Airwallex vs Wise vs Revolut

If you’re comparing Airwallex, Wise, and Revolut, you’ve probably noticed they all sit in the same broad “fintech for moving money across borders” bucket. That’s where the resemblance largely ends. One of these three is built primarily for businesses, another has spent a decade perfecting cheap consumer international transfers, and the third is now a fully-licensed UK bank with a sprawling product suite that includes crypto, stock trading, and savings.

This guide breaks down what each one actually does, what it costs, who it’s for, and how the three compare head-to-head. Whether you’re a sole trader sending invoices to overseas clients or a consumer planning a holiday, there’s a clear best-fit here — and it’s not the same answer for everyone.

The fundamental distinction: business vs consumer

Before anything else, the most important thing to understand is that Airwallex is a business-only platform. It does not offer a personal or consumer account. You cannot open an Airwallex account to manage your own money, get a personal debit card, or send money to a friend abroad. It exists to serve businesses — from early-stage startups to mid-market companies — that need to collect, hold, and send money in multiple currencies.

Wise and Revolut, by contrast, both offer consumer products alongside their business tiers. Wise’s personal account is one of the most popular multi-currency accounts in the UK, and Revolut’s consumer app is used by millions of UK residents for everyday spending, travel, and investing.

This means the question isn’t really “Airwallex vs Wise vs Revolut” in a straight fight — it’s “do you need a business platform (Airwallex), or are you looking for a personal account (Wise or Revolut)?” With that framing out of the way, let’s look at each provider in detail.

Airwallex — full review

Airwallex is a global financial platform founded in Melbourne in 2015, now headquartered in Singapore with offices in London and elsewhere. It is authorised and regulated by the Financial Conduct Authority (FCA) as an electronic money institution, and in the UK it holds local account details allowing businesses to receive payments as though they held a local bank account in supported countries.

What it offers

Airwallex gives businesses:

• Multi-currency accounts with local receiving details in 60+ countries (GBP, USD, EUR, AUD, CAD, SGD, HKD, and more)
• International payments to 150+ destinations
• Virtual and physical corporate cards (Visa) with spend controls
• Payment acceptance — embed checkout, accept card payments, and settle in multiple currencies
• FX management — convert currencies at interbank rates plus a small margin
• API access for businesses that want to build payments into their own software
• Integrations with Xero, QuickBooks, NetSuite, Shopify, Amazon, and other platforms

Pricing and FX

Airwallex does not charge a monthly account fee on its standard business plan. The core cost structure is:

• FX conversion: Interbank rate plus a margin that typically ranges from 0.3% to 0.6%, depending on currency pair and volume. Higher-volume businesses can negotiate tighter spreads.
• Local transfers: Generally free in supported corridors (e.g. GBP Faster Payments, EUR SEPA, AUD NPP).
• International (SWIFT) transfers: Fees vary by destination and currency, typically from £6 to £30 per transfer, with some corridors cheaper.
• Card spending: No fee on domestic transactions; a 1% cross-border fee may apply when spending in currencies you haven’t pre-funded.
• Card top-ups: Free via local bank rails; a small fee applies for SWIFT-funded top-ups.

The headline draw is that Airwallex quotes the interbank rate and adds a transparent margin, so businesses know roughly what they’re paying without buried markup. This is materially cheaper than most high-street banks, which often embed 2–4% FX markups on business international payments.

Pros

• Built specifically for business use — no consumer account confusion
• Local receiving accounts in 60+ countries reduce inbound payment friction
• Transparent FX at interbank plus a small, disclosed margin
• Strong API and integration ecosystem for finance teams
• FCA-regulated e-money institution with segregated client funds
• No monthly account fee on the standard tier

Cons

• No consumer or personal account at all — not an option for individuals
• Pricing on SWIFT transfers can add up for frequent low-value international wires
• Onboarding can take longer than a consumer fintech (KYB requirements)
• Customer support is business-hours oriented, not 24/7 chat like some consumer apps
• Less brand recognition with counterparties than Wise, which can matter when sending money to suppliers who recognise the name

Who should use Airwallex?

Any UK business — sole trader, limited company, or startup — that regularly invoices in foreign currencies, pays overseas suppliers, or sells internationally. If you’re collecting USD from US customers and paying a manufacturer in China, Airwallex handles both legs cleanly. If you’re an individual looking for cheap travel money, this is not your platform.

Wise — full review

Wise (formerly TransferWise) was founded in London in 2011 and is now listed on the London Stock Exchange. It is the reference point for cheap international money transfers. Wise is authorised by the FCA as an electronic money institution under FRN 900508, and client funds are held in segregated accounts at tier-one banks. It is not a bank and deposits are not covered by the FSCS — a point worth understanding clearly.

