Terms & Policies

“Airwallex for Startups” Rewards and Discounts – Terms and Conditions

Introduction

These Terms and Conditions (“Terms”) govern your participation in the Airwallex for Startups rewards and discounts programme (“Programme”) offered by Airwallex (UK) Limited (“Airwallex”, “we”, “us”, or “our”) to eligible startup customers in the United Kingdom.

These Terms are incorporated into and form part of the Customer Agreements between you (“Participant”, “you”) and us regarding the use of our services (“Services”) and shall be interpreted accordingly. Capitalised terms not defined in these Terms have the meanings given to them in the Customer Agreements.

The Programme provides two tiers of benefits:

  • Public (Non–Venture-Backed) Offer; and

  • Venture-Backed Offer (for qualifying venture-backed startups).

2. Promoter Details

The promoter of the Programme is:

Airwallex (UK) Limited Wells and More, 45 Mortimer St, London, United Kingdom, W1W 8HJ.

3. Programme Structure and Definitions

3.1 Programme Tiers

(a) Public (Non–Venture-Backed) Offer (“Public Tier”)

Participants in the Public Tier are eligible, subject to these Terms, for:

  • 2% cashback on the first £10,000 of eligible card spend; 

  • Waiver of certain fees set out on the UK Pricing page for a period of three (3) months (see section 6.3);

  • Waived fees on the first £10,000 collected via Airwallex’s payment acceptance products (see section 6.4);

  • Free FX (no Airwallex FX margin) on the first £10,000 converted via Airwallex FX & Transfers (see section 6.2).

(b) Venture-Backed Offer (“Venture-Backed Tier”)

Participants in the Venture-Backed Tier are eligible, subject to these Terms, for:

  • 0.5% cashback on the first £120,000 of eligible card spend during the Reward Period;

  • Free FX (no Airwallex FX margin) on £120,000 of FX conversions via Airwallex FX & Transfers;

  • Waived fees on the first £120,000 collected via Airwallex’s payment acceptance products;

  • Waiver of certain subscription fees set out on the UK Pricing page for a period of twelve (12) months (see section 6.3).

3.2 Key Definitions

For the purposes of these Terms:

  • Airwallex Account means the multi-currency business account you hold with Airwallex (UK) Limited.

  • Airwallex Cards means Airwallex-issued company or employee cards (including “Employee Cards”) issued under your Airwallex Account.

  • Campaign Link means the link(s) designated by Airwallex for the Programme, including (without limitation) links on the Airwallex for Startups webpage, partner webpages, or invitations communicated by Airwallex.

  • Campaign Period means the period during which you must sign up or enrol in order to be eligible for the Programme, as communicated on the relevant Airwallex for Startups or offer landing page, in partner materials or in Airwallex communications from time to time.

  • Reward Period has the meaning given in section 5.3.

  • Eligible Transactions has the meaning given in section 6.1.

  • Venture-Backed Startup means a business that:

    • has received institutional equity investment from a recognised venture capital fund, accelerator or similar institutional investor; and/or

    • has been referred or nominated into the Venture-Backed Tier by a participating VC, accelerator or ecosystem partner and accepted by Airwallex in writing.

Airwallex may request evidence of venture backing (for example, funding announcements, cap table extracts, or confirmation from a VC partner).

4. Eligibility Criteria

4.1 General Eligibility

To participate in any tier of the Programme, a Participant must:

  1. Hold or open an Airwallex Account with Airwallex (UK) Limited and be approved by Airwallex in accordance with our standard onboarding and KYC requirements;

  2. Be a business customer using the Services solely for business purposes and not as a consumer;

  3. Be incorporated or registered in the UK (or such other jurisdiction(s) as Airwallex may permit from time to time for this Programme);

  4. Comply with these Terms, the Customer Agreements and applicable law at all times; and

  5. Have received confirmation from Airwallex (via email, in-app message, or within the Rewards tab) that they have been successfully enrolled in the relevant tier of the Programme.

