Starling vs Airwallex for a UK Company: Fees, Who Can Open

Starling is a bank that gives a UK company one pound current account, free UK payments and FSCS cover, with a euro account as a paid extra. Airwallex is an electronic money institution that gives a company local account details in more than 20 currencies, cards and transfers to many countries, on a monthly plan.

Figures are as listed on each provider's UK pages on 15 November 2026. Starling fees come from its business account schedule that applies from 27 April 2026. Airwallex prices exclude VAT. Fees change, so check their current pages before you decide.

With Starling, yes, by the FSCS: Starling says eligible deposits are covered up to £120,000 or the equivalent. With Airwallex the FSCS does not apply. Airwallex says your funds are safeguarded in line with local regulations, which means they are kept apart from its own money. Both firms are regulated in the UK.

Starling Bank says it is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority under registration number 730166. Airwallex (UK) Limited says it is an authorised electronic money institution regulated by the FCA, firm reference number 900876. These numbers are each firm's own statement; search them on the FCA Register before you send money.

The FSCS says its deposit limit rose to £120,000 on 1 December 2025, per eligible depositor and per authorised firm. For electronic money, the FCA says the provider must put your money in a separate safeguarding account with a bank or protect it with insurance or a similar guarantee. If the firm fails, the FCA says you should get most of your money back, but it may take some time and the administrator or liquidator could take some costs.

For the full picture, read bank vs electronic money account.

Starling charges nothing to open or run its business current account, and UK Faster Payments are free. Airwallex Explore costs £19 a month, or £0 in a month when you deposit at least £10,000 or hold a £10,000 balance. Grow costs £49 a month and Accelerate is priced on request. Airwallex prices exclude VAT.

• Starling: no monthly fee; Faster Payments and Direct Debits free; CHAPS £20 per payment.
• Starling: optional Bulk Payments service £7 a month; replacement debit card £5.
• Starling: euro business account £2 a month. Its US dollar business account is listed at £5 a month, but Starling says it is not accepting applications for it at the moment.
• Airwallex: Explore and Grow each come with a one month free trial for eligible customers, and the fee is per legal entity.
• Airwallex: Explore includes up to 10 company cards and Grow up to 50; 5 active spend users a month are free, then £5 each on Explore or £12 each on Grow.
• Airwallex: if you take card payments through it, UK cards cost 1.30% plus £0.20.

The £10,000 test at Airwallex counts pounds or the equivalent in other currencies. Deposits are measured over the subscription month and the balance at the end of it. A company that passes it every month pays no plan fee at either provider, so the comparison moves to currency costs.

It depends on whether you need to hold foreign currency. Starling charges a 0.4% conversion fee on international payments but only holds pounds, plus euros if you add the euro account. Airwallex charges 0.5% above the interbank rate for major currencies and 1% for others, and lets you collect and hold more than 20 currencies without converting.

• Starling: payments to accounts in 34 countries. The payee bank or an intermediary bank may deduct its own fees.
• Starling: foreign currency arriving in the pound account is converted at its inbound exchange rate, which its schedule says includes a margin.
• Starling: moving money between your pound and euro accounts costs 0.4%.
• Airwallex: domestic transfers in EUR, GBP and CHF are free, local transfers reach 120+ countries, and Swift transfers cost £10 to £20 each.
• Airwallex: major currencies on its pricing page include AUD, USD, HKD, CNY, EUR, GBP and SGD.

If you are paid in dollars and pay suppliers in dollars, an account that holds dollars saves two conversions. If you are paid in pounds and send money abroad now and then, a 0.4% fee with no monthly cost is hard to beat. Run one normal month through both sets of fees.

Starling only accepts a limited company when all directors with access to the account are UK residents and all people with significant control are individuals who live in the UK. Airwallex states no residence rule: it asks for photo ID and a residential address for every director and for every owner of 25% or more.

• Starling: the person applying must be over 18 and both a director and a PSC.
• Starling: no holding companies, and you must not run the business through a separately incorporated legal entity.
• Starling: excluded activities include financial services, holding client money, gambling, regular large cash deposits and dealing in art, watches or precious metals.
• Airwallex: the company must be incorporated, active and in good standing in a country it supports. It does not serve shell banks, bearer share entities or anyone on a sanctions list.
• Airwallex: its UK limited company checklist does not ask for proof of business address, but a fairly new business may be asked for invoices, contracts or a business plan.

Airwallex says an account typically opens in 1 to 3 business days. If your directors live outside the UK, see UK business bank account for non residents for the providers that state no residence rule. Whichever you choose, the names and addresses you enter must match your Companies House record.

Starling fits a company run by UK residents that trades mostly in pounds and wants FSCS cover with no monthly fee. Airwallex fits a company that gets paid or pays in several currencies, or whose directors live abroad. A company that qualifies for both can use both: Starling for pounds and reserves, Airwallex for foreign currency.

1. 1

   Check eligibility first

   List where every director and PSC lives. If any of them lives outside the UK, Starling is out under its current rules.

2. 2

   Decide where reserves sit

   FSCS cover applies to the Starling balance up to £120,000. Money at Airwallex is safeguarded instead.

3. 3

   Map your currencies

   Pounds only points to Starling. Dollars, euros and others in and out points to Airwallex.

4. 4

   Connect your books

   Starling connects to Xero, QuickBooks and FreeAgent. Airwallex names Xero, Amazon and Shopify among its connections.

5. 5

   Keep the details consistent

   Use the same company details, website and SIC code on every application.

To see more providers side by side, read UK digital business banks compared, Airwallex vs Payoneer and Wise Business for a UK company.