Airwallex · Fintechs and neobanks
Airwallex Business Account review
Airwallex is a strong alternative to a traditional business account for companies dealing in several currencies. You can hold 20+ currencies, convert major currencies at 0.5% above interbank and issue cards with built-in expense management, all on the free Explore plan.
Who Airwallex is best for
Businesses paid in several currencies and teams paying overseas suppliers.
Businesses needing branch services.
Airwallex is a strong alternative to a traditional business account for companies dealing in several currencies. You can hold 20+ currencies, convert major currencies at 0.5% above interbank and issue cards with built-in expense management, all on the free Explore plan.
Fees, features and eligibility
| Monthly fee | CA$0 (Explore plan) |
|---|---|
| FX and international | 0.5% above interbank for major currencies |
| Account type | Fintech account |
| Currencies | 20+ currencies |
| Who can open it | Incorporated businesses registered in Canada; no minimum balance |
Source: Airwallex published product information.
What stands out
Pros
- 20+ currencies
- Low FX costs
- Free Explore plan
Cons
- Not a licensed bank
Airwallex: common questions
Is Airwallex a bank?
No. It’s a fintech business account rather than a licensed bank.
What does Airwallex cost?
The Explore plan is CA$0.
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