Get to know Airwallex
Airwallex is a company specialising in helping businesses make their payments around the globe without borders and restrictions. They were founded in 2015 in Melbourne,Australia when their founders (Jack Zhang, Max Li, Lucy Liu and Xijing Dai) realised the difficulty that many small business owners faced when operating and working with suppliers overseas. Their goal is to empower businesses to operate anywhere, anytime.
What does Airwallex do?
Airwallex allows you to open a single business account and manage what you need to do from a simple platform. Here are the things that you can do from their website:
- Transfers and FX
- Low cost and high-speed international payments
- Global accounts
- Open domestic and international accounts in minutes
- Borderless Cards
- Instantly create multi-currency payment cards
- Payment Links
- Create simple links to instantly get paid
- Reconcile all your business expenses in one place
- Get exclusive offers from leading business tools
Airwallex’s FX rates – Are they competitive?
SaverAsia values transparent money transfers, so we investigated this. Airwallex offers no fee, ultra-low-cost FX margin transfers. For ‘major‘ currency pairs, the cost is 0.3%. For other currency pairs, it is 0.6%. This is one of the lowest in the market.
How does Airwallex work?
Through Airwallex, you can use multiple accounts based in different countries. This way you can avoid long wait times and FX fees when transacting in different currencies or countries. With this approach, Airwallex is also able to avoid SWIFT fees for many transfers (but not all).
Is Airwallex a bank?
Airwallex is not a bank. Although they offer many financial services and consider themselves much more than a bank, they do not offer typical banking services such as loans and savings accounts.
Is Airwallex safe?
Airwallex is registered and licensed in 9 countries around the world, they have over 20,000 customers and are rated 4.0/5 on Trustpilot. Check out the reviews here.
How to use Airwallex?
You can sign up for Airwallex’s business account online, and access your account from there. You can begin setting up global currency accounts and using other functions from your dashboard.