What it offers

Wise’s personal account includes:

• Multi-currency account holding 40+ currencies with local account details for GBP, EUR, USD, AUD, NZD, CAD, and more
• International transfers at the mid-market rate plus a small, transparent fee
• Wise debit card (Visa) for spending in any supported currency
• Wise Interest — earn return on GBP, USD, and EUR balances held as money market fund shares
• Instant transfers to many UK and European bank accounts

Wise also offers Wise Business, a separate account for sole traders and companies with similar features plus batch payments, integrations with accounting software, and multi-user access.

Pricing and FX

Wise’s entire brand is built on pricing transparency, and it holds up:

• FX rate: The mid-market rate — the real exchange rate you see on Google or Reuters. No hidden margin added to the rate itself.
• Transfer fee: A small fixed fee plus a variable fee that depends on the corridor. For example, sending £1,000 to a EUR account typically costs around £3–£4 in total (roughly 0.35–0.4%). Sending to USD is similar. Some exotic corridors cost more — up to 1–2%.
• Account: Free to open and hold. No monthly fee.
• Card: The Wise card costs a one-off £7 to order. Spending in a currency you hold is free. Converting at the point of sale uses the mid-market rate with no additional markup.
• ATM withdrawals: Free up to £200 per month, then 1.75% + £0.50 per withdrawal above that.
• Wise Interest: No fee to participate; the underlying fund charges an annual management fee (around 0.5–0.7%) already reflected in the advertised yield.

Pros

• Genuine mid-market rate with no hidden markup — the cheapest mainstream transfer option for many corridors
• Transparent, itemised fee display before you confirm a transfer
• Holds 40+ currencies with local account details in major ones
• Consumer and business accounts both available
• Wise Interest gives a return on idle balances without moving to a separate savings app
• Strong regulatory standing as an FCA-authorised e-money institution

Cons

• Not a full UK bank account — no FSCS protection on deposits
• No investing, crypto, or lending products
• Wise Interest is an investment product (money market fund), not a savings guarantee — returns can vary
• Free ATM withdrawals are capped at a relatively low £200/month
• Card order fee, while small, is still a fee some competitors don’t charge

Who should use Wise?

Individuals who send money internationally on a regular basis — expats, freelancers paid in foreign currencies, people supporting family abroad, or anyone who wants a genuinely cheap, transparent transfer without gimmicks. Wise Business suits sole traders and small companies who want the same transparency for business payments. If your primary need is everyday UK spending and investing, Wise is narrower than Revolut — but for pure cross-border transfers, it’s hard to beat.

Revolut — full review

Revolut launched in the UK in 2015 and has grown into one of the largest neobanks in Europe. Critically, as of March 2026, Revolut holds a full UK banking licence, which means eligible deposits are now protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. This is a meaningful regulatory upgrade from its earlier e-money status and changes the safety calculus considerably.

What it offers

Revolut’s consumer app is broad:

• GBP current account with sort code and account number, protected by FSCS up to £85,000
• Multi-currency wallet holding 30+ currencies
• International transfers to 160+ countries
• Debit and disposable virtual cards (Visa/Mastercard)
• Crypto trading — buy and sell 200+ tokens
• Stock and commodity investing — fractional shares on major US and European exchanges
• Savings vaults with interest paid daily
• Budgeting and analytics — spending categories, subscriptions tracking, round-ups
• Travel insurance bundled with paid plans
• Revolut Business for companies with similar features

Pricing and plans

Revolut uses a tiered subscription model:

FX on Revolut works on the interbank rate on weekdays. On the free Standard plan, you get £1,000/month of fee-free currency exchange — above that, a 1% fee applies. Weekend exchanges carry a 1% markup on all plans because markets are closed. This is the key trade-off versus Wise: Revolut’s rate is as good as Wise’s mid-market rate during weekday hours and within your plan’s allowance, but the weekend markup and the cap on free exchange can make it more expensive for heavy users.

Pros

• Now a full UK bank with FSCS protection up to £85,000 — a significant trust and safety advantage
• Broadest product suite of the three: banking, transfers, crypto, stocks, savings
• Multiple tiers let you scale up as needed — the free plan is genuinely usable
• Disposable virtual cards are excellent for online shopping security
• Strong app experience with budgeting tools and instant notifications
• Generous referral programme and frequent promotions

Cons

• Weekend FX markup (1%) catches out travellers who exchange on Saturdays and Sundays
• Free plan caps fee-free exchange at £1,000/month — heavy users hit this quickly
• Crypto and investing features come with their own fees and spreads
• Customer support on lower-tier plans can be slow to respond
• The breadth of features can feel cluttered if you only want cheap transfers

Who should use Revolut?

