General Terms

Embedded Finance Consumer Terms Airwallex US, LLC

Airwallex’s Embedded Finance Solution enables you to make use of the Airwallex payment services through an online platform (the “Platform”) provided by a third-party “Platform Provider”. These Consumer Terms only apply if you are an individual not acting in the pursuit of business and consist of the following parts:

A. General Terms: the Airwallex Consumer Service Agreement comprises general terms that apply to your use of all the Airwallex services, for example, rights and obligations in relation to Airwallex, your Airwallex account, how we keep the account protected, and information on what you are responsible for.

B. Connected Account Terms: the Connected Account Terms govern the use of our embedded finance services by you, and how we work with you and your Platform Provider. If there is any inconsistency with the General Terms, the Connected Account Terms prevail. 

C. Treasury Management Terms: the Treasury Management Terms are product-specific terms containing rights and obligations in relation to the following payment services: collecting funds into your account, holding funds in your account, making payouts from your account, and carrying out currency conversions.

D. Cards & Spend Management Terms: the Cards & Spend Management Terms are product-specific terms applying if you receive a card from Airwallex. These terms contain rights and obligations in relation to using your Airwallex card.   

E. Fee Schedule: this details the fees applicable to your use of Airwallex’s services.

You should also download a copy of these Embedded Finance Terms and keep it for future reference or ask us for a copy at any time. You can always see the most current version of these and other terms (as well as the documents below) on our website www.airwallex.com.

Airwallex Consumer Service Agreement

Last updated: November 17, 2025

This Airwallex Consumer Service Agreement (the “Agreement”) is a legal agreement between you, the individual consumer who uses our services for personal use (“you,” or “your”), and Airwallex US, LLC (“Airwallex,” “us,” “we,” or “our”). This Agreement governs your access to and use of Airwallex services for consumers, including payment, technology, software, or analytics, and any other services offered by Airwallex and its affiliates (collectively, the “Services”), directly or through our affiliates, via our website, mobile applications, or other access channels (the “Airwallex Platform”).

By accessing and using the Services, you agree to be bound by this Agreement, as well as all agreements and policies referenced in this Agreement that apply to you, including without limitation our Privacy Policy, Privacy Notice and Electronic Communications Consent Agreement. You further agree to any supplemental terms specific to the Services you use, which become part of the Agreement and are hereby incorporated herein.

1. Our Services

Airwallex offers an international payment and foreign exchange solution that provides you with the ability to collect funds from domestic and international sources in multiple currency denominations in a Global Account. Our Services also allow you to store collected funds denominated in multiple currencies in a digital wallet (the “Wallet”). The funds stored in your Wallet can be converted to other supported currencies, withdrawn and/or used to transmit payments to recipients (“Payouts”).

Airwallex will provide you with Services, including those described in the product-specific terms, and provide access to the Airwallex Platform. Your level of access to the features and functions offered through the Services will depend on your account type and other factors, such as where you are located or if you utilize services from our affiliates. Consumer Services may not be available to residents of all states.

2. Eligibility

To register for our Services and create an account with Airwallex (“Airwallex Account”), you must be an individual over the age of majority and be able to enter into a legally binding contract in the US. We do not offer services to individuals who have previously been terminated or suspended from using any of our services. You may not use the Services if you have been placed on a government sanctions list, such as those applied by the U.S. Department of the Treasury Office of Foreign Assets Control, or any other national government.

3. Account Setup

To use our Services, you must first create an account and provide accurate, complete, and up-to-date personal information. We reserve the right to perform customer due-diligence checks on you and any parties involved in your transactions, both during the application process and at any time while you use our Services. You must provide all requested information, including details needed to verify the authenticity of transactions (e.g., invoices).

We may refuse your application or suspend your use of our Services if you fail to provide the required information, if we are not satisfied with the information you provide, or if we believe you are in breach of our policies. You agree that we are not responsible for any losses that may arise from your failure to provide, or delay in providing, us with the necessary information. You also consent to our using a third party to perform any necessary verifications of the information you provide, or to provide additional information, and for us to update your Airwallex Account with such information.

4. Your representations and responsibilities

You confirm that you:

• are not acting in the course of a business or profession when using the Services;

• reside in the United States;

• are not on any sanctions list;

• will provide us with accurate, up-to-date and complete customer due-diligence information and data; 

• will, where requested, provide us with information about your transactions, where that is required in connection with their processing

• will not register for more than one Airwallex Account without our written permission; and

• will use the Services and the Airwallex Platform only for lawful purposes; and

• will comply with the Agreement, all applicable laws and all rules imposed by the financial services providers,  payment network operators, card brands or other payment method providers, and app stores (“Financial Service Providers”) supported by Airwallex.

You are responsible for any use of your Airwallex Account and other features of the Airwallex Platform, including the content of any data or transmissions you execute through the Airwallex Platform. You will not interfere with, disrupt, or cause any damage to other users of the Airwallex Platform or Services. You must not misuse the Airwallex Platform, meaning you cannot (without limitation): access the Airwallex Platform using an unauthorized method (for example you cannot use automated means); do anything that may disrupt, disable, overburden, or damage the Airwallex Platform; or cause viruses or other malicious code to interfere with the use of the Airwallex Platform.

5. Third-Party Providers

The Services may be made available in connection with services or products provided by certain third parties, including, without limitation, our affiliates and related corporate entities. Where applicable, this will be made clear to you. Separate terms and conditions will apply to your use of any third-party services. We are not responsible or liable for your use of and the performance of any third-party service. All disputes arising from your use of a third-party service must be resolved with that third party directly. You agree that we may delegate to our Financial Service Providers some of the rights and performance obligations we have under this Agreement and that our Financial Service Providers may be entitled to rights and protections available to us.

6. Service Fees

In consideration for your use of the Services, you may be required to pay certain fees, including but not limited to transaction fees and subscription fees (“Service Fees”). You agree to pay all Service Fees due to us. All Service Fees and any other amount payable to Airwallex by you exclude taxes or similar governmental assessments of any nature (“Taxes”). You are responsible for all Taxes that apply to payments you make or receive using our Services and for remitting any such Taxes to the appropriate government tax authorities.

