Wise Business vs Airwallex Business: Which is better for your Business?

If you’ve ever considered using your personal account for business, it’s worth pausing to reconsider. Just like any typical business owner, one of your first essential steps should be opening a dedicated business bank account. This is especially so before you start making global payments to partners and suppliers.

Got that set up? Perfect. You’re likely now using that business account to handle international payments, and that’s where many hit a wall. Traditional business banking often comes with frustrating limitations for global operations:

• Expensive international transfers, with hidden FX markups and high wire fees.

• Slow processing times, often taking several business days for cross-border payments.

• Inconvenient financial infrastructures, sometimes requiring you to open separate accounts in other countries just to receive local payments.

• Outdated tools, lacking modern features for managing multi-currency cash flow, subscriptions, and integrated finance.

So, whether you’re optimizing your existing financial operations or launching a new business with international clients, you’re in the right place. What you truly need is a specialized cross-border payment solution to complement your traditional business bank account.

In this guide, we’ll walk you through how choosing the right modern business account can transform your financial management. We’ll compare Wise Business Account and Airwallex Business Account, breaking down their features, pricing, business card options, and more, to help you decide which platform aligns best with your business goals.

Wise Business Account vs Airwallex Business account: Account details and key features

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.

Because it isn’t a bank account, no minimum balance requirements are listed.

Wise Business vs Airwallex Business: Pricing

Wise business account offers a competitive one-time setup fee of $31, with no ongoing monthly fees, and transparent transaction fees starting from 0.57%, depending on the currency pair.

Airwallex platform, on the other hand, has no setup or monthly fees, offers free local transfers, and charges a small markup on currency conversion rates and fees (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.

But pricing isn’t the whole story. To truly compare value, you’ll want to look at a few other practical factors:

• What are the payment options to fund your transfer? Will you top up via bank transfer, debit, or credit card? Each method can have different fees, which adds up over time.

• What currencies can you hold? The ability to keep balances in multiple currencies can help you hedge against exchange rate swings and save on repeated conversions.

• How can you get paid? Look at which local account details you can receive like a US account number or EU IBAN. More options mean easier, cheaper payments from global clients.

These operational details don’t just affect convenience. They directly influence your long-term cost savings and cash flow efficiency.

Wise Business vs Airwallex Business: Corporate cards for business

It is sometimes called a business or commercial card or expense cards. This type of expense card act as a company-sponsored payment tool given to employees for work-related spending.

Unlike personal cards, the company is responsible for charges, not the employee, which simplifies the process and reduces manual work on your team.

Beyond just payments, corporate cards are powerful spend management tools. They offer:

• Centralized control and real-time spending oversight

• Streamlined reconciliation and policy enforcement through spending limits and category controls

• An end to out-of-pocket expenses and clunky reimbursement processes

Both Wise and Airwallex provide business card features, including physical and virtual cards with customizable spending controls. A couple of key differences to note: Wise offers transparent ATM withdrawals—two free withdrawals up to 100 USD per month. Meanwhile Airwallex steps up with built-in expense management tools and potential cash rebates on card spend.

In short, whether you’re looking for simplicity or deeper expense integration, both platforms turn corporate cards from a payment method into a smart financial command center for your business.

Other functions to consider

Batch payments

Batch payments are ultimate game changer. If you are looking to make up to a 1000 payments to different vendors, it can help cut manual work and allow you to focus more on your small businesses.

Both Airwallex and Wise allows you to make batch transfers through their platform.

Accounting software integration for embedded finance

Wise platform allows you to easily connect to your favourite accounting software and save time on admin.

• Xero

• QuickBooks

• More App Marketplaces: FreeAgent, RECASH and QuickFile

Airwallex financial platform integrates with popular everyday platforms so you can spend less time on manual operations and more time on your global growth.

• Xero

• QuickBooks

• Other apps: Amazon, BambooHR, Employment Hero, Hubspot, Lazada and more

So which is better for small businesses – Airwallex or Wise

There isn’t a one-size-fits-all winner. The best choice comes down to your business’s specific size, needs, and how you operate day-to-day.

Wise Business could be your perfect match if you’re a freelancer, consultant, or small-to-medium business where transparency, simplicity, and cost-effectiveness are top priorities. It’s designed for those who make regular international payments and want a clear, predictable fee structure without any fuss. With the ability to hold and convert 40+ currencies, plus practical perks like free ATM withdrawals, Wise offers a seamless, user-friendly experience that’s ideal for founders and small teams who handle their own finances.

On the other hand, lean toward Airwallex Business if you’re a fast-growing tech company, e-commerce brand, or scaling SME that needs deep integrations and advanced financial operations. Airwallex truly shines for businesses with higher transaction volumes and more complex workflows, especially those looking to connect their payments deeply with other e-commerce and operational apps.

Both platforms are powerful upgrades from a traditional business bank account, offering significant savings through lower fees, better FX rates, and more efficient transfers. Ultimately, it’s about choosing the tool that best fits your financial workflow.

Interested in exploring another streamlined solution?

Services like Instarem Business also offer competitive multi-currency accounts with real-time payments and virtual cards, providing another strong alternative as you build your ideal financial command center for global growth.

Getting started with Instarem is easy

1. Click here to get a free Instarem business account

2. Enter your company details

3. Once approved, add beneficiary details, saved for future transfers

4. 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, cost savings and fast & secure transactions.

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