The company has licenses across 60 countries and offers access to 12 local multi-currency accounts, virtual card options, and competitive exchange rates.
There are also options to use Airwallex for API use, white label services, and treasury management.
Overview
Monthly Fee | Exchange rate | Transfer fees | Multi-currency account |
|---|---|---|---|
$0 / £0 | 0.5% | No fees | 12 local accounts |
- A cross border payment platform offering most features need, with the ability to use embedded options and APIs to create custom tools
- Access to competitive exchange rates starting at 0.5% for cross border payments, including batch payments of up to 1,000 recipients
- 12 local accounts and access to banking in 40 countries is one of the most comprehensive solutions on the market
- Forward contracts are not offered, so long term currency risk solutions could be better served alongside a provider like TorFx
Features | Insight |
|---|---|
Batch payments | Create up to 1,000 batch payments per transaction |
Expense management and tracking | Expense management can have custom workflows for different cards, teams, or budget lines, and will sync to central dashboards and accounting software as needed |
Pay invoices | Invoice management and tagging can be carried out within the software |
Receive Payments | Use Airwallex as a payment gateway, and create payment links where needed to receive cross-border payments |
Marketplace integration | Amazon, Upwork, and Etsy as standard integrations. Also functions with WooCommerce, Shopify, and Magento |
API options | Use API calls to make automated regular cross-border payments, issue multi-currency cards at scale, and create banking products |
Supported accounts and currencies
Supported local accounts
Support currencies
Limits
Sending limits (per transfer) | |
|---|---|
Minimum | $10 |
Maximum | $5 million |
Cards and virtual cards
If using a balance already on the card, there is no cost when spending.
If converting at the point of purchase, the exchange rate will be 0.5% above the mid-market rate for HKD, CNY, AUD, EUR, GBP, CAD, SGD, CHF, NZD, and JPY.
All other currencies are charged at 1.0% above the mid-market rate.
Expenses management
Airwallex offers some of the better solutions for expense management as well as real-time reporting.
Expense workflows can be created per card, budget line, or team. These can be managed at multiple levels as well.
For example, managing a workflow via a fleet of vehicles or a specific event is possible as well.
Fees
Global accounts
Action | Fee |
|---|---|
Account Opening | $0 |
Multi-currency wallet | $0 |
Receiving payments
Action | Fee |
|---|---|
Domestic Cards | 2.80% + $0.30 |
International Cards | 4.30% + $0.30 |
Local Payment Methods | $0.30 + Payment Method Fee |
Transfers and currency conversion
Action | Fee |
|---|---|
Transfers (SWIFT) | $15-$25 |
FX Conversions | 0.5% to 1% above interbank rate |
Direct Debits | $0 |
Cards and expenses
Action | Fee |
|---|---|
Company Cards Issue | $0 |
Employee Cards Issue | $0 |
Card Transactions (Domestic) | $0 |
Card Transactions (International) | $0 |
Paying ongoing bills
Action | Fee |
|---|---|
Payment via Local Transfer | $0 |
Payment via SWIFT | $10 per transaction |
Supported integrations
Airwallex integrates well into multiple accounting services and e-commerce marketplaces.
Xero
QuickBooks
Asperato
ApprovalMax
Odoo
Sage
Signing up for Airwallex
Confirm your business
To start using Airwallex you need to confirm you are a registered business.
You will need to confirm the country the business is registered.
Enter contact details
Names of contacts and the business email will need to be shared.
From here you will be given initial access tot he account.
Verify where needed
Each sign up will be a little different, but generally Airwallex will need to see proof of incorporation, ID of owners and contacts that will be registered and potentially some access to cross border spend.
Set up the account
Once verified, set up the account and start working with the products needed.
Multi-currency options can be added and virtual card workflows configured.
Airwallex currently does not support sole traders or businesses which have not yet been set up in full.
Using Airwallex API and platform to power your platform
The Airwallex API and platform work slightly differently in that businesses can use this to provide services to customers, or enhance and customise multi-currency solutions within their own operations.
There are some key features associated here, but the top level news is the API and platform can be configured to suit the global payment needs of banks (providing services) and fintechs (using services).
In some cases, there are out of the box solutions on offer.
Key features of using the API and platform
Natively embed accounts, cards and lending streams into financial platforms
Create automated payment lines and settlements for regular payments and easier processing, includes batch payments
Issue multi-currency cards at scale and instantly within target markets
Compliance
Airwallex security includes:
SOC compliant
PSD2 compliant
PCI DSS Level 1
60 global licenses and permits
Eligibility
What's needed
Who is not eligable?
Solutions offered by Airwallex
Airwallex offers a range of products. Discover how they compare to other companies.
.png)
.png)
.png)
.png)
.png)
.png)
