Soldo vs Airwallex: compare on fees, features and benefits

If you run a business with employees who need to make purchases, an expense management solution will help you control spending, track expenses, and simplify reimbursements. Both Soldo and Airwallex offer smart solutions, but which will work for you? Read on to discover how Airwallex stacks up against Soldo when it comes to fees and features.

What is Soldo?

Founded in London in 2014 by tech entrepreneur Carlo Gualandri, Soldo is a spend management platform that helps businesses manage expenses through prepaid cards and intuitive software. It allows finance teams to distribute funds, control spending limits and track expenses in real time.

What is Airwallex? 

Founded in 2015 in Melbourne, Airwallex has evolved from a cross-border payments solution to a comprehensive global financial platform. 

As a financial technology company, it combines expense controls with multi-currency accounts, international payments, treasury management, and card issuing capabilities. With 150,000 customers worldwide, including Shein, Xero, and Qantas, Airwallex is particularly attractive to businesses with international ambitions.

Compare Soldo and Airwallex

Use our comparison table to see how Soldo measures up against Airwallex.

Compare key features between Soldo and Airwallex

Soldo fees, explained 

Soldo offers tiered pricing to suit different business needs, with monthly subscription fees starting from £21 + VAT for their Standard plan, £33 + VAT for Plus and custom pricing for larger organisations through its Unlimited plan.

• Card + user fees: Soldo charges one-time issuance fees (£5 for physical cards, £1 for virtual cards, £0.50 for temporary virtual cards) and charges per user (£7 for Standard users, £11 for Plus users).

• Transaction fees: while many transactions are included, additional outbound bank transfers cost £0.75 each after you exceed your monthly allowance (20 for Standard, 30 for Plus).

• Currency costs: you’ll pay a 1% fee for foreign currency transactions via Soldo. ATM withdrawals also incur a 1% fee with a £2 minimum.

Airwallex fees, explained

Airwallex structures its pricing to scale with businesses at every growth stage, from startups to global enterprises. Monthly fees start at £0 per month* and scale to £999 per month on the Accelerate plan for businesses needing advanced features.

• Card fees: Airwallex includes up to 10 free company cards on the Explore plan and 50 on the Grow plan with no issuance fees. Additional active card users cost £6-12 per month.

• Currency advantages: currency conversion rates are 0.5% above the interbank rate for all major currencies and it also provides free multi-currency business accounts.

• Transfer costs: Airwallex provides free domestic transfers and free transfers to 120+ countries on all plans via local methods.

* £0/month if you deposit at least £10k per month or hold a minimum balance of £10k. For more information, see here.

Compare additional features between Soldo and Airwallex

A few additional features set Soldo and Airwallex apart, and they could significantly impact your business operations:

• Global capabilities: Built for global companies, Airwallex offers multi-currency accounts in 23+ currencies. If you’re paying international suppliers or expanding into new markets, you can collect and hold funds without any unnecessary conversions. Soldo provides multi-currency support for expense cards.

• Payment acceptance: Airwallex’s Business Account means you can accept payments in 180+ currencies through multiple methods. Soldo focuses on spend management and doesn't offer payment acceptance.

• Reward structure: Airwallex offers cashback on eligible card spending across certain plans. Soldo doesn't currently provide cashback incentives.

Final thoughts: Soldo or Airwallex?

Both Soldo and Airwallex offer strong expense management solutions but with different strengths that suit various business needs.

Soldo provides comprehensive, advanced spend control features with robust budgeting tools. Its straightforward approach works well for businesses that need strong oversight of team spending.

When it comes to cost, both companies charge a monthly fee to access the expense management functionality. While Airwallex calculates its pricing plans based on number of users, Soldo opts to charge for number of users and number of cards issued.

As an end-to-end financial platform, Airwallex delivers a broader offer beyond expense management to include FX, extensive payment capabilities, and a detailed reporting function. This makes it particularly valuable for businesses with international operations or growth ambitions.

Sources

For more information on Airwallex, visit Airwallex Business Account and Airwallex pricing.

1. https://www.soldo.com/en-eu/expenses/expense-reporting-tools/

2. https://www.soldo.com/en-gb/expenses/expenses-system/expense-claim-system/

3. https://www.soldo.com/en-eu/expenses/expense-reimbursement/employee-reimbursement-system/

4. https://www.soldo.com/en-gb/pricing/

5. https://www.soldo.com/en-gb/product/request-and-approval-workflows/

6. https://support.soldo.com/hc/en-gb/articles/360014042634-Can-I-use-my-card-abroad

Disclaimer: We wrote this article in Q1 2025. The information was based on our own online research and we were 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. If you would like to request an update, feel free to contact us at [email protected].