Written by Bertrand Théaud, Statrys Founder
As founder with 20+ years in Asia as a lawyer, investor, and entrepreneur, I look at what competitors charge, what they deliver, and where they cut corners so you can make decisions with full information, not their sales pitch.
Last reviewed April 2026.
Key Takeaways
Account opening is fast: the application takes under 20 minutes and is typically approved within 3 business days.
Airwallex charges a 0.3% fee on transfers received from non-owner accounts. This does not appear on the public pricing page, and it adds up quickly if you collect payments from clients.
If you regularly receive client payments, Statrys works out cheaper. Domestic transfers are free, international transfers cost HKD 60, and FX fees start from 0.1% above the mid-market rate. Every account also comes with a dedicated account manager
If you're comparing Airwallex to your current business account, the pricing page may look competitive. Free plan, no local transfer fees, FX from 0.2%. However, the number that actually determines whether Airwallex is cheaper or more expensive for your business isn't on that page.
This review covers what Airwallex actually costs to use in Hong Kong, how it performed during testing, and how it compares to an alternative. Statrys operates a competing multi-currency account in Hong Kong, so I work at a company with a stake in this comparison. I've tried to let the numbers speak rather than the framing.
Disclosure: Statrys operates in the Hong Kong financial services market. We have made every effort to present an accurate, evidence-based review. All information is sourced directly from Airwallex’s official website and is accurate as of April 2026. User review data is drawn from Trustpilot and G2. If you have feedback on this review, contact us at marketing@statrys.com.
What Is Airwallex?
Airwallex is a global payments company founded in Melbourne in 2015, now operating in over 150 countries. It holds a Money Service Operator licence from the Hong Kong Monetary Authority (HKMA), which means it is a regulated non-bank financial institution, not a bank. Client funds are not covered by the Hong Kong Deposit Protection Board.
Its core product for business users is a multi-currency wallet with local-currency receiving accounts, outbound payment rails, and Visa corporate debit cards. It also offers a payment gateway, payment links, and developer APIs, though these are outside the scope of this review.
✅Who Airwallex Might Be Suited for
- Businesses with regular cross-border payments: The FX rate from 0.2% above interbank is competitive, and being able to hold multiple currencies in one account cuts conversion costs for companies paying suppliers across Asia or Europe.
- Companies scaling internationally: The Grow (HKD 499/month) and Accelerate plans (HKD 2,499/month) add multi-user access, approval workflows, and expense management that growing teams need.
- Startups with distributed teams: Virtual and physical Visa cards per employee, linked to the account balance, work well for teams managing expenses across time zones.
🚫Who Airwallex Might Not Be Suited for
- Businesses collecting frequent inbound payments from clients: The 0.3% inbound receiving fee applies to every transfer from a non-owner account. If your business model involves receiving regular payments from clients, this fee can cost more than the monthly plan saves you.
- Small or local operations: If you primarily make local HKD transfers and rarely deal in foreign currency, the Explore plan's real value is limited.
- Teams with many staff cardholders: Beyond the 5 included cards, you pay HKD 40 per cardholder per month. A team of 20 employees with cards adds HKD 600/month before any other fees.
Airwallex Fees in Hong Kong
Airwallex introduced a three-tier pricing structure in November 2025: Explore (free), Grow (HKD 499/month), and Accelerate (from HKD 2,499/month). The table below shows the fees that apply across plans.
| Fee type | Explore (free) | Grow | Accelerate |
|---|---|---|---|
| Monthly fee | Free | HKD 499/month | From HKD 2,499/month |
| Local transfers | Free | Free | Free |
| International transfers (SWIFT) | HKD 120 - 200 (SHA and OUR) | HKD 120 - 200 (SHA and OUR) | HKD 120 - 200 (SHA and OUR) |
| FX conversion | From 0.2% above interbank | From 0.2% above interbank | From 0.2% above interbank |
| Receive from non-owner accounts | 0.3% fee | 0.3% fee | 0.3% fee |
| Company cards | Free | Free | Free |
| Employee cards | 5 free, then HKD 40/user/month | 5 free, then HKD 40/user/month | 5 free, then HKD 40/user/month |
🔎What are SHA and OUR?
Fees are based on publicly available pricing and in-account verification as of April 2026. Check Airwallex's Plan and Pricing page for current rates, as fees are subject to change.
The Inbound Receiving Fee: What It Means in Practice
Airwallex charges 0.3% on transfers received from accounts that are not owned by the same account holder. This is not listed on the public pricing page. We found it inside the account dashboard during our October 2025 testing.
📌Note: This fee does not apply if the sender shares ownership of the Airwallex account. For example, if you transfer between your Airwallex account and your own bank account. It applies to transfers from clients, suppliers, or any third-party bank account.
For a trading company receiving regular payments, this matters:
| Inbound payment | 0.3% fee deducted | Total cost (12 payments) |
|---|---|---|
| HKD 50,000 | HKD 150 | HKD 1,800 |
| HKD 200,000 | HKD 600 | HKD 7,200 |
| HKD 500,000 | HKD 1,500 | HKD 18,000 |
Airwallex Features
Airwallex offers 3 core features for Hong Kong businesses: Global Accounts, Visa corporate debit cards, and integrations with accounting tools. Here’s how each works in practice.
