Mercury vs Airwallex
For spending abroad FX markup matters, and Airwallex does better (0.5% vs 3%). In our editorial rating Mercury leads (4.8 vs 4.3). The choice depends on your real spending profile: redo the math with your volumes before picking between Mercury and Airwallex.
| Mercury | Airwallex | |
|---|---|---|
| Tier | S | A |
| Rating | ★ 4.8 | ★ 4.3 |
| Estimated net annual cost | €0 | €0 |
| Account fee | Free | Free |
| IBAN | condiviso | dedicato |
| Multi-currency | No (single currency) | Yes · 23 currencies |
| Outbound transfers to third-party IBANs | Yes | No |
| Utility direct billing | No | No |
| SEPA direct debit (SDD) | No | No |
| On-chain crypto withdrawal | No | No |
| Interest on balance | 3.61% | 3.45% |
| ATM withdrawal | not declared | not declared |
| Fund custody | Custodial (platform holds funds) | Custodial (platform holds funds) |
| KYC | Full | Full |
| Supported countries | US · 1+ countries | EEA, UK, US, APAC, LATAM · 130+ countries |
| Regulator | FDIC partner banks | ASIC / AUSTRAC |
| OAM Italy registration | No | — |
| Segment | B2B | B2B |
| SEPA transfer | — | Free |
| Regions | US | EU/EEA, UK, US, APAC, LATAM |
| Licences & safety | Banking partner (Choice Financial Group, Evolve Bank) | Payment Institution |
Frequently asked questions
Mercury vs Airwallex: which is better?
For spending abroad FX markup matters, and Airwallex does better (0.5% vs 3%). In our editorial rating Mercury leads (4.8 vs 4.3). The choice depends on your real spending profile: redo the math with your volumes before picking between Mercury and Airwallex.
Which is cheaper, Mercury or Airwallex?
On the standard spending profile Mercury has the lowest net annual cost: €0 versus €0 for Airwallex.
Which offers more cashback, Mercury or Airwallex?
Mercury has the highest cashback: up to 1.5%. Note the top rate often requires token staking and is subject to spending caps.
Is Mercury custodial or self-custody?
Mercury is custodial: funds are held by the platform, while Airwallex is custodial.
Which is better for spending abroad?
For foreign-currency spending Airwallex wins, with the lowest FX markup: 0.5%.