Airwallex may decline or revoke eligibility at its sole discretion.

4.2 Eligibility – Public (Non–Venture-Backed) Offer

To be an Eligible Participant in the Public Tier, you must:

  • Sign up to Airwallex via the relevant Public Tier Campaign Link or be otherwise enrolled by Airwallex for the Public Tier;

  • Not be enrolled in the Venture-Backed Tier or any other conflicting Airwallex promotion offering overlapping benefits (see section 9 – Exclusivity); and

  • Satisfy the general eligibility conditions in section 4.1.

Existing Airwallex customers may be added to the Public Tier at Airwallex’s discretion (for example, via an invitation or the Rewards tab in the web app).

4.3 Eligibility – Venture-Backed Offer

To be an Eligible Participant in the Venture-Backed Tier, you must:

  • Be a Venture-Backed Startup as described in section 3.2;

  • Have been:

    • referred by a participating venture capital fund or ecosystem partner using a designated Campaign Link; or

    • invited directly by Airwallex and enrolled via the Rewards tab or other enrolment flows specified by Airwallex;

  • Satisfy all general eligibility conditions in section 4.1; and

  • Receive written confirmation from Airwallex (including via in-app notification) that you have been enrolled in the Venture-Backed Tier.

Airwallex may request, and you must provide, reasonable evidence that you satisfy the venture-backed criteria. If you do not, Airwallex may either (i) decline your enrolment, or (ii) move you to the Public Tier.

5. Programme Reward Overview

5.1 Cashback Rewards – Overview

Subject to these Terms, an Eligible Participant will be entitled to receive the following cashback rewards:

Public Tier:

  • 2% cashback on the first £10,000 of Eligible Transactions; and

Venture-Backed Tier:

  • 0.5% cashback on the first £120,000 of Eligible Transactions during the Reward Period.

Cashback is non-transferable, cannot be exchanged for cash outside of crediting to your Airwallex Wallet, and is limited to one Programme profile per Eligible Participant (per legal entity).

5.2 Non-Cashback Benefits – Overview

Subject to these Terms, Eligible Participants will receive the following non-cashback benefits:

Public Tier:

  • Free FX on the first £10,000 equivalent of Eligible FX Conversions (section 6.2);

  • Waiver of collection fees on the first £10,000 collected via Eligible Collections (section 6.4);

  • Waiver of selected subscription fees (as set out on the UK Pricing page) for three (3) months (section 6.3).

Venture-Backed Tier:

  • Free FX on £120,000 equivalent of Eligible FX Conversions;

  • Waiver of collection fees on the first £120,000 collected via Eligible Collections;

  • Waiver of selected subscription fees (as set out on the UK Pricing page) for twelve (12) months.

All thresholds and caps are per Eligible Participant, across all relevant products and currencies converted into a GBP-equivalent using an FX rate determined by Airwallex at the time of calculation.

5.3 Reward Period

Unless otherwise specified in writing by Airwallex:

  • The Reward Period for all Programme benefits (cashback, FX waiver, collection fee waiver, subscription fee waiver) will start from the earlier of:

    • the date on which Airwallex confirms your enrolment into the relevant Programme tier; or

    • the date specified in the relevant email or in-app confirmation; and will continue for the timeframes stated for each benefit, subject to the applicable caps.

Airwallex may specify a shorter or longer Reward Period or separate reward windows for individual benefits in Programme communications or within the Rewards tab.

Once the relevant Reward Period ends or the applicable cap is reached (whichever occurs first), no further benefits will accrue.

6. Detailed Reward Mechanics

6.1 Eligible Transactions – Card Spend (Cashback)

Eligible Transactions for cashback are card transactions which:

  • Are made using Airwallex Cards linked to your Airwallex Account during the Reward Period;

  • Are successfully authorised, posted, and not subsequently cancelled, refunded, charged back, or reversed; and

  • Are not excluded under these Terms, the Customer Agreements or the Acceptable Use Policy.

