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Direct Debit Terms

Last updated: 10 November 2022

1. Direct Debit Terms

1.1 This document (the ‘Direct Debit Terms’) is a supplement to the Payout and FX Terms and it must be read together with the Payout and FX Terms. 

1.2 ​​These Direct Debit Terms constitute Additional Terms that apply to Direct Debit Services and are incorporated to form a part of the Payout and FX Terms that are applicable to you as if set out in such Payout and FX Terms in full. To the extent of any inconsistency with the applicable Payout and FX Terms, these Direct Debit Terms will prevail to the extent the inconsistency relates to the rights and obligations as set out in these Direct Debit Terms.

2. Interpretation

2.1 Unless stated otherwise in these Direct Debit Terms, the capitalised terms used in these Direct Debit Terms shall have the meanings set out in the Payout and FX Terms.

2.2 In these Direct Debit Terms the following definitions apply:

2.2.1 Direct Debit – a payment collected via UK Direct Debit scheme operated by Bacs from or to your Account.

2.2.2. Direct Debit Guarantee – means the refund terms applicable to Direct Debit Mandates as set out on the direct debit form or direct debit confirmation provided to you by the payment recipient.

3. Suspension and Termination

3.1 This Agreement shall commence on the date Customer receives confirmation from Airwallex of its successful application for Direct Debit Services and shall continue until terminated by Customer or Airwallex on the terms set out in the Payout and FX Terms or these Direct Debit Terms.

3.2 Customer or Airwallex (where applicable) may terminate these Direct Debit Terms upon two months written notice.

3.3 These Direct Debit Terms will automatically terminate when all Accounts of the Customer are closed (for any reason).

3.4 You acknowledge that Airwallex may rely on third party providers in order to provide the Direct Debit Services. In the event that a relevant third party service provider whose services are critical for the provision of the Direct Debit Services suspends or other otherwise ceases its services to Airwallex wholly or in part (including where part is specific to you) you acknowledge and accept that we will have the right to immediately cease and terminate your use and access to the Direct Debit Services in whole or in part immediately upon written ‎notice to you.‎

Schedule 1 - Direct Debit Payouts Service [where you are the payer]

1. A Direct Debit is a payment set up on your account following a request from a third party payee. You may be asked to sign a form which authorises the payee to request payments from your account.

2. You may set up, view or can cancel a Direct Debit Payout through the WebApp. 

3. Where a Direct Debit Payout has to be cancelled by Airwallex one or more times due to insufficient funds in your account (as applicable) and we believe you are unlikely to have sufficient funds in the future, Airwallex may cancel a Direct Debit immediately and without prior notice. 

4. Where an error is made on a Direct Debit Payout by the payee, the payee’s bank, or Airwallex, you’ll be entitled to an immediate refund from the payee [or from us]. For more information on the Direct Debit Guarantee please see www.directdebit.co.uk   

5. If you want a refund for a Transaction made using the Direct Debit scheme, the Direct Debit Guarantee will apply instead of the terms governing refunds in the Payout and FX Terms.

6. Cancellations

6.1 You can cancel any Direct Debit Payout transaction set up on your account provided you give us notice to cancel at least one Business Day before the Transaction is due to take place.

6.2 Cancelling a Direct Debit Payout with us will not cancel ‎the agreement with the person you are paying. It is your responsibility to tell the organisation collecting ‎the payment about the changes to your instructions.‎