OCTIS vs Wise Business vs Airwallex for Canadian businesses
Setup fees, FX markups, SWIFT costs and corporate cards in Canadian dollars.
Last checked · 4 sources
Otty's short answer
Wise charges a one-time C$55 setup fee, then FX from 0.19% and free CAD local transfers. Airwallex's Explore plan is free, with FX at 0.5% on major currencies and 1% on others, plus corporate cards on every plan. Pick Wise for simple, low-cost multi-currency transfers. Pick Airwallex if you need team cards and spend controls.
Side by side
Swipe to see every column
| What matters | OCTISHong Kong company + OCTIS global plan | Wise Business | Airwallex |
|---|---|---|---|
| Account setup | Set by our licensed partner; quoted before you commit | C$55 one-time | C$0 (Explore plan) |
| Monthly fee | Set by our licensed partner; quoted before you commit | None listed | C$0 Explore; Grow C$12 per user |
| FX conversion fee | Foreign exchange via licensed partners | From 0.19%, varies by currency | 0.5% major, 1% other |
| Local CAD transfers | Collect payments via licensed partners | Free | Free |
| SWIFT transfer | Set by our licensed partner; quoted before you commit | Receive USD 6.11 per payment | C$20 to C$35 per transfer |
| Receiving currencies | International multi-currency business account via licensed partners | 22 with account details | 20+ currencies |
| Corporate cards | Corporate card via licensed partners | Wise card, free in same currency | Unlimited cards, all plans |
| Cash rebate on card spend | Set by our licensed partner; quoted before you commit | Not published | Up to 1% on local CAD |
| ATM withdrawals | Set by our licensed partner; quoted before you commit | Free to C$100 per month | Not published |
| Spend controls and approvals | Corporate card via licensed partners | Not published on pricing page | Card limits, freeze, Grow plan users |
| Local transfers outside CAD/USD | Collecting and sending payments via licensed partners | Per currency, see fee page | Not published |
If you have staff, premises or local sales in this country, its own registration and tax rules still apply. OCTIS can help you arrange them.
Data sources & disclaimer: Comparison data was compiled from publicly available sources — including the competitors' own published pricing and feature pages — captured on 9 November 2026. Figures reflect the typical or advertised pricing at that time and may have changed since; plans, inclusions and prices vary by provider, region and promotion. OCTIS is independent and not affiliated with the named companies; all trademarks belong to their respective owners. This comparison is provided in good faith for general information only and is not professional, legal or financial advice — please verify current details with each provider before deciding.
Which one fits you
OCTIS · Hong Kong company + OCTIS global plan
Choose OCTIS if you want a multi-currency account, a corporate card and your company admin in one place.
Wise Business
Choose Wise if you move money in a few currencies, want low conversion fees and are happy with one setup fee and no monthly plan.
Airwallex
Choose Airwallex if your team needs many corporate cards, spend limits and approval flows, and FX of 0.5% on major currencies is acceptable.
What the table does not show
Fees that decide the cost
Wise lists conversion from 0.19%, with volume discounts above C$35,000. It charges C$55 once to unlock account details in 22 currencies. Airwallex Explore is free to open and charges 0.5% on USD, EUR, GBP and AUD and 1% on other currencies. Its Grow plan adds C$12 per user per month plus a platform fee that is not published. Run your own volume through both fee pages.
Cards and team spending
Airwallex lists unlimited multi-currency corporate cards on all plans, Apple Pay and Google Pay, limits and freezing, and a cash rebate of up to 1% on local CAD spend, subject to terms. Wise lists a card with free same-currency payments and free ATM withdrawals up to C$100 per month. If you issue cards to staff, Airwallex is the stronger match.
Not a Canadian bank account
Both are payments and money-movement accounts, not Canadian banks. Read each provider's terms on how your balance is safeguarded and whether it is deposit insured. Many Canadian firms keep a bank account for payroll and tax payments with the Canada Revenue Agency and use one of these for foreign payments. Airwallex's page did not state eligibility rules, so check at sign-up.
Where OCTIS fits
OCTIS is not a bank and has no partnership with Wise or Airwallex. Whichever account a Canadian subsidiary opens, a Malaysian or Hong Kong parent still needs the books done. OCTIS bookkeeping can reconcile statements from either one into group accounts, with tax and audit coordination for the home company. Ask about 10 to 30% off your current bill.
Frequently asked questions
Is Wise or Airwallex cheaper in Canada?
For conversion alone, Wise lists fees from 0.19% against Airwallex's 0.5% on major currencies. Wise charges C$55 once. Airwallex Explore is free to open. Your volume and currency mix decide the total.
Does Airwallex charge a monthly fee in Canada?
Explore is C$0 per user per month and includes up to 10 free spend users. Grow is C$12 per user per month plus a platform fee that the page does not list. Accelerate is custom priced.
Can I send CAD domestically for free?
Yes on both. Wise lists domestic CAD transfers as free. Airwallex lists domestic CAD and USD transfers as free. International SWIFT payments cost extra on both.
Does Airwallex give corporate cards in Canada?
Yes. The pricing page lists unlimited multi-currency corporate cards on all plans, with controls to limit or freeze spend, and a rebate of up to 1% on local CAD spend, subject to terms.
Is Wise Business open to personal accounts as well?
Wise offers both personal and business accounts in Canada, per its public pages. Airwallex serves businesses only. Business accounts need business details at sign-up.
Sources
Checked on the date above. Links open the provider's or regulator's own page.