ComparisonLast checked 8 November 2026

Airwallex vs UBS

A multi-currency business account with company cards, bill pay and online payment acceptance, aimed at businesses that trade internationally. A CHF business current account from UBS for start-ups, sole proprietors and SMEs, opened online as the UBS key4 business package with optional debit, prepaid and credit cards. We also show Incard, our pick for businesses whose main costs go on cards.

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Where Incard beats both

You spend thousands a month on cards, especially on advertising, software or travel
You want a £0 plan, which Airwallex or UBS don't list
You want card cashback, which Airwallex or UBS don't list
You're comfortable with safeguarding instead of FSCS cover

cashback a year on Incard's £0 Free plan from £5,000 a month of eligible ads, software and travel spend. Simple arithmetic, not a forecast.

£600

Apply for Incard on incard.co

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What a year of card spending earns you

Incard Free against Airwallex's cheapest plan, at your monthly spend on ads, software and travel.

Monthly card spend on ads, software and travel£5,000

£828 a year better off with Incard

Incard Free: £600 cashback, £0 fees
Airwallex's cheapest plan: no cashback, £228 fees

Simple arithmetic, not a forecast: 1% on eligible ads, software and travel spend at merchants on Incard's eligible brand list, and each plan's published monthly fee. Other fees, such as FX and ATM charges, aren't included. Airwallex's cheapest plan: Explore: £0 if you deposit or hold at least £10,000 a month, otherwise £19 (excluding VAT).

Airwallex suits you if

You trade internationally and pay suppliers abroad
You want to accept card payments online
You keep at least £10,000 in the account, which makes Explore £0

UBS suits you if

You want a large Swiss bank with esisuisse cover and a free first year
You make up to 500 CHF or EUR payments a month
You pay cash in at a UBS counter or Bancomat Plus
You're founding a GmbH or AG and want the capital deposit account included

At a glance

**Table notes:** correct as of 8 November 2026, from each provider's own pages listed under Sources. “Not listed” means the provider's pages we checked don't say.
	Airwallex	UBS	Incard
Type and protection	E-money · safeguarded, no FSCS	Bank · esisuisse cover	E-money · safeguarded, no FSCS
Who can open one	UK sole traders, UK limited companies and Swiss GmbHs and AGs	Swiss GmbHs and AGs and Swiss sole traders	UK sole traders, UK limited companies, LLPs, Swiss GmbHs and AGs and Swiss sole traders
Cheapest plan	Explore: £0 if you deposit or hold at least £10,000 a month, otherwise £19 (excluding VAT)	Free for the first year, then CHF 20 a quarter	Free: £0 a month
Plans (monthly)	Explore £0 or £19, Grow £49, Accelerate custom, excluding VAT	One account: CHF 20 a quarter after a free first year	Free £0, Grow £49, Plus from £199
Card cashback	Not listed	Not listed	Free: 1% on ads, software and travel, 0.5% on other eligible spend. Higher on Grow and Plus. Uncapped
Card payments in other currencies	Not listed	Not listed	1.8% on Free, 1.5% on Grow and Plus
Domestic transfers	Domestic transfers in EUR, GBP and CHF free	500 electronic CHF and EUR payments a month free, then CHF 0.30 out and CHF 0.20 in	100 included on Free, 250 on Grow, then £0.30 each
International transfers	SWIFT £10 to £20 per transfer	SEPA no charge; non-SEPA CHF 5 plus third-party charges	3 included on Grow; otherwise from £5 (SHA) or £20 (OUR)
ATM withdrawals	Not listed	Not listed	2% in the UK, 2.5% abroad
Cash deposits	Not listed	Counter deposits free up to CHF 250,000 a quarter, then 1‰; free at UBS Bancomat Plus	Not listed
Currencies you can hold	Not listed	CHF; extra current accounts in foreign currencies, including EUR and USD	GBP, EUR and USD, with IBANs
Accepting card payments	Online from 1.30% + £0.20 for UK cards	Not listed	Not listed

Where they differ

Based on what each provider lists on its own pages. If a feature isn't listed, check with the provider before you rule it out.

Only Airwallex lists card payments from customers.
Only UBS lists cash deposits.
Only Incard lists card cashback and accounts for LLPs.

What each one is, and who can open one

Airwallex

Airwallex (UK) Ltd is an FCA-authorised e-money institution (FRN 900876). Airwallex says funds are safeguarded in line with local regulations. The FSCS says it can't protect money held with e-money firms.

Who can open one: Businesses registered in a supported country, including the UK and Switzerland (Swiss businesses are onboarded by its Netherlands entity). Companies must be fully incorporated and active. Sole traders are accepted in some locations, including the UK. Industry restrictions apply. Full Airwallex profile.

UBS

UBS Switzerland AG, a wholly owned subsidiary of UBS Group AG, is licensed as a bank in Switzerland, subject to the Swiss Federal Banking Act and supervised by FINMA. UBS Switzerland AG is a member of esisuisse. Swiss depositor protection covers up to CHF 100,000 per customer per bank, with all accounts at the same bank added together.

Who can open one: Start-ups, sole proprietorships and SMEs (AG, GmbH and other legal forms). You must be 18 or over, live in Switzerland and hold a passport or ID card from an approved country. Start-ups also need an AG with CHF 100,000 or a GmbH with CHF 20,000 capital, at least 25% of the shares and individual signing rights in the commercial register. Full UBS profile.

Incard

Incard Ltd is authorised by the FCA as an electronic money institution (firm reference number 1027309). It is not a bank. Safeguarded: Incard keeps customer funds separate from its own money, in accounts with authorised credit institutions, and doesn't lend or invest them. Funds are not protected by the FSCS.

Who can open one: UK limited companies and LLPs, UK sole traders and freelancers registered with their local authority, and Swiss GmbH, AG and sole-trader businesses. EEA onboarding is paused until an expected restart in 2027. Public sector bodies, cooperatives, charities, foundations and trusts aren't accepted, and a long list of industries is restricted. Full Incard profile.

Our e-money vs bank account guide explains what safeguarding and FSCS cover mean if a provider fails.

When Incard isn't the answer

Incard isn't the right account if

Your business is registered outside the UK and Switzerland. EEA onboarding is paused until an expected restart in 2027
You're a charity, cooperative, foundation, trust or public body, or work in one of Incard's restricted industries