Airwallex VS Currenxie: Hong Kong Business Account Comparison [2024]

At a Glance

Airwallex Overview

Airwallex, founded in Australia in 2015, is a fintech company that provides financial services to optimise global financial operations. These services include multi-currency virtual business accounts, payment cards, and business APIs. 

Presently, Airwallex has offices in 19 locations globally. They have been acknowledged as one of CNBC-Statista's World’s Top Fintech Companies for 2023 and have catered to over 100,000 companies.

• Eligible countries: 52 countries and regions, including Hong Kong, Singapore, the UK, the US, Australia, New Zealand, and others.
• Eligible company type: Most types of entities are eligible.
• Licences: Airwallex has various licenses across the countries where it conducts business, including a Money Service Operator license in Hong Kong, a Major Payment Institution license in Singapore, an Electronic Money Institution license in the UK, and more.
• Partner banks: Multiple, including JP Morgan, Standard Chartered, DBS, and others.

Currenxie Overview

Currenxie was established in 2014 as a fintech company based in Hong Kong. The company specialises in offering a virtual business account, currency exchanges, and business cards.

To date, the company has successfully conducted business in over 40 countries, with a total worldwide transfer of over USD 8 billion.

• Eligible countries: The majority of countries are eligible to apply.
• Eligible company type: Most registered businesses can apply, provided they are not involved in activities listed on the Currenxie prohibited business natures. 
• Licences: Money Service Operator in Hong Kong, Electronic Money Institution in the UK, Foreign Money Service Business in Canada, Financial Service Provider in South Africa, and registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC) in Australia.
• Partner banks: Currenxie states that they have a network of partner banks but do not disclose the names. 

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Business Account Features 

Airwallex VS Currenxie Features Rating

Airwallex’s Feature Rating Is 4.5/5

Airwallex provides extensive support for local and international payments across over 40 countries. Its main advantage over Currenxie is its broader range of supported currencies for both sending and receiving payments, along with more comprehensive integration with accounting software. 

However, it has a limited list of eligible countries and higher fees for international payments.

Currenxie’s Feature Rating Is 4/5

Currenxie offers unique features, including favourable rates for USD and HKD pairs and integration with ecommerce platforms catering to specific market segments. 

Currenxie also supports over 40 countries and a decent range of currencies. However, its currency variety falls short compared to Airwallex.

Business Account Fees

Airwallex VS Currenxie Account Fee Rating

Airwallex’s Account Fee Rating is 4/5

Airwallex offers competitive fees compared to traditional banks in general. Its standout advantages include free sending of local payments and lower costs for receiving local payments compared to Currenxie.

However, the lack of fee information on receiving international payments and variable fees for sending international payments may be a drawback for businesses seeking predictability.

Currenxie’s Account Fee Rating is 4/5

Currenxie fees are also competitive compared to traditional banks. The fixed fees provide clarity and simplicity, which can be valuable for businesses operating on thin margins or prioritising straightforward cost management over potentially lower but variable costs in different regions.

However, the fee for local payments, whether sending or receiving, is higher than Airwallex. The fee could also be considered substantial for smaller amounts.

🔍 Tip: Explore the key things to know about opening an Airwallex account.

Card Features and Fees

Airwallex VS Currenxie Card Rating 

Airwallex’s Card Rating is 4/5

Airwallex provides a versatile card solution with two types of cards supporting a wide range of currencies and regions. While some regions have subscription fees, they are relatively minimal. However, compared to Currenxie's free card offering, this can be seen as a disadvantage.

The lack of ATM withdrawal capability can be another limitation. However, the impact of this limitation varies depending on the business model. For instance, businesses operating solely digitally may not be significantly affected.

Currenxie’s Card Rating is 3/5

The Currenxie card's appeal lies in its free issuance, lack of subscription fees, attractive cashback, and partnership discounts. Additionally, the option for ATM withdrawals sets it apart from Airwallex.

However, the restriction to just one card per account and geographic and currency limitations compared to Airwallex make it significantly less versatile for businesses with broader international needs.

Customer Support

*Currenxie states on the website that the Global Account holder can benefit from personal client support. However, we were unable to locate detailed information regarding the specific services offered.

Airwallex VS Currenxie Customer Support Rating 

Airwallex’s Customer Support Rating is 3.5/5

While Airwallex offers structured support through a help centre, contact form, and phone calls with specified working hours, its support channels may appear limited compared to the broader market, where live chat and email options are typically provided. 

However, its website seems to provide more comprehensive information than Currenxie, hence the slightly higher rating.

Currenxie’s Customer Support Rating is 3/5

Currenxie's support channels appear to be less extensive than Airwallex. Similar to Airwallex, there is an absence of broader communication methods like live chat or email.

While Currenxie's personal client support for Global Account holders is promising, the lack of detailed public information about their support channels prevents us from making a conclusive assessment.

Airwallex and Currenxie Alternatives: Statrys

Is your business registered in or planning to expand into Hong Kong, Singapore, or the BVI? Statrys can be another international payment solution.

Based in Hong Kong, Statrys is a financial service provider offering multi-currency business accounts, local and international payment solutions, payment cards, foreign exchange services, and dedicated customer support. 

Statrys' Key Services

🔍 Tip: For a more in-depth comparison, check out our comparison of Airwallex vs Statrys and Currenxie vs Statrys