Airwallex Business Account
Multi-currency SME wallet — $0 Explore, local rails + FX, cards/spend; not cash or branch banking
Costs & Fees
Monthly maintenance: Explore: $0/month per entity (US fee schedule — no published balance waiver). Grow: $12 per Spend User per month + additional Airwallex Platform fee (dollar amount Not disclosed). Accelerate/Custom: custom.
Fee waiver: N/A on Explore (already $0). Grow has no published balance waiver. Do not apply UK/EU/AU Explore waiver rules to U.S.
Transaction fees: No classic item-count checking fees. Cost drivers: FX, SWIFT/Fedwire, incoming Fedwire, exotic inbound %, Explore local-intl fees from 12 Oct 2026, optional acquiring, Grow seats.
Overdraft/NSF: Not disclosed / not a published overdraft product
ATM fees: Not disclosed. No ATM network marketed. CFSB card terms may allow ATM cash subject to limits/fees — product not designed as cash account.
Wire/ACH: Incoming US Fedwire into Global Accounts: $15. USA/Canada local networks in/out: $0. Outgoing FedWire/SWIFT SHA: $15; SWIFT OUR: $25. Incoming most currencies 0%; KRW/VND/BRL/MYR 0.60%. ACH/local USA-Canada $0 on SMB table.
Cash deposit: Not offered — Evolve Funds Availability: EFT only (ACH, wires, direct deposit). No cash or check deposits.
Interest & Yields
Checking APY: None — wallet / Global Account balances have no advertised deposit APY. Do not label as checking APY.
Savings APY: N/A — no separate FDIC savings product
FDIC coverage: Eligible USD at U.S. partner banks: FDIC pass-through up to $250,000 per qualified customer per institution in customer beneficial interest (omnibus FBO). Not Airwallex’s own operating cash.
Access, Features & Tools
Access
Branch/ATM: None. No marketed ATM network. Cash access unreliable / not a design goal.
Mobile app: App Store US ~4.8/5 (~426 ratings, Aug 2025 scrape); AppBrain ~4.84 (~478); older Google Play ~4.2 — recheck live stores.
Cash deposits: Not offered — no Allpoint+, Green Dot, night drop, armored courier
Features
Invoicing/bill pay: Global invoicing; subscription/usage billing (0.50% per successful card txn). Domestic + international bill pay; AI coding; batched payments. Grow+: rules automation, vendor approvals. Accelerate: PO + AI 3-way match.
Virtual cards: Included — unlimited virtual on marketing; merchant/limit controls Explore; richer rules Grow+
International: Core product. Local account details in 20+ currencies; collect 70+ countries (marketing); payouts 120+ local / 200+ SWIFT. Hold and convert in-wallet. FX 0.50%/1.00%.
Integrations
- ✓ Xero (Explore)
- ✓ QuickBooks bank feeds / expenses / bills (Explore)
- ✓ NetSuite (Grow+)
- ✓ Dynamics 365 Business Central (Grow+)
- ✓ HRIS (Grow+)
Limits & Requirements
Opening deposit: $0
Minimum balance: Not disclosed — no published minimum to keep account open
Eligibility: Legal business entity or sole proprietor; principal place of business in the United States (Airwallex US / Evolve). Corporation, unincorporated association, partnership, LLC, incorporated nonprofit, sole prop. Not for consumers/personal/household use.
Best for: No monthly fee (Explore) Multi-currency Local receiving details Strong FX pricing Virtual cards Expense management QBO and Xero International payouts Startup and SME cross-border Optional Yield MMF
Pros & Cons
Pros
- ✓ US Explore $0/month with no published minimum balance (US Fee Schedule, 18 Sep 2026)
- ✓ Transparent FX 0.50% majors / 1.00% others vs typical 2–4%+ bank markups
- ✓ Local-rail payouts and USA/Canada transfers $0; Grow/Accelerate exempt from Explore local-intl fees from 12 Oct 2026
- ✓ Local receiving in 20+ currencies reduces incoming international wire friction
- ✓ Cards + expense + bill pay + QBO/Xero on one wallet; Grow adds NetSuite-class controls; optional Yield ~3.3–3.6% net MMF
Cons
- ✗ Not a bank; FDIC pass-through $250k at partner banks (omnibus FBO); no advertised multi-bank sweep
- ✗ Yield is SIPC MMF — not FDIC and not checking APY
- ✗ No cash or check deposit rail
- ✗ Grow is $12 × Spend users + unpublished platform fee — hard to model from public docs
- ✗ Trustpilot 2.9/5 and freeze/hold complaint pattern; Explore has no dedicated RM; incoming Fedwire $15
Strong Pick (cross-border SaaS/marketplace needing multi-currency Global Accounts + FX + cards on $0 Explore)
Airwallex US is a money transmitter with USD at partner banks (Evolve named for certain customers) — FDIC pass-through $250k, no advertised ICS sweep. Explore $0; Grow $12/Spend user + undisclosed platform fee. Wallet FX 0.50%/1.00%; USA/Canada local $0; SWIFT $15/$25; incoming Fedwire $15. No cash/checks. Optional Yield MMF ~3.33–3.60% net (22 Sep 2026) is SIPC not FDIC. Strong for FX-heavy digital firms; weak for cash, branch, and freeze-averse buyers given Trustpilot 2.9.