Treasury concepts

This page describes the Airwallex entities used to facilitate money movement in Global Treasury.

Global Accounts

Global Accounts enable your customers to receive bank transfers into and authorize direct debit payouts from the Wallet in a region and currency of choice. You can create multiple Global Accounts programmatically without complex application processes or approval delays. After creating a Global Account, you will receive bank account information such as an account number, bank code/routing number, account name, account type, and bank name/location. Your customers can share these details with their payers so they can send bank transfers to the account, or with their recipients and authorize direct debit payouts.

Note that Global Accounts only act as conduits to receive funds or for direct debit payouts, and do not hold balances. Balances across various currencies will be held securely in the multi-currency Wallet.

In regions where we provide Global Accounts with capabilities to receive bank transfers and authorize direct debit payouts, you will be able to build an experience for your customers to operate just like a local business using a local bank account, but powered by a more automated online experience. To learn about supported regions, currencies and capabilities of our Global Accounts product, see Supported regions and currencies.

If you are a platform looking for the ability to receive payments via cards or alternative payment methods from your shoppers, see Airwallex Payments for platforms capability.

Receive funds

Global Accounts allow you and your connected accounts to receive bank transfers via local payment methods and/or SWIFT from you, your customers, other parties and various platforms such as Amazon and Google.

All funds received from payments made to Global Accounts will be settled directly into the Wallet. For example, if you receive sales proceeds from your customers with Global Accounts and would like to pay your suppliers, these sales proceeds are first settled into your Wallet in order to fund your supplier payments (incl. fees). See Receive bank transfers to Global Accounts for a step-by-step guide on how to implement solutions for your own business use cases.

Authorize direct debit payouts

Global Accounts allow you and your connected accounts to authorize direct debit payouts to recipients. A direct debit payout is based on an authorization/mandate that allows another party to pull funds from the payer’s bank account. It can be used for payments such as subscriptions, installments, retainer fees, chargebacks, loan repayments, etc.

All direct debit payouts made against Globals Accounts will be deducted directly from the Wallet. For example, if you use a USD Global Account to authorize recurring subscription charges from your SaaS provider via direct debit in the U.S., you will have to share your Global Account details to your provider. When a direct debit is received, the amount will be deducted from the USD balance of your Wallet. In case of insufficient balances, Airwallex will automatically reject the transaction on your behalf. See Authorize direct debit payouts for a detailed guide.

Direct debit payouts are currently enabled on Global Accounts in selected regions and currencies. For more information, please see Supported regions and currencies.

Linked Accounts

A Linked Account is a verified external financial account (such as a bank account, credit/debit card, or e-wallet account) that is bound to an Airwallex account. Currently, we only support linking of bank accounts under the names of an Airwallex account’s registered business entity or its legal representative/directors.

Under certain circumstances, for compliance purposes you are required to provide verified external banking information in order to receive and payout funds. Linked Accounts will help you fulfill these requirements. And with our direct debits from Linked Accounts capability, you and your connected accounts can add funds to the Wallets via direct debits from your external bank accounts. Please see Supported regions and currencies for where you can add funds via direct debits.

We provide a suite of APIs that enables you to manage your Linked Accounts and direct debits from Linked Accounts programmatically. You can retrieve the transaction details and statuses of your direct debits anytime for display, reconciliation, and analysis purposes in your product/systems. See Linked Accounts for a step-by-step guide on how to verify and manage your Linked Accounts.

When used with connected accounts, direct debits via Linked Accounts will become a more powerful feature that allows you to pull funds from your connected accounts’ external bank accounts to fund other Airwallex transactions from their Wallets. To learn more about this use case and other Linked Account based solutions we are working on, please contact your Airwallex Account Manager.

Wallet

The multi-currency Wallet (“the Wallet”) maintains all the funds that are available for use. These funds are physically held by Airwallex and safeguarded with our network of global banking partners. You can manage your own and your customers' Wallets on their behalf.

Key features