Airwallex

Global business accounts from a Singapore-born payments company.

Legal entity: Airwallex Pty Ltd and local entities — EMI / payment licences by market

Business bankingactiveSingapore

Tap a star to jump to reviews

8.3Strong
Alternatives

Five questions

At a glance

  • Is it a bank?

    No. Airwallex is not a licensed bank. Confirm who the money sits with before you send salary there.

  • If it fails?

    Safeguarded / stored-value — not a retail bank deposit scheme

  • Salary?

    Business can pay staff. Do not treat Airwallex as your only licensed home-bank salary account.

  • Open from abroad?

    Companies. KYB by market (SG, AU, UK, US, HK, UAE and more).

  • Monthly fee

    Account often free · FX and scale pricing on the corridor

  • Account number

    Multi-rail local details via partners — not a single HQ IBAN

NeoBankDB Verdict

Licence first · score second

8.3

/10 · Strong

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

What it is

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.

Best for: Exporters, marketplaces, and Aussie/Asian scale-ups paying suppliers in many currencies.

Last checked 2026-08-01. Not advice.

What it does well

  • +Corridor coverage that Wise Business still fights
  • +Expense cards on the same ledger
  • +Australia and Asia density
  • +Founder-grade API

What to watch

  • −Not a deposit-taking bank
  • −Onboarding is a proper KYB process
  • −Pricing gets real at volume — read the file
  • −Consumer app is not the product

Legal entity, not the app icon

Who is behind it

Legal name
Airwallex Pty Ltd and local entities — EMI / payment licences by market
Founders
Jack Zhang, Max Li, Lucy Liu, Ki-Lok Wong
Offices
Singapore, Melbourne, London, San Francisco and more
If something goes wrong
Local regulator of the entity you contracted with (FCA, MAS, ASIC, etc.)

Who holds the money

The account

Platforms
Web · iOS · Android
Account types
Business global accounts · expense cards
Minimum balance
$0
Lowest monthly fee
$0 (corridor pricing on FX)
Who can open
Companies; KYB by market
Availability
SG, AU, UK, US, HK, UAE and more
IBAN country
Multi-rail local details via partners — not a single HQ IBAN
Support
In-app / email — B2B
Hours
B2B support hours by region
Remote open
Companies. KYB by market (SG, AU, UK, US, HK, UAE and more).
Onboarding
KYB. FX and local collection are the product, not a salary current account.
KYC documents
Incorporation, ownership, directors' IDs — market pack
Minimum age
Company KYB
Languages
EN and localisations
Salary / payroll
Business can pay staff. Do not treat Airwallex as your only licensed home-bank salary account.
Local rails
Local collection accounts in live corridors · FX · cards
ATM network
Expense cards — not a consumer ATM network
Overdraft
None as a consumer overdraft

How money actually moves

Who holds the cash
EMI safeguarded funds
How money moves
IBAN / SEPA · ACH / USD · Faster Payments
Built for
Business · Freelancer
Settlement
Local rails instant where live; SWIFT slower
Freeze risk
Fintech reviews can pause inbound while they check a transfer
Card
Airwallex lists a physical card and a virtual card on visa, plus Apple Pay and Google Pay. Confirm the live product in the app — a card is not a current account.

Licence first

Safety

Safeguarded / stored-value — not a retail bank deposit scheme

  • MAS / multiplePayments / EMI-class licences by market · Singapore / global
  • ASIC / AUAFSL / payments · Australia

Fees

Monthly
Account often free · FX and scale pricing on the corridor
FX markup
Transparent conversion + payment fees; typically beats banks
ATM
Card ATM fees on the expense card

Features

  • ✓IBAN
  • ✓Fee-free core
  • ✓Multi-currency
  • ✓Apple Pay
  • ✓Google Pay
  • ✓Virtual card
  • ✓Physical card
  • –Metal card
  • –Crypto
  • –Stocks
  • ✓Business
  • –Kids
  • –Halal
  • Multi-currency global accounts
  • Local payment rails (ACH, BECS, FPS, SEPA)
  • Expense cards
  • Yield on balances in some regions
  • APIs and ERP connectors

Editorial, not a live demo

Screenshots and video

Official YouTube · Airwallex

Media is editorial context, not a live demo of the app. Screenshots go stale — read the licence first.

Before you tap Sign up

How to open

  1. Step 1

    Company, not personal

    Airwallex is a business FX and collections stack. If you wanted a consumer current account, look at Wise personal or a licensed local bank.

  2. Step 2

    Name the entity

    Licences are by market. The Singapore, UK, and AU entities are different files.

Official help: help.airwallex.com

Operator documents

Their own papers

These are the operator’s documents. They outrank this review if they disagree.

Score

Safety25%
7.8
Fees20%
8.6
Features15%
8.8
App15%
8.0
Global15%
9.2
Support10%
7.4

Change log

Full log
  1. Licence

    Payments / EMI-class licences by market

    MAS, ASIC and others. Not a retail bank. Global payouts are the product.

  2. Licence

    Payments / EMI-class licences by market

    MAS, ASIC and others. Not a retail bank. Global payouts are the product.

Straight answers

FAQ

01

Is Airwallex a bank?

No. Airwallex is filed as Payments / EMI-class licences by market. Read who holds the money before you treat it as a salary account.

02

What happens to money in Airwallex if it fails?

Safeguarded / stored-value — not a retail bank deposit scheme

03

What does Airwallex charge each month?

The monthly fee on this file is Account often free · FX and scale pricing on the corridor. Fees change — open the operator's pricing page if it is linked.

Ratings and reviews

4.0 / 5 from 1 published review on NeoBankDB.

  • Finance lead, SG

    Singapore· 2026-08-27Verified user

    Multi-entity payouts. KYB is real. This is not a consumer app.

Rate & review

Used Airwallex?

Stars plus a short note. We publish after a NeoBankDB read. “Verified user” is our tick, not yours.

Your rating

Alternatives

From NeoBankDB