Varo Money vs Airwallex.
Varo Money (V82/100) and Airwallex (A77/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Varo Money leads Airwallex 6-1.
| A Airwallex №14 · FCA 77 /100 | V Varo Money №04 · OCC 82 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 82 /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 OCC |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | $250,000 US.FDIC |
| Reach | ||
| Markets served Licensed jurisdictions | 50 countries | 1 country |
| Crypto Coins available | No | No |
| Stocks & ETFs Self-directed | No | No |
| UX | ||
| Trustpilot Customer score | 4.0 ★ 5k reviews | 4.2 ★ 8k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | 4.6 ★ iOS 4.7 · And 4.5 |
| 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 Varo Money if…
First US neobank to receive an OCC national bank charter (July 2020). Direct FDIC member — your money sits at Varo Bank, N.A., not a sponsor. Headline 5.00% APY savings rate on the first $5K with direct deposit — among the highest in the US neobank market.
- Best for fees Varo Money won 1 of 4
- Best for protection Varo Money won 2 of 2
- Best for reach Airwallex won 1 of 3
- Best for ux Varo Money won 2 of 2
Varo Money vs Airwallex — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than Varo Money?
Under our v3 methodology, Varo Money leads Airwallex 6–1 across 12 dimensions. Composite scores: Airwallex 77/100 vs Varo Money 82/100. Varo Money is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Airwallex or Varo Money cheaper?
Monthly fee — Airwallex: €0; Varo Money: €0. Card FX markup — Airwallex: 0.40%; Varo Money: Interbank. Varo Money 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 Varo Money?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. Varo Money holds a Full bank licence under OCC; deposit guarantee per depositor: $250,000. Varo Money is the stronger pick on regulatory protection.
Where can I use Airwallex and Varo Money?
Airwallex operates in 50 countries; Varo Money 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.