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Updated October 17, 2026 · VaultCue Editorial Team

Airwallex vs Novo

Airwallex scores 8.6 and Novo 9.2 out of 10. Compare their differences and shared features below.
Airwallex

Airwallex

8.6/10
Visit
Novo

Novo

Higher score in this comparison

9.2/10
Visit

What sets them apart

Airwallex vs Novo
CompareAirwallexAirwallexReviewVisitVisitNovoNovoReviewVisitVisit
Minimum depositHK$0$0
Deposit protectionFSCS up to GBP 85,000FDIC up to USD 250,000
Access termsAirwallex Yield: no lock-up, no minimum balance, daily returns, funds settle to and from Yield balances within 2 business daysOn-demand access, no minimum balance requirement
Monthly feeHK$2,499$0
Account kindEasy accessCash management
Headline rate2.18% to 3.83%Not confirmed
Rate typeVariableNot confirmed

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

  • Novo scores higher overall: 9.2 vs 8.6.
  • Airwallex is licensed in 4 more countries.
  • Airwallex is available in 68 more countries.
  • Support channels: only Novo offers Chat.

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

Novo

Novo is a US business-banking fintech. It sends a physical debit card to the primary owner when the account is opened, and a virtual card can be activated after approval.

Read the full Novo review

Score breakdown

Airwallex vs Novo
AreaAirwallexNovo
Cost8.8A monthly fee of HKD 2,499 sits above the €449 highest fee in the comparison, offset by a HKD 0 minimum.9.3HigherMonthly fee $0, minimum deposit $0 and transfer fee $0 on the business checking account.
Offer8.59.1Higher
Trust8.5Not confirmed

How they place

Airwallex vs Novo
RankingAirwallexNovo
Savings accounts3 of 142020 of 1420
Business bank accounts2 of 56310 of 563
Money transfer services1 of 156410 of 1564

Availability and regulation

Airwallex vs Novo
CountryAirwallexNovo
AustraliaNot confirmed
Hong KongNot confirmed
NetherlandsNot confirmed
SingaporeNot confirmed
United KingdomNot confirmed
United StatesNot confirmed

Available in 1 country for both. Additional countries for Airwallex: 68.

Sources behind this comparison

Airwallex

  • airwallex.com: 7 facts, checked September 26, 2026
  • help.airwallex.com: 2 facts, checked September 26, 2026
  • en.wikipedia.org: 1 fact, checked September 26, 2026
  • register.fca.org.uk: 1 fact, checked September 26, 2026

Novo

  • novo.co: 9 facts, checked September 26, 2026

Every fact side by side

Airwallex vs Novo
FactAirwallexNovo
Pricing modelNot confirmedNo monthly fee
Legal entityAirwallex Capital Hong Kong LimitedNovo Platform Inc.
HeadquartersSingaporeUnited States
Founded2015Not confirmed
Support channelsEmail, Help centreChat, Email, Help centreCovers more

Money transfer

Airwallex vs Novo
FactAirwallexNovo
Transfer feeExplore plan: $0 domestic (US/Canada) local transfer, $1-$7 per international local transfer, $15 SWIFT (SHA), $25 SWIFT (OUR)Standard ACH $0; Express ACH and outgoing wire provider fees shown before sending
Exchange rate markup0.5% to 1%Not confirmed
Delivery timeAs little as 1 business day; 90%+ of transfers arrive same daySame-day with Express ACH; FedNow transfers in seconds
Payout methodsBankBank
Currenciesfrom 20Not confirmed
Fee to send 1,000$1$0Lower

Everyday accounts

Airwallex vs Novo
FactAirwallexNovo
AudienceBusinessBusiness, FreelancerCovers more
FeaturesNot confirmedFree ATM
Local account detailsNot confirmedUs ACH
Free ATM withdrawalsNot confirmed$7

Where each stands against the rest

Airwallex vs Novo
FactAirwallexNovoMedian
Headline rate2.18% to 3.83%above the medianNot confirmed3.25

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

Novo

Pros

  • Both physical and virtual card access are described.

Cons

  • Virtual-card activation follows account approval.

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

Novo

Who it suits

  • US business owners who want physical and virtual debit-card access through Novo.

Who should look elsewhere

  • Applicants expecting virtual-card activation before account approval.

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

Novo

Current offer

  • Bonus

    Novo cashback on eligible purchases: 1% cashback with a Novo checking account balance under $5,000; 2% with a balance of $5,000 or more

    Requires a Novo checking account; rate depends on account balance; eligibility subject to final Novo determination

    Source, checked September 26, 2026

Country by country

Airwallex vs Novo
CountryAirwallexNovo
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.

Novo

Which tools can connect with the banking setup?+

Accounting, payments and payroll tools can be connected so that information stays in step across the business. A change made in one place carries through to the others without retyping. Owners who already use established bookkeeping routines can keep those habits in place while adding more reach.

Can a business grow without changing banks?+

The platform is designed to handle more volume as a company grows, so owners can plan ahead without adding extra busywork. Its features are meant to scale with the operation rather than forcing a move to a larger bank. Keeping the same banking setup while the business expands can make transitions smoother for owners and the people they work with.

Other options to compare

Airwallex

Visit

Novo

Visit