Updated September 29, 2026 · DebitCue Editorial Team
Airwallex vs Kraken
Airwallex
Kraken
Higher score in this comparison
Where Airwallex and Kraken differ
| Compare | AirwallexReviewVisitVisit | KrakenReviewVisitVisit |
|---|---|---|
| Monthly fee | £0 | €0 |
| Currency conversion fee | 0.5% | 0%Lower |
| Card network | Visa | Mastercard |
| Currencies | 20 | 600Higher |
Same on both: Card type (Debit), Cashback rate (2%).
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Key differences
- Kraken scores higher overall: 9.2 vs 9.0.
- Founded is lower at Kraken: 2011 vs 2015.
- Airwallex is licensed in 1 more country.
- Currency conversion fee is lower at Kraken: 0% vs 0.5%.
- Currencies is higher at Kraken: 600 vs 20.
- Support channels: only Airwallex offers Phone.
- Features: only Kraken offers Crypto.
Our verdict on each
Airwallex
Airwallex suits businesses that hold and spend across several currencies, pairing a £0 monthly fee with 20 currencies, virtual cards and support by phone. The trade-off sits in conversion, where fees run 0.5%, a step above the cheapest rate on a comparison of 259 brands.
Kraken
Kraken pairs a crypto wallet with a debit card that charges €0 a month and 0% for currency conversion, which suits people already holding digital assets and spending across currencies. Overall the card scores 7.3, with the offer side ahead of the cost side.
Score breakdown
| Area | Airwallex | Kraken |
|---|---|---|
| Cost | 9.2Monthly fee of £0 ranks 1 of 419, while conversion fees of 0.5% sit at 115. | 9.4HigherThe monthly fee is €0 and the currency conversion fee is 0%, both at the bottom of the site spread. |
| Offer | 9.4Multi-currency, virtual cards and travel use are listed features, with cashback of 2% on spend. | 9.4Cashback of 2%, a virtual card, crypto, multi currency and travel and balances in 600 currencies give the offer its edge. |
| Trust | 8.6 | 8.9Higher |
Availability and regulation
| Country | Airwallex | Kraken |
|---|---|---|
| Ireland | Not confirmed | Central Bank of Ireland (CBI) MiCA CASP 9845003D98SCC2851458 IE_CBI PSD_EMI IE_CBI!C453020 |
| Netherlands | De Nederlandsche Bank (DNB) R179622 | Not confirmed |
| Singapore | Monetary Authority of Singapore (MAS) PS20200541 | Not confirmed |
Positions in our rankings
| Ranking | Airwallex | Kraken |
|---|---|---|
| Debit cards | 4 of 1336 | 22 of 1336 |
| Travel cards | 2 of 443 | 14 of 443 |
What we checked
Airwallex
- airwallex.com: 7 facts, checked September 26, 2026
- play.google.com: 2 facts, checked September 26, 2026
- recordowl.com: 1 fact, checked September 26, 2026
- sgpbusiness.com: 1 fact, checked September 26, 2026
- transferfees.io: 1 fact, checked September 26, 2026
Kraken
- krak.app: 7 facts, checked September 26, 2026
- esma.europa.eu: 2 facts, checked September 26, 2026
- coingecko.com: 1 fact, checked September 26, 2026
- support.kraken.com: 1 fact, checked September 26, 2026
Every fact side by side
| Fact | Airwallex | Kraken |
|---|---|---|
| Features | Multi currency, Virtual card, Travel | Crypto, Multi currency, Travel, Virtual cardCovers more |
| Audience | Business | Not confirmed |
| Legal entity | Airwallex (Singapore) Pte. Ltd. | Payward Europe Solutions Limited |
| Headquarters | Singapore | Ireland |
| Founded | 2015 | 2011Lower |
| Support channels | Help centre, Phone, ChatCovers more | Chat, Help centre |
Where each stands against the rest
| Fact | Airwallex | Kraken | Median |
|---|---|---|---|
| Currency conversion fee | 0.5%below the median | 0%below the median | 1% |
| Cashback rate | 2%at the median | 2%at the median | 2% |
| Currencies | 20above the median | 600highest quarter | 8 |
Median across 387 listed cards.
Pros and cons
Airwallex
Pros
- A monthly fee of £0 and a rank of 1 on 419 brands for this measure
- Accounts cover 20 currencies, so several balances can sit side by side
- Virtual cards and travel use are listed features, so staff spend and trips stay in the same place
Cons
- Conversion fees run 0.5%, so converting larger amounts costs more than at the cheapest rivals
- Cashback of 2% is small next to that conversion cost on cross-currency spend
- The account is aimed at business, so personal everyday spending sits outside its remit
Kraken
Pros
- The monthly fee is €0 and the currency conversion fee is 0%, so travel spending adds no conversion cost.
- Cashback of 2% rewards ordinary card spend.
- Balances span 600 currencies and crypto, multi currency and travel covers crypto, multi-currency, travel and a virtual card.
Cons
- Support runs on chat and help centre, with no phone number in the list.
- It is a debit card, so spending stops at the balance held and no credit record is built.
Who each suits
Airwallex
Who it suits
- Businesses paying suppliers or contractors in other currencies
- Companies with staff travelling for work
- Startups keeping several currency balances side by side
Who should look elsewhere
- Single-currency spenders, who would get more from Wise
- Travellers wanting fee-free conversion, since fees run 0.5% here against 0.1% at Wise
- Households after a personal everyday card, where Varo Believe Secured Credit Card or Chime Card (Secured Visa Credit Card) fit better
Kraken
Who it suits
- People who already hold crypto and want a card that spends it.
- Readers paid in several currencies who convert at a 0% conversion fee.
- Travellers who want crypto, multi currency and travel covered by one card.
Who should look elsewhere
- Wise, for a multi-currency account rather than a crypto wallet: its monthly fee is £0.
- Varo Believe Secured Credit Card, if the aim is building a credit record with a secured card rather than spending digital assets.
- Chime Card (Secured Visa Credit Card), for a secured Visa credit card with a $0 monthly fee.
Country by country
| Country | Airwallex | Kraken |
|---|---|---|
| Australia | Yes | No |
| Canada | Yes | No |
| China | Yes | No |
| France | Yes | No |
| Germany | Yes | No |
| Hong Kong | Yes | No |
| Israel | Yes | No |
| Japan | Yes | No |
8 of 17 countries where either is available.
Questions about each
Airwallex
What does it cost to hold an Airwallex account?+
The monthly fee is £0, so keeping the account open adds no recurring cost, and Airwallex ranks 1 of 419 brands on this measure. Conversion is the charge that follows, and it is listed separately.
What is the currency conversion fee on Airwallex?+
Conversion fees run 0.5%, which sits above the cheapest conversion available, and Airwallex ranks 115 of 259 brands on this measure. Converting only when the trade rate is worth the fee keeps that cost under control.
Kraken
What does the Kraken card cost each month and abroad?+
The monthly fee is €0 and the currency conversion fee is 0%. Because the card type is debit, there is no revolving balance to pay interest on. It holds position 1 of 419 on monthly fee and position 1 of 259 on currency conversion.
Who regulates Kraken, and where is the entity based?+
The card runs through Payward Europe Solutions Limited, based in Ireland and listed with the Central Bank of Ireland under MiCA CASP 9845003D98SCC2851458 for crypto services, plus an electronic money licence recorded as PSD_EMI IE_CBI!C453020. The exchange itself was founded in 2011.