Wise vs Airwallex 2025: Which is Better for Your Business?
Sarah Jenkins
Senior Fintech Analyst • Dec 04, 2025
Last Updated: December 2025 | Reading Time: 10 minutes
Choosing between Wise and Airwallex is a common dilemma for businesses operating internationally. Both are fintech leaders, but they serve different needs and excel in different areas. Wise is known for the lowest FX fees, while Airwallex offers unlimited virtual cards and advanced features.
In this comprehensive comparison, we'll break down fees, features, use cases, and help you determine which platform is the best fit for your specific business model.
Quick Comparison Table
| Feature | Wise Business | Airwallex |
|---|---|---|
| Best For | Lowest FX fees, freelancers | Startups, high card usage |
| Setup Fee | £45 one-time | $0 |
| Monthly Fee | $0 | $0 |
| FX Markup | 0.41%-0.69% | 0.5%-0.6% |
| Virtual Cards | Limited | Unlimited (free) |
| Physical Cards | £5 each | $10 each |
| Receiving Accounts | 10+ currencies | 10+ currencies |
| Batch Payments | Yes (1,000+) | Yes |
| Accounting Integration | Xero, QuickBooks, FreeAgent | Xero, QuickBooks, NetSuite |
| API Access | Comprehensive | Comprehensive |
| Expense Management | Basic | Advanced |
| Payment Collection | No | Yes (2.5% + $0.30) |
The Core Difference: Philosophy and Target Market
Wise: Transparency and Lowest Fees
Wise's mission: Use the mid-market exchange rate and charge a small, transparent fee.
Target customer:
- Freelancers billing clients directly
- Agencies paying international contractors
- Cost-conscious businesses
- High-volume currency converters
Value proposition: Save the most money on FX fees.
Airwallex: Complete Financial Operating System
Airwallex's mission: Provide enterprise-grade financial infrastructure for growing businesses.
Target customer:
- Funded startups with teams
- Tech companies with high card usage
- Businesses needing payment collection
- Companies requiring advanced expense management
Value proposition: Comprehensive financial platform with unlimited cards and advanced features.
Fee Structure: Detailed Breakdown
Currency Exchange Fees
Wise:
- Uses mid-market rate (the "real" rate)
- Adds transparent fee: 0.41%-0.69%
- Example: GBP→USD = 0.41%, USD→INR = 0.69%
- Industry-leading low fees
Airwallex:
- Uses mid-market rate + 0.5%-0.6% markup
- Slightly higher than Wise but still competitive
- High-volume businesses can negotiate lower rates
Real-world example: Converting $100,000 USD to EUR
| Provider | Fee | You Receive (EUR) |
|---|---|---|
| Wise | $410 (0.41%) | €91,590 |
| Airwallex | $500 (0.5%) | €91,500 |
| Difference | $90 | €90 |
Over 12 months (monthly conversions): $1,080 savings with Wise
Verdict: Wise wins on FX fees, but the difference is smaller than vs traditional banks.
Virtual Card Fees
Wise:
- Virtual card issuance: Limited availability
- Physical card: £5 per card
- Card spending: 0% foreign transaction fee
- ATM withdrawals: 2 free/month, then 2% fee
Airwallex:
- Virtual card issuance: Unlimited, free
- Physical card: $10 per card
- Card spending: 0% foreign transaction fee
- ATM withdrawals: 2 free/month, then 2% + $2 fee
Verdict: Airwallex wins decisively on virtual cards (unlimited vs limited).
Payment Collection Fees
Wise:
- Not available: Wise doesn't offer payment collection
- Must use separate service (Stripe, PayPal)
Airwallex:
- Card payments: 2.5% + $0.30 (competitive with Stripe)
- Local payment methods: 1.5%-3%
- Payment links: Create custom checkout pages
- No setup fees: Pay only when you receive payments
Verdict: Airwallex wins (Wise doesn't offer this feature).
Transfer Fees
Wise:
- Domestic transfers: Free (USD→USD, EUR→EUR)
- International transfers: 0.41%-0.69% FX fee
- Batch payments: Same fees, pay 1,000+ at once
Airwallex:
- Domestic transfers: Free
- International transfers: 0.5%-0.6% FX fee
- Batch payments: Available
Verdict: Wise wins slightly on transfer fees.
Features Comparison
Multi-Currency Accounts
Wise:
- 50+ currencies supported
- Local account details in 10+ currencies:
- USD, EUR, GBP, AUD, NZD, CAD, SGD, HUF, RON, TRY
Airwallex:
- 50+ currencies supported
- Local account details in 10+ currencies:
- USD, EUR, GBP, AUD, SGD, CNY, HKD, and more
Verdict: Roughly equal; both offer comprehensive multi-currency support.