7. Communications via Text, Push Notification, Email, and Phone

By submitting an application or opening an account to use the Services, you agree to Airwallex’s Electronic Communications Consent and confirm your consent to (a) receive Communications electronically; and (b) the use of electronic signatures. If you choose not to consent or if you withdraw your consent, you may be unable to use the Services. Unless otherwise required by law, we may communicate with you by: (a) notifying you through the Airwallex Platform; (b) to the extent that you consent to receive text messages, sending a text message to the cell phone number listed your Airwallex Account; (c) sending an email to the email address listed in your Airwallex Account; or (d) delivering them in another electronic format. By providing us with a phone number, you consent to receive text (SMS) messages, push notifications, and phone calls from us. These communications may include, but are not limited to, requests for authentication, receipts, reminders, and notifications regarding updates to your account or account support. You may opt-out of receiving promotional email communications by following the unsubscribe options in such emails. You may opt-out of text messages from Airwallex by replying STOP or by following instructions you receive in the text message. You acknowledge that opting out of receiving communications may impact your use of the Services.

8. Protection from Unauthorized Transactions

You are responsible for keeping your login credentials and card secure. You should regularly log into your Airwallex Account and review your transaction history to protect yourself from unauthorized activity. An "Unauthorized Transaction" occurs when your Airwallex Account is used to make a purchase that you did not authorize and that did not benefit you. For example, if someone fraudulently obtains access to your Airwallex Account or steals your Airwallex card and makes a transfer or a payment, an Unauthorized Transaction has occurred.

The following are NOT considered Unauthorized Transactions:

• If you give someone access to your Airwallex Account (by giving them your login information) and they exceed the authority you gave them.

• Other unauthorized purchases that are not initiated with your Airwallex Account but involve Airwallex's payment processing services, such as an unauthorized purchase from a merchant that uses Airwallex to process payments.

• If you intentionally, but acting as the result of fraud or deception, initiate a transaction on your account and later discover the fraud. You must confirm the accuracy and legitimacy of the payee’s account number before submitting a transaction.

If you believe that your login information or card has been stolen or your Airwallex Account has been otherwise compromised, you must contact consumer support immediately by emailing [email protected] or calling 1-855-932-3331. Tell us immediately if you believe an electronic fund transfer has been made without your permission using your login information or by other means.

As long as you inform us within 2 business days after you learn of the loss or theft of your login information or card, then you can lose no more than $50 on Unauthorized Transactions. If you fail to inform us within 2 business days after you learn of the loss or theft of your login information or card, and we can demonstrate that we could have stopped the Unauthorized Transaction(s) had we been notified, then you could lose as much as $500.

9. Error Resolution

An “error” means:

• An Unauthorized Transaction.

• When a transaction is incorrectly recorded in your Airwallex Account.

• You send a payment and the incorrect amount is debited from your Airwallex Account.

• A transaction is missing from or not properly identified in your Airwallex Transaction History.

• We make a computational error related to your Airwallex Account.

It is NOT considered an error if you give someone access to your account and they use your account without your knowledge or permission. You are responsible for transactions made in this situation.

In case of errors or questions about your electronic transfers, contact us as soon as you can, through the Platform, or via [email protected]. Your transaction history is available via the Platform and we must hear from you no later than 60 days after the transaction in question became visible in the Platform. You will need to give us:

• Your name and account number

• A description the error or the transfer you are unsure about, explaining as clearly as you can why you believe it is an error, or why you need more information

• The dollar amount of the suspected error

We will determine whether an error occurred within 10 business days (i.e. days that banks are open in California) after we hear from you and will correct any error promptly. If we need more time, however, we may take up to 45 days to investigate your complaint or question. If we decide to do this, we will credit your account within 10 business days for the amount you think is in error, so that you will have the money during the time it takes us to complete our investigation. If we ask you to put your complaint or question in writing and we do not receive it within 10 business days, we may not credit your account. 

For errors involving new accounts, point-of-sale, or foreign-initiated transactions, we may take up to 90 days to investigate your complaint or question. For new accounts, we may take up to 20 business days to credit your account for the amount you think is in error.

We will tell you the results within three business days after completing our investigation. If we decide that there was no error, we will send you a written explanation.

You may ask for copies of the documents that we used in our investigation. If you need more information about our error-resolution procedures, please request this from [email protected].

10. Our Intellectual Property Rights

We own all intellectual property rights in and to the Airwallex Platform, underlying technology and related documentation. The Services are protected by trademark, copyright, patent, and other laws of the United States and other countries. Subject to the Agreement, we grant you a limited, revocable, non-transferable, non-sublicensable, royalty-free and non-exclusive license to access and use the documentation and Airwallex Platform, provided that such access and use is solely for the purpose of utilizing the Services.

11. Information Sharing and Disclosure

Pursuant to the Connected Account Terms, we will disclose information about you, your account and your transactions to your Platform Provider. Outside of this, we will only disclose information about you, your account and your transactions to third parties in accordance with our Privacy Policy, including :

(a) Where it is necessary for completing transfers or pursuant to a Financial Services Provider’s request, or

(b) To verify the existence and condition of your account for a third party, such as a credit bureau or merchant, or verify your information with a third party, or

(c) To comply with law, regulation, or lawful requests from government authorities

(d) In connection with audits, compliance reviews, or other standard corporate governance activities

(e) to a successor in the event of a merger, acquisition, reorganization, or sale of all or substantially all of our assets

(f) If you give us your consent.

12. Disclaimer of Warranties

THE AIRWALLEX SERVICES AND AIRWALLEX PLATFORM ARE PROVIDED ON AN “AS IS” AND “AS AVAILABLE” BASIS. EXCEPT AS OTHERWISE EXPRESSLY STATED AS A WARRANTY, AIRWALLEX DOES NOT MAKE AND DISCLAIMS ANY AND ALL WARRANTIES OR REPRESENTATIONS, WHETHER EXPRESS, IMPLIED, OR STATUTORY, INCLUDING ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, OR NON-INFRINGEMENT. WE DO NOT PROMISE THAT THE SERVICES WILL BE UNINTERRUPTED, ACCURATE, ERROR-FREE, OR SECURE. FURTHERMORE, AIRWALLEX DOES NOT OFFER FINANCIAL ADVICE AND YOU MUST NOT TREAT ANY INFORMATION OR COMMENTS BY AIRWALLEX AS FINANCIAL ADVICE. IF YOUR JURISDICTION DOES NOT PERMIT DISCLAIMERS OR LIMITATIONS ON WARRANTIES, THEN OUR LIABILITY WILL BE LIMITED TO THE MAXIMUM EXTENT PERMITTED UNDER APPLICABLE LAW.

