Understanding direct debit flight times and funding limits
What are the flight times for direct debit?
By default, direct debit deposits take 2–11 business days to settle, depending on each region's scheme rules. The direct debit deposit amount will be settled to your Airwallex Wallet at a specific settlement time, as indicated below.
| Currency | Transaction type | Cut-off time | Flight time |
|---|---|---|---|
| AUD | BECS | 4:00 PM AEST/AEDT | T+2 business days, settle at 4:00 PM AEST/AEDT |
| USD (Evolve model), <= 1 million USD per transaction | ACH | 9:30 AM CST/CDT | T+2 business days, settle at 6:00 PM CST/CDT |
| USD (Evolve model), > 1 million USD per transaction | ACH | 7:30 PM CST/CDT | T+3 business days, settle at 6:00 PM CST/CDT |
| USD, <= 1 million USD per transaction | ACH | 3:00 PM EST/EDT | T+2 business days, settle at 10:00 AM EST/EDT |
| USD, > 1 million USD per transaction | ACH | 3:00 PM EST/EDT | T+3 business days, settle at 10:00 AM EST/EDT |
| USD | Fedwire | 5:00 PM EST/EDT | T+0 business day, settle upon funds receipt |
| GBP | Bacs | 3:00 PM GMT/BST | T+4 business days, settle at 10:30 AM GMT/BST |
| EUR (SEPA region only) | SEPA | 4:00 AM CET/CEST | T+6 business days, settle at 7:00 PM CET/CEST |
| CAD | Pre-Authorised Debit (PAD) | 2:30 PM MST/MDT | T+4 business days, settle at 10:30 PM MST/MDT |
| HKD | FPS | None | Real-time |
| CNY | FPS | None | Real-time |
| SGD, <= $5,000 SGD cumulatively per day | FAST | None | Real-time |
| SGD, > $5,000 SGD cumulatively per day | GIRO | 4:30 PM SGT | T+2 business days, settle at 6:00 PM SGT |
| NZD | BECS | 8:00 PM NZST/NZDT | T+2 business days, settle at 9:00 AM NZST/NZDT |
Deposits submitted after the cut-off time will have an additional day counted toward the flight time. Therefore, we recommend leaving some buffer time ahead of the cut-off for any delays, i.e. if your transaction is selected for screening.
Customers who wish to accelerate this flight time may use our Faster Direct Debit offering. Faster Direct Debit is a commercial product with a shortened flight time of 0-2 business days, settling throughout the day. Contact your Airwallex Account Manager to request Faster Direct Debit. Confirm terms, conditions, and fees, and ask for a Faster Direct Debit limit greater than 0. You can confirm enablement with Get funding limitsAPI.
What are funding limits?
Funding limits determine the maximum amount of direct debit deposits that may be created, and are shared across all Airwallex accounts under a single legal entity. There are two types of funding limits applicable directly to your account:
- Direct debit limit determines the maximum amount of direct debit deposits created by any Airwallex account under your legal entity, in a single business day.
- Faster Direct Debit limit determines the maximum amount of outstanding Faster Direct Debit deposits created by any Airwallex account under your legal entity.
After onboarding, each legal entity will be assigned a direct debit limit, but the default Faster Direct Debit limit will be set to 0. When creating a direct debit deposit, you need to have a sufficient direct debit limit for the transaction. When creating a Faster Direct Debit deposit, you need to have sufficient direct debit limit and Faster Direct Debit limit for the transaction.
Contact your Airwallex Account Manager to request an increase to the Direct Debit limit or the Faster Direct Debit limit. Include which limit, the amount you need, and confirm the Faster Direct Debit fee schedule.
If you are registered as a platform account, you have the option of using the direct debit limit or Faster Direct Debit limit associated with your legal entity for direct debit deposits created on behalf of your connected accounts. Under this configuration, you are acting as a guarantor and your connected accounts do not have to be reviewed by our risk team to be assigned their individual funding limits.
Contact your Airwallex Account Manager to request platform-guarantor funding limits for connected-account deposits. Include that you understand the associated risks and liabilities. You can confirm the configuration with Get funding limitsAPI.