Airwallex compares very favourably to its competitors in terms of cost for businesses that need international payments and foreign exchange services.
Airwallex charges 0% on international transfers for the majority of currencies via local methods in 110+ countries. Only Starling, and to a limited extent Revolut, offer the same 0% deal. Challenger payment service Wise charges a fixed fee of £0.59 plus a variable fee depending on how much is being transferred, starting at 0.33% on international payments. Traditional business banks HSBC, Lloyds, Natwest and Barclays also all charge.
Airwallex is also a good deal for businesses involved in a lot of foreign exchange transactions. Airwallex changes the interbank rate – the interest rate banks use when trading foreign currency or lending money to each other – plus 0.5% for most major currencies, and 1% for all other currencies. Wise is among the most competitive alternatives on foreign exchange, charging 0.3% – 3.56%. HSBC charges up to 3.5%, Barclays between 2.6% and 2.82%, Lloyds up to 2.6% and Natwest up to 4%.
Airwallex business money transfer alternatives
| Corporate Currency Broker | Number of Currencies | Min Transfer | Forward Contracts | Same Day | Currency Options | GMG Rating | Get Quote |
|---|---|---|---|---|---|---|---|
 | 30+ | £3,000 | 24 months | ✔️ | ✔️ | Request Quote | |
 | 40 | £100 | 12 months | ✔️ | ❌ | Request Quote | |
 | 40 | £100 | 24 months | ✔️ | ❌ | Request Quote | |
 | 55+ | £250 | 12 months | ✔️ | ❌ | Request Quote |
Laura Miller has been a financial journalist for more than 10 years, and was on staff at the Telegraph before going freelance in 2019. Her experience includes hosting podcasts and panels, and she writes for the Times and Sunday Times, Daily Mail, Mail on Sunday and the Sun, as well as trade titles. She now lives by the sea in Aberystwyth, west Wales.
You can contact Laura at laura@goodmoneyguide.com
