How to send money with Airwallex: A step-by-step guide

Key takeaways

• Roughly 80% of Canadian cross-border payments still route through US correspondent banks, slowing delivery and increasing risk, according to Payments Canada.¹

• To send money with Airwallex, select a funding currency balance, enter verified beneficiary details, choose local clearing or SWIFT, confirm the live FX rate, and route the transfer for approval.

• Airwallex Business Accounts enable secure payouts in 60+ currencies to 200+ countries, with 92% of cross-border transactions arriving the same day.

Cross-border payments can become expensive and slow for scaling companies because the routing network determines cost and delivery speed. Airwallex sends money domestically and internationally in a few simple steps. It helps businesses reduce FX and transfer costs, routing 94% of transactions via local rails.

This guide covers the send flow in the Airwallex WebApp, and breaks down fee comparisons, payment tracking, and settlement times for each geographical corridor.

How to send money with Airwallex

Sending money with Airwallex starts from a multi-currency balance rather than a CAD account. Finance teams can fund a payout from CAD, USD, or any of the 20+ currencies held in their Airwallex Multi-Currency Account, then choose whichever clearing path gets the beneficiary paid fastest for the lowest cost. 

Step 1: Navigate to Transfers and choose the funding wallet

Log in to the Airwallex WebApp, open Transfers, and select the currency balance that will fund the payout. Funding from the same currency avoids an extra currency conversion.

Step 2: Select or add a beneficiary and verify recipient details

Select an existing beneficiary from the verified directory, or add new banking syntax for automatic format verification. Airwallex checks the banking syntax against the destination country's clearing requirements before the transfer leaves the queue, catching errors that could bounce the payment back.

Step 3: Choose the routing method (domestic local rails or SWIFT)

Choose between domestic local clearing for fast settlement in 120+ countries, and SWIFT for destinations outside local coverage. Local clearing routes the payment through rails like ACH in the US, Faster Payments in the UK, or SEPA in Europe, which is more direct and doesn’t require correspondent banks.²

Step 4: Review the FX rate, transfer fees, and delivery estimate

Before confirming, review all fees and the projected delivery date, which vary according to domestic vs international payments and clearing network. A domestic CAD payment over EFT often carries no transfer fee or FX markup, but fees can vary by transfer type, plan, and applicable fee schedule. An international transfer that needs currency conversion carries an FX markup of 0.5% on major currencies (1% on others) and, if routed over SWIFT, a flat fee of US $20 to $35 and 1-5 business days to land.

Step 5: Add compliance data, transfer purpose, and references

Enter the details required for the particular payment corridor. Payments may be returned or delayed if this information is not complete or correct. 

Step 6: Review, route for approval, and send

Confirm all details then send immediately or send it through a custom approval chain for extra sign-offs if needed. Once authorized, Airwallex sends the payment on the selected rail and both the sender and the beneficiary get a digital confirmation. 

How long does a money transfer take with Airwallex?

Airwallex money transfer times depend on which network facilitates the payment: domestic clearing or SWIFT. Local transfer timing depends on the rail, cut-off times, destination and account setup, but 92% arrive the same day. A SWIFT payment clears in 1-5 business days, since it passes through multiple correspondent banks, each on its own processing schedule.

How to track Airwallex money transfers

Every payout gets a unique transfer ID in the Airwallex dashboard, with status updates such as processing, sent, paid, failed, or cancelled. Eligible SWIFT transfers may also include a Unique End-to-End Transaction Reference through SWIFT GPI tracking, providing visibility into payment milestones and intermediary processing or delays, when reported. Airwallex provides transaction confirmations; beneficiary notifications depend on the payment rail.

Other ways to send money with Airwallex

The WebApp dashboard covers one-off payouts, but Airwallex offers other ways to send money for teams that need mobile approval, high-volume disbursement, or direct API access. Understanding how international payments work across each rail helps a finance team pick the cheapest, fastest channel for a given payment.

Airwallex mobile app

Airwallex’s mobile app lets teams manage spend on the go. When enabled for an account, approvers can review and approve transfers in the Airwallex mobile app.

Batch transfers for mass payouts

Finance teams running payroll, marketplace payouts, or recurring supplier invoices can send batch transfers of up to 1,000 recipients, subject to applicable rails, destinations, plan, and fees. Airwallex reduces time spent on manual entry by validating each row's banking syntax, consolidating the FX conversions, and executing the whole batch in one workflow. 