13. Limitation of Liability

In no event will Airwallex nor any of its affiliates, related corporate entities or suppliers be liable to you in relation to the Services or arising out of this Agreement (a) for any incidental, indirect, punitive, special, exemplary, or consequential damages (including, without limitation, loss of data or loss of business, lost profits, loss of goodwill, computer damage or system failure, and collectively, “Incidental Damages”), nor (b) in excess of the greater of the total amount of Service Fees paid to Airwallex by you during the one-year period immediately preceding the event giving rise to liability or US $100. The limitations on our liability will apply regardless of the legal theory on which your claim is based, including contract, tort (including negligence), strict liability, or any other theory. If your jurisdiction does not allow the limitation or exclusion of liability for Incidental Damages, then any limitations are intended to be only as broad as permitted under applicable law and some of the above limitations may not apply to you.

14. Termination or Suspension of Services

The Agreement continues in force until terminated. You may terminate by ceasing to use our Services and closing your account. We may terminate, upon notice to you, or suspend the Agreement and/or use of the Services at any time and for any reason. If we terminate your use of the Services, we will promptly make available for withdrawal any funds in your Wallet that are not otherwise restricted and except as otherwise required by law or court order. Upon termination, (a) you will not have any further use of or access to the Services, and (b) provisions of this Agreement that by their nature are intended to survive termination shall survive, including any payment obligations and provisions that allocate risk or limit liability.

15. Miscellaneous Terms

The Airwallex Consumer Service Agreement (including the Connected Account Terms and the product-specific supplemental terms below), together with all policies or agreements incorporated by reference constitute the entire agreement between you and Airwallex for the provision of Services. Our failure to exercise or enforce any right or provision of the Airwallex Consumer Service Agreement shall not constitute a waiver of our right to enforce the same right or provision on a future date. If any provision of the Airwallex Consumer Service Agreement is found to be illegal or unenforceable, that provision will be limited to the minimum extent necessary so that the Airwallex Consumer Service Agreement will otherwise remain in full force and effect. This provision shall not affect the severability and survivability provisions of the Arbitration Agreement.

16. Changes

We reserve the right to change the Airwallex Consumer Service Agreement at our discretion. We will take reasonable steps to inform you of any material changes before they become active. This notification may include publishing an announcement on the Airwallex Platform or sending an email to the address linked to your account. The amended Airwallex Consumer Service Agreement will take effect on the date specified. Your continued use of any Services after the effective date constitutes your acceptance of the new Airwallex Consumer Service Agreement. Should you not consent to the change, you must discontinue your use of the Services.

17. Governing law

California law will govern any claim or dispute between you and us that arises out of the Airwallex Consumer Service Agreement, regardless of conflict-of-law principles.

18. Assignment

You must not assign your rights or obligations under the Agreement to anyone without our prior written consent. We may assign our rights and novate our obligations under the Agreement at any time for any reason by providing notice to you.

19. Force majeure

Neither party will be responsible for any failure to fulfill any obligation for so long as the fulfillment of such obligation is impeded by a force majeure event, provided the party has notified the other party of the same.  

20. Contact

If you have a question or complaint about our Services, please contact us by calling 1-855-932-3331 or by writing to us at: Airwallex, 188 Spear Street, 9th Floor, San Francisco, CA 94105.

Connected Account Terms

Welcome and thank you for using Airwallex!

Our services consist of the “Airwallex Services” which are payment and other services provided to you under the General Terms set out above and any product-specific terms set out below (“Airwallex Agreements”).

Where we provide Airwallex Services to you via a third party “Platform Provider”, we additionally provide “Connected Account Services”, which facilitate your separate relationship with the Platform Provider by providing it with certain permissions over your account. These services are distinct from the “Platform Services” which are provided to you by the Platform Provider in accordance with a “Platform Agreement”, to which Airwallex is not a party. In such cases, these “Connected Account Terms” govern the use of our services by you and your Platform Provider. 

Together with the Airwallex Agreements, these Connected Account Terms form a legal agreement (known as the “Connected Account Agreement”) between the Airwallex entity relevant to your location (“Airwallex”, “our” and “we”) and you (“you” and “your”). You would have been provided with access to the relevant Connected Account Agreement through your Platform Provider during the sign-up process to become an Airwallex customer (alternatively, you may request access from either your Platform Provider or from us). You should read your Connected Account Agreement (including the Airwallex Agreements) which contains important terms, including in relation to limitation of liability, indemnities, warranties, confidentiality obligations, and governing law. Capitalized terms not defined here, have the meanings given to them in the applicable Airwallex Agreements. To the extent there is a conflict between the Airwallex Agreements and the Connected Account Terms, these Connected Account Terms will prevail. 

You should also download a copy of these Connected Account Terms and keep it for future reference or ask us for a copy at any time. You can always see the most current version of these and other terms (as well as the documents below) on our website www.airwallex.com.

1. Term and Termination

1.1. These Connected Account Terms apply once: (a) you have entered into a separate agreement with a Platform Provider; (b) the Platform Provider has completed its onboarding of you; (c) Airwallex has created an account for you; and (d) the Platform Provider has connected your account to its own account. 

1.2. These Connected Account Terms continue until either the Platform Agreement or the Connected Account Agreement is terminated in accordance with their terms. If you terminate the Platform Agreement, you must provide us with notice of this.

1.3. By continuing to use the Connected Account Services, you acknowledge and agree that you have accepted and agreed to the Connected Account Agreement, including any amendments.

2. Connected Account Services

2.1. The Connected Account Services consist of us performing services that will:

(a) enable us to credit funds received for your benefit to a virtual wallet (“Wallet”); and

(b) allow us to accept instructions from the Platform Provider to deduct fees or other amounts from your Wallet, where they are payable by you under the Platform Agreement.

