Payoneer vs Airwallex Comparison for the UK

Paola Faben Oliveira

As a business owner in the UK who has international customers, you need a good payment platform for transactions. You can save some time and money by choosing the right tool. To help you decide, we’re comparing Airwallex and Payoneer in this article by digging into their pricing and features.

You’ll also discover how Wise Business is a great alternative for easy international transactions.

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Airwallex vs Payoneer - Comparison overview

Airwallex and Payoneer enable users to hold multiple currencies and process payments worldwide. Both solutions differ in pricing models, currency options and available features. Use this table to compare both platforms before you decide.

ServiceAirwallexPayoneer
Trustpilot rating3.4/5 (+1,600 reviews)¹3.8/5 (+58,000 reviews)²
Setup feeFreeFree
Multi-currency accountYes. Collects and holds 20+ currencies via Global AccountsYes. Handles 70 currencies
Supported countriesTransfers to 150+ countries, local currency accounts in 60+190+ countries
Domestic transfer feesFree via local networksFree to Payoneer accounts; 1% to non-Payoneer accounts
International transfer feesFree via local rails; £10-20 with SWIFT.Free to Payoneer accounts; 2% to non-Payoneer accounts.
Withdrawal feesFree to same-currency accounts.£1.50 flat for same-currency; 2% for different currencies
Payment gateway optionsYes. Accepts 180+ currencies, 160+ local methods (Visa, MasterCard, Apple Pay, WeChat)Yes. Focused on marketplaces (Amazon, Fiverr, Upwork)
Batch paymentsYesYes
Accounting software integrationYesYes
Dedicated account managerYesNo
API integrationFull APIs for payouts, FX, and embedded finance.Limited APIs, mainly for marketplace payouts.

Airwallex review

With Airwallex, you can hold 20+ currencies, open local accounts in 60+ countries, accept payments from 180+ markets, and send funds to 150+ countries. Virtual multi-currency cards help manage employee expenses. Unlike Payoneer, Airwallex skips transaction and withdrawal fees and keeps FX rates low, at 0.5%–1% above mid-market. It also offers API integration for automated payments and connects with platforms like Shopify and Xero.

Airwallex was founded in 2015 in Melbourne, Australia, to cut high foreign exchange (FX) costs. It now runs from Singapore with 19 offices, including London, and the Financial Conduct Authority (FCA) regulates its UK operations. Trustpilot rates it 3.4/5 from more than 1,600 reviews as of April 2025. Users praise its cheap fees and simple platform, but some complain about slow support and account freezes.

Airwallex features

Here's what you get when you use Airwallex.

  • Speed: 95% arrive same-day via local rails.³
  • Security: FCA regulation safeguards your funds, and multi-user access with custom permissions adds control.
  • Multi-currency support: Hold 20+ currencies and open local accounts in 60+ countries.
  • Payment acceptance: Receive from 180+ markets via gateways (Visa, Apple Pay) or custom payment links for one-time/recurring charges.
  • Expense management: Issue virtual/physical Visa cards and track expenses with receipt uploads in-app.
  • Bulk payments: Make multiple payments across countries in one go.
  • Integrations: Use API for automated payouts.
  • Low-cost FX: Convert currencies at 0.5%–1% above mid-market, with no transaction or withdrawal fees.

Airwallex customer service

You can reach their support team via email at support@airwallex.com or through the in-app ticket system, available 24/7. On Trustpilot, customer review feedback varies. Marcel K praises, “Support is quick and clear, solving my issue same-day,” while another user complains that they have gone 216 days with no fund access while support gives no answers.

The review shows mixed feelings for customer service, with some reporting fast responses while others face delays or unhelpful replies, so test their support for your needs.

Airwallex pricing

Airwallex keeps costs straightforward for UK micro businesses. You pick from three plans—Explore, Grow, or Accelerate—charged per business entity, not per account. The £19/month Explore plan waives its fee if you deposit or hold £10,000 (or equivalent) monthly. The table below breaks it down.

PlanProvider fee
Explore£0 or £19/month
Grow£49/month
Accelerate£999/month
CustomContact sales

There are no fees for opening global accounts or UK domestic transfers via Airwallex’s network. Card payments carry a 3.15% + £0.20 fee for international cards, while local payment methods add £0.20 plus a method-specific fee.

Cash withdrawals aren’t supported, as ATM access is unavailable. For UK Visa and Mastercard, they charge 1.30% + £0.20 per transaction and 2.40% + £0.20 per transaction for EEA Visa and Mastercard.

Payoneer review

Payoneer serves freelancers, small businesses, and online marketplace sellers, especially those on Amazon, Fiverr, or Upwork. It lets you receive, hold, and send funds in 70+ currencies across 190+ countries, with payouts via bank transfers or a branded prepaid Mastercard. It also supports 17 languages.⁴

Founded in 2005 in New York by Yuval Tal, Payoneer now supports many users. Trustpilot scores it 3.8/5 from 57,935 reviews. Some users say they fixed their issue fast with top-notch help. While some others complain they froze their funds with no warning.

Note that reviews are ever-changing and vary across platforms. You can try Payoneer if you’re a freelancer, but check their customer support response times.