Excluded Card Transactions include, but are not limited to:

  • Cash or cash-like transactions (including ATM withdrawals, cash advances, and purchases of gift vouchers);

  • Balance transfers;

  • Gambling or betting transactions, including bookmakers and casinos;

  • Payments connected to commodities, investments, savings or cryptoassets;

  • Payments to government bodies or tax authorities;

  • Payments to financial institutions (including credit card providers); and

  • Any transactions Airwallex determines, in its sole discretion, to be ineligible or abusive.

Airwallex may from time to time publish or update lists of excluded merchant category codes (MCCs) or transaction types. These may apply to this Programme and will form part of these Terms.

6.2 Free FX – FX Conversions

Eligible FX Conversions for the free FX benefit are:

  • Currency conversions processed via your Airwallex Account during the Reward Period;

  • That would ordinarily incur an Airwallex FX margin (as described on the UK Pricing page); and

  • Are not excluded under the Customer Agreements or the Acceptable Use Policy.

For the purposes of this Programme:

  • “Free FX” means that Airwallex will waive its FX margin on Eligible FX Conversions up to the relevant cap (i.e. £10,000 equivalent for the Public Tier and £120,000 equivalent for the Venture-Backed Tier).

  • Network fees, third-party charges and any other non-margin fees may still apply and are not waived unless expressly stated.

Once the applicable FX conversion cap is reached, standard FX pricing (including FX margin) will apply to further FX conversions.

6.3 Subscription Fee Waivers (Pricing Page)

The reference to “Waived https://www.airwallex.com/uk/pricing” for a given period means:

  • Waiver of monthly subscription fees for the relevant plan(s) as set out on the UK Pricing page (currently including, but not limited to, the Grow plan); and

  • For the duration of:

    • three (3) months for Public Tier Participants; or

    • twelve (12) months for Venture-Backed Tier Participants, each starting from the date specified by Airwallex in your enrolment confirmation or from the first invoice date after enrolment, as determined by Airwallex.

For the avoidance of doubt:

  • Other usage-based or transactional fees (for example, FX, transfers, card acceptance fees, spend user fees, etc.) may still apply unless expressly waived; and

  • At the end of the relevant waiver period, standard subscription fees will automatically apply unless you change or cancel your plan in accordance with the Customer Agreements.

6.4 Waived Fees on Collections

Eligible Collections for the fee waiver are:

  • Payments collected via Airwallex’s payment acceptance products (for example, Checkout, Payment Links, payment plugins, or other supported methods);

  • That would ordinarily incur a collection or processing fee under the UK Pricing page; and

  • Are not excluded under the Customer Agreements or Acceptable Use Policy.

The Programme provides:

  • For Public Tier Participants: a waiver of Airwallex’s collection/processing fees on the first £10,000 collected via Eligible Collections during the Reward Period.

  • For Venture-Backed Tier Participants: a waiver of Airwallex’s collection/processing fees on the first £120,000 collected via Eligible Collections during the Reward Period.

Network, scheme or third-party fees may still apply unless Airwallex explicitly states otherwise.

7. Reward Credit and Application

  • Cashback Rewards will be calculated by Airwallex and credited in the currency of the underlying Eligible Transaction to your Airwallex Wallet, typically within 30 days from the date the Eligible Transaction is posted, or within such other timeframe as Airwallex may notify.

  • Fee waivers and FX waivers may be implemented as:

    • upfront configuration of zero or reduced pricing;

    • monthly or periodic rebates; or

    • credits applied to your Airwallex Account, as determined by Airwallex in its sole discretion.

If an Eligible Transaction is subsequently cancelled, refunded, reversed or becomes an Excluded Transaction, Airwallex may reverse or adjust any corresponding cashback or benefit, including by debiting the amount from your Airwallex Wallet without prior notice.