Virtual Card Management
Wise:
- Limited virtual card issuance
- Basic spending controls
- Freeze/unfreeze cards
- Transaction notifications
Airwallex:
- Unlimited virtual cards (game-changer)
- Advanced spending controls:
- Per-card limits (daily, monthly, per-transaction)
- Merchant category restrictions
- Cardholder assignment
- Create cards instantly
- Single-use cards for one-time purchases
Use case: A SaaS company with 50 subscriptions can create 50 separate virtual cards on Airwallex (one per service). If one service has a data breach, only that card is compromised.
Verdict: Airwallex wins decisively.
Expense Management
Wise:
- Basic transaction categorization
- Export to CSV
- Accounting software integration
- No built-in approval workflows
Airwallex:
- Advanced expense management:
- Receipt capture (mobile app OCR)
- Automatic categorization (AI-powered)
- Multi-level approval workflows
- Policy enforcement
- Real-time spending visibility
- Manager dashboards
- Compliance audit trails
Verdict: Airwallex wins for teams; Wise sufficient for solo/small businesses.
Accounting Software Integration
Wise:
- Xero: Automatic bank feed
- QuickBooks Online: Transaction sync
- FreeAgent: UK freelancer favorite
- Sage: Enterprise accounting
Airwallex:
- Xero: Real-time sync
- QuickBooks Online: Automatic reconciliation
- NetSuite: Enterprise ERP integration
- MYOB: Australia/New Zealand
Verdict: Roughly equal; both integrate with major platforms.
API and Developer Tools
Wise:
- Comprehensive API
- Payments, payouts, FX, webhooks
- Excellent documentation
- Code examples in multiple languages
Airwallex:
- Comprehensive API
- Payments, payouts, card issuing, FX
- Excellent documentation
- Developer-friendly
Verdict: Both excellent for developers; Airwallex has card issuing API (unique advantage).
Speed: How Fast Are Transfers?
Wise Transfer Speeds
| Currency Pair | Typical Speed |
|---|---|
| GBP → EUR | Instant to 1 hour |
| USD → USD | Instant |
| USD → EUR | 1-2 business days |
| GBP → AUD | 1-2 business days |
Average: 1-2 business days for most transfers.
Airwallex Transfer Speeds
| Transfer Type | Typical Speed |
|---|---|
| Same currency | Instant |
| Major pairs | 1-2 business days |
| Exotic pairs | 2-3 business days |
Average: 1-2 business days for most transactions.
Verdict: Roughly equal.
Ease of Use and User Experience
Wise
Strengths:
- Clean, simple interface
- Excellent mobile app (4.6/5 stars)
- Transparent fee calculator
- Fast account setup (1-3 days)
- Intuitive for beginners
Weaknesses:
- Limited advanced features
- No payment collection
- Basic expense management
User rating: 4.6/5 on Trustpilot (180,000+ reviews)
Airwallex
Strengths:
- Feature-rich dashboard
- Advanced controls for teams
- Payment collection built-in
- Unlimited card creation
Weaknesses:
- Steeper learning curve
- More complex interface
- Longer setup (2-7 days)
User rating: 4.3/5 on Trustpilot (5,000+ reviews)
Verdict: Wise wins on simplicity; Airwallex wins on features.
Customer Support
Wise
Support channels:
- Email: support@wise.com
- In-app chat (business hours)
- Help center with extensive FAQs
- Phone support (urgent issues)
Response times:
- Email: 24-48 hours
- Chat: 5-15 minutes
Quality: Generally good, knowledgeable support.
Airwallex
Support channels:
- Email: support@airwallex.com
- In-app chat
- Help center
- Dedicated account managers (for larger accounts)
Response times:
- Email: 24-48 hours
- Chat: 10-20 minutes
Quality: Good support, especially for enterprise customers.
Verdict: Roughly equal; both provide solid support.
Real-World Use Cases: Who Should Choose Which?
