Airwallex Money Transfer Review 2020

This review of Airwallex money transfer will explain the advantages and disadvantages of using the company’s money transfer services. We focus on client reviews, fees and exchange rates, quality of online platform, and level of service.

📝 AirWallex is not among one of the best money transfer companies for May 2020 by editorial ratings. While AirWallex is safe and recommended, we encourage you to check out our AirWallex recommended alternatives here.
🏛️ Established 2015
🌎 International Clients Business clients only – Europe, Singapore, Hong Kong, China & Australia
💱 Currencies Offered 50
💷 Minimum Transfer No minimum
📲 Trading via
  • Online platform – Web App / API
  • Demo Webapp accounts and API sandbox access can be provided if required
🏢 Offices In HK, London, Melbourne, Singapore, Shanghai, Shenzhen, Beijing and San Francisco.
⚖️ Regulation
  • ✓ United Kingdom – FCA – Electronic Money Institution (EMI) Licence
  • ✓ Europe – FCA – EMI Licence is passported throughout the EEA
  • ✓ Australia – ASIC – Australian Financial Services Licence
  • ✓ Canada – FINTRAC – Money Service Business
  • ✓ Hong Kong – Customs and Excise Department – Money Services Operators Licence
🤯 Fees
  • 0.5% conversion
  • £2.50 per payout to a bank account
Promotional Code None, but clients are eligible for no fees in the first month and free Shopify for 2 months
👨‍👩‍👧‍👦 Client Reviews 116 reviews on Facebook page
⭐ Client Rating 5 stars
🏆 Awards
👍 Advantages
  • Great rates, and even better rates for enterprise clients
  • Plenty of positive media attention
  • One month no-fees trial
  • Payments via API
  • Leader in business payment automation
  • Very strictly regulated
👎 Disadvantages
  • Relatively new company
  • Not enough client feedback on services
  • No private client offering


Company Information and Credibility

Company size: AirWallex is a relatively new company to enter the competitive space of international payments in 2015, which has managed to set a strong foothold in the market and expand significantly in  less than 4 years of existence.

The firm now employs more than 320 employees across 8 global offices, and is making headlines in tech publications due to its colossal  funding to date. The company has raised more than $200m with a current valuation surpassing the $1bn mark, an achievement that only private-client-facing rival Transferwise has managed to surpass.

The company has reported they are on track to transfer $3bn for its clients this year, an amount comparable to what major, well-positioned, competitors such as Currencies Direct are transacting annually through their corporate desk.

The company hasn’t only grown at  a staggering pace to date but is in fact continuing its expansion currently, with plans to enter the US market later on this year as well as working on entirely new products which are still yet to be released.  Regulated By:

  • ✓ United Kingdom – FCA – Electronic Money Institution (EMI) Licence
  • ✓ Europe – FCA – EMI Licence is passported throughout the EEA
  • ✓ Australia – ASIC – Australian Financial Services Licence
  • ✓ Canada – FINTRAC – Money Service Business
  • ✓ Hong Kong – Customs and Excise Department – Money Services Operators Licence


Finnies (Fintech Australia) 2019 – Jack Zhang (CEO) – Outstanding Fintech Leader
Finnies (Fintech Australia) 2019 – Airwallex – Excellence in establishing a global market presence
2018: H2 Top 50 Global Fintech (along with the likes of N26, Monzo, TW, revolut and Stripe)

Conclusion: Although we normally recommend staying away from newer companies which don’t have a long and proven track record yet, with Airwallex it’s a whole different story. This firm has been gaining the trust of major investors and increasing in valuation with each funding round, winning awards and getting the attention of all major publications, while accumulating a significant amount of business clients and transacting  billions each year.

It’s also different to the majority of other payment companies in this space which are normally only leveraging technology for their core business of international currency transfers, while Airwallex is first and foremost a technology-driven company. Providing global bank account functionality, local payment delivery and API connectivity.

We deem Airwallex to be extremely reputable, especially for its relatively short track record.

Client Feedback

Research:We have only managed to discover 15 reviews on Airwallex Facebook page, all of which were positive.

We have also inspected 23 employee reviews on Glassdoor to attest for the company’s culture, which we will touch on in the “conclusion” section of this Airwallex review client feedback section

Positive:Clients satisfied with the service just voted  5 stars on the Facebook page with no valuable comments we can analyse.
Negative:We haven’t seen any complaints nor negative reviews about Airwallex through  our research.

Conclusion:There is not much we can say about Airwallex at this stage based on client reviews, because there are simply not enough across the internet.

There are, however, quite a few employee reviews on Glassdoor (23 reviews, true for July 14, 2019). These reviews are generally positive stating how innovative and adaptive the company is, which is a very good sign. There are a few negative reviews in the mix as well but the majority of them come from employees stating they have been with Airwallex for less than 1 year.

Exchange Rate & Fees

Fees:£2.50 per payout to a bank accountExchange Rates: Airwallex exchange rate margins are fixed at 0.5% for SMEs, for all currencies, and could be further narrowed for Enterprise customers.

Conclusion:Airwallex offers not only bank-beating prices on international payments… they offer incredibly tight margins even in comparison with other leading money transfer companies. In a nutshell, they have similar or better rates than Transferwise’s which is quite remarkable, and unlike Transferwise they even offer better rates if you transact enough.

£2.50 per payout for a bank account makes a lot of sense considering Airwallex’ business model. It’s difficult to compare it with what other companies are charging because none of them offers the same technology (API directly to the payment system).

Global Reach & Service


  • Dedicated Dealer: Yes
  • Offices:HQ: Hong Kong. Offices: London, Melbourne, Singapore, Shanghai, Shenzhen, Beijing and San Francisco
  • Ways to approach: Phone, email, or automated request via API
  • Translations: Chinese
  • Accepts clients:Business clients only – Europe, Singapore, Hong Kong, China & Australia.
  • Currencies Handled: 50
  • Client reviews: 5 stars on Facebook

Conclusion:Airwallex is a truly international company with offices in the major business hubs of the world. The company also offers virtual accounts and collection accounts in multiple regions/currencies and enhances each of their client’s ability to receive and send money abroad!

In addition, it is the only company covered on this website out of 40+ provider reviews offering 24/7 trading!

Additional Functionalities

    • Accounts:  Free international virtual accounts.
    • Collection:  Local collection available in 11 CCYS (depending on region)
    • FX:  Spot, Forward (365days) & Carded FX rates (>24 hours)
    • Payment: Super fast local payment available in 11 CCYs with most being made same day and SWIFT available for all other CCYs
    • 24/7 trading
    • Ability to hold funds in multiple currencies
    • Free reporting for each of the products

Conclusion:AirWallex offers business clients  more functionality than any other company in the market right now. Collection accounts, local payments, ability to hold funds… Airwallex is in fact an E-Wallet tailor-made for international businesses.

AirWallex Review Summary
87 of 1001 review
  • Credibility Score – 80%
  • Client Feedback – 80%
  • Fees, Exchange Rates – 95%
  • Global Reach, Availability, Service – 89%
  • Added Values – 92%

Bottom Line

This Airwallex review summary can only say one thing – Airwallex is the best e-wallet and international payment solution for businesses there is. . It has stronger technology and a more diverse offering than literally any other payment company currently on the market, and it offers rates that start from “great” at 0.5% margin and could possibly be “unbeatable” for larger enterprise customers. With 8 offices globally, free virtual accounts and collections accounts, the ability to hold funds in multiple currencies and the simplicity of their API, Airwallex is truly an incredible fit for internationally trading businesses who want to automate their overseas payments and pay less.

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