The Definitive 2025 Guide to Airwallex for Australian Businesses

Who is This Guide For?

If you’re an Australian business owner, finance manager, or CFO evaluating international payment solutions, this guide is specifically designed for you. Whether you run an e-commerce store like Threadheads, manage a professional services firm like Think & Grow, or operate a SaaS company like JobAdder, you’re likely facing the same frustrating challenges with traditional banking:

• Exorbitant foreign exchange fees that eat into your profit margins
• Slow international payment processing that delays your operations
• Poor customer service from traditional banks when you need help most
• Lack of transparency around hidden fees and charges

This comprehensive guide will answer your most pressing questions about Airwallex, including whether it’s safe, how it compares to competitors like Wise and Revolut, and most importantly—whether it’s the right solution for your specific business needs.

What is Airwallex (And What It’s Not)?

Airwallex is a Melbourne-founded global financial platform that enables businesses to send, receive, and manage money across borders without the traditional banking overhead. Founded by entrepreneurs who experienced firsthand the pain of high international transfer costs whilst trying to start a simple café, Airwallex has grown into one of Australia’s most significant fintech success stories.

Critically important: Airwallex is not a traditional bank. It’s a financial technology platform regulated by the Australian Securities and Investments Commission (ASIC). This distinction is crucial because it affects everything from how your funds are protected to the services they can offer.

Think of Airwallex as a sophisticated financial operating system designed for businesses that operate globally. Rather than maintaining separate accounts with multiple banks across different countries, Airwallex provides a single platform where you can:

• Hold and manage funds in over 20 currencies
• Send payments to 150+ countries
• Receive payments like a local business in major markets
• Issue corporate cards for team expenses
• Accept online payments through integrated gateways

Is Airwallex Safe & Legit? A Deep Dive into Regulation & Security

Before diving into features and fees, let’s address the elephant in the room: can you trust Airwallex with your business funds?

Regulatory Framework

Airwallex operates under a robust regulatory framework in Australia:

• ASIC Licensed: Holds multiple Australian Financial Services Licences (AFSL 487221 and 549026)
• AUSTRAC Registered: Registered with the Australian Transaction Reports and Analysis Centre for anti-money laundering compliance
• Fund Protection: Uses a bank guarantee from an APRA-regulated Authorised Deposit-taking Institution (ADI) to safeguard and segregate client funds

This regulatory structure means that whilst Airwallex isn’t a bank, your funds are protected through established Australian financial institutions. Your money is held in segregated accounts, separate from Airwallex’s operational funds.

Technical Security Measures

• PCI DSS Compliance: Meets Payment Card Industry Data Security Standards
• SOC1/SOC2 Compliance: Audited security controls for service organisations
• SSL Encryption: Bank-grade encryption for all data transmission
• Two-Factor Authentication: Required for account access

Disclaimer: This information is for general guidance only. For advice specific to your business circumstances, consult with a qualified Australian financial advisor or your accountant.

Core Features Deep Dive

Global Accounts & Multi-Currency Wallet

One of Airwallex’s standout features is the ability to open local accounts in over 20 currencies. This means you can receive USD payments with local US bank details, EUR payments with European bank details, and so forth—all without maintaining separate banking relationships in each country.

Practical Example: If you’re an Australian software company selling to US clients, you can provide them with local US bank details for ACH transfers, avoiding the international wire transfer fees and delays your clients would otherwise face.

International Transfers & Foreign Exchange

Airwallex enables payments to over 150 countries with foreign exchange rates typically 0.5-1% above the interbank rate. Whilst not the absolute cheapest option available (Wise uses the mid-market rate), it’s significantly better than traditional banks, which often charge 3-4% markups.

Transfer Methods Available:

• SWIFT wire transfers (AUD 15-30 fee)
• Local payment networks (often fee-free)
• Same-day transfers in major corridors

Corporate Cards & Expense Management

Airwallex provides both virtual and physical Visa corporate cards with sophisticated spending controls. You can set custom limits by merchant category, spending amount, or time period, and require receipt uploads for transactions above certain thresholds.

Key Features:

• Unlimited virtual cards for online subscriptions
• Physical cards for team members
• Real-time spending notifications
• Multi-level approval workflows
• Automatic receipt capture via mobile app

Payment Gateway & E-commerce Integrations

Beyond moving money, Airwallex offers payment acceptance solutions for businesses selling online. This includes payment links for invoices, hosted checkout pages, and direct plugins for popular e-commerce platforms.

Supported Platforms:

• Shopify
• WooCommerce
• Magento
• Custom integrations via API

Accounting Integrations

Airwallex integrates directly with major accounting platforms to automate reconciliation of multi-currency transactions—a significant time-saver for businesses juggling multiple currencies.

Supported Platforms:

• Xero
• QuickBooks
• NetSuite
• Sage

Airwallex Yield

A relatively new feature, Airwallex Yield allows businesses to earn returns on idle AUD and USD balances. This investment product is designed for businesses with larger cash holdings looking to generate passive income whilst maintaining liquidity.

Airwallex Pricing & Fees: A Transparent Breakdown

Understanding Airwallex’s fee structure is crucial for making an informed decision. The pricing model includes monthly subscription fees that can be waived under certain conditions, plus transaction-based fees.

