Airwallex vs Wise: Ecommerce Banking Australia
Navigating the financial landscape for an e-commerce business can be a real rollercoaster. Hold tight, because I'm about to take you on a quick tour of the banking options out there — and explain why we, at HeapsGood Packaging, ultimately chose Airwallex over Wise.
A Quick Banking Rundown
- Traditional Banks: CBA, Westpac, ANZ, NAB. Reliable, but expensive for international ecommerce.
- Neobanks: Up, Judo Bank. Digital first, still limited for global business.
- Fintech Solutions: Where Airwallex and Wise compete for ecommerce businesses.
- Payment Gateways: PayPal, Shopify Payments, Stripe, Square.
- BNPL: Afterpay, Klarna, Zip.
If you're running ecommerce in Australia, you’ll likely use a mix of these. We use CBA, Airwallex, PayPal, Shop Pay, Afterpay and Zip.
Our Rocky Start with Traditional Banking
We started with CBA. Logical choice.
Until our credit card was compromised. FB ads, Google, Shopify — everything tied to that card. We were stuck waiting for replacements while subscriptions bounced and ads paused.
Add in international transaction fees and it became clear we needed something built for ecommerce, not just a standard business account.
Giving Wise a Shot
Next up was Wise. Decent FX rates. Multi-currency accounts. It did the job.
But it felt like a general international transfer tool rather than something purpose-built for scaling ecommerce teams.
At the time we didn’t have granular digital card controls for subscriptions or clean spend visibility. Wise has evolved since then, but it still didn’t feel ecommerce-native.
The Airwallex Shift
Then we landed on Airwallex. This is where things changed.
- Digital Cards with Limits: One card per subscription. Set limits. Cancel instantly.
- Staff Cards: Team members get cards with spending caps. No shared logins.
- Xero Integration: Transactions sync cleanly.
- International Transfers: Competitive FX rates without traditional bank markups.
- Built for Ecommerce: It genuinely feels designed for Shopify businesses.
It removed friction. That was the difference.
Explore Airwallex for Ecommerce
Airwallex vs Wise Comparison
| Feature | Airwallex | Wise |
|---|---|---|
| Digital cards with spend limits | Yes | Yes (added later) |
| Multi-currency accounts | Yes | Yes |
| Designed for ecommerce | Strong focus | General use |
| Xero integration | Yes | Yes |
| Staff card management | Granular controls | Basic |
Wise vs Airwallex: The Verdict
Wise is solid. No hate.
But for ecommerce businesses managing ad spend, subscriptions and overseas suppliers, Airwallex offers stronger control and flexibility.
If you're scaling Shopify, running ads, or paying international suppliers, the difference becomes obvious quickly.
Frequently Asked Questions
Is Airwallex better than Wise for ecommerce?
For ecommerce businesses managing ad spend and subscriptions, Airwallex offers stronger card controls and spend management tools. Wise is strong for general international transfers, but Airwallex feels more purpose-built for scaling online businesses.
Does Airwallex work with Shopify?
Yes. Airwallex works alongside Shopify Payments and integrates cleanly with ecommerce operations including international supplier payments and ad spend management.
Is Airwallex cheaper than traditional banks?
For international transfers and FX, Airwallex is typically more cost effective than traditional Australian banks that charge higher international transaction fees.
Can I issue cards to staff with Airwallex?
Yes. You can issue digital cards to team members with spending limits, making subscription and ad account management much cleaner.
If any queries are still buzzing around in your mind, drop them below and I’ll share what’s worked for us at HeapsGood.
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