2.2. You instruct us to: 

(a) share any data we collect relating to you and your account with the Platform Provider as necessary for us to provide you with Connected Account Services and/or for the Platform Provider to provide you with Platform Services; and

(b) process your data in accordance with our Global Privacy Policy.

2.3. You agree that the Platform Provider will be appointed as an authorized user of your account with the authority to:

(a) view information in, or related to, your account; 

(b) perform actions on your behalf;

(c) initiate transactions on your behalf; and

(d) provide information to us on your behalf.

2.4. Airwallex’s Wallet (provided pursuant to the Airwallex Agreements) enables holding, sending and receiving electronic funds. The specific types of transactions that you will be able to undertake via your Wallet will depend on your location, our agreement with the Platform Provider, and applicable law. For example, you may be able to convert between currencies, pay out funds to your own bank account, pay out funds to third parties, and/or spend funds via a linked card. The functionality that Airwallex offers in regard to your Wallet will be made clear within the product. 

2.5. You acknowledge and agree that:

(a) while you may be able to request additional functionality for your Wallet, the functionality made available to you is at Airwallex’s sole discretion, and is subject to change;

(b) you have authorized the Platform Provider to provide instructions to us as regards funds due to, or payable by, you relating to your use of the Platform Provider’s services;

(c) we have no obligation to notify you that we have received instructions from the Platform Provider, nor to confirm or verify such instructions with you, and we may rely completely on such instructions; and

(d) where you use the Payment Processing Service, payments made to you according to the Platform Provider’s instructions satisfy Airwallex’s obligation to make full and final payment to you, and release our obligation under the Airwallex Agreements to pay you Net Settlement Amounts.

3. Your responsibilities, representations and warranties

3.1. You must promptly provide us with any information (including, without limitation, customer due diligence information) that we may reasonably require from you from time to time so that we can perform the Connected Account Services and comply with our obligations under applicable law.

3.2. You represent and warrant that the information you provide us with is accurate, complete and up-to-date. 

3.3. You agree that we may suspend or terminate the Connected Account Services immediately if you fail to provide us with the information we request from you within two business days.

4. Fees

4.1. Airwallex’s standard fees for Airwallex Services are set out in our Fee Schedule, as available on our website (https://www.airwallex.com/us/terms/fee-schedule). However, we may have agreed with a Platform Provider that your fees will be different from those standard fees. If that is the case, your fees will be communicated to you by your Platform Provider. Airwallex’s fees are subject to change at Airwallex’s sole discretion. Airwallex charges fees in one of two ways:

(a) If fees are payable by you to Airwallex for your use of the Airwallex Services or Connected Account Services, they will either be disclosed to you within the product or in a Fee Schedule that is specific to your Platform Provider. Airwallex may rebate a proportion of the fees it charges you to the Platform Provider for its role in making Airwallex Services available to you.

(b) Alternatively, Airwallex’s fees may be charged to your Platform Provider. Your Platform Provider may either absorb these fees or charge you a consolidated fee for Platform Services, Airwallex Services and Connected Account Services. We do not control, and are not responsible for, fees charged by a Platform Provider. In the event of any queries about these fees, you must contact your Platform Provider. 

4.2. Airwallex may deduct from your Wallet both our fees and (at the request of the Platform Provider) the Platform Provider’s fees.

5. Processing and Sharing of Data

5.1. Our US Financial Privacy Notice (“Notice”) governs our privacy practices with respect to our processing of nonpublic personal information under the Gramm-Leach-Bliley Act (“GLBA”).   Our Global Privacy Policy (“Policy”) provides details about our information sharing practices with respect to data that is not public personal information regulated by the GLBA. In accordance with the Notice and Policy,  you acknowledge and agree that we and the Platform Provider may share your personal data between us, including personal data and transactional data for the purposes outlined in the Notice and Policy. 

5.2. The Platform Provider is an independent controller of your data and processes data in accordance with its applicable privacy policies Airwallex is not liable to you on account of the way in which Platform Provider may process your data.

6. Relationship to Platform Provider and Limitation of Liability

6.1. You acknowledge that Airwallex is not responsible for, and has no liability in relation to:

(a) any Platform Provider’s acts or omissions in providing services to you or your customers;

(b) your obligations to your customers or Platform Provider in relation to any goods or services you sell;

(c) your obligations to your customers to provide customer service, notify and handle refunds or consumer complaints; or

(d) your obligations to comply with applicable law, including to provide receipts, register your legal entity, report transactions or account for taxation.

6.2. In the event of a complaint or dispute between you and the Platform Provider, you must resolve the dispute directly with the Platform Provider in accordance with your Platform Agreement.

6.3. Notwithstanding section 6.2, if you use Airwallex’s Payment Processing Service, you are always financially liable to Airwallex for the full amount of all disputes (including chargebacks), refunds, and fines that arise from your use of the services, regardless of whether you have agreed to share this liability with the Platform Provider.

6.4. This section 6 is in addition to, and does not limit, the provisions of the Airwallex Agreements that disclaim or limit Airwallex’s liability.

Treasury Management Terms

These Treasury Management Terms (the “Terms”) are incorporated into the Airwallex Consumer Service Agreement between you and Airwallex US, LLC (“Airwallex”) and govern your access to and use of Airwallex payment and FX services directly provided by Airwallex (collectively, the “Payout Services”).

As used throughout these Terms, “website” refers to www.airwallex.com, our mobile site and application. The terms “you” or “your” refers to customers who register for, use or access the Services. The terms “we,” “us” and “our” refer to Airwallex. Please note that headings in these Terms are for reference only.

You hereby agree to these Terms, and any changes or modifications hereto, as part of the Airwallex Consumer Service Agreement. Undefined capitalized terms used in these Terms shall have the meaning ascribed to them in the Airwallex Consumer Service Agreement.

1. Relationship to Other Agreements

To the extent that there is a conflict between the Airwallex Consumer Service Agreement and these Terms, these Terms will prevail with respect to the Payout Services. Furthermore, to the extent that there is a conflict between any applicable Supplemental Terms and these Terms in relation to the Payout Services, the applicable Supplemental Terms will prevail.

