Airwallex

Default APAC business account in this register. Mercury wins US start-ups; Airwallex wins multi-entity trade.

Airwallex is a Singapore-headquartered payments and global-accounts platform. It issues local account details and expense cards so companies can collect and pay like locals. It is not a retail bank; funds are safeguarded under payments licences.

Airwallex lists Payments / EMI-class licences by market under MAS / multiple in Singapore / global. On safeguarding we currently write: Safeguarded / stored-value — not a retail bank deposit scheme. An AML programme is claimed. Local bank details (IBAN / sort code / equivalent) are part of the pitch. We list 6 live markets on the product. As we score the sticker: monthly Account often free · FX and scale pricing on the corridor; FX Transparent conversion + payment fees; typically beats banks; ATM Card ATM fees on the expense card. This desk would open it for: Exporters, marketplaces, and Aussie/Asian scale-ups paying suppliers in many currencies.

What it does well: Corridor coverage that Wise Business still fights; Expense cards on the same ledger; Australia and Asia density. What to watch: Not a deposit-taking bank; Onboarding is a proper KYB process; Pricing gets real at volume — read the file. Desk score 8.3 / 10 (safety 7.8, fees 8.6, features 8.8, app 8.0). Last verified 2026-08-01. Headquartered in Singapore, Singapore; founded 2015. None of this is advice — it is a file so you can read the entity before the card colour.