Airwallex vs Revolut Business: Which is Better for Cards, FX, and Perks in Australia?

Picture this: Sarah runs a thriving Melbourne-based e-commerce startup selling sustainable fashion accessories. Her team of 8 remote workers spans across Australia, the UK, and Southeast Asia. Every month, she juggles multiple financial headaches: paying international contractors, managing team expense cards, converting currencies at painful rates, and drowning in receipt reconciliation. Sound familiar?

Sarah’s dilemma represents the modern Australian business reality. Traditional banks have left a gaping void in the market for businesses that operate globally but think locally. Enter two fintech powerhouses: Airwallex and Revolut Business. Both promise to solve Sarah’s problems, but which one actually delivers for Australian businesses in 2025?

This comprehensive comparison cuts through the marketing noise to give you the unvarnished truth about corporate cards, foreign exchange rates, business perks, and the hidden costs that could make or break your choice. By the end, you’ll know exactly which platform fits your business like a glove.

The Tale of Two Fintechs: Understanding What You’re Really Choosing Between

Before diving into the nitty-gritty details, it’s crucial to understand the fundamental DNA of each platform. This isn’t just about features—it’s about business philosophy and who they’re really built for.

Airwallex: The Developer-First Global Finance Platform

Born in Melbourne in 2015, Airwallex emerged from the frustration of entrepreneurs who couldn’t efficiently manage international payments for their cafe business. This origin story matters because it shaped their core mission: building sophisticated financial infrastructure for businesses that operate across borders.

Airwallex is fundamentally an API-first platform. While they’ve built user-friendly interfaces, their strength lies in deep integrations, complex international operations, and providing the financial plumbing for businesses that need more than basic banking. Think of them as the “engineer’s choice”—powerful, comprehensive, but requiring some technical sophistication to fully leverage.

Revolut Business: The All-in-One App Experience

Revolut Business, the commercial arm of the UK fintech giant, represents a different philosophy entirely. They’ve taken the sleek, mobile-first approach that made their personal banking app a sensation and applied it to business banking. Their mantra is simplicity and consolidation—everything you need in one beautiful app.

Revolut Business is the “startup founder’s choice”—intuitive, feature-rich, and designed for teams that want powerful functionality without complexity. They excel at making advanced financial tools feel as simple as ordering an Uber.

Corporate Cards Showdown: Where Your Team’s Spending Really Happens

For most Australian businesses, corporate cards aren’t just a nice-to-have—they’re the daily interface between your team and your financial controls. Both platforms offer sophisticated card programs, but their approaches couldn’t be more different.

Airwallex Cards: Enterprise-Grade Control with Australian Precision

Airwallex treats corporate cards as part of a broader expense management ecosystem. Their Visa cards (both virtual and physical) come with granular spending controls that would make a CFO weep with joy:

• Merchant Category Controls: Block specific business types (no more “team bonding” at the Crown Casino)
• Time-Based Restrictions: Set cards to only work during business hours
• Geographic Limits: Restrict usage to specific countries or regions
• Multi-Level Approval Workflows: Configure complex approval chains for different spending thresholds

The real magic happens in their integration capabilities. Airwallex cards automatically capture transaction data, receipts, and even GPS locations. This data flows seamlessly into accounting platforms like Xero and QuickBooks, eliminating the monthly nightmare of expense reconciliation.

The Australian Advantage: As a Melbourne-founded company, Airwallex understands Australian business culture. Their default settings and merchant categories are tuned for the local market, and their support team operates in AEST.

Revolut Business Cards: Simplicity Meets Sophistication

Revolut Business takes a more democratic approach to cards. Every team member gets a free card (up to the plan limit), and the mobile app makes expense management genuinely enjoyable. Key differentiators include:

• Instant Virtual Cards: Generate new cards in seconds directly from the mobile app
• Subscription Management: Easily track and cancel recurring software subscriptions
• Real-Time Notifications: Every transaction triggers an instant notification with spending analytics
• Team Spending Insights: Beautiful dashboards showing spending patterns by team, category, and time

Where Revolut really shines is in user experience. Their mobile app feels like a consumer product—intuitive, fast, and genuinely pleasant to use. For teams that have struggled with clunky expense tools, this is a revelation.

