Revolut vs Airwallex: 2026 Comparison

Singapore is a fantastic place to build a business, thanks to the presence of several well-known corporate banks, a pro-business environment, and robust legal framework. But once you start trading across borders, you’ll likely hit a wall of hidden fees and administrative headaches with traditional business banks.

Both Revolut and Airwallex have established themselves as great alternatives for Singapore companies looking to go global. While they might look similar at first glance, there are certain strengths and weaknesses it’d be good to be aware of.

In this guide, we’ll dive into the details of their fees, features, and pricing structure to help you decide which partner fits your growth strategy.

Revolut vs Airwallex: Business accounts at a glance

Both Revolut and Airwallex are licensed Major Payment Institutions under the Monetary Authority of Singapore (MAS)¹^,². While both platforms provide powerful multicurrency business account alternatives to traditional business banking, they excel in different areas.

Revolut Business is designed as a sleek, all-in-one financial super-app that prioritises ease of use for agile teams³ and offers sophisticated treasury tools to earn yield on idle cash⁴.

Airwallex functions more as a comprehensive global financial infrastructure, specifically built for e-commerce and digital businesses that require deep integration for international payment collection and high-volume card spending⁵.

Multi-currency accounts and receiving international payments

If your business is trading internationally, you need to "act local."

This means having local bank details so your customers in London or New York can pay you via domestic transfers rather than expensive SWIFT wires.

Airwallex provides local account details in over 23 currencies. This allows you to receive payments in USD, EUR, GBP, AUD, and more just like a local business would, avoiding forced conversion fees and unnecessary intermediary bank charges.

Revolut Business, meanwhile, does not explicitly say on their website what local account details they have, but they do offer the ability to receive unlimited incoming transfers in GBP, EUR, USD, and CHF. If you are opening an account for the primary purpose of receiving foreign currency payments from clients like a local, it’s best to check with Revolut directly for more information on their local account details.

How do Airwallex and Revolut transfer payments internationally?

Speed is the name of the game when paying suppliers, so let’s see how the two providers fare.

• Airwallex uses its own proprietary network to support transfers to 150+ countries. By leveraging local payment rails (like FAST in Singapore or ACH in the US), they ensure that 90% of transactions arrive the same day¹⁴. For businesses managing high-volume payouts, Airwallex provides a robust Batch Transfers feature designed to minimise manual effort and human error¹⁶.
• Revolut Business facilitates international transfers in over 25 currencies to more than 150 countries¹⁵, often utilizing the interbank exchange rate and offering no-fee monthly allowances depending on the chosen plan. The platform streamlines global operations through features like bulk salary payments, real-time transfer tracking, and automated approval flows to ensure secure and efficient cross-border transactions.

Understanding how Airwallex and Revolut Business handle foreign exchange rates

Hidden exchange rate markups can silently eat into your margins. Let’s look at how these two platforms handle the exchange.

Airwallex charges a transparent markup, typically 0.4% above the interbank rate for major currencies like USD, EUR, and GBP. It’s a "pay-as-you-go" model that works well for high-volume traders who want predictability.

Revolut Business uses a tiered allowance system. On the Basic (SGD0) plan, you have a limited fee-free allowance (SGD1,500). Once you exceed it, a 0.6% fee kicks in. To unlock higher levels of fee-free allowance, you need to subscribe to other tiered plans which range from SGD15/month to SGD417/month.

💡Watch out for the weekend. Revolut applies a 1% markup on all currency exchanges made outside market hours (Friday 5pm to Sunday 6pm EST). If you’re a business owner who does admin on the weekends, this could become a significant hidden cost⁶.

Managing team spending with corporate debit cards

Corporate cards help eliminate the need for personal card reimbursements, which is a major win for your finance team's sanity.

Airwallex cards are built for digital-first businesses. They offer cashback on all qualifying business spend¹². This is essentially "free money" back into your business for things like SaaS subscriptions or Facebook ads. However, there's a catch: Airwallex cards currently support ATM withdrawals only for Beta customers²⁷.

Revolut Business cards provide physical and virtual options with excellent built-in spend controls. You can freeze cards instantly and set granular limits for every team member. Unlike Airwallex, you can use Revolut cards at ATMs (though a 2% fee usually applies, and the cards can only be used outside Singapore⁶).

Airwallex vs Revolut Business vs Wise Business Cards

Here’s a breakdown of the three providers’ corporate card features and fees.

Unique features offered by Airwallex and Revolut Business

Rather than just moving money, both platforms offer extra tools to help you manage your business more effectively. Let's look at what else they bring to the table.

Airwallex

Airwallex has several payment-related features that make it particularly attractive to eCommerce players, subscription businesses, and online marketplaces. These include:

• Payment Gateway: Airwallex allows you to accept online payments (Visa, Mastercard, PayNow) directly on your website²⁰.
• E-commerce Integration: Built-in plugins for Shopify, WooCommerce, and Magento mean you can settle sales directly into your multi-currency wallet²¹.

