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| Key Features ✅ Local currency accounts in 12 locations, including Hong Kong, Singapore, and Australia ✅ Integration with accounting software and marketplace platforms ✅ Separate corporate and employee cards ✅ 100% online application |
Key Features ✅ Multi-currency accounts for businesses supporting USD, EUR, GBP, AUD, HKD, and more ✅ Free and instant transfers between Payoneer accounts ✅ Payment automation with APIs ✅ Virtual and physical debit cards with cashback rewards |
| Best For SMEs and enterprises with global operations that require multi-currency accounts. |
Best For Freelancers, ecommerce sellers, and businesses involved in international transactions. |
| Trustpilot rating ⭐⭐⭐⭐ 3.8/5 Based on 1,030 reviews |
Trustpilot rating ⭐⭐⭐⭐ 3.9/5 Based on 52,576 reviews |
| Learn more about Airwallex | Learn more about Payoneer |
Airwallex Overview
Airwallex is an Australian fintech payment platform founded in 2015. It offers global online payment services exclusively for businesses, including multi-currency accounts with local bank details.
Airwallex was named one of the World’s Top Fintech Companies by CNBC-Statista in 2023 and has provided services to over 100,000 companies worldwide.
- Eligible countries: 52 countries and regions, including Australia, New Zealand, Hong Kong, Singapore, Canada, the UK, the US, and most European countries.
- Eligible company type: Any type of business, including but not limited to sole proprietorship, partnership, and limited company.
- Licences: Airwallex is licensed and regulated in the countries where it operates. It is registered as an Electronic Money Institution in Lithuania, allowing its operation in the EEA.
- Partner banks: DBS, JP Morgan, Standard Chartered, ANZ, and more.
Payoneer Overview
Launched in 2005, Payoneer is a New York-based payment service provider offering cross-border payment solutions for global businesses of all sizes, including mass payouts and multi-currency accounts.
Payoneer is trusted by millions of customers worldwide and operates from 25 global offices. It won the Best International Multi-Currency Business Payments Solution at the SME Finance Award 2023.
- Eligible countries: Most countries in the world.
- Eligible company type: All types of businesses. However, there may be restrictions in some locations.
- Licences: Payoneer operates under strict regulations and holds licenses in several jurisdictions. These include an E-money Institution licence in Ireland and the EEA, a Money Service Operator licence in Hong Kong, an Online Payment Gateway Service Provider (OPGSP) licence in India, and registration as a Money Services Business (MSB) in the US.
- Partner banks: Multiple global banks, including Barclays, Citibank, DBS, and Deutsche Bank.
Business Account Features
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| Supported Currencies | 21 currencies, including HKD, AUD, CAD, CHF, EUR, GBP, JPY, NZD, SGD, USD, DKK, CZK, HUF, MXN, NOK, PLN, RON, SEK, ZAR, CNY, IDR | 10 currencies, including USD, JPY, AUD, EUR, HKD, SGD, CAD, GBP, AED, and NZD. |
| International Payments (SWIFT) |  |
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| Accounting Software Integration | |
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| FX Features | Spot and forward service with FX rate starting from 0.2% | Spot and forward service with FX rate starting from 0.2% |
| Primary Pro | • Fast account opening time • Easy to track payments • Has an extensive payment network that allows users to transfer over 40 currencies to more than 250 countries |
• Products and services are available to businesses worldwide • Pay up to 200 payees at a time with batch payment • Send global payments in 70 currencies to bank accounts in over 190 countries |
| Primary Cons | • Limited customer support channels | • Currently does not provide FX services |
Airwallex vs Payoneer Features Rating
Airwallex’s Features Rating is 4.7/5
Airwallex offers broad currency support, competitive FX features, and an extensive global payment network, making it beneficial and especially suitable for global businesses engaging in international transactions.
Payoneer’s Features Rating is 4.2/5
Although Payoneer offers a comprehensive platform for international payments, its narrower currency support and lack of FX hedging services slightly impact its versatility for businesses looking for currency exchange solutions compared to Airwallex.
Business Account Fees
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| Account Opening Fee | Free | Free in most countries |
| Account Maintenance Fee | Free | USD 29.95 annual fee if you receive less than USD 2,000 (or equivalent) annually |
| Receive Local Payments | 0.3% on each payment received | USD: Up to 1% Other currencies: Free |
| Send Local Payments | Free | Free between Payoneer accounts, or depends on currencies* |
| Receive International Payments (SWIFT) | 0.3% on each payment received | Up to 1% |
| Send International Payments (SWIFT) | USD 15 - 25 HKD 120 - 200 |
Up to 3% |
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