Is Airwallex safe?

Key takeaways

• Airwallex holds two Australian Financial Services Licences (AFSLs) issued by ASIC and is registered with AUSTRAC, giving it a rigorous compliance framework.

• Security is embedded into every layer of our platform — PCI DSS Level 1, SOC 2 Type II, mandatory two-factor authentication (2FA), and real-time fraud monitoring all work to keep your account and transactions secure.

• Because Airwallex is a financial platform and not a bank, your funds aren't covered by the A$250,000 Financial Claims Scheme – but any funds held in your Airwallex wallet are still safeguarded as per RBA requirements.

Scams and cyber fraud cost Australian businesses and consumers a record A$2.18 billion in 2025,¹ making payment security a non-negotiable priority for your treasury team. So is Airwallex safe to use? Yes — but our safety model works differently from a traditional bank, because we're a global financial platform rather than an Authorised Deposit-taking (ADI) Institution. Look at our regulatory licences and our safeguarding structure, and you'll see exactly how we keep your business capital secure.

We are a global platform, moving more than US$266 billion in annualised transaction volume, and over 200,000 businesses worldwide run on our platform. Let’s go through how we keep your business’ finances secure.

Is Airwallex a bank?

Knowing how a provider manages your cash is the first step to securing it, so let's be clear: Airwallex is not a bank. We're a global financial platform, which means we don't hold an Authorised Deposit-taking Institution (ADI) licence in Australia. 

Airwallex holds two Australian Financial Services Licences (AFSL No. 487221 and No. 549026) and is regulated by the Australian Securities and Investments Commission (ASIC). In accordance with Reserve Bank of Australia (RBA) requirements, your business funds are segregated from Airwallex’s own operational funds and protected by bank guarantees. This RBA mechanism is designed to ensure that you can receive any money you hold with Airwallex back in the extremely unlikely event that Airwallex were to become insolvent. 

How is Airwallex licensed and regulated in Australia?

Regulatory compliance is your baseline defence against financial crime. We run our Australian operations under licensing regimes overseen by ASIC and AUSTRAC, across three Australian entities:

• Airwallex Pty Ltd — regulated by ASIC under Australian Financial Services Licence (AFSL) No. 487221.

• Airwallex Capital Pty Ltd — holds AFSL No. 549026, covering our investment and yield products.

• Airwallex SVF Pty Ltd — Corporate Authorised Representative (CAR No. 001313604) under Airwallex Pty Ltd's licence.

Airwallex is bound by strict anti-money laundering and counter-terrorism financing (AML/CTF) obligations: maintaining an active transaction-monitoring programme, performing ongoing customer due diligence, and reporting suspicious matters to AUSTRAC.

Our global footprint is substantial: we hold 80+ licences and permits globally and have active relationships with 50+ banks and financial institutions, so your international payments travel through a globally recognised network.

How does Airwallex protect your money in Australia?

Trusting a digital platform with your daily cash flow means knowing your money is safe even in a worst-case scenario. That's why we use an institutional-grade safeguarding model.

RBA required safeguarding

The RBA requires non-bank payment providers like Airwallex to safeguard customer funds. We do this by arranging for APRA-regulated banks (ADIs) to provide bank guarantees covering the aggregate customer wallet balance. Your funds aren't pooled with our operating capital — whether we're building software, expanding offices, or managing expenses, your cash stays separate and untouched. You can find out more about this here.

Protecting your wallet balance

In the unlikely event that Airwallex became insolvent, your funds are protected. Airwallex works with major APRA-regulated bank(s) to guarantee the funds in your wallet and has appointed Global Loan Agency Services Australia Nominees Pty Ltd (GLAS) as the independent third-party trustee under these guarantees. If Airwallex ever became insolvent, you are able to claim directly to GLAS, which holds the guarantees for your benefit as trustee and is obliged to pay out your wallet balance accordingly.

Is Airwallex covered by the Financial Claims Scheme?

The government's A$250,000 Financial Claims Scheme (FCS) is designed for traditional depositors. Because Airwallex is a financial platform and not a bank, your funds aren't directly covered by the government's A$250,000 Financial Claims Scheme (FCS) .