2. The Services

2.1. Wallet. The ‘Wallet’ enables you to electronically hold, send and receive funds in the form of non-cash payments through the Airwallex Platform via supported payment methods. The funds in the Wallet can be in multiple currencies but only in the supported currencies that we offer, which may change from time to time. The funds in your Wallet may be used to make Payouts or FX Conversions in accordance with this Agreement. If you fund your FX Conversions via an external source (such as direct debit from your third party bank account), your Wallet will include a temporary clearing wallet where funds received from the external source will be held prior to conversion.

2.2. Global Account. The Global Account is a currency collection service where Airwallex will provide you with local bank account details in Supported Jurisdictions and supported currencies which you can provide to payors. A Global Account may be subject to Additional Terms for a Supported Jurisdiction. Subject to any Additional Terms, such bank account shall be opened in the name of Airwallex and any funds received into such account are received by Airwallex as your limited agent and you hereby appoint Airwallex as your agent for such purposes. You may submit a request to open a Global Account by logging on to the Platform and providing the necessary information, including any additional information that we may request. If advised by us, you may also be required to agree to additional terms and conditions. We will advise you of this requirement, if relevant, when you request to open a Global Account.

2.3 Collection Credentials. For each Global Account, we will issue, through our third-party banking partners, a unique account identification number, a bank routing number and other pertinent details (collectively, “Collection Credentials”) corresponding to the Global Account. Your Collection Credentials can be disclosed to payors (“Payors”) solely to enable inbound payments which will be credited to your Wallet balance. You may not disclose or otherwise use the Collection Credentials for any purpose other than to facilitate the use of our Services. Collection Credentials are for administrative purposes only and do not represent a separate bank account opened in your name. You must apply for and we must approve a Global Account for each supported currency denomination. You may not sell, transfer, sublicense, or disclose your Collection Credentials to any third party, other than a Payor. Collection Credentials are unique to you and must be protected and kept secure at all times. You agree to notify Airwallex immediately if you know of or suspect unauthorized use of your Collection Credentials. Airwallex may revoke your Collection Credentials immediately upon notice to you at any time for any reason in our sole discretion.

Important Information: To comply with Federal law to help fight the funding of terrorism and money laundering, all financial institutions are required to obtain, verify, and record information that identifies each person who requests or accesses a Wallet. When you open a Wallet, we will ask for your name, address, tax identification number, and other information or documentation that allows us to verify your identity.

3. Linked Bank Account and Debit Authorization

a. Linked Bank Account – You may link one or more bank accounts at an outside financial institution to your Airwallex Account to be used in connection with the Services (each such account, a “Linked Bank Account”), doing this enables Airwallex to receive information about the Linked Bank Account. You may only do this if you are the owner of, and authorized to initiate settlements and debits to and from, the Linked Bank Account. Upon validation by us, a Linked Bank Account may be used to add funds to your Wallet via ACH debit or to redeem funds from your Wallet.

b. Debit Authorization – With respect to a Linked Bank Account used in connection with our Payout Services, you hereby authorize Airwallex and its affiliates to debit your Linked Bank Account in accordance with the Direct Debit Authorization and as described in these Terms and the Airwallex Consumer Service Agreement.

4. Balance Information and Transaction History

The funds collected through a Global Account will be represented in your Wallet as part of the balance in each supported currency. There will not be a separate balance shown for funds collected through a Global Account. All of your transaction activity for your Airwallex Account is available by logging on to the Airwallex Dashboard. You are able to download periodic statements and a 24 month history of account transactions from that Dashboard. 

5. Receiving Funds

As described further below, funds may be added to your Wallet by you or by Payors. You cannot fund your Wallet using cash or checks. We cannot guarantee the use of any particular method and may change or stop offering a particular method at any time without notice to you.

You must ensure that all funds we receive in connection with the Services come from a legitimate source (for example, proceeds from the sale of goods and services) and otherwise comply with our Acceptable Use Policy. You agree to provide evidence of the funding source, if and when requested by us. You further represent and warrant that you are authorized to access and transmit funds made through any self-initiated transfers to your Wallet.

6. Third-Party Payor Funds Collection

If we have opened a Global Account for you, you may also receive from any Payor to which you have provided the Collection Credentials which will allow such Payor to send funds via ACH or domestic wire transfer. The number of methods made available to you for receiving money into your Global Account from a third party payor may vary on a number of factors including where you live.

Funds sent by a Payor will be credited to your Wallet upon receipt. You should check the incoming funds in your Wallet against your own records regularly and let us know if there are any irregularities. We are not liable for any inbound funds in transit to your Wallet until we receive such funds. Inbound funds must be received in a currency corresponding to an approved Global Account. Any attempted transfer of funds to your Wallet through an unsupported payment method or currency will be rejected and returned to the Payor. The payment and delivery of funds to your Wallet, including the timing of receipt of funds and the amount of funds delivered, is controlled solely by the Payor and may be subject to the Payor’s terms and conditions. Any issues or disputes with the delivery, non-delivery or timing of the delivery must be resolved directly with the Payor and is not the responsibility of Airwallex.

7. Adding Funds 

You may add funds to your Wallet by one or more methods, including bank transfer via wire or ACH transfer from an account at an outside financial institution or from your Linked Bank Account.

When loading funds to your Wallet, always ensure that you input accurate information, including relevant banking details or any unique transaction reference number specified by us. Failure to do so may result in a delay or inability to credit your Wallet. Please be advised that depending on the relevant currency, there may be monetary limits on the amount that may be added to your Wallet.

8. Currency Conversions

You can convert funds in your Wallet from one currency to another (a “Currency Conversion”). Converted funds can be held in your Wallet or simultaneously transferred as a Payout. The exchange rate applied to your Currency Conversion will be quoted when you book the Currency Conversion and/or Payout and will also be identified on your Confirmation. You may not manage multiple currencies for speculative trading purposes.