The Reality Check: While Revolut’s cards work globally, some Australian merchants occasionally flag international cards. This is less common in major cities but can be frustrating for businesses operating in regional areas.

Card Costs: The Hidden Math That Matters

Foreign Exchange: Where Every Basis Point Counts

For Australian businesses dealing with international suppliers, customers, or contractors, foreign exchange isn’t just a feature—it’s a profit center or a cost center depending on how well you manage it.

Airwallex FX: The Transparent Markup Model

Airwallex operates on a straightforward markup model: they add 0.5% to 1.0% above the interbank rate depending on your plan and transaction volume. This transparency is refreshing in an industry known for hidden margins.

Key FX Features:

• Multi-Currency Wallets: Hold 20+ currencies and avoid forced conversions
• Spot Rate Conversions: Convert currencies at current market rates
• Local Account Numbers: Receive payments in local currencies without conversion
• API Access: Automate currency conversions based on your business rules

Real-World Example: A Sydney software company paying a $50,000 USD invoice to a US vendor would pay approximately $500-750 AUD in FX fees with Airwallex, compared to $2,000-3,000 AUD with traditional Australian banks.

Revolut Business FX: The Plan-Based Allowance System

Revolut Business uses a more complex but potentially more cost-effective approach. Each plan includes FX allowances at the interbank rate, with different rates applying once you exceed your monthly limit:

• Starter Plan: $10,000 AUD equivalent at interbank rate
• Standard Plan: $50,000 AUD equivalent at interbank rate
• Premium Plan: $250,000 AUD equivalent at interbank rate

After exceeding your allowance, Revolut adds a 0.6% markup—still competitive but higher than Airwallex’s top-tier pricing.

The Strategic Consideration: If your monthly FX volume is predictable and falls within Revolut’s allowances, you could achieve significant savings. However, if your volumes fluctuate or exceed limits, Airwallex’s consistent pricing might be more cost-effective.

FX Feature Comparison: Beyond the Headline Rates

Business Perks: The Value-Adds That Could Swing Your Decision

Modern fintech platforms compete not just on core banking features but on the ecosystem of business tools and integrations they provide. This is where personal preference and specific business needs become crucial factors.

Airwallex Perks: The Developer and Accounting Integration Paradise

Airwallex’s perks are heavily skewed toward businesses that value deep integrations and financial automation:

• Comprehensive API Access: Build custom financial workflows and embed payment processing
• Native Accounting Integrations: Seamless two-way sync with Xero, QuickBooks, NetSuite, and Sage
• E-commerce Platform Plugins: Direct integrations with Shopify, WooCommerce, and Magento
• Airwallex Yield: Earn returns on idle AUD and USD balances (competitive rates)
• Advanced Reporting: Detailed analytics and custom report generation
• Priority Support Channels: Dedicated account managers for higher-tier plans

The real value for Australian businesses lies in the accounting integrations. Airwallex can automatically categorize transactions, match receipts, and even generate GST reports—saving hours of bookkeeping work monthly.

Revolut Business Perks: The Startup Ecosystem Integration Hub

Revolut Business focuses on integrations with the modern startup toolkit and lifestyle benefits:

• Software Integrations: Native connections with Slack, Zapier, and QuickBooks
• Travel Benefits: Airport lounge access and travel insurance (plan dependent)
• Team Benefits: Discounts on popular business software and services
• Analytics Dashboard: Beautiful, real-time spending analytics and forecasting
• Salary Advances: Early access to salaries for team members (UK focus)
• Crypto Trading: Business cryptocurrency trading (regulatory compliance varies)

Revolut’s strength is in creating an integrated business lifestyle. Their perks appeal to young, tech-savvy teams who appreciate the convenience of managing multiple business needs through one platform.

