Airwallex vs Rakuten Bank.
Airwallex (A77/100) and Rakuten Bank (R77/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Rakuten Bank leads Airwallex 4-3.
| A Airwallex №14 · FCA 77 /100 | R Rakuten Bank №13 · JFSA 77 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 77 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 0.40% | Interbank |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Partner-bank FCA | Full bank JFSA |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | €10,000,000 JP.DICJ |
| Reach | ||
| Markets served Licensed jurisdictions | 50 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | Yes |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 5k reviews | — |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | 4.3 ★ iOS 4.4 · And 4.2 |
| Read review → | Read review → | |
Pick Airwallex if…
The global multi-currency payments and operating-account platform with the broadest footprint in the SMB category — 23 currencies, local accounts in 10+ jurisdictions, local-account receiving in 60+ countries, multi-jurisdiction licensing (AU AFSL + MAS MPI + HKMA MSO + FCA EMI + US state money-transmitter), volume-based FX pricing, and issuing API for embedded card programmes. Structurally the most comprehensive cross-border AP / AR platform in the category, sitting between Wise Business (consumer-and-SMB cross-border) and Stripe (acquiring + payments) in the global-SMB stack. The embedded-finance API is the structural moat versus Aspire and Wise Business — marketplaces and SaaS platforms build payouts and card-issuing on Airwallex infrastructure rather than running multiple regional bank relationships.
Pick Rakuten Bank if…
Largest Japanese internet-only bank by customer count (~14M+) and the only TSE Prime-listed pure-play net bank (TYO: 5838, IPO 21 April 2023 — the largest Japanese IPO in five years at the time). Originally chartered as eBank in 2001; acquired by Rakuten Group (TYO: 4755) in 2009. Structural moat is the Rakuten Points + Rakuten Card + Rakuten Securities + Rakuten Mobile + Rakuten Ichiba ecosystem — points cross-pollinate across the entire surface area. Full FSA Banking Act licence; statutory DICJ member at the JPY 10,000,000 ceiling.
- Best for fees Rakuten Bank won 1 of 4
- Best for protection Rakuten Bank won 2 of 2
- Best for reach Tied
- Best for ux Airwallex won 2 of 2
Airwallex vs Rakuten Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than Rakuten Bank?
Under our v3 methodology, Rakuten Bank leads Airwallex 4–3 across 12 dimensions. Composite scores: Airwallex 77/100 vs Rakuten Bank 77/100. Rakuten Bank is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Airwallex or Rakuten Bank cheaper?
Monthly fee — Airwallex: €0; Rakuten Bank: €0. Card FX markup — Airwallex: 0.40%; Rakuten Bank: Interbank. Rakuten Bank wins more fee rows (1 of 4). See the Fees section of the matrix above for ATM caps and the rest.
Which is safer for deposits, Airwallex or Rakuten Bank?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. Rakuten Bank holds a Full bank licence under JFSA; deposit guarantee per depositor: €10,000,000. Rakuten Bank is the stronger pick on regulatory protection.
Where can I use Airwallex and Rakuten Bank?
Airwallex operates in 50 countries; Rakuten Bank operates in 1 country. Check each provider's signup page for the live country list — eligibility depends on residency, not just the licence footprint.
Want a 3- or 4-way comparison?
The dynamic compare picker handles up to four banks. Add this pair plus one or two more and we'll resolve every row.