9. FX Limit Orders

You may request to book a FX Limit Order by specifying the desired FX exchange rate (“Target Rate”) and expiry date at the time of booking. Provided that you have sufficient funds in the source currency at the time the Target Rate is reached or exceeded by the exchange rate, Airwallex will execute the FX Limit Order under the same conditions as a Currency Conversion (“FX Limit Order”).

10. Redemption of Wallet Funds

a. Payouts. You can redeem funds held in your Wallet by transferring funds to yourself or a designated third-party recipient (each, a “Payout”). To book a Payout, log on to the Platform and you will be prompted to provide specific information concerning your Payout, including identification information of the recipient, recipient bank account information, the buy/sell currencies and the amount you wish to send. The methods available to you for making Payouts will vary depending on the Services provided by Airwallex to you and include ACH transfers, check payments and via the Card.

b. Recurring Payouts. You can make recurring Payouts.  To do this you will need to provide specific information including identification information of the recipient, recipient bank account information, the buy/sell currencies, the amount you wish to send and the desired frequency. You can stop or amend a Payout by logging into the Platform and telling us at least 3 business days before the Payout is due to be made. If you order us to stop a Payout 3 business days or more before it is scheduled, and we do not do so, we will be liable for your losses or damages.

c. Check Payouts. You may request to pay a third party by check. To request a check payment, log on to your Airwallex Account and enter the details for the designated recipient. Checks will be mailed to your designated recipient within 1-2 days. Funds will be deducted from your Wallet once the check is issued. You may request to cancel a check at any time before the check is cashed by the payee. If a payee fails to negotiate the check within ninety (90) days, we will stop payment on the check and re-credit your Wallet for the amount of the payment. If a check is returned to you prior to the end of the ninety (90) day period, please inform us immediately so that we can stop payment on the check and re-credit your Wallet. Any obligation you wish to pay using a check must be payable in U.S. dollars to a payee located in the United States.

d. Airwallex Card. If we have agreed to issue you or an Authorized User an Airwallex Borderless Card (“Card”) in connection with your Airwallex Account, you may use the Card to make Payouts from your Wallet. Your use of the Card will be governed by the Cardholder Agreement.

11. Withdrawing and Converting Funds

a. Instructions. When booking a Payout or a Currency Conversion, you must ensure that your instructions are correct and complete. Failure to provide accurate instructions, may result in delay or mis-delivery of funds. We will not be responsible for money sent to the wrong recipient as a result of incorrect instructions provided by you.

b. Confirmation. Upon submission of your instructions, you will receive a booking confirmation that details: (i) any applicable fees assessed on the Payout; (ii) the exchange rate applied to the conversion of funds (if applicable); and (iii) your instructions for delivery including recipient account information (the “Confirmation”). The Confirmation will be sent by email to the email address associated with your Airwallex Account. Please contact Customer Support if you do not receive a Confirmation. You should review the Confirmation carefully and notify us immediately if you identify any errors or if any information or instructions included on the Confirmation is incorrect. All Payouts are final upon receipt of Confirmation and cannot be canceled or amended unless otherwise required by law. The issue of a Confirmation means that the Currency Conversion or Payout is final and binding and cannot be canceled (other than in accordance with clauses below in these Terms). We will deduct the amount of your Currency Conversion or Payout from your Wallet immediately at the time we issue a Confirmation. You must ensure that there are sufficient funds available in your Wallet by the relevant time and date on which the relevant Confirmation is issued by Airwallex (the “Settlement Cut-Off”). Settlement means, in the context of Currency Conversions, the time when the buy amount is credited to your Global Account, and in the context of Payouts, the time when the Payout amount is debited from your Global Account.

c. Rejections, Cancellations and Delays. Unless otherwise required by law, we reserve the right to reject, cancel, delay or block any Payout for any reason including without limitation because: (i) providing Services to you or processing a particular Payout would constitute a violation of applicable law; (ii) you fail to provide adequate verification of your identity or the purpose of your Payout; (iii) you fail to provide any additional information requested by us; (iv) you provide false or misleading information; (v) we believe in our sole discretion that the Payout is unauthorized, fraudulent or inauthentic; (vi) you have insufficient funds in your Wallet in the relevant source currency to cover the full amount of the Payout (including any applicable Fees); or (vii) you are otherwise in breach of the Terms. Where there are insufficient funds for one or more Payouts at settlement cut-off time, Airwallex reserves the right to make the Payout at its discretion (for example, on a time basis, converting the earliest booked Payout up to the value of the funds available to Airwallex at the applicable settlement date or payment date). The remaining booked Currency Conversions will be treated as failed transactions, and Airwallex reserves the right to charge relevant break costs and administration fees in accordance with these Terms. We may impose daily or periodic limits on the amount of Payouts you may enter into.

d. No Negative Balance. You may not have a negative balance in your Wallet. If any transaction or charges (including any chargeback, reversal of a transaction, or deduction of fees) result in your Wallet falling below zero, you must immediately fund your Wallet to restore a positive balance. If you fail to remedy the negative balance, we may suspend use of your Wallet or refuse to provide the Services to you and deem you in default of the Agreement. We may also take reasonable steps to recover any amount owing to us (such as taking legal action or using debt collection services).

12. Exchange Rate

The exchange rate applied to your Currency Conversion will be quoted to you by an Airwallex affiliate when you book the Currency Conversion and/or Payout. The exchange rate quoted may change due to rapid market fluctuations and is not guaranteed until the conversion is finalized by an Airwallex affiliate. The final exchange rate will be identified on your Confirmation. You may access the indicative exchange rate for a Currency Conversion through the Airwallex Platform (“Rate”). The Rate will be quoted to you when you instruct us and the final exchange rate will be confirmed when we issue a Confirmation. We will ensure, as far as reasonably practicable, that the confirmed exchange rate reflects the rate quoted to you. The rate may be different as the rate may have changed between the time of your instruction and the time we issue the Confirmation. You agree that changes to exchange rates come into effect immediately without notice.

13. Holding Funds

Airwallex combines the balance of your funds with the balance of funds of other Airwallex customers and holds these pooled funds on your behalf and for your benefit and others holding balances in one or more depository institution accounts or permitted permissible investments we or our affiliates maintain under applicable law (each, a “Segregated Account”). You agree and understand that we hold your funds for your benefit in the Segregated Accounts as your agent and custodian. We will have sole discretion as to the maintenance and establishment of Segregated Accounts and you will not have any right to or be entitled to draw funds from any Segregated Account. Value held as a balance in your Wallet represents an unsecured claim against Airwallex and is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other deposit protection scheme.

