Airwallex · Debit
Airwallex Corporate Card review
Airwallex gives Canadian businesses Visa business debit cards that spend straight from balances in more than 20 currencies, with no foreign card transaction fees. When you do convert, major currencies cost 0.5% above the interbank rate.
Who Airwallex is best for
Businesses holding money in many currencies, teams that want expense management included for free and companies paying overseas suppliers by card.
Businesses that need credit and teams that need physical USD cards.
Airwallex gives Canadian businesses Visa business debit cards that spend straight from balances in more than 20 currencies, with no foreign card transaction fees. When you do convert, major currencies cost 0.5% above the interbank rate. Local CAD spend earns up to 1% in cash rebates.
The free Explore plan covers up to 10 spend users and includes expense management. CAD cards come in physical and virtual form; USD cards are virtual only. It’s a strong fit for businesses that collect and pay in several currencies. Airwallex is rated 3.9 on Capterra from 15 reviews, with customer support scoring lowest.
Fees, features and eligibility
| Rewards | Up to 1% cash rebates on local CAD spend |
|---|---|
| Annual fee | CA$0 |
| Fees | CA$0 (Explore plan) |
| Payment terms | Spends from account balance |
| Foreign transaction fee | 0% card fee; conversions 0.5% above interbank for major currencies |
| Card type | Debit |
| Eligibility | Incorporated businesses registered in Canada; no minimum balance |
| Currencies | 20+ currencies held; CAD physical and virtual cards, USD virtual |
Source: Airwallex published product information.
What stands out
Pros
- 0% foreign card transaction fees
- Spends from balances in 20+ currencies
- Free Explore plan with expense management
Cons
- Debit card, so no credit
- USD cards are virtual only
- Customer support scores lowest in reviews
Airwallex: common questions
Does the Airwallex card charge foreign transaction fees?
No. Airwallex charges 0% foreign card transaction fees when you spend from a held balance.
What does Airwallex charge to convert currencies?
0.5% above the interbank rate for major currencies.
Does Airwallex pay cashback in Canada?
Up to 1% in cash rebates on local CAD spend.
Is Airwallex free?
The Explore plan is CA$0 and covers up to 10 spend users.
Is the Airwallex card a credit card?
No. It’s a Visa business debit card that spends from your account balances.
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