In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question
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Airwallex Global Account

Airwallex Global Account
Account keeping fee
$0
ATM withdrawal fee
$0
Overseas ATM withdrawal fee
$0
Overseas transaction fee of transaction value
1%

Our verdict

Your business can get paid in multiple currencies, and spend directly in those currencies to save on currency conversion fees.

This business account could suit you if you get paid in different currencies. You can hold 11+ foreign currencies, including AUD, USD, EUR and GBP and make payments directly in these currencies to avoid currency conversion fees. You'll get account details for these different currencies too, so it's like having a local account.

You can also integrate your account to online global marketplaces including Amazon and eBay, to seamlessly get paid by your international customers in their default currency.

One thing to keep in mind with this account is that Airwallex is not a bank, so the money you keep in your account isn't guaranteed by the Australian Government under the Bank Deposit Scheme. Airwallex is, however, regulated by ASIC and has an Australian Financial Services License.

Pros

  • Get paid in a different currencies including AUD, USD GBP and EUR
  • Spend directly in foreign currencies without needing to do a currency conversion
  • No account keeping fees
  • Integrate with global online marketplaces like Amazon and eBay

Cons

  • This is not a bank account and the money isn't covered under the Bank Guarantee Scheme
  • No physical card is available (only a virtual Visa card)

In this guide

  • Our verdict
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Your reviews
  • Ask a question

This business multi currency account allows you to receive and hold payments in different currencies, and spend directly in those currencies to avoid currency conversion fees. It's might be suited to your business if you operate online and have global customers and suppliers.

Details

Key details

Product Name Airwallex Global Account
Monthly account fee $0
Card access Visa
Own network ATM fee $0
International transaction fee 1%
Monthly deposit required to waive account fee N/A
Contactless Payments Apple Pay, Google Pay

Eligibility

Minimum Age 18
Joint account availability No
Minimum opening deposit N/A

Key features

$0 monthly fees

There are no monthly account-keeping fees attached to this account.

Hold up to 11 different currencies at once

You can hold up to 11 currencies including AUD, GBP, USD, EUR, HKD, JPY, SGD, CAD, NZD, CHF in the multi currency account. You can receive payments directly in these currencies. If needed, you can convert them into a different currency instantly within the mobile app.

Local account details for different currencies

You'll receive different account details for the different currencies, so it'll be like having a local account without needing to be in the country.

Pay in foreign currency

Because you can receive and hold money in several currencies, you can also use this to make international payments in that currency without needing to pay for a currency conversion.


How to apply

You can open an Airwallex Global Account online in minutes. Here's what to expect before you begin your application.

Eligibility

  • Minimum age. You must be at least 18 years old to apply for this account.
  • Business requirements. You must be the owner or director of the business, and you will need to provide a valid ABN or ACN number.

Your reviews

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Ask a question

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Alison Finder

Editor

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