14. Investment of Funds

We will invest funds from Segregated Accounts in permissible investments in accordance with state money transmitter laws. Airwallex owns the interest or other earnings on these investments, if any. All funds received for the benefit of consumers are held separately from corporate funds and will not be used for operating expenses or for any other business purposes. Additionally, Airwallex will not voluntarily make these funds available to creditors in the event of bankruptcy. You will not receive any interest or other earnings accrued on your balance or any other funds held in a Segregated Account. In consideration of your using our Services, you irrevocably assign to us all rights and legal interest to any interest or earnings attributable to holding your balance in a Segregated Account.

15. Reversals, Delays and Cancellations

a. Cancellation Request. We will honor your request to cancel or recall any Payout so long as the funds have not been dispatched or delivered to the intended recipient prior to receipt of your cancellation request. Cancellation requests may be submitted by contacting our Customer Support team at 1-855-932-3331. Refunds for eligible cancellations will be credited to your Wallet balance and made available for withdrawal as soon as practicable, but in no event later than as may be required by applicable law. Residents of certain states may have additional rights in relation to refunds, please visit our Licensing page for more information.

b. Canceling a Currency Conversion. After a Currency Conversion Confirmation is issued but before Settlement of the Currency Conversion, you may make a request to cancel a Currency Conversion (a “Cancellation Request”) as described in paragraph (a) above. Any delta between the exchange rate quoted in the Confirmation and the exchange rate applicable to a Reverse Conversion in furtherance of a Cancellation Request (“Cancellation Delta”) will be debited from or credited to your Global Account, as applicable. Reverse Conversion means an offsetting trade required to reverse the fixed side of the original Currency Conversion performed by Airwallex at the prevailing exchange rate in order to execute your Cancellation Request. If the Cancellation Request is made after Settlement Cut-Off, Airwallex may charge a fee for late cancellation. You may not withdraw, amend, or cancel a Cancellation Request after Airwallex has issued a confirmation of your instructions to Airwallex to cancel a transaction (a “Cancellation Confirmation”).

c. Canceling a Payout. You may request to cancel a Payout before Settlement of the Payout by making a Cancellation Request by contacting your Customer Support team. If a Cancellation Request is granted, Airwallex will issue a Cancellation Confirmation. Where the Payout has an associated Currency Conversion, any Cancellation Delta that arises from reversing the Currency Conversion will be debited from or credited to your Global Account, as applicable. You may not withdraw, amend, or cancel a Cancellation Request after Airwallex has issued a Cancellation Confirmation. If the Cancellation Request is made after Settlement Cut-Off, Airwallex may charge a fee for late cancellation.

d. Reversals and Delays. If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. Unless otherwise stipulated by applicable law, we may in our sole discretion reverse, cancel or delay a Payout or Currency Conversion in certain circumstances, including without limitation if: (i) we suspect that a transaction is fraudulent or unauthorized activity in relation to your account; (ii) we suspect that a transaction is in breach of this Agreement, our Acceptable Use Policy or applicable law; (iii) you are in default of this Agreement or any Terms with us; (iv) your Payout exceeds any applicable Currency Conversion limits; (v) a situation arises outside our reasonable control; (vi) the sender made a transfer to you by mistake or your account has been credited in error; (vii) the sender, or a relevant payment services provider, reverses a transaction or is likely to reverse a transaction; (viii) you have provided incorrect instructions for the transaction; or (ix) if required by applicable law. In no event will Airwallex be liable for any losses resulting from such delay. You may request to configure your account so that any reversed transaction that results in a refund to you is paid in the source currency or the target currency, if supported. If the refund requires a Currency Conversion, any difference between the exchange rate for the original transaction and the exchange rate applicable to a reversed transaction, will be credited to or debited from your Wallet, as applicable.

e. Default Rights. If you are deemed in default of these Terms, you will be responsible for any unpaid amounts owed to us as well as any losses resulting from such default, including losses resulting from unwinding a Currency Conversion which will be assessed as a break cost. More information regarding break costs is available upon request.

16. Unauthorized Transactions

You are advised to check the electronic record of transactions in your Wallet regularly. This is displayed in the Platform. You must contact us immediately by email to [email protected] to report any suspected or actual unauthorized transaction or other security concerns regarding the Platform. We must allow you to report an error until 60 days after the earlier of the date you electronically access your account, if the error could be viewed in your electronic history.

We may refund money you have lost if such loss is due to our mistake, fraud, or errors with your transaction. Whenever a transaction is reversed, Airwallex will refund or reverse the transaction from your Wallet in the same currency as the original transaction. 

Unless otherwise required by law or regulation, we will not be liable for unauthorized transactions that are caused outside of the direct control of Airwallex. In particular, but without limitation, we are not liable (and you will be solely liable for all losses) if you have: (i) acted fraudulently, (ii) with intent or gross negligence compromised the security of your Wallet or the Airwallex Platform or (iii) with intent or gross negligence failed to, comply with your obligations to use them in accordance with these terms, and to take all reasonable steps to keep all log-in information and passwords confidential and secure.

17. Airwallex Pay Service

You may instruct us to authorize and/or make Payouts to customers of Airwallex ("Airwallex Pay Service”) in connection with the purchase of goods and services.

(a) Currency Conversion. You may make Payouts through the Airwallex Pay Service in supported currencies. If your transaction is in a supported currency, the amount of your transaction shall be invoiced to you in that supported currency. If you do not have sufficient funds in the relevant supported currency, Airwallex may allow you to make a Currency Conversion before the Payout. We will not reverse such Currency Conversion if you receive refunds or other funds from reversed Airwallex Pay Transactions.

(b) Refunds. You will receive refunds from merchants in the same supported currency as your initial Payout.