Monthly Plans

Transaction Fees

• FX Markup: 0.5% – 1.0% above interbank rate
• SWIFT Transfers: AUD 15-30 per transfer
• Receiving Fee: 0.3% on deposits from non-owner accounts (often misunderstood)
• Additional Cards: $15/month per user after the first 2 users

Common Fee Confusion Points

Many users report confusion around the 0.3% receiving fee, which applies when receiving funds from accounts not owned by the same business entity. This fee was introduced relatively recently and isn’t always clearly communicated during the sales process.

The Unfiltered Pros & Cons

Based on extensive research, user feedback, and case studies, here’s an honest assessment of Airwallex’s strengths and weaknesses:

Pros

• Significant cost savings vs traditional banks: Case studies show savings of AUD 50,000+ annually for growing businesses
• Global reach: Send payments to 150+ countries and receive like a local in 20+ currencies
• Developer-friendly: Well-documented APIs for custom integrations
• All-in-one platform: Combines international transfers, currency accounts, corporate cards, and payment acceptance
• Strong regulatory standing: Multiple ASIC licences and established fund protection mechanisms
• Time savings: Businesses report 50% reduction in finance management time

Cons

• Customer support issues: Widely reported slow response times and email-only support for many queries
• Fund holds: Risk of funds being held during verification processes, sometimes without clear timelines
• Fee complexity: Pricing structure can be confusing, with some fees not clearly disclosed upfront
• No ATM access: Corporate cards cannot be used for cash withdrawals
• Industry restrictions: Certain business types (charities, investment firms) are prohibited
• Learning curve: Platform complexity can be overwhelming for businesses with simple needs

Airwallex vs. The Competition: A Head-to-Head Overview

The international business banking landscape in Australia is highly competitive. Here’s how Airwallex compares to its main rivals:

Detailed Comparisons

For comprehensive head-to-head analyses:

• Airwallex vs Wise Business: The 2025 Showdown for Australian SMEs
• Airwallex vs Revolut Business: Which is Better for Cards, FX, and Perks in Australia?
• The Top 5 Airwallex Alternatives for Australian Businesses

Who is Airwallex Best For? (And Who Should Avoid It?)

Airwallex is Ideal For:

• Scaling technology companies with significant international transaction volumes (like JobAdder, which saves AUD 50,000 annually)
• E-commerce businesses selling globally and needing integrated payment acceptance
• SaaS companies paying international contractors and receiving global subscriptions
• Growing businesses that can meet the balance thresholds to waive monthly fees
• Companies with development resources that can leverage Airwallex’s APIs for custom integrations
• Businesses seeking an all-in-one solution combining international transfers, currency accounts, and corporate cards

Consider Alternatives If You:

• Need simple, low-volume transfers with the absolute lowest FX rates (consider Wise Business)
• Require immediate, phone-based customer support for critical issues
• Are a freelancer or very small business unable to meet balance waiver thresholds
• Need ATM access for corporate cards
• Operate in prohibited industries (charities, investment firms, certain financial services)
• Make large, infrequent transfers and need FX hedging tools (consider OFX Business)

Industry-Specific Considerations

E-commerce Stores: Airwallex excels with its Shopify integration and ability to receive payments in local currencies, reducing customer friction.

Professional Services: The expense management and approval workflows are particularly valuable for consulting firms and agencies with distributed teams.

SaaS Companies: The API-first approach and multi-currency subscription handling make Airwallex a natural fit for software businesses.

Importers/Exporters: Local receiving accounts in major currencies can significantly reduce processing times and costs for international trade.

Conclusion & Final Verdict

Airwallex represents a compelling solution for Australian businesses that have outgrown traditional banking but need more sophistication than basic money transfer services. With potential savings of tens of thousands of dollars annually and significant operational efficiencies, it’s particularly well-suited for scaling technology companies and e-commerce businesses.

Our Overall Rating: 4.2/5

Strengths: Comprehensive feature set, significant cost savings, strong regulatory framework, excellent API documentation.

Weaknesses: Customer support issues, fee complexity, fund hold risks, steep learning curve for simple use cases.

Bottom Line

Airwallex is an excellent choice for businesses with complex international financial needs and the operational sophistication to maximise its capabilities. However, smaller businesses or those requiring hands-on support may find better value with more focused alternatives.

Next Steps

Ready to make a decision? Here are your next steps:

1. Assess your specific needs: Review our detailed comparisons to understand which provider best matches your business model
2. Get expert guidance: Speak with a CAFX currency specialist for personalised advice and competitive quotes tailored to your transaction patterns
3. Dive deeper into specific areas: Use the links below to explore particular aspects of Airwallex in detail

Essential Reading for Your Decision

• Safety concerns? Read our security analysis
• Fee transparency? See our complete fee breakdown
• Support quality? Check our customer service review
• Need comparisons? Start with our alternatives guide

Important Disclaimer: This review is for informational purposes only and does not constitute financial advice. Exchange rates, fees, and features may change. Always verify current pricing and terms directly with Airwallex and consult with a qualified Australian financial advisor before making financial decisions for your business.