Global Accounts and Multi-Currency Wallet
The core product called “Global Account” is a multi-currency wallet that lets you hold, receive, and send money in different currencies from a single account dashboard. You can open up to 10 Global Accounts, each of which functions like a local bank account in a specific country, giving you a local account number to receive payments in that currency without international transfer fees.
In our testing, Global Accounts for USD, EUR, and GBP were created within a minute each. The receiving details look like a local bank account to the sender, which reduces transfer friction for international clients.
Outbound payments use either local payment rails (such as the ACH network for the US, or the SEPA system for Europe) or SWIFT for transfers where local networks are not available. Batch payments support up to 1,000 recipients per run.
Below is what Airwallex’s Global Accounts dashboard looks like.
Visa Corporate Debit Cards
Airwallex issues Visa debit cards, both physical and virtual, linked directly to your account balance. Company cards (virtual cards) cover operational expenses; employee cards (physical or virtual) are for individual spend, such as travel and subscriptions.
Cards operate in the currency of your account balance. If you pay in a currency you don't hold, Airwallex converts at their FX rate automatically.
The first 5 employee cards are included across all plans. Each additional cardholder costs HKD 40/month.
Integrations
Airwallex connects to Xero, QuickBooks, HubSpot, Zapier, and Amazon. The accounting integrations sync transactions automatically, which reduces reconciliation time for businesses already using these tools. The ecommerce integrations allow direct payment collection through your website.
Airwallex Account Opening
Opening a business account with Airwallex is a straightforward process. First, let's look at who can open an Airwallex account.
Who Can Apply
Airwallex accepts applications from companies incorporated in Hong Kong, Singapore, the United Kingdom, Australia, and the United States, among other jurisdictions. Both locally incorporated and foreign-owned companies can apply, provided they are officially registered and actively operating. Bearer-share entities (companies whose ownership is determined by whoever holds the physical share certificate) are not accepted.
What You Need
From our experience, the required documents are not overly burdensome. In fact, even lighter than what some other providers require.
For a Hong Kong private limited company with a single director and shareholder, the required documents are:
- Certificate of Incorporation and Business Registration Certificate
- Personal details for all directors, shareholders, and the Ultimate Beneficial Owner (UBO), any individual or entity holding more than 25% of the company
- Government-issued ID for each director and shareholder
- A photo ID and selfie for identity verification
Proof of business activity, such as invoices or a website
Depending on your company structure or jurisdiction, Airwallex may also request Articles of Association, an ownership structure chart, proof of business address, or a corporate resolution.
How Long Does It Take
In our test of a standard Hong Kong private limited company, the application form took about 20 minutes to complete. Approval came the next day. Airwallex advertises a 3-day approval window, which aligns with our experience. Do note that some company structures or higher-risk jurisdictions may take longer.
Airwallex User Reviews
The table below summarises feedback from Trustpilot and G2, based on review data as of April 2026.
| Platform | Rating | What users praise | What users flag |
|---|---|---|---|
| Trustpilot | 3.4/5 (2,300+ reviews) | Easy setup, good international coverage, fast transfers | Payments are blocked without warning, support is slow on escalations, and pricing is not transparent |
| G2 | 4.4/5 (50 reviews) | Ease of use, easy integrations, efficient transactions | Account approval delays, mixed support quality |
On Trustpilot, Airwallex holds a 3.4/5 score across 2,300+ reviews. The recurring complaints are payments held without a clear explanation, support that is adequate for routine queries but slow when an escalation is needed, and pricing changes without adequate notice to customers. The 3.4 score is lower than many fintech competitors in the same space.
G2 reviews, drawn from a smaller sample of 50, show a more positive 4.4/5. Business users there tend to rate the platform's ease of use and integrations positively. The support and approval-delay complaints appear here too, though they are less dominant.
Airwallex Hong Kong Alternative: Statrys
If Airwallex's inbound receiving fee, pricing tiers, or support model don't fit your business, Statrys is worth considering.
Statrys is a Money Service Operator in Hong Kong, offering multi-currency business accounts for businesses registered in Hong Kong, Singapore and the British Virgin Islands (BVI).
The table below compares the two accounts on the fees and features that matter most.
| Feature | Airwallex (Explore) | Statrys |
|---|---|---|
| Monthly fee | Free | Free |
| Inbound receiving fee | 0.3% on non-owner transfers | Free for domestic transfers HKD 60 for international transfers |
| FX rate | From 0.2% above interbank | Starting from 0.1% above mid-market rate |
| Supported currencies | 20+ currencies | 11 major currencies |
| Dedicated account manager | ❌ | ✅ |
| Trustpilot rating | 3.6/5 (2,100+ reviews) | 4.6/5 (380+ reviews) |
Since 2020, Statrtys has processed over $7 billion in transactions for more than 10,000 businesses, with 96% of clients opening their accounts within just 3 business days.
💡Still weighing? See how Statrys compares with Airwallex in our detailed Statrys vs Airwallex guide.
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FAQs
Is Airwallex a bank in Hong Kong?
No. Airwallex is not a bank. It holds a stored value facility (SVF) licence from the Hong Kong Monetary Authority, which allows it to provide payment and multi-currency wallet services in Hong Kong. As a non-bank institution, Airwallex accounts are not covered by the Hong Kong Deposit Protection Board scheme, which protects deposits at licensed banks up to HKD 800,000.
