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Updated September 28, 2026 · VaultCue Editorial Team

Airwallex vs Monzo

Airwallex scores 8.6 and Monzo 8.9 out of 10. Compare their differences and shared features below.
Airwallex

Airwallex

8.6/10
Visit
Monzo

Monzo

Higher score in this comparison

8.9/10
Visit

What sets them apart

Airwallex vs Monzo
CompareAirwallexAirwallexReviewVisitVisitMonzoMonzoReviewVisitVisit
Headline rate2.18% to 3.83%Higher2.75% to 3.5%
Minimum depositHK$0£0
Access termsAirwallex Yield: no lock-up, no minimum balance, daily returns, funds settle to and from Yield balances within 2 business daysInstant withdrawals any time, no limits, interest paid monthly, up to 20 Savings Pots, Monzo current account required, aged 16+
Monthly feeHK$2,499£0

Same on both: Rate type (Variable), Deposit protection (FSCS up to GBP 85,000), Account kind (Easy access).

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Key differences

  • Monzo scores higher overall: 8.9 vs 8.6.
  • Airwallex is licensed in 4 more countries.
  • Airwallex is available in 68 more countries.
  • Headline rate is higher at Airwallex: 2.18% to 3.83% vs 2.75% to 3.5%.
  • Support channels: only Airwallex offers Email.

Our verdict on each

Airwallex

Airwallex Yield suits businesses that want idle operating cash to earn a variable rate without tying it up. The Hong Kong account charges a monthly fee of HKD 2,499 on top of a 2.18% to 3.83% rate, and the account is easy access, so the balance stays reachable.

Read the full Airwallex review

Monzo

Monzo suits UK residents who want a fee-free current account, a linked instant-access savings pot and card spending abroad without a markup. The current account runs a monthly fee of £0, savings pay 2.75% to 3.5% variable, and deposits are covered by the FSCS: FSCS up to GBP 85,000.

Read the full Monzo review

Score breakdown

Airwallex vs Monzo
AreaAirwallexMonzo
Cost8.8A monthly fee of HKD 2,499 sits above the €449 highest fee in the comparison, offset by a HKD 0 minimum.9.3HigherCurrent account monthly fee of £0 and a 0% exchange rate markup on foreign-currency card spend.
Offer8.59.2HigherInstant-access savings paying 2.75% to 3.5% variable, instant withdrawals, a joint account, 38 currencies and a free cash machine allowance.
Trust8.5Higher8.4

Ranges side by side

Airwallex vs Monzo
FactAirwallexMonzo
Headline rate2.18% to 3.83%2.75% to 3.5%

How they place

Airwallex vs Monzo
RankingAirwallexMonzo
Savings accounts3 of 142029 of 1420
Business bank accounts2 of 56317 of 563
Money transfer services1 of 156415 of 1564

Every fact side by side

Airwallex vs Monzo
FactAirwallexMonzo
Pricing modelNot confirmedNo monthly fee
Legal entityAirwallex Capital Hong Kong LimitedMonzo Bank Limited
HeadquartersSingaporeUnited Kingdom
Founded20152015
Support channelsEmail, Help centreCovers moreHelp centre

Money transfer

Airwallex vs Monzo
FactAirwallexMonzo
Transfer feeExplore plan: $0 domestic (US/Canada) local transfer, $1-$7 per international local transfer, $15 SWIFT (SHA), $25 SWIFT (OUR)0 for UK transfers and foreign-currency card spend; international transfer up to GBP 9 fixed plus 0-1.80%
Exchange rate markup0.5% to 1%0%Lower
Delivery timeAs little as 1 business day; 90%+ of transfers arrive same daySame day for 95% of customers, average 1 day
Payout methodsBankBank, CardCovers more
Currenciesfrom 2038
Fee to send 1,000$1£0 to £9

Everyday accounts

Airwallex vs Monzo
FactAirwallexMonzo
AudienceBusinessBusiness, TeenCovers more
FeaturesNot confirmedJoint account
Free ATM withdrawalsNot confirmed£200

Where each stands against the rest

Airwallex vs Monzo
FactAirwallexMonzoMedian
Headline rate2.18% to 3.83%above the median2.75% to 3.5%above the median3.25

Median across 658 listed accounts.