8. Reward Conditions

The Programme benefits will only be available if:

  • You remain an Eligible Participant throughout the Reward Period;

  • You have no outstanding KYC or other compliance requests from Airwallex;

  • Your Airwallex Account is active, in good standing, and not suspended or restricted; and

  • You are not in breach of these Terms, the Customer Agreements or applicable law.

Any incomplete onboarding steps (including KYC), or failure to meet any condition in these Terms, may disqualify you from receiving or retaining any Programme benefits.

Airwallex may withhold, suspend, or cancel any reward or benefit if it reasonably suspects fraud, abuse, misuse of the Programme, or any breach by you of these Terms, the Customer Agreements or applicable laws.

9. Exclusivity and Interaction With Other Offers

This Programme cannot be used in conjunction with any other offers, discounts, packages or promotions (including other cashback, FX or fee waivers) offered by Airwallex from time to time, unless Airwallex explicitly states in writing that they can be combined.

If multiple promotions would otherwise apply, Airwallex may:

  • apply only the most beneficial offer (as determined by Airwallex);

  • or convert or migrate you from one promotion to another.

For the avoidance of doubt, Venture-Backed Tier benefits are not available to Participants who are simultaneously enrolled in another Airwallex rewards promotion that provides overlapping benefits, unless expressly confirmed by Airwallex.

10. Rights Reserved by Airwallex

Airwallex reserves the right, at any time and in its sole discretion, to:

  • modify, suspend or cancel the Programme, any tier, or any benefit (including adjusting caps, Reward Periods and eligibility criteria);

  • determine the eligibility of any transaction for the Programme; and

  • interpret and apply these Terms.

Airwallex is under no obligation to confirm in advance whether a future transaction will qualify as an Eligible Transaction.

11. Use of Personal Information

Any personal information you provide to Airwallex in connection with the Programme will be collected, used, stored and disclosed in accordance with our Privacy Policy and applicable data protection laws.

12. Transferability

Participants may not transfer any rights or obligations under these Terms, or any Programme benefits, to any other person or entity without our prior written consent. Any attempted transfer without consent will be void.

13. No Third-Party Rights

These Terms create rights and obligations only between the Participant and Airwallex. No person other than the Participant and Airwallex will have any right to enforce or enjoy the benefit of any provision of these Terms.

14. Governing Law and Jurisdiction

These Terms and any non-contractual obligations arising out of or in connection with them are governed by the laws of England and Wales. The courts of England and Wales shall have exclusive jurisdiction to settle any dispute arising out of or in connection with these Terms.

15. Contacting Airwallex

If you have any questions regarding the Programme or these Terms, you may contact us at:

16. Additional Terms

16.1 Indemnification

You shall indemnify, defend and hold harmless Airwallex, each other member of the Airwallex group and their respective officers, directors, employees, advisers, agents and subcontractors (“Indemnified Persons”) from and against any loss, damage or expense (including reasonable legal fees) incurred in connection with any claims, actions, demands, suits or proceedings made against any Indemnified Person by a third party, or suffered by any Indemnified Person, arising out of or in connection with:

  • your breach of these Terms or the Customer Agreements;

  • your failure to comply with applicable law; or

  • your misuse of the Programme.

16.2 Limitation of Liability

To the maximum extent permitted by applicable law, neither Airwallex nor any of its Affiliates will be liable to you, your Affiliates or any other person in relation to these Terms or the Programme (during and after the term of these Terms), whether in contract, negligence, strict liability, tort or any other legal or equitable theory, for any:

  • loss of profits, revenue, business, goodwill, or anticipated savings; or

  • indirect, consequential, incidental, special or punitive damages,

even if advised of the possibility of such damages. Airwallex’s aggregate liability in connection with the Programme shall, in any event, be limited to the total value of benefits actually provided to you under the Programme.

16.3 Conflict

In the event of any conflict or inconsistency between these Terms and any Customer Agreement, these Terms shall prevail to the extent of that conflict in relation to the Programme.