While Banxe provides a platform for managing both cash and cryptocurrency, its mixed customer reviews often point to high fees and technical problems, prompting some users to look elsewhere. This article will explain what Banxe does, detail the reasons you might consider an alternative, and explore other global payment solutions that could better fit your specific needs.
What is Banxe?
Banxe is a financial technology company that facilitates transactions between cash and cryptocurrency. It provides a unified platform with features like multi-currency accounts and corporate crypto wallets for managing both asset types.
The service is designed for both individuals and businesses, offering a single place to invest, exchange, and transfer funds. This approach gives users comprehensive control over their diverse financial assets.
What to Consider When Selecting a Banxe Alternative?
When searching for a financial platform to replace Banxe, it's important to weigh several factors to find the right fit for your business needs:
- Fee Structure:Evaluate the platform’s pricing, including monthly subscriptions, transaction costs, and foreign exchange fees, to ensure it aligns with your budget.
- Cryptocurrency Support:Assess the platform's ability to handle both fiat and digital currencies, including specific conversion pairs and wallet functionalities.
- Customer Service:Look into user reviews and support options, as responsive and knowledgeable assistance is vital for resolving financial issues quickly.
- Integration Capabilities:Check if the platform connects with your existing accounting software, like Xero or QuickBooks, to streamline financial management.
- Business-Specific Features:Consider whether the service offers tools tailored to your operational needs, such as payroll processing, expense management, or multi-currency accounts.
If one or more of these factors resonate with your needs, explore our curated list of alternatives in the next section.
10 Best Alternatives to Banxe
1. OneSafe
At OneSafe, we provide a finance platform designed to streamline banking for businesses, particularly those operating in the Web3 and crypto sectors. Our system offers the tools for effortless fund management, quick payments, and access to both traditional and digital assets.
We enable direct 1:1 conversions from USD to USDC on Polygon, simplifying payroll and expense management for global teams. The platform also delivers efficient onboarding, rapid account setup, and responsive customer support tailored for businesses in the digital asset space.
Pricing
Here's a look at our straightforward pricing structure:
- Free Account Services: We charge nothing for account opening, monthly maintenance, or virtual and physical card issuance, and there are no minimum balance requirements.
- Low-Cost Domestic Transfers: Pay just 0.1% for US domestic ACH and standard wires, or a flat $25 fee for Fedwire.
- Affordable International Payments: SEPA payments are only 0.2%, while international wires are 0.2% plus a $50 SWIFT fee.
- Transparent Crypto Fees: Benefit from a simple 0.1% fee on USDT transactions and fiat-to-crypto conversions at market rates with no hidden costs.
- Corporate Card FX: A 3% foreign exchange fee applies to all non-USD spending on your corporate card.
Reviews
Clients consistently praise our platform for its exceptional customer support and ability to solve complex banking headaches for modern businesses, especially those in the Web3 space.
- “OneSafe has the best customer support I've ever experienced from a bank.” - Amit Chu, Investments @ Celo Foundation
- “OneSafe is a game-changer. They solve so many headaches for our company. Finally a banking solution that gets it.” - Marco, CEO of Ensuro
Ready to simplify your business banking? Check us out here.
2. Bunq
Bunq is a Dutch fintech company established in 2012, offering mobile banking services for personal and business use across 30 European countries. The platform provides accounts that come with features like multiple International Bank Account Numbers (IBANs) and multi-currency support.
It also includes a public API for developers and incorporates a sustainability focus by planting trees based on user subscription levels. Customers are given the option to invest their funds in various environmental projects.
Pricing
Here's their pricing at a glance:
- Free bunq Free: Available for sole proprietors and includes 3 bank accounts with IBANs.
- €7.99/month bunq Core: Includes 3 bank accounts with IBANs.
- €13.99/month bunq Pro: Includes 5 bank accounts with IBANs.
- €23.99/month bunq Elite: Includes 25 bank accounts with IBANs.
