Airwallex vs Up Bank.
Airwallex (A77/100) and Up Bank (U55/100), scored on the same six pillars and compared row-by-row. Every cell is sourced from licence registers and live pricing pages, not opinion. Airwallex leads Up Bank 4-2.
| A Airwallex №14 · FCA 77 /100 | U Up Bank №60 · PRA 55 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 55 /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 | Payment inst. PRA |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | Safeguarded AU.FCS |
| 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 | 4.0 ★ 2k reviews |
| App store iOS + Android avg | 4.5 ★ iOS 4.6 · And 4.4 | 4.8 ★ iOS 4.8 · And 4.7 |
| 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 Up Bank if…
Australian neobank built on top of Bendigo and Adelaide Bank's APRA-regulated charter — direct FCS AUD 250,000 cover via the parent. Strongest Australian neobank UX for under-35 consumers; budgeting and pay-day forecasting are best-in-class. No FX markup makes it travel-friendly.
- Best for fees Up Bank won 1 of 4
- Best for protection Airwallex won 2 of 2
- Best for reach Airwallex won 1 of 3
- Best for ux Up Bank won 1 of 2
Airwallex vs Up Bank — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than Up Bank?
Under our v3 methodology, Airwallex leads Up Bank 4–2 across 12 dimensions. Composite scores: Airwallex 77/100 vs Up Bank 55/100. Airwallex is stronger overall, but the right pick depends on which row matters most to you — fees, protection, reach, or app quality.
Is Airwallex or Up Bank cheaper?
Monthly fee — Airwallex: €0; Up Bank: €0. Card FX markup — Airwallex: 0.40%; Up Bank: Interbank. Up 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 Up Bank?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. Up Bank holds a Payment inst. licence under PRA; deposit guarantee per depositor: Safeguarded. Airwallex is the stronger pick on regulatory protection.
Where can I use Airwallex and Up Bank?
Airwallex operates in 50 countries; Up 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.