Airwallex vs Banco PAN.
Airwallex (A77/100) and Banco PAN (B75/100), 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 Banco PAN 5-3.
| A Airwallex №14 · FCA 77 /100 | B Banco PAN №21 · BACEN 75 /100 | |
|---|---|---|
| Score | ||
| Composite score Out of 100 | 77 /100 | 75 /100 |
| Fees | ||
| Monthly fee Cheapest paid tier (€0 if free) | €0 Free tier | €0 Free tier |
| FX markup Debit card abroad | 0.40% | 3.00% |
| Free FX / month EUR equivalent | €0 | €0 |
| Free ATM Before fee kicks in | — | — |
| Protection | ||
| Banking licence Tier | Partner-bank FCA | Full bank BACEN |
| Deposit guarantee Per depositor | €100,000 SG.SDIC | €250,000 BR.FGC |
| 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 | 4.5 ★ iOS 4.5 · And 4.4 |
| 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 Banco PAN if…
Brazilian full bank, BACEN-licensed since 1969 (digital pivot 2018). BTG Pactual majority owner since 2021. B3-listed. ~28M customers. FGC cover. Adds full-bank diversity to Nubank/Inter/C6 in BR; differentiates by payroll-deductible lending heritage.
- Best for fees Airwallex won 1 of 4
- Best for protection Banco PAN won 2 of 2
- Best for reach Tied
- Best for ux Airwallex won 2 of 2
Airwallex vs Banco PAN — FAQ
Quick answers to the four questions the search-bar asks most about a head-to-head.
Is Airwallex better than Banco PAN?
Under our v3 methodology, Airwallex leads Banco PAN 5–3 across 12 dimensions. Composite scores: Airwallex 77/100 vs Banco PAN 75/100. 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 Banco PAN cheaper?
Monthly fee — Airwallex: €0; Banco PAN: €0. Card FX markup — Airwallex: 0.40%; Banco PAN: 3.00%. Airwallex 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 Banco PAN?
Airwallex holds a Partner-bank licence under FCA; deposit guarantee per depositor: €100,000. Banco PAN holds a Full bank licence under BACEN; deposit guarantee per depositor: €250,000. Banco PAN is the stronger pick on regulatory protection.
Where can I use Airwallex and Banco PAN?
Airwallex operates in 50 countries; Banco PAN 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.