Reviews
User feedback indicates varied experiences, with some customers reporting challenges with customer support, slow response times, and difficulties resolving problems. Check out more Bunq reviews here.
3. Wise
Wise, formerly known as TransferWise, is a UK-based financial technology company founded in 2011. It specializes in international money transfers by using the mid-market exchange rate.
The service includes a multi-currency account for holding over 40 currencies and a debit card for worldwide spending. Wise provides offerings for both individual and business clients through its Wise Business and Wise Platform services.
Pricing
Here's their pricing at a glance:
- Pay-as-you-go Model: Wise operates without subscriptions or monthly fees.
- Sending Fees from 0.57%: The cost for sending money varies by currency.
- $9 Multi-Currency Card: A one-time fee is charged for the Wise card.
- $31 Business Account Setup: Businesses pay a one-time fee to get account details for receiving payments.
- Free Money Holding: There are no fees for holding money in the account.
Reviews
User feedback for the platform is varied, with some customers reporting issues like account freezes and unresponsive customer support. Check out more Wise reviews here.
4. Novo
Novo is a financial technology company offering FDIC-insured business deposit accounts through its partnership with Middlesex Federal Savings. The service provides a mobile-first banking experience tailored for small business owners, freelancers, and entrepreneurs.
The platform operates without monthly fees or minimum balance requirements and provides refunds on ATM fees. It also includes a built-in invoicing tool and integrates with business software such as Xero, Stripe, and Shopify.
Pricing
Here's their pricing at a glance:
- $0 Monthly Fee: The business checking account has no monthly maintenance charges.
- $0 Minimum Balance: No minimum balance is required to keep the account open.
- Free Incoming Wires: There is no cost for receiving wire transfers.
- ATM Fee Refunds: Customers receive refunds on ATM fees up to $7 per month.
- Free Invoicing: The platform includes a tool to create and send invoices at no cost.
Reviews
User feedback often points to challenges with customer support, including slow response times and difficulty resolving disputes. Some users also report issues with account access and problems with chargebacks. Check out more Novo reviews here.
5. OneMoneyWay
OneMoneyWay is a digital platform that provides global financial operations for small and medium-sized enterprises in Europe. It offers services including international transfers with local IBANs, foreign exchange for over 24 currencies, and various payment solutions such as SWIFT and SEPA.
The platform claims to process transactions faster than traditional banks and does not set transaction limits. It also provides virtual and physical corporate cards, business accounts, and payment terminals through its regulated partners.
Pricing
Here's their pricing at a glance:
- Free Freemium: For businesses with annual revenue below £150,000, this plan includes one business account, higher transaction fees, and one virtual corporate card.
- £49/month Starter: Billed annually, this plan provides up to three business accounts, lower transaction fees, two virtual corporate cards, and two physical corporate cards.
- £99/month Business: Billed annually, this plan offers up to five business accounts, the lowest transaction fees, unlimited virtual corporate cards, and four physical corporate cards.
Reviews
User feedback for OneMoneyWay often centers on the company's customer service and the time required for account setup. Check out more OneMoneyWay reviews here.
6. Axos Bank
Axos Bank, founded as Bank of Internet USA in 2000, is a digital bank that offers a variety of financial services from its headquarters in San Diego, California. The institution provides personal and business banking, along with loan and investment solutions.
It offers accounts with competitive interest rates, such as 1.01% APY on its Business Interest Checking, and low to no fees on certain products. The bank also provides access to funds through a large network of ATMs.
Pricing
Axos Bank's pricing is based on individual account types; some accounts have no monthly fees, while others have fees that can be waived by meeting certain balance requirements. The bank does not publicly list all of its service fees, and direct contact may be necessary for complete pricing details.
Reviews
User feedback often points to issues with the app's functionality, including glitches and slow performance. Some customers also report problems with the payment system and account access. Check out more Axos Bank reviews here.
7. RelayFi
RelayFi is a financial technology company that provides an online banking platform tailored for small businesses. The service is structured to help companies manage their finances and cash flow.
