Weel vs Airwallex: compare on fees, features and benefits

What is Weel?

Weel, previously known as DiviPay, is an Australian company specialising in spend management. They help Australian businesses manage team spending with corporate cards, expense management tools, and accounts payable features, while integrating with accounting platforms. 

What is Airwallex? 

Airwallex is a one-stop solution for business financial operations, founded in Melbourne. Like Weel, Airwallex provides businesses a platform for spend management, but also offers multi-currency business accounts, payment gateways and links, and embedded finance tools, and more. 

Airwallex Spend brings together our Corporate Cards, Expense Management tools, and Bill Pay products into a unified suite to help you simplify your  business’ spending. These tools are supported by our our market-leading global financial infrastructure, and integrate seamlessly with leading accounting platforms including Xero, Netsuite, Quickbooks, and more.

Compare Weel with Airwallex

Weel fees explained 

Account fees: Weel’s starter plan ‘Basic’ starts at $119/month andh includes standard features including cards, reimbursements and integrations. 

It doesn’t include rule-based approval flows, custom expense fields, or invoice payments. Users are also not managed by a dedicated Account Manager, which is only available with their most expensive bundle, ‘Enterprise’.  . 

Card fees: Included in the plan are fiveusers per month. Additional users can be added at a cost of $5 per month. 

Transaction Fees: Weel offers free local transactions only as they only operate in Australia. While they don't offer international accounts, international transactions can be made in foreign currencies with a  0.95% transaction fee plus an additional currency conversion fee of up to 1%. 

Additional fees: The basic plan offers up to 50 expense records per month. Additional records will incur a 75c charge per record. 

Weel Pros and Cons 

Pros 

• Offers virtual Visa business cards for business owners and employees

• Can track real-time data for overall visibility

• Helps businesses manage SaaS subscriptions

Cons 

• Weel is only a spend management tool, so users may require other platforms to open local and global business accounts, manage payment acceptance, and set up savings accounts

• Weel’s pricing may not feel competitive when compared to Airwallex, which offers users a wider range of financial operations tools for less

• Dedicated account managers are only available to customers on the ‘Enterprise’ package

Airwallex fees explained

Account fees: Airwallex’s ‘Grow’ bundle costs $99/month which includes an advanced suite of spend management tools, plus all the loved features of the ‘Explore’ bundle like local and global accounts, company cards, payment acceptance tools, a high-rate business saver,  and integrations.

Card fees: Airwallex offers two included spend users per month with $15 per additional user per month. We also offer up to 50 free company cards, allowing more free users than Weel to access virtual cards. 

Transaction fees: Airwallex offers free local and international transactions to over 180+countries, allowing your business to grow beyond borders. A competitive FX rate of 0.5-1% above the mid-market rate is charged for currency conversion. 

Airwallex Pros and Cons 

Pros 

• Not just a spend management tool, Airwallex offers the full suite of financial operations tools

• Competitive pricing, with Airwallex’s ‘Grow’ bundle also offering everything in our ‘Explore’ package at a price that beats Weel’s ‘Basic’ package

• Incredible local and global support teams are ready to assist with any queries, with dedicated Account Managers available to qualifying businesses

Cons 

• No physical branches - digital only platform and service 

• Built to serve businesses only, with no complementary consumer account available

• New updates and optimisations being released regularly, which may not suit the user habits of all consumers

Airwallex offers advanced spend managerment, plus so much more

Airwallex and Weel both offer spend management solutions, yet Airwallex may be a better fit for businesses looking for great value and to streamline their financial operations with one platform. Ultimately, Airwallex’s product suite matches or exceeds Weel’s, while offering many more financial products for a lower price.

Powered by AI, Airwallex’s spend management system can help your teamsave time, slash admin, and gain total visibility over spending. . 

Some of the incredible results customers have seen from Airwallex’s Spend tools?

• Rodd & Gunn have seen a 40% increase in receipt retention from their team

• Tracksuit have successfully managed subscriptions with virtual company cards, “You can spin up 100 cards, have one each subscription, and you can name the cards whatever you want,” says Financial Controller Josh Hawkey

• Commission Factory’s team are getting reimbursed up to 10 times quicker by submitting requests on the Airwallex app

Sources: 

1. https://letsweel.com/pricing

2. https://help.letsweel.com/hc/en-us/articles/4639397841551-Does-Weel-support-SWIFT-codes-International-Transfers

3. https://letsweel.com/product-updates/post/team-members-cards-dashboard

4. https://letsweel.com/product/corporate-cards

5. https://letsweel.com/product/reimbursements

6. https://letsweel.com/faqs

Disclaimer: The information in this article is based on our own online research. Airwallex was not able to manually test each tool or provider. The information is provided for educational purposes only and a reader should consider the specific requirements of their business when evaluating providers. This research is reviewed annually. If you would like to request an update, feel free to contact us at [[email protected]]. This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here.