Airwallex vs Payoneer: Accounts & Pricing [2024 Comparison]

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 

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

*Payoneer’s pricing is quite complex. We recommend checking their fees page directly for accurate information. 

Airwallex vs Payoneer Fees Rating

Airwallex’s Fees Rating is 4.7/5

Airwallex is a cost-effective solution for businesses of all sizes, with free account opening and maintenance fees. However, the 0.3% charge on each deposit received could add up over time.

Payoneer’s Fees Rating is 4.4/5 

Payoneer offers a transparent and straightforward fee structure. However, its annual fee for lower-volume accounts and potential charges for some payment types may affect its overall cost-effectiveness. 

Card Features and Fees

Airwallex vs Payoneer Card Features and Fees Rating

Airwallex’s Card Features and Fees Rating is 4.3/5

Airwallex’s multi-currency card features benefit global businesses with international operations, allowing users to pay in various currencies with adjustable payment limits, free card issuance, and a rewards programme. However, the lack of ATM access is a drawback compared to Payoneer.

Payoneer’s Card Features and Fees Rating is 3.9/5

While Payoneer supports fewer currencies than Airwalles and charges an annual fee for the first card, it maintains strong usability for international transactions. Its digital wallet compatibility and ATM access cater for a wider user base, but the higher currency conversion and ATM fees make it slightly less competitive than Airwallex.

Customer Support

Airwallex vs Payoneer Customer Support Rating

Airwallex’s Customer Support Rating is 3/5

Airwallex offers online-only assistance through a support request form and local phone support in limited locations. The limited communication channels may not fully satisfy all customers’ needs, especially in urgent cases.

Payoneer’s Customer Support Rating is 4.8/5

Payoneer offers multiple contact methods for personalised assistance, including local phone support and live chat with specialists. This is a practical approach to meet the needs of its global customer base, ensuring accessible and personalised support. 

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Alternative in Hong Kong: Statrys

Whether you are a freelancer with customers in other countries or a company with global operations, choosing the right business account is crucial for ensuring seamless cross-border transactions.

If your business is registered and incorporated in Hong Kong, Singapore, or the BVI, or if you are planning to expand to this region, consider Statrys

Statrys is an award-winning platform for seamless global payment solutions, including multi-currency business accounts that support 11 currencies: USD, HKD, CNY, AUD, EUR, GBP, SGD, JPY, CHF, NZD, and CAD. Additionally, Statrys offers company incorporation services in Hong Kong and Singapore, along with dedicated customer support from a multi-lingual team.

Statrys Services