9 Key Things to Know Before Opening an Airwallex Account [2026]

If you are considering using Airwallex for your business, you’ve made the right choice to do some research before opening an account. 

This guide walks you through 9 practical things to check upfront, including how the account is structured, what varies by region, where onboarding can slow down, and costs that can affect everyday use.

Read on to find out everything you need to know before opening an Airwallex account.

Airwallex is a global payments and financial platform founded in 2015 in Melbourne, Australia. The company is headquartered in Singapore and San Francisco, with offices across Asia-Pacific, Europe, and North America. 

The platform provides a range of financial services for businesses of all sizes, including multi-currency business accounts, FX and international transfers, corporate cards, and payment APIs. 

Airwallex is currently valued at USD 8 billion and serves more than 200,000 businesses worldwide, processing over USD 235 billion in payments annually.

Yes, Airwallex is considered safe for business use. It is not a traditional bank, but it operates as a licensed payment services provider in multiple jurisdictions, authorised to offer business payment and multi-currency services.

The company holds financial service licenses in markets, including Hong Kong, Singapore, Australia, the Netherlands, the United Kingdom, the United States, Canada, China, Lithuania, Malaysia, and New Zealand. This means Airwallex is regulated by financial authorities in those regions and must follow local rules on safeguarding funds, risk controls, and data protection.

Airwallex also employs various security approaches, which include advanced fraud detection, encryption, and continuous monitoring to ensure your data is secured.

Airwallex works through two linked product types. Global Accounts give you local account details in selected markets, such as a sort code, IBAN, or routing number, so customers can pay you in local currency as if you had a local bank account in that market. When money arrives, it is routed to your Multi-Currency Wallet, which is where you hold funds, convert currencies, and make transfers.

One thing to know upfront is that Global Accounts are for receiving only. Once funds arrive, you manage them from the wallet.

Below are the key benefits you can expect from this setup:

✔️ Receive funds in 20+ currencies using local account details in selected markets (HKD, SGD, EUR, USD, and more)

✔️ Hold funds centrally in your Multi-Currency Wallet and convert currencies when needed

✔️  Send transfers to 200+ countries via various payment systems, such as SWIFT and local payouts (limits can vary by currency and transfer method; see Airwallex’s payout and deposit limits guide)

✔️ Issue corporate cards so you and your team can spend from your account balance (*ATM withdrawals not supported)
✔️ Connect to tools like Xero, QuickBooks, Shopify, or Amazon to support reconciliation and reporting

Airwallex Hong Kong charges a 0.3% fee for each incoming payment from a non-linked account. 

This fee isn’t disclosed during sign-up or on the pricing page. It only becomes visible once your account is set up and you view the fee breakdown within the platform.

For businesses that receive frequent payments from clients or partners, your costs can add up quickly. It’s an important detail to consider when comparing Airwallex with other Hong Kong business account providers like Statrys.

It’s free to open an Airwallex business account. There are no initial fees, minimum deposits, or balance requirements.

However, like most providers, various fees apply once the account is in use. These include fees for receiving payments, FX conversion, sending payments, FX markup fees, and others.

The fee structure varies by region. For instance, while most regions do not charge a monthly fee, Airwallex in Australia and the UK uses a tiered monthly fee model. In this case, you can waive the monthly fee by maintaining a minimum balance.

It’s also important to be aware of receiving fees, which differ by region and are not always clearly disclosed.

In Singapore, for example, there’s a 0.6% fee for receiving Korean Won transfers, which is clearly listed on the fee schedule. However, in Hong Kong, a 0.3% fee applies to incoming payments from non-linked accounts, and this detail only becomes visible after your account is set up.
For precise, country-specific details, refer to Airwallex's fee schedule page and select your country for accurate information.

Not every business can open an Airwallex account. Eligibility mainly depends on where your company is registered and the industry you operate in. The sections below help you check this quickly before you start the application.

Airwallex can only onboard companies registered in supported jurisdictions.

Main onboarding regions include:

• Australia
• Canada
• Europe
• Hong Kong
• New Zealand
• Singapore
• United Kingdom
• United States and Mexico

Supported regions can change, so Airwallex may add, remove, or update its list from time to time. You can check the full list of eligible countries and territories on Airwallex’s official Eligible Countries and Territories page.

Airwallex does not support every industry. Some industries are prohibited, which means you cannot open an account. Others are restricted, meaning approval is not guaranteed, and additional checks may apply.

If your business operates in a prohibited category, you cannot open an Airwallex account. Common examples include adult content, illegal or unlicensed gambling, counterfeit or unauthorised goods, weapons or military-related trade, and regulated financial services without a valid licence.

Being outside the prohibited list does not guarantee approval. If you operate in restricted areas such as financial services, crypto and digital assets, charities/NGOs, marketplaces or dropshipping, certain chemicals, or travel-related arrangement services, expect extra checks.

Even if your business is eligible to open an Airwallex account, what you can use inside the platform can still vary depending on your registered business location. This is because Airwallex needs the right local licences and product approvals to offer certain tools in each market.

Use the quick table below to spot the main differences.

See Airwallex’s official guide for the most up-to-date feature breakdown.

Before your account is approved, Airwallex checks your business and the people who own or control it. What they ask for depends on where your company is registered and what type of business it is. In straightforward cases, approval is often within 1–3 business days after submission.

Where it can slow down is when Airwallex needs extra detail. Here are the most common triggers:

• Ownership that's hard to trace: if your ownership runs through holding companies, overseas entities, or trusts. A signed ownership chart showing the full chain is the quickest way to keep things moving. If no one owns 25% or more, you will still need to name the control person.
• Limited trading history: newer businesses may be asked to show proof you're operating, such as invoices, signed contracts, bank statements, or a working website.

You may also see extra checks depending on where your company is registered.

Refer to Airwallex’s “Preparing KYC Documentation” page for an updated list of required documents before you apply.

Airwallex is a solid choice for multi-currency and cross-border payments, but it may not suit every business. If you want clearer cost expectations and more hands-on support, Statrys is worth considering.

Founded in 2020, Statrys is a modern payment solution for SMEs incorporated in Hong Kong, Singapore, or the British Virgin Islands (BVI). It is licensed as a Money Service Operator in Hong Kong and Singapore, and registered as a Small Payment Institution in the UK.

With Statrys, you can hold and manage funds in 11 major currencies and save more on conversions with FX fees starting from 0.1%. Statrys also focuses on simple and transparent pricing so you can easily estimate costs.

Every account comes with a dedicated account manager you can actually talk to when you need assistance. The account opening process is entirely online, and 96% of our clients were able to open their business accounts within 3 business days.

Finally, a Statrys business account now gives you access to pay-per-use accounting services in one place.