Payout APIs for enterprise automation

SaaS platforms and marketplaces that need to pay out programmatically can use Airwallex Payouts to automate beneficiary onboarding, trigger FX conversions, and issue payments from their own software. For a transaction-heavy business, connecting directly to local clearing networks is one of the best ways to send money internationally without adding finance headcount.

Airwallex transfer fees and FX rates

The total cost of a cross-border payment can include FX markups, transfer fees, intermediary fees, and recipient-bank charges. Even when a bank advertises a modest wire fee, they are often embedding a 2% to 4% margin over the interbank rate. Airwallex separates the two, charging a transparent FX markup of 0.5% on major currencies and 1% on the rest.³ 

Consider a Canadian business sending US$50,000 to a supplier from a CAD account. A Canadian bank charging a 3% FX spread (CA$2,025), a CA$45 wire fee, and CA$25 in correspondent deductions would cost around CA$2,095 total. Routed through Airwallex over US ACH rails, the same transfer incurs a 0.5% FX markup of about CA$338 with no clearing fees or correspondent deductions, saving over CA$1,750, or roughly 84%.

Controls, approvals, and accounting integrations

Role-based access and dual-control authorization give finance directors the ability to customize payment thresholds, such as allowing an AP specialist to prepare a batch up to a limit, after which point a second approver needs to sign off. Airwallex's Software Integrations with Xero, QuickBooks Online, and NetSuite automatically pull transaction data, FX conversions, and fees into the general ledger every hour.

Frequently asked questions about sending money with Airwallex

Can I send money from Airwallex to a personal bank account?

Yes, sending money from Airwallex to personal bank accounts is permitted as long as the payment is a legitimate business transaction, such as contractor pay, payroll, or an expense reimbursement. The recipient's full legal name needs to match their bank records and an accurate transfer purpose code. Airwallex doesn't support personal remittances or peer-to-peer transfers.

Is Airwallex a bank?

No, Airwallex is not a bank. It operates as a fintech company registered with FINTRAC as a Money Services Business. It partners with tier-one banks to hold customer funds and provide clearing infrastructure.

Can I use Airwallex for personal use?

No, Airwallex cannot be used for personal use. The platform is built for registered businesses, corporations, and verified sole proprietors. Onboarding requires business registration documents, tax numbers, and beneficial ownership information.

What payment methods does Airwallex support?

The payment methods Airwallex supports vary by incoming and outgoing payments. For Canadian payouts, available methods include EFT, Interac e-Transfer, Bill Payment and SWIFT. ACH applies to eligible US routes. For payment collection, it supports 160+ local payment methods, including credit and debit cards as well as local receiving details via Airwallex Global Accounts. Businesses can also send payments through the Payout API or issue multi-currency cards for team spending. 

How long does a money transfer take with Airwallex?

Airwallex completes 92% of cross-border money transfers the same day or within hours when sending via local clearing networks and instant rails like Faster Payments in the UK or SEPA Instant in Europe. A transfer routed over SWIFT takes 1-5 business days, depending on the correspondent banks and cutoff times involved.

What is the difference between Airwallex local payouts and SWIFT transfers?

Airwallex local payouts send funds directly via a country's domestic clearing network, such as ACH in the US or SEPA in Europe. Funds arrive quickly with no correspondent deductions. SWIFT transfers instead pass through a chain of correspondent banks, which often charge additional fees and lead to longer clearing times.

How do I send batch payments to multiple international payees at once?

Send batch payments to multiple international payees at once by uploading a single CSV or spreadsheet into the Airwallex WebApp with up to 1,000 recipients across different currencies and countries. Airwallex validates the beneficiary syntax on every row, consolidates the FX conversions needed, and sends the whole batch in one approval workflow.

Is my money protected with Airwallex?

Airwallex holds funds with established financial institutions in segregated Retail Payments Activities Act (RPAA) trust accounts that are kept separate from Airwallex's own operating capital and other customers' funds.

Can I send money domestically with Airwallex?

Yes, Canadian businesses can send CAD payments domestically over EFT or Interac e-Transfer using the recipient's institution number, transit number, and account number. Depending on the destination and available local route, USD payments may be sent via local methods rather than SWIFT.

Sources

1. https://www.payments.ca/speech-opening-remarks-2026-payments-canada-summit

2. https://www.airwallex.com/en-us/business-account/transfers/send-money-to-canada

3. https://www.ledgerlogic.ca/blog/airwallex-vs-wise-business-canada