Wise Business 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 Wise Business and Airwallex Business, focusing on their features, pricing, business card options, and more, to help you decide which one suits your business best.
| Wise Business | Airwallex Business | |
|---|---|---|
| Features | Multi-currency accounts, international payments, accounting software integration, business debit cards, mobile app | Multi-currency accounts, international payments, accounting software integration, corporate cards, expense management |
| Pricing | One-time setup fee, no monthly fees, transparent transaction fees | No setup or monthly fees, competitive FX rates, free local transfers |
| Business Cards | Physical and virtual cards, spending controls, ATM withdrawals | Physical and virtual cards, spending controls, expense management integration |
Wise Business vs Airwallex Business: Key Features
| Wise Business | Airwallex Business | |
|---|---|---|
| Supported Currencies | Hold and convert between 40+ currencies | Collect and hold in 20+ currencies, including USD, GBP, EUR, AUD, CNY, HKD, and CAD |
| International Payments | Send money to 160+ countries with transparent fees and mid-market exchange rates | Make global transfers to 150+ countries at interbank rates, with free local transfers and competitive SWIFT transfer fees |
| Accounting Software Integration | Integrates with Xero, QuickBooks, and other accounting software | Syncs with Xero for real-time updates and reconciliation |
| Business Debit Cards | Physical and virtual cards with spending controls, first card free, additional cards for team members at a small fee, free ATM withdrawals up to a certain limit | Multi-currency company and employee cards with zero international fees, earn up to 1.5% cash rebates on local card spend in USD, virtual and physical cards available, integrated with expense management tools |
| App | Mobile app available for account management | Mobile app available for account management |
Both options bring solid features to the table. Wise stands out with its extensive currency support and transparent fee structure, while Airwallex excels in offering integrated expense management and cash rebates on card spending. Ultimately, the best choice depends on your business’s specific needs.
Wise Business vs Airwallex Business: Pricing
| Wise Business | Airwallex Business | |
|---|---|---|
| Account Opening Fee | One-time fee of $31 | No fees |
| Monthly Subscription | No fees | No fees |
| Currency Exchange Fees | Variable fee starting from 0.43%, depending on currency pair | 0.5% above interbank rates for major currencies (HKD, CNY, AUD, EUR, GBP, CAD, SGD, CHF, NZD, JPY), 1.0% for all other currencies |
| Money Transfer Fees | Variable fee depending on currency and amount, starting from 0.57% | Free local transfers, SWIFT transfers to 150+ countries with fees ranging from $10-30 per transfer (SHA and OUR) |
| FX Fees | Uses mid-market exchange rate with a small variable fee | Access to interbank FX rates with a small markup |
Wise offers a competitive one-time setup fee of $31, with no ongoing monthly fees, and transparent transaction fees starting from 0.43%, depending on the currency pair. Airwallex, on the other hand, has no setup or monthly fees, offers free local transfers, and charges a small markup on FX rates (0.5% for major currencies, 1.0% for others). Consider your transaction volume and currency needs to determine which pricing structure is more cost-effective.
Wise Business vs Airwallex Business: Business Cards
| Wise Business | Airwallex Business | |
|---|---|---|
| Physical Card | Available, first card free, additional cards for team members at a small fee | Available, free for company cardholders, employee cards may have a monthly fee depending on region |
| Virtual Card | Available, free | Available, free |
| Custom Card | Not available | Not available |
| ATM Withdrawal | Two free withdrawals up to $100 per month, then $1.50 + 2% per withdrawal | Not specified |
Both Wise and Airwallex offer business card functionalities, including physical and virtual cards with spending controls. However, Wise stands out with its transparent ATM withdrawal policy, offering two free withdrawals up to $100 per month, while Airwallex provides integrated expense management tools and potential cash rebates on card spending.
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.