The Hidden Costs: What the Marketing Materials Don’t Tell You

Both platforms are guilty of emphasizing their strengths while glossing over potential pain points. Here’s the unvarnished truth about what could cost you more than expected:

Airwallex Hidden Considerations

• Customer Support: Primarily email-based support can be slow during complex issues
• User Limits: $15/month per additional user after your first 2 team members adds up quickly
• Receiving Fees: 0.3% fee on funds received from non-owner accounts (often overlooked)
• SWIFT Fees: $15-30 AUD for traditional wire transfers when local payment rails aren’t available

Revolut Business Hidden Considerations

• Plan Limitations: Feature restrictions can force expensive plan upgrades
• FX Overage Costs: Exceeding monthly allowances can create unexpectedly high costs
• Australian Support: Support hours and local expertise may be limited compared to domestic providers
• Regulatory Differences: Some features may not be available or may work differently in Australia

Your Decision Framework: Which Platform Matches Your Business DNA?

The choice between Airwallex and Revolut Business isn’t about which is objectively better—it’s about which aligns with your business needs, team culture, and growth trajectory. Use this framework to guide your decision:

Choose Airwallex If:

Choose Revolut Business If:

Consider Alternatives If:

Real-World Case Study: How Melbourne Startup “GreenTech Solutions” Made Their Choice

To illustrate these principles in action, consider GreenTech Solutions, a Melbourne-based clean energy startup with 12 employees across Australia, Singapore, and the US. They were deciding between Airwallex and Revolut Business for their international expansion.

Their Requirements:

• Monthly USD payments to US contractors (~$30,000)
• SGD expenses for Singapore office setup
• Team expense cards for 12 employees
• Integration with their existing Xero accounting system
• Developer-friendly API for future product integrations

The Analysis:

Revolut Business Standard plan would provide $50,000 AUD in monthly FX allowances at interbank rates, covering their US payments. However, the startup needed robust expense management, deep Xero integration, and planned to build payment processing into their energy platform—features where Airwallex excelled.

The Decision:

GreenTech chose Airwallex despite slightly higher FX costs because the time savings from automated accounting integration and the strategic value of API access aligned with their long-term growth plans. The decision proved wise when they later integrated Airwallex’s payment processing into their customer billing system.

Making Your Move: Next Steps and Implementation

Once you’ve identified your preferred platform, the implementation process can make or break your experience. Both Airwallex and Revolut Business offer different onboarding experiences designed for their target audiences.

Getting Started with Your Chosen Platform

For Airwallex:

1. Complete the comprehensive business verification (2-3 business days)
2. Set up your first currency accounts and configure expense policies
3. Install and configure accounting integrations
4. Order physical cards and train your team on expense procedures
5. Consider API documentation review if you plan future integrations

For Revolut Business:

1. Quick mobile-first signup process (often same-day approval)
2. Download the mobile app and invite team members
3. Configure spending limits and notification preferences
4. Set up any required software integrations
5. Explore the analytics dashboard and available perks

The Verdict: Two Excellent Platforms for Different Business Journeys

Both Airwallex and Revolut Business represent the future of business banking for internationally-minded Australian companies. Your choice ultimately depends on where you are in your business journey and what you value most.

Airwallex wins for: Businesses that need sophisticated financial infrastructure, prioritize deep integrations, and have the technical sophistication to leverage advanced features. It’s the choice for companies that view their financial platform as a competitive advantage.

Revolut Business wins for: Teams that value simplicity, want an all-in-one solution, and prioritize user experience over advanced features. It’s perfect for startups and small businesses that want enterprise-grade functionality without enterprise complexity.

The good news? Both platforms offer free trials and low minimum commitments, making it possible to test your choice before fully committing. In the rapidly evolving fintech landscape, the best platform is the one your team will actually use effectively.

Ready to transform your business’s international financial operations? Whether you choose Airwallex, Revolut Business, or decide to explore other alternatives, the key is making an informed decision that aligns with your business goals and growth trajectory.