |
| Custom Card | Not available | Not specified |
| ATM Withdrawal | Soon | Not specified |
Both Instarem and Airwallex offer business card functionalities, including virtual cards. Instarem plans to introduce physical cards soon, while Airwallex already provides both virtual and physical multi-currency cards with no international transaction fees. Additionally, Airwallex offers up to 1.5% cashback on card spend, providing an extra incentive for businesses.
See how Instarem compares
| Instarem | |
|---|---|
| Features | Hold and exchange multiple currencies, send real-time payments, secure transactions, process up to 1,000 payments, and fund transactions seamlessly with Visa or Mastercard® credit cards |
| Pricing | No monthly fees and no fees for cross currency payments |
| Business cards | Virtual prepaid Mastercard® with FX savings and customised spending controls |
Getting started with Instarem is easy
- Click here to get a free Instarem business account
- Enter your company details
- Once approved, add beneficiary details, saved for future transfers
- Select a payment method and we’ll show you rates and fees upfront
Register with Instarem business today
Take control of your business finances with Instarem. Enjoy competitive exchange rates, streamlined payments, and fast & secure transactions.