Choose Wise If:
Scenario 1: Freelance Consultant
- Billing 5-10 international clients monthly
- Clients pay via bank transfer
- Want absolute lowest FX fees
- Don't need many virtual cards
Savings: $200-$400/month vs Airwallex
Scenario 2: Small Agency (5-10 people)
- Paying 20-30 international contractors
- Need batch payment functionality
- Integrate with Xero
- Prioritize cost savings over features
Savings: $500-$1,000/month vs Airwallex
Scenario 3: High-Volume Currency Converter
- Converting $500,000+/month
- Every 0.1% in fees matters
- Don't need advanced features
- Want simplest, cheapest solution
Savings: $2,000-$4,000/month vs Airwallex
Choose Airwallex If:
Scenario 1: SaaS Startup (20+ employees)
- 50+ SaaS subscriptions to manage
- Need unlimited virtual cards
- Want advanced expense management
- Collecting payments from customers
Benefit: Unlimited cards, payment collection, team controls worth the slightly higher FX fees
Scenario 2: E-commerce Business
- Selling globally, need payment collection
- High card usage for ad spend
- Need merchant category restrictions
- Want all-in-one financial platform
Benefit: Payment collection + unlimited cards + expense management in one platform
Scenario 3: Funded Startup
- Raised seed/Series A funding
- Growing team (10-50 people)
- Need enterprise-grade features
- Want to scale financial operations
Benefit: Advanced features support growth without switching platforms
Decision Matrix
Use this matrix to determine which platform is best for you:
| Your Situation | Recommended Platform |
|---|---|
| Freelancer, solo consultant | Wise |
| Startup with <10 employees | Wise |
| Startup with 10-50 employees | Airwallex |
| Need unlimited virtual cards | Airwallex |
| Need payment collection | Airwallex |
| Absolute lowest FX fees priority | Wise |
| High-volume currency conversion | Wise |
| Advanced expense management needed | Airwallex |
| Team of 20+ people | Airwallex |
| Simple, straightforward needs | Wise |
| Complex financial operations | Airwallex |
| Budget-conscious | Wise |
| Feature-rich platform priority | Airwallex |
Pricing Comparison: Real Numbers
Scenario 1: Freelancer ($50,000/year revenue)
Monthly costs:
- Wise: ~$20/month (FX fees)
- Airwallex: ~$25/month (FX fees)
- Difference: $5/month ($60/year)
Verdict: Wise saves $60/year, but difference is minimal.
Scenario 2: Small Agency ($500,000/year revenue)
Monthly costs:
- Wise: ~$200/month (FX fees)
- Airwallex: ~$250/month (FX fees)
- Difference: $50/month ($600/year)
Verdict: Wise saves $600/year. If you need unlimited cards, Airwallex worth the premium.
Scenario 3: Funded Startup ($2M/year revenue)
Monthly costs:
- Wise: ~$800/month (FX fees only)
- Airwallex: ~$1,000/month (FX + payment collection)
- Difference: $200/month ($2,400/year)
Verdict: Airwallex provides payment collection, unlimited cards, and advanced features worth the $2,400/year premium.
Frequently Asked Questions
Which has lower fees overall?
Wise has lower FX fees (0.41% vs 0.5%). For pure currency conversion, Wise is cheaper. However, Airwallex offers features Wise doesn't (unlimited cards, payment collection), which may justify the slightly higher fees.
Which is better for startups?
Early-stage (pre-seed, bootstrapped): Wise (lower fees, simpler)
Funded startups (seed+): Airwallex (unlimited cards, team features)
Can I use both?
Yes! Some businesses use:
- Wise: For currency conversion and contractor payments (lower fees)
- Airwallex: For virtual cards and payment collection (advanced features)
Which has better virtual cards?
Airwallex by far. Unlimited virtual cards vs Wise's limited availability.
Which is easier to set up?
Wise: 1-3 business days, simpler process
Airwallex: 2-7 business days, more thorough KYC
Which is better for international payments?
Wise for lowest fees. Airwallex if you need additional features alongside payments.
Can I negotiate fees?
Wise: Generally no, fees are fixed
Airwallex: Yes, high-volume businesses ($100,000+/month) can negotiate lower FX rates
Final Verdict
Wise Business: Best for Cost-Conscious Businesses
Rating: ⭐⭐⭐⭐⭐ (5/5) for lowest fees
Choose Wise if:
- You prioritize saving money on FX fees
- You're a freelancer or small business
- You don't need unlimited virtual cards
- You want simple, straightforward banking
- You make frequent currency conversions
Bottom line: Wise is the cheapest option for international payments. If you can work without unlimited cards and payment collection, you'll save money.
Airwallex: Best for Growing Startups
Rating: ⭐⭐⭐⭐½ (4.5/5) for features
Choose Airwallex if:
- You need unlimited virtual cards
- You want to collect payments from customers
- You have a growing team (10+ people)
- You need advanced expense management
- You want an all-in-one financial platform
Bottom line: Airwallex's slightly higher FX fees (0.5% vs 0.41%) are offset by unlimited cards, payment collection, and advanced features. For funded startups and growing teams, it's worth the premium.
The Hybrid Approach
For maximum value, some businesses use both:
- Use Wise for currency conversion and contractor payments (lowest fees)
- Use Airwallex for virtual cards and payment collection (advanced features)
Example: Convert currencies on Wise (save on FX), then transfer to Airwallex for team card issuance and expense management.
Ideal for: Businesses with $100,000+/month in transactions who can justify managing two platforms.
Disclosure: This review is based on independent testing and research. We may earn a commission if you sign up through our links, but this does not influence our editorial assessment.