UK consumers who want one app for everyday spending, travel, currency exchange, and dabbling in crypto or stocks — and who value the security of FSCS protection now that Revolut is a licensed bank. Revolut Business suits companies that want the same breadth. If your main need is purely cheap international transfers, Wise is usually cheaper at the margin — but Revolut’s all-in-one appeal is strong.

Comparison at a glance

Fee comparison: sending £1,000 abroad

To make the cost difference concrete, here’s roughly what you’d pay to send £1,000 from the UK to a Eurozone account as of July 2026:

This is illustrative — actual fees vary by corridor, amount, and payment method — but it shows the pattern: Wise is cheapest for consumer transfers with no caveats, Revolut is free within its limits but penalises weekend and over-cap exchanges, and Airwallex is competitive for business use. All three beat a traditional high-street bank comfortably.

When to use each — our verdict

Use Airwallex if you run a business. If you’re a UK limited company, sole trader, or startup that trades internationally, Airwallex is purpose-built for you. The local receiving accounts, interbank FX, accounting integrations, and payment acceptance tools make it a genuine alternative to a high-street business bank for cross-border operations. It is not a consumer product and shouldn’t be evaluated as one.

Use Wise if your priority is cheap, transparent international transfers. For consumers — and businesses — who want the mid-market rate with no games, Wise remains the gold standard. It doesn’t try to be a bank or an investing platform, and that focus is its strength. If you send money abroad regularly and want to know exactly what you’re paying, Wise is the pick.

Use Revolut if you want an all-in-one financial app with bank-level protection. Now that Revolut holds a full UK banking licence and FSCS protection applies, it’s a far more compelling primary account than it was as an e-money institution. If you want everyday spending, travel money, crypto, stocks, and savings in one app — and you’re happy to navigate the tiered pricing — Revolut offers the broadest suite of the three.

The pragmatic combination

There’s no rule against using more than one. A common and sensible setup for a UK freelancer who works with overseas clients: Airwallex (or Wise Business) for invoicing and receiving foreign-currency payments, Wise for personal international transfers where transparency matters most, and Revolut as the everyday spending account with FSCS protection and investing bolted on. Each tool is best at what it specialises in — trying to force one to do everything usually means overpaying somewhere.

Frequently asked questions

Is Airwallex available for personal use?

No. Airwallex is a business-only platform. You need to register as a sole trader, partnership, or limited company to open an account. There is no consumer or personal product. If you want a personal multi-currency account, Wise or Revolut are the appropriate options.

Are my deposits protected by the FSCS?

Only with Revolut, and only since it received its full UK banking licence in March 2026. Eligible deposits are protected up to £85,000 per person. Wise and Airwallex are e-money institutions, not banks — your funds are held in segregated accounts but are not FSCS-protected. This is a key difference if safety of large balances matters to you.

Which is cheapest for sending money abroad?

For consumer transfers, Wise is usually the cheapest on a like-for-like basis because it charges the mid-market rate with a small transparent fee and no caps or weekend markups. Revolut can be free within its monthly exchange allowance and on weekdays, but the 1% weekend markup and the cap on the free plan can make it more expensive for heavy or weekend users. Airwallex is competitive for business transfers but is not available to consumers.

Can I hold multiple currencies with all three?

Yes. Airwallex supports 60+ currencies for business accounts. Wise supports 40+ currencies with local account details in the major ones. Revolut supports 30+ currencies in its wallet. All three let you convert between currencies, though the rate and fees differ as described above.

Does Revolut charge for currency exchange on weekends?

Yes. Revolut applies a 1% markup on currency exchanges made on weekends because forex markets are closed and it needs to hedge the risk. This applies on all plans. If you’re travelling and need to exchange on a Saturday or Sunday, Wise (which applies no weekend markup) may work out cheaper.

Can I get a debit card from all three?

Yes, but with caveats. Airwallex issues business Visa cards to company employees. Wise issues a personal Visa card for a one-off £7 fee. Revolut issues cards for free on most plans, including disposable virtual cards for online shopping.

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Related guides

• Wise vs Revolut: Which Is Better for UK Consumers?
• Revolut vs Monzo: Neo-bank Showdown
• Best Business Bank Accounts UK 2026

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Last reviewed: 1 July 2026. Pricing and features verified against provider websites on this date.