Alright folks, pull up a chair. I’m finally getting around to spilling the beans on this whole Airwallex versus Revolut Business showdown. I spent a solid two months knee-deep in both platforms, trying to figure out which one actually makes sense for someone running a small-to-medium business that juggles money across different time zones. It wasn’t just a quick look; I really put them through the wringer.
The Setup: Why I Even Bothered
My main gig involves paying freelancers and suppliers in the US, the UK, and Europe, and my client base is equally global. Before this experiment, I was stuck using a mix of a major traditional bank—which honestly charged me an arm and a leg for every single wire transfer—and the consumer version of Revolut, which, bless its heart, wasn’t built for scaling business payments.
I needed simplicity, good exchange rates that weren’t totally brutal, and a way to hold multiple currencies without having a dozen different bank accounts. The choice boiled down to two popular names people keep tossing around: Airwallex and Revolut Business.
Diving into Airwallex: The Smooth Operator
I started with Airwallex. Setting up the account was surprisingly fast, way faster than dealing with my old bank. They asked for the usual verification stuff, and I was good to go within a few days. The first thing I loved was the ability to open local currency accounts instantly—USD, GBP, EUR, AUD, you name it. This wasn’t just a multi-currency wallet; these were accounts with actual local bank details, which meant receiving payments felt like a local transfer, dodging those pesky international transfer fees for my clients.
- The Practice: I tested sending money to a supplier in Germany. I converted my USD to EUR within the platform. The spread (the difference between what they gave me and the actual market rate) was tiny. Seriously competitive.
- The Feature Test: I used their virtual cards for online subscriptions billed in different currencies. It automatically debited the relevant currency account, cutting out conversion fees entirely on those small monthly charges. That alone saved me a noticeable chunk over thirty days.
- The Verdict on Airwallex: It felt geared toward serious international operations. The interface is clean, maybe a little sparse, but everything focuses on moving money efficiently and cheaply across borders. It felt robust and reliable.
Shifting to Revolut Business: The All-in-One Toolkit
I already knew Revolut consumer, so I expected the business version to be snappy, and it was. The onboarding was instant because I already had a profile with them, though the business verification still took a little time. Revolut Business immediately felt like it offered more features than Airwallex, almost overwhelming at first.
- The Practice: I set up payroll for my two UK contractors. Revolut handles batch payments beautifully. It was intuitive. But here’s the kicker—when I compared the exchange rate for a non-local transfer (e.g., USD to a small Asian currency), the spread was slightly wider than Airwallex, especially outside of market hours. It wasn’t terrible, but it was there.
- The Feature Test: They offer great budgeting and expense management tools. I gave my operations manager a physical card with a preset spending limit, and the receipt capture feature was excellent. It felt like a full accounting ecosystem, not just a banking platform.
- The Integration: I linked it to QuickBooks, and the synchronization worked like a charm. This integration aspect is where Revolut really shone, making bookkeeping less of a painful chore.
The Head-to-Head Tussle: My Final Verdict
After running parallel payments and operations through both for almost two months, the difference became crystal clear, depending on the need.
If your primary concern is massive volume of international payments, razor-thin FX margins, and local collection accounts worldwide, Airwallex wins. Their rates, especially for high-volume transactions, consistently shaved off those extra basis points that add up quickly. It’s the purist choice for borderless payments.
However, if you prioritize internal management, expense control, accounting integrations, and an all-around financial toolkit for a growing team, Revolut Business takes the cake. It simplifies the internal workings of the business—budgeting, corporate cards, and receipt capturing—even if its FX rates are marginally less competitive on odd transfers.
What did I end up doing? I actually kept both, but for different purposes. Airwallex became my primary platform for receiving large international client payments and paying high-value overseas suppliers because of those killer exchange rates. Revolut Business became the default platform for team spending, local payroll, and expense tracking due to its superior organizational features. It’s not about choosing a winner; it’s about using the right tool for the specific job it excels at.