The platform allows for the creation of up to 20 checking accounts with no monthly fees or minimum balance requirements and is the official banking partner for the Profit First methodology. It also offers automated savings accounts, customizable debit cards with spending policies, and integration with accounting software like QuickBooks and Xero.
Pricing
Here's their pricing at a glance:
- $0/month Starter Plan: Includes essential banking features, automated savings, and integrations with QuickBooks and Xero.
- $30/month Grow Plan: Offers all Starter Plan features plus tools like multi-step bill approval rules and branded invoices.
- $90/month Scale Plan: Provides all Grow Plan features along with AI-powered automation and cash flow insights.
Reviews
User reviews for RelayFi frequently discuss the customer support experience and platform features, with some users noting issues like transaction delays and account access problems. Check out more RelayFi reviews here.
8. VIALET
VIALET is a Lithuanian Electronic Money Institution established in 2017, offering digital banking services for small and medium-sized enterprises. The company provides dedicated International Bank Account Numbers for SEPA, SEPA Instant, and SWIFT transactions.
The platform includes card processing solutions, supports various payment methods like C2B and B2B, and offers banking APIs and mass payouts. Additionally, VIALET accepts payments to and from cryptocurrency processors and provides accounts for EU-licensed crypto exchanges.
Pricing
VIALET does not publicly disclose detailed pricing information on its website. To obtain specific pricing, interested parties must fill out an application, after which VIALET provides an initial price list that may be customized.
Reviews
User feedback often points to challenges with customer service, including reports of unprofessional behavior and slow response times. Some customers also describe difficulties with the account opening process, citing excessive information requests. Check out more VIALET reviews here.
9. Airwallex
Airwallex is a financial technology company founded in 2015 that provides a range of financial services for businesses. Its offerings include cross-border payments, multi-currency accounts, expense management, and corporate cards.
The platform allows businesses to hold funds in over 20 currencies and offers foreign exchange rates with a markup of 0.5% to 1% above interbank rates. It also provides free local transfers to more than 120 countries, corporate cards without international fees, and can connect with accounting software like Xero and QuickBooks.
Pricing
Here's their pricing at a glance:
- Free Explore Plan: Free for users who deposit at least $5,000 per month or maintain a $10,000 minimum balance; includes multiple business accounts and free local transfers.
- $99/month Grow Plan: Includes all features of the Explore Plan, adding international batch transfers, expense management, and bill pay services.
- $499/month Accelerate Plan: Contains all Grow Plan features, along with centralized financial management for global entities and single sign-on capabilities.
- Custom Plan: Pricing is tailored for high-volume businesses or those requiring custom API implementations; interested parties must contact Airwallex for details.
Reviews
User feedback points to varied experiences, with some customers reporting issues such as delayed support responses and account suspensions without clear explanations. Some users also mention challenges with the verification process and limited support options. Check out more Airwallex reviews here.
10. Payhawk
Payhawk is a spend management platform that integrates corporate cards, expense management, and accounts payable into a single system. It is designed to provide businesses with greater visibility and control over company expenditures through real-time tracking and reporting.
The service offers multi-currency Visa cards, automated receipt collection, and AI-powered data extraction in over 65 languages. It also provides integrations with accounting systems like Xero and NetSuite and supports multi-entity management within one account.
Pricing
Payhawk does not publicly disclose its pricing on its website. The company provides personalized demos where pricing is discussed and tailored to a business's specific requirements.
Reviews
Some reviewers have noted issues with the mobile app's synchronization and occasional delays in transaction updates. Additionally, a few users have reported challenges with the initial setup process and the need for clearer explanations in certain administrative settings. Check out more Payhawk reviews here.
Which One Should You Go With?
Navigating the world of digital finance can be complex, but any of the platforms listed can serve as a solid alternative to Banxe depending on your needs. If you're a modern business looking for a platform that understands the digital asset space, we believe OneSafe offers the ideal blend of traditional and crypto banking. Ready to see the difference? Sign up for OneSafe today.
