As businesses and individuals navigate the complex landscape of payment solutions, many find themselves weighing the options between Starling and Airwallex. This article aims to demystify these two providers by exploring their offerings, comparing their pricing and features, and ultimately helping you determine which service best meets your needs.
A quick overview on Starling and Airwallex
What is Starling?
Starling Bank is a UK-based digital bank offering Payment-as-a-Service solutions through secure, PSD2-compliant APIs. These services provide real-time access to UK payment schemes like Faster Payments and Bacs, enabling businesses to send and receive instant payments up to £1 million and manage Direct Debits and Credits efficiently.
Unique features include instant payment notifications, zero fees for overseas transactions, and a user-friendly interface. Common use cases for Starling's payment solutions include banks, fintech companies, insurance providers, payroll services, cross-border networks, and public sector organizations. The API integration accelerates time to market and allows businesses to focus on revenue-generating activities.
What is Airwallex?
Airwallex is a fintech company that provides a comprehensive financial platform for managing international payments, foreign exchange, and expense management. Founded in Melbourne in 2015 and now headquartered in San Francisco, Airwallex offers multi-currency accounts, corporate cards, and integrations with eCommerce platforms, enabling seamless cross-border transactions and financial operations.
Businesses engaged in international trade, eCommerce, and those requiring multi-currency transactions find Airwallex particularly beneficial. Key strengths include competitive exchange rates, the ability to hold and transact in multiple currencies, and integrations with various platforms, facilitating efficient global operations.
Pricing of Starling and Airwallex
Starling Bank offers a straightforward pricing model with no monthly fees or charges for UK payments. Businesses can benefit from zero fees on overseas transactions, making it cost-effective for international operations. Additional services, such as integrations with accounting software, are available through the Starling Marketplace, but specific pricing details for these services require direct consultation with the bank.
Airwallex, on the other hand, does not publicly disclose its pricing or fee structure. Businesses must contact Airwallex directly to obtain detailed pricing tailored to their specific needs. This lack of transparency can make it challenging for potential customers to compare costs upfront. Given the available information, Starling Bank appears to offer more transparent and potentially cost-effective pricing.
Features of Starling and Airwallex
Starling features
Starling Bank offers a range of unique features that cater to both personal and business banking needs:
- Instant Payment Notifications: Receive real-time alerts for every transaction, helping you stay on top of your finances.
- Spending Insights: Detailed analytics on your spending habits to help you manage your budget more effectively.
- Bills Manager: Automate your bill payments to ensure you never miss a due date.
- Fee-Free International Transactions: Spend abroad without worrying about foreign transaction or withdrawal fees.
- 24/7 Customer Support: Access round-the-clock assistance from a UK-based support team.
Airwallex features
Airwallex offers a range of unique features that cater to businesses operating globally:
- Multi-Currency Accounts: Hold and transact in multiple currencies, simplifying international business operations.
- Competitive Foreign Exchange Rates: Access interbank FX rates for cost-effective currency conversions.
- Corporate Cards: Issue multi-currency cards to employees for streamlined expense management.
- eCommerce Integrations: Seamlessly integrate with popular eCommerce platforms to facilitate global sales.
- Proprietary Local Payments Network: Benefit from faster and more cost-effective transactions through a unique local payments network.
Comparing Starling, Airwallex and OneSafe
Why choose one over the other?
- Why Choose Starling Over Airwallex: Starling Bank offers a more transparent pricing model with no monthly fees or charges for UK payments, making it a cost-effective option for businesses. Additionally, its user-friendly interface and instant payment notifications provide a seamless banking experience, which is highly praised by users. In contrast, Airwallex's lack of publicly disclosed pricing can make it difficult for businesses to anticipate costs.
- Why Choose Airwallex Over Starling: Airwallex excels in providing comprehensive solutions for businesses engaged in international trade, offering multi-currency accounts and competitive foreign exchange rates. Its platform supports seamless cross-border transactions and integrates with various eCommerce platforms, making it ideal for global operations. While Starling focuses on UK payment schemes, Airwallex's global reach and specialized features cater to businesses with international needs.
Considering OneSafe vs Starling and Airwallex
- Why Choose OneSafe Over Starling and Airwallex: OneSafe is uniquely designed for businesses in the Web3 and crypto sectors, offering seamless USD to USDC conversion on Polygon for instant, borderless transactions. This feature, combined with end-to-end expense and payroll management, makes it an optimal choice for global teams needing reliable, adaptive banking solutions. Additionally, OneSafe's exceptional customer support and frictionless onboarding process ensure a smooth experience tailored to the needs of digital asset companies.
What are the customers saying?
Starling reviews
Customer reviews for Starling Bank highlight several recurring issues. Users frequently mention account closures without clear explanations and challenges in resolving problems due to limited direct communication. Concerns about customer service responsiveness are also common. Check out more Starling reviews here.
Airwallex reviews
Customer reviews for Airwallex highlight several recurring issues. Users frequently mention transactions being flagged and requiring extensive documentation, as well as transactions being declined without clear explanations. Frustrations have also been expressed regarding the lack of direct communication channels and slow response times from customer support. Additionally, difficulties with payment holds and account closures have led to dissatisfaction among some customers. Check out more Airwallex reviews here.
OneSafe reviews
Customer reviews for OneSafe highlight the platform's exceptional customer support, ease of payroll processing, and its ability to simplify complex banking tasks for Web3 companies. Users consistently praise the seamless USD to USDC conversion on Polygon, which enables instant, borderless transactions, and the end-to-end expense and payroll management features.
Notable feedback includes:
- “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
Want to learn more? Check us out here.
Starling, Airwallex, or OneSafe: Which is the best platform for you?
In conclusion, while Starling Bank and Airwallex offer robust solutions for various business needs, we believe that OneSafe stands out for its specialized services tailored to the Web3 and crypto sectors. With seamless USD to USDC conversion on Polygon and comprehensive expense and payroll management, OneSafe provides a unique and efficient banking experience. Any of these options could serve your business well, but we recommend OneSafe for its innovative approach and exceptional customer support.