Revolut Business

Revolut appears to lean towards frictionless team scalability and versatile physical payment solutions.

• Team Spend Scalability: You can add unlimited team members to their platform so you can have more control over team spend. This means you won’t have to worry about your Revolut subscription fees ballooning if you want your entire marketing or creative team to have access to the dashboard for expenses²².
• In-Person Payment Acceptance: Revolut Business has a mature ecosystem for physical payments, including Tap to Pay on iPhone²³. This makes it a very attractive option if your Singapore company runs pop-up stores or studios (basically any SME or micro business that needs to accept contactless payments in-store without having to fork out more money for additional hardware.

Airwallex vs Revolut Business: Pricing and fee comparison

Pricing models are where these two diverge most sharply. Let’s get right into their numbers.

Revolut uses a tiered subscription model (SGD0 to SGD417+ monthly) with fee-free monthly “allowances”. This means you can enjoy a set number of no-fee local and international transfers as long as you are within your plan’s monthly allowance. Once you exceed the allowance limit, you’ll have to pay Revolut’s 0.6% fee, as well as the 1% fee for exchanges that occur outside of market hours.

Airwallex also has tiered plans (SGD0 to SGD399+ monthly), offering free local transfers to 120+ countries. More significantly, they apply a consistent 0.4%–0.6% foreign exchange markup.

Wise Business: Alternative solution for global SMEs

While Revolut and Airwallex offer robust business account solutions with plenty of modern features for businesses expanding internationally, their pricing plans may change based on your transaction volume. For businesses seeking intuitive, single-tier fee transparency, Wise Business remains a great option.

Wise Business serves as an alternative to traditional business account as you can hold, send, receive and exchange 40+ currencies all in one place. You’ll always get the mid-market rate with low, transparent fees. Even better, you can connect Wise Business cards to your account to control team spending in real time and reduce admin.

Here's what you get with a Wise Business account:

• Hold and manage 40+ currencies for all your international transactions.
• Get account details to receive in 8+ currencies for a one-time fee of 99 SGD
• Pay foreign currency bills and ad-hoc business travel expenses using the Wise Business card without hefty foreign transaction fees.
• Get your first Wise Business card for free when you open a Wise Business account.
• Always get the mid-market rate with transparent conversion fees.
• Seamless integrations with popular accounting software.
• Earn a variable return** on SGD, GBP, EUR, and USD through Wise Interest

➡️Get started with Wise Business today

** Growth is not guaranteed. Capital at risk.

FAQs

1. Can I accept payments from my customers directly (E-commerce) using Airwallex and Revolut Business?
Yes, both Airwallex and Revolut Business offer payment gateway capabilities and payment plugins for e-commerce²⁰^,²¹^,²⁴.

2. Can individuals use Airwallex, or is it only for businesses?
Airwallex is strictly for registered business entities. If you are an individual looking for personal use, Revolut or Wise could be more suitable options²⁵.

3. Can I use Revolut and Airwallex business cards at an ATM?
You can use Revolut cards at ATMs globally (2% fee). Airwallex Singapore cards currently limit ATM withdrawals to Beta customers¹³^,²⁷.

Sources:

1. AIRWALLEX (SINGAPORE): MAS
2. REVOLUT TECHNOLOGIES SINGAPORE PTE. LTD.: MAS
3. All in one Finance Platform: Revolut Business
4. Flexible cash funds: Revolut Business
5. Airwallex, Trusted Global Payments and Financial Platform: Airwallex SG
6. Business account pricing: Revolut Business Singapore
7. Singapore Business Account: Revolut Business
8. Corporate Cards: Revolut Business
9. Business Fees: Revolut Singapore
10. Plans & Pricing: Airwallex Singapore
11. What is a Multicurrency Account: Airwallex Singapore
12. Business Cashback Debit Card: Airwallex Singapore
13. Airwallex Corporate Card: Smart Choice for Singapore SMEs?: Wise Singapore
14. How wire transfers work: Airwallex Singapore
15. International transfers: Revolut Singapore
16. What are batch payments: Airwallex
17. Wise Business Pricing: Wise Singapore
18. Fees for Wise Business Card: Wise Singapore
19. International Business Debit Card: Airwallex Singapore
20. Online Payment Gateway Solutions: Airwallex Singapore
21. Payment Plugins: Airwallex Singapore
22. Revolut Business vs Airwallex: Revolut
23. Tap to Pay on iPhone: Revolut Singapore
24. Payment Gateway: Revolut Business
25. Eligibility to open account: Airwallex
26. Wise Card Singapore Review: Wise Singapore
27. How do I use advanced card controls: Airwallex Help Centre