Our safeguarding model works differently. The ADI-backed guarantees are designed to cover your full customer wallet balance, with no A$250,000 cap. For a business holding payroll funds, tax provisions, or capital reserves above that limit, that structure can offer broader protection than the FCS cap — without forcing you to split balances across multiple banks.

Every business has different needs, so for the exact terms of how your wallet balance is protected, refer to our Product Disclosure Statement (PDS).

What security features protect your Airwallex account?

Securing daily transactions takes more than a password, especially as cyber threats increasingly target corporate payment infrastructure. In Australia, the average cybercrime now costs large businesses A$202,700 per incident². We build enterprise-grade security into every layer of our platform:

• Industry-leading certifications: Our platform maintains PCI DSS Service Provider Level 1, SOC 1, SOC 2 Type II.

• Mandatory two-factor authentication (2FA): We require 2FA on all accounts, so only authorised users can log in or move money.

• Proactive card controls: Freeze, modify, or cancel physical and virtual cards instantly from your dashboard, and set custom spending limits to manage employee spend.

• Real-time AI fraud monitoring: Our risk engines screen transactions as they happen, analysing merchant categories, transaction patterns, and locations to help identify and block suspicious activity.

• Payment tokenisation: When you save customer card details, we replace the sensitive data with non-sensitive tokens, keeping original card details in a secure vault.

With security built in by default, your finance team can focus on growth.

Why Australian businesses choose Airwallex

Once you know your funds are secure, our features let you run your financial operations in one place. More than 200,000 businesses globally already do.

• Global Accounts in 20+ currencies: Open local currency accounts in 20+ countries in minutes. Collect, hold, and pay in local currencies without forced conversions, and save up to 80% on FX fees compared to traditional banks. 

• Corporate cards with spend controls: Issue physical and virtual Visa cards instantly, track transactions in real time, and cut out manual reimbursements. 

• Direct accounting integrations: Sync with Xero, NetSuite, or QuickBooks Online, to cut manual bookkeeping and simplify month-end reconciliation.

• Airwallex Yield: Put idle cash to work by earning returns on AUD and USD balances, with full segregation from our operating funds. Returns vary and aren't guaranteed — see the relevant PDS.

• Payments Gateway: Accept customer payments across major card schemes and 160+ local payment methods. 

Frequently asked questions

Is Airwallex safe for large business balances?

Yes. Customer wallet balances are protected by ADI-issued bank guarantees held on trust for our customers by an independent third-party trustee, a structure designed to protect your total balance (even above the A$250,000 FCS cap). Real-time AI fraud monitoring and mandatory 2FA help keep unauthorised users out of your account. Refer to the PDS for full details.

Does Airwallex have an Australian Financial Services Licence?

Yes, we have two. Airwallex Pty Ltd holds AFSL No. 487221 for our payments, cards, and foreign exchange products. Airwallex Capital Pty Ltd holds AFSL No. 549026 for our yield product.

What happens to my money if Airwallex shuts down?

Your funds are segregated and protected by bank guarantees held on trust for you by GLAS, an independent trustee. You'd submit a claim directly to GLAS, which would pay out your wallet balance in priority to general corporate creditors.

Is Airwallex regulated in Australia?

Yes. We're licensed and regulated by ASIC (AFSLs 487221 and 549026) and registered with AUSTRAC (Airwallex Pty Ltd: 10056662, Airwallex SVF Pty Ltd: 100861067 and Airwallex Capital Pty Ltd: 100842047), which means we comply with strict Australian financial services and AML/CTF laws.

Sources

1. https://www.nasc.gov.au/system/files/targeting-scams-report-2025.pdf 

2. https://www.cyber.gov.au/about-us/view-all-content/reports-and-statistics/annual-cyber-threat-report-2024-2025 

3. https://help.airwallex.com/hc/en-gb/articles/6087666926607-How-we-protect-the-funds-shown-in-your-wallet-balance-AU 

4. https://help.airwallex.com/hc/en-gb/articles/4404265644185-How-does-Airwallex-keep-my-money-safe 

5. https://www.airwallex.com/en-au/terms/product-disclosure-statement 

6. https://help.airwallex.com/hc/en-gb/articles/900001757106-How-is-Airwallex-licensed-and-regulated