How New Zealand businesses can use ACH-enabled USD accounts to receive US tariff refunds

You’ve done the hard work.

After navigating tariff classifications, filing corrections, and working through the administrative backlog, your refund from US Customs and Border Protection (CBP) has been approved. 

On paper, the process is complete. The funds are yours. But many Kiwi businesses are running into an unexpected final barrier: they can’t actually receive the money.

Why are these refunds happening now?

The shift stems from a February US Supreme Court ruling that invalidated a set of tariffs imposed under the International Emergency Economic Powers Act (IEEPA)¹. Now, CBP has introduced a new refund process for eligible IEEPA duty refund claims. 

The Consolidated Administration and Processing of Entries (CAPE) process launched in ACE on 20 April 2026 and is being rolled out in phases. Valid refunds will generally be issued within 60–90 days after the CAPE Declaration is accepted, unless there is a compliance concern or the entry is refunded at liquidation.

According to the Guardian², approximately 330,000 importers paid more than $166bn in tariff fees. 

For many businesses, these aren’t marginal adjustments. 

“We’re expecting a refund of roughly $2.5 million USD,” said a representative from a Canadian coffee roaster – an Airwallex customer. 

“In a market where costs are rising and margins are tight, that kind of capital gives us room to reinvest in inventory, secure supply earlier, and plan for growth. What we didn’t anticipate was how complex it would be to access the funds.”

Why a standard New Zealand bank account isn’t enough

After approval, the question becomes: when and how do you get the money?

The first instinct may be to use an existing bank account. But CBP requires refund payments to be issued electronically via ACH, which means the recipient account details must be set up for ACH refunds through the ACE portal.

To receive your refund, CBP requires:

• Your bank account information to be on file in ACE

• Your refund payment to be issued electronically via ACH

ACH is a domestic US payment rail that can only route funds to US-based accounts. As a result, refunds are now issued into US-domiciled bank accounts through the ACE Portal. Paper checks are only available in limited hardship cases via waiver.

When funds are routed outside the ACH framework – typically through international wires – costs start to stack up. Payments may pass through multiple intermediary banks, each adding its own fee, while foreign exchange is often applied at a spread above the market rate.

Because these transfers rely on multiple institutions and compliance checks, delays are common – with payments often taking several business days to arrive, and longer if flagged for review. In some cases, transfers are returned or require correction before they can be completed.

In many cases, funds are automatically converted into New Zealand dollars on arrival, removing any control over timing and locking in a favourable rate. According to McKinsey & Company, cross-border payments can carry costs of several percentage points⁴ once fees and FX spreads are included – tens of thousands of dollars on a seven-figure refund.

Why opening a traditional US bank account may not be practical

The obvious workaround, opening a US bank account, comes with its own set of complications. Large US institutions require a US entity or tax ID, and in many cases, a physical presence – whether that’s a business address, a local director, or in-person verification.

Even when those requirements are met, onboarding can take weeks or months – slowed by cross-border KYC and AML checks, documentation requirements such as EIN registration and beneficial ownership verification, and manual approval processes within traditional banks. Every delay matters in a refund process that already takes 60 to 90 days from approval to payment. 

Even after a US bank account is set up, you’re still managing funds across separate systems – moving money between countries, deciding when to convert currencies, and reconciling across multiple accounts.

Airwallex: A faster alternative for New Zealand importers

Instead of opening and managing a separate US bank account, Kiwi businesses can use Airwallex to generate US-domiciled account details in minutes – with no US entity or physical presence required. 

Airwallex US local account details provide the US routing and account numbers CBP requires for ACH refunds, so you can enroll them directly in the ACE Portal like any other US bank account. Once your refund is approved and your Airwallex US account is enrolled in ACE, CBP can deposit funds directly via ACH, without you having to open a separate US bank relationship or manage a parallel banking system.

After the funds arrive in Airwallex, you can keep the refund in your own treasury instead of parked in a broker’s account so that you’re not tied to an intermediary’s timelines or fees. Plus, you can hold the balance in USD to pay US suppliers or choose to convert to NZD only when FX timing is more favorable instead of being forced into an automatic conversion the moment the money lands.

For one Canadian coffee roaster, flexibility translates to time and cost savings.

“Airwallex fit directly into the CBP process,” a representative said. “We could receive the funds right away, keeping them in USD or converting when rates were favorable, instead of taking a ‘bank spread hit’ on arrival. On a refund of this size, even small shifts in the exchange rate can mean tens of thousands of dollars.”

Sources

1. https://www.cbp.gov/trade/programs-administration/trade-remedies/ieepa-duty-refunds 

2. https://www.theguardian.com/us-news/2026/may/10/trump-tariff-refunds-small-business 

3. https://www.ctvnews.ca/world/trumps-tariffs/article/some-canadian-exporters-could-get-refunds-after-liberation-day-tariffs-struck-down/ 

4. https://www.mckinsey.com/industries/financial-services/our-insights/banking-matters/how-banks-can-win-back-lower-value-cross-border-payments-business