Payoneer features

Below are some of the features of Payoneer:

  • Secure accounts: Hold 70+ currencies with fraud protection and chargeback tools.
  • Batch payouts: Pay multiple vendors at once.
  • Invoicing: Create invoices, track payments, or request funds via email.
  • Payout options: Use bank transfers or prepaid Mastercard.
  • Marketplace integration: Connect with Amazon, Fiverr, Upwork, or QuickBooks.
  • Real-time FX: Convert currencies at competitive rates on the spot.
  • VAT management: Simplify VAT for international sales
  • Mobile app: Manage funds and track transactions anywhere.
  • 24/7 support: Get help via live chat, email, or phone.

Payoneer customer service

You can get support at any time, as it’s all online with no physical branches. Jump into 24/7 live chat or submit a ticket through their ‘Contact Us’ form. You can also send an email to the support team, or browse the help centre for quick guides on payments or account issues.

Trustpilot reviews on Payoneer customer service show varied experiences. Some praise fast replies, but others hit snags with delays. Give their support a go to see if it works for you.

Payoneer fees

Payoneer keeps it simple for UK businesses with no subscription plans—just pay for what you use. There is no setup or monthly fees, but an annual 29.95 USD fee kicks in if your account receives less than USD 2,000 (or equivalent) in 12 months.

PlanProvider fee
Account openingFree; no subscription or monthly fees
Annual account fee29.95USD/year if no transactions in 12 month (waived if you receive $2,000 USD within that time)
Custom pricingNegotiated for high-volume businesses (contact Payoneer)

Expect 0.5%–3% above mid-market rates for currency conversion, free Payoneer-to-Payoneer transfers, and 3% for credit card payments. Bank withdrawals cost £1.50 for GBP-to-GBP or up to 2% for other currencies, while ATM withdrawals are £1.95. The Payoneer Mastercard has a £24 annual fee for the first card, with no fees for same-currency purchases but up to 3.5% for conversions and 1.8% for cross-border transactions.

Airwallex vs Payoneer fees - Head to head comparison

Check out the comparison of Airwallex and Payoneer fees in the table below.

Plans/fee typeAirwallex feePayoneer fee
Currency conversion0.5%–1% above mid-market rate0.5% (Payoneer-to-Payoneer); up to 3% (card/non-Payoneer accounts).
Bank withdrawalsFree (local currency)£1.50 (GBP-to-GBP); up to 2% (other currencies)
ATM withdrawalsNot available£1.95 per withdrawal
Batch paymentsFree (up to 1,000 transactions)Not free
Card FX fees0% (multi-currency virtual/physical Visa cards)Up to 3.5% (Mastercard conversions); 1.8% (cross-border)
Chargeback fees£15 - £25Not stated

Fees are a big deal when picking a payment platform. Airwallex saves UK businesses on receiving payments, charging 2.8% + £0.24 for UK cards and 4.3% + £0.24 for international ones, with currency conversion at 0.5%–1% above mid-market rates.

Payoneer charges 3.99% for all card payments (plus £0.39 in some countries) and up to 3% for non-GBP bank withdrawals, though Payoneer-to-Payoneer transfers are free. Also, Payoneer’s £24 annual Mastercard fee is cheaper than Airwallex’s £5/month per extra employee card.

Airwallex vs Payoneer FAQs

Can I use Airwallex or Payoneer with my UK business bank account?

Yes. You can withdraw funds from both platforms into your UK business bank account. Payoneer enables GBP withdrawals, yet users must pay fees based on their selected withdrawal method and currency. Airwallex enables GBP withdrawals to UK bank accounts through local rails without charging additional fees. Verify with your bank if they will impose any separate fees for incoming transactions.

Do Airwallex or Payoneer offer physical cards in the UK?

Airwallex provides its users with virtual and physical Visa cards that function in multiple currencies. Users can handle business expenses through the Airwallex dashboard by using these business-ready Visa cards. Payoneer provides a Mastercard which users can use for shopping and withdrawing cash at ATMs but requires an annual payment. The issuance of cards depends on both account usage and successful verification procedures.

Can I automate payments with Airwallex or Payoneer?

Airwallex offers full API access for automating payouts, FX conversions, and account functions, which is useful for tech-savvy businesses or platforms. Payoneer also provides API access, but it's more limited and mainly geared toward marketplace partners. For most freelancers and small businesses, automation tools are limited unless integrated with third-party platforms.

Alternative to Payoneer and Airwallex: Wise Business

If you are looking for an alternative to Payoneer or Airwallex Wise Business account is the perfect option. It’s quick and easy to open online, and gives you a powerful platform for sending, receiving and managing your business finances in over 40+ currencies.

wise-business

You can easily pay suppliers and employees all over the world, for low fees and the mid-market exchange rate. And best of all, you can get paid for your products or services quickly and easily, accepting payments in 8+ major currencies.

You can also link your Wise Business account with your favourite accounting tools, such as Xero or Quickbooks. This makes keeping track of your company’s finances a breeze.

Get started with Wise Business 🚀

Sources used in this article:

  1. Airwallex TrustPilot Review - TrustPilot
  2. Payoneer TrustPilot Review - TrustPilot
  3. Cross-border Fees - Airwallex
  4. Facts and Stats - Payoneer

Sources last checked 08-May-2025


*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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