Pros and cons

Airwallex

Pros

  • Airwallex Yield has no lock-up and no minimum balance, with returns added daily and a short settlement window on and off the balance
  • A variable rate of 2.18% to 3.83% with a minimum deposit of HKD 0
  • Exchange rate margins of 0.5% to 1% sit under the 2.08% upper quartile for money services here

Cons

  • A monthly fee of HKD 2,499 sits well above the €449 highest fee among the business accounts compared
  • Support runs on email and help centre only
  • The rate is variable, so the return can move rather than being locked in for a term

Monzo

Pros

  • No monthly fee on the current account: £0
  • No exchange rate markup on foreign-currency card spend: 0%
  • Savings pay a variable rate of 2.75% to 3.5% with instant withdrawals and interest paid monthly

Cons

  • Support runs on help centre only
  • Savings need a Monzo current account first, and the pot sits in an easy access product
  • International transfers charge £0 to £9 plus a percentage, unlike UK transfers and foreign-currency card spend, which cost nothing

Who each suits

Airwallex

Who it suits

  • Businesses that keep spare cash in a easy access account and want a return without a lock-up
  • Companies paying and collecting across borders, with from 20 currencies supported and margins of 0.5% to 1%

Who should look elsewhere

  • Not for anyone after a card balance rate: AXI Card Tarjeta y Credito lists 21.59% and Plazo ES lists 24.19%, far above the 2.18% to 3.83% on business cash here
  • Not for a consumer wallet: PayPal Colombia lists 3.3%, while this account is built for business customers with a HKD 2,499 monthly fee

Monzo

Who it suits

  • UK adults and teens who want everyday spending with no monthly cost
  • Savers who want instant access to their money without a notice period
  • Travellers who spend abroad often, given the 0% markup and 38 currencies

Who should look elsewhere

  • Anyone chasing a fixed-term rate, since the savings rate is variable and money comes out instantly
  • People who want phone or email help, because support runs on help centre only
  • Shoppers who only need a wallet for online payments can look at PayPal Colombia instead, where the monthly fee is $0

Current offers

Airwallex

Current offer

  • Bonus

    Limited offer - business rewards with Airwallex AI: Up to HK$68,888

    Hong Kong site offer banner linking to the 2026 Airwallex AI rewards campaign page

    Source, checked September 26, 2026

Monzo

Current offer

  • Free trial

    3 month free trial of YouTube Premium Lite included with the Max plan: 3 months free YouTube Premium Lite

    Max plan subscribers, aged 18-69, 3 month minimum term, UK residents, Ts&Cs apply

    Source, checked September 26, 2026

Country by country

Airwallex vs Monzo
CountryAirwallexMonzo
AustraliaYesNo
AustriaYesNo
BelgiumYesNo
BrazilYesNo
BulgariaYesNo
CanadaYesNo
Cayman IslandsYesNo
ChinaYesNo

8 of 69 countries where either is available.

Questions about each

Airwallex

What rate does the balance earn?+

Airwallex Yield pays a variable rate, currently 2.18% to 3.83%. The account kind is easy access, so the money is not tied to a term. Returns are added daily, and funds settle to and from Yield balances over a short settlement window.

Is there a minimum deposit or a lock-up?+

There is no lock-up and no minimum balance, and the stated minimum deposit is HKD 0. That makes the balance easy to try with a small sum and easy to top up or draw on. Cash moves to and from Yield balances across a short settlement window rather than on a fixed term.

Monzo

What does Monzo charge each month?+

The current account has a monthly fee of £0, and the pricing model it runs on is no monthly fee. The savings side carries no monthly charge either, with a minimum deposit of £0. The legal entity behind both is Monzo Bank Limited.

Is my money protected?+

Deposits are covered by the FSCS: FSCS up to GBP 85,000. In the UK the account is regulated by the Financial Conduct Authority and the Prudential Regulation Authority, so it is a bank rather than an e-money wallet. The legal entity is Monzo Bank Limited, based in the United Kingdom.

Other options to compare

Airwallex

Visit

Monzo

Visit