(c) Authorization and Suspension. Payout through Airwallex Pay Service ("Airwallex Pay Transaction”) may require our authorization. We may in our reasonable discretion deny authorization and/or suspend your use of Airwallex Pay Service without giving you any notice, including (but not limited to) in circumstances where (i) you have not loaded sufficient funds to the Wallet, (ii) the requested transaction exceeds any transaction limit that we may set in connection with your use of Airwallex Pay Service from time to time; (iii) we suspect that there is fraud or a security issue; or (iv) we suspect that Airwallex Pay Service is being used for an illegal purpose. Before we authorize an Airwallex Pay Transaction, we may require you to confirm your identity by following certain steps specified by us. You acknowledge and agree that we are not liable to you or any other person for any loss suffered as a result of an authorization not being granted.

(d) Goods and Services. We are not responsible for, nor make any representations or warranties in respect of, the quality, safety, legality, or any other aspect of any goods or services that you purchase using Airwallex Pay Service. We are not liable for any loss arising from any merchant refusing to accept your Payout. Any complaints, claims or disputes about any goods or services purchased using Airwallex Pay Service must be resolved directly with the merchant concerned in the transaction. You are not entitled to withhold payment from us because of any unresolved complaint, claim or dispute with a merchant.

(e) Transaction limits. We may from time to time set transaction limits on your use of the Airwallex Pay Service, which may be on a per day or per transaction basis. We may also cancel or temporarily suspend your Airwallex Pay Transaction or Airwallex Pay Service with immediate effect by giving you written notice if we have reasonable grounds for suspecting that the security of your Airwallex Profile is compromised or you have breached these Terms.

(f) Reversal of Airwallex Pay Transaction.

(i) You may request to reverse Airwallex Pay Transactions in very limited cases such as fraud or manifest error. In such circumstances, you must make the request in writing to us and we shall determine, acting reasonably, whether to accept or reject the request. You may not request to reverse an Airwallex Pay Transaction on the basis of a dispute with the merchant about the related goods and services.

(ii) You must raise a reversal request to us within 120 days of the original Airwallex Pay Transaction and provide us with any information we ask for to support your request.

(iii) If we are satisfied after considering your request that you are entitled to partially or fully reverse the Airwallex Pay Transaction and are able to receive funds returned from the relevant merchants, the reversed amount will be credited to your Wallet in the original currency of the Airwallex Pay Transaction.

18. Fees

Any fees assessed on Payouts or Currency Conversions will be disclosed at the time you book a Payout and/or Currency Conversion prior to you confirming the transaction. Please be advised that the receiving bank may independently assess fees on a Payout. Airwallex is not affiliated with the receiving bank and therefore cannot provide any information on such fees. You should consult directly with your bank for information regarding the assessment of receiving or intermediary fees.

19. Use of Payout Services

You may not use the Payout Services for any illegal activities or any prohibited activities as described in the Acceptable Use Policy. 

20. Dormant Accounts

If funds remain in your Wallet for an extended period of time, they may be deemed “abandoned” or “unclaimed” by you under applicable state law. To the extent required by applicable law, we will attempt to provide notice to you prior to the expiration of the relevant dormancy period. If you fail to contact us upon expiration of the notice period, we will be required to deliver the unclaimed funds to the appropriate regulatory authority.

21. Liability and Dispute Resolution

You should carefully review Section 14 of the Airwallex Consumer Service Agreement, which includes provisions that limit liability between you and Airwallex with respect to matters arising from these Terms or the provision of the Payout Services.

Additionally, Section 16 of the Airwallex Consumer Service Agreement provides that any dispute, claim or controversy arising out of or relating to the Payout Services will be resolved by arbitration.

22. Modifications

We may modify these Terms at any time by posting a revised version on our website or by otherwise communicating such amendments to you. Any modification to these Terms will become effective upon posting or notice to you. You will be deemed to have accepted the modification if you continue to use the Services after the amended Terms have been posted. We may, at any time and without liability, modify or discontinue all or part of the Payout Services.

23. Termination

These Terms will automatically terminate upon termination of the Airwallex Consumer Service Agreement for any reason.

24. Complaints

If you have a question or complaint about our Payout Services, please contact 1-855-932-3331 or [email protected] or write to us at: 188 Spear Street, 9th Floor, San Francisco, CA 94105. Residents of certain states have the right to submit complaints. For additional information about your rights and ability to submit claims to a regulator, please see our Licensing Page.

Card & Spend Management Terms

Available separately

Long Form Fee Disclosure

Arbitration Agreement

For purposes of this arbitration agreement (the “Arbitration Agreement”), references to you or Airwallex also include respective affiliates, subsidiaries, employees, processors, suppliers, agents, successors and assigns as well as any other beneficiary of the Services.

a. Binding Arbitration. You and Airwallex agree that any Disputes, except for actions brought in small claims court or excluded as described below, shall be resolved exclusively through final and binding arbitration by a single neutral arbitrator and not in a court of law. “Dispute” means any claim, controversy, or dispute between you and Airwallex arising out of or relating in any way to this Agreement or your access to or use of the Services or of the Airwallex Platform, including, without limitation, any issue regarding the interpretation or validity of any provision of the Terms.  As an alternative to arbitration, (i) either party may bring an individual action that meets the jurisdictional qualifications in small claims court in your county of your business’ principal place of business, provided that the matter remains in small claims court and advances only on an individual (non-class, non-representative) basis; and (ii) you and Airwallex agree that Disputes based on the following claims are exceptions to the Arbitration Agreement and will be brought in a judicial proceeding in a court of competent jurisdiction: (1) any claim related to actual or alleged threatened infringement, misappropriation or violation of party’s Intellectual Property Rights; or (2) any claim seeking emergency injunctive relief or other provisional remedies.

b. Rules and Governing Law; Forum. Arbitration shall be administered by the American Arbitration Association (referred to as the “AAA”) in San Francisco, California, unless another location is required pursuant to the rules. The AAA’s rules will apply, except as modified by this Arbitration Agreement, and are available at www.adr.org. Notwithstanding any rules to the contrary concerning substantive law, you and Airwallex each agree that this Arbitration Agreement evidences a transaction in interstate commerce and thus the Federal Arbitration Act (9 U.S.C. §§1-16) will govern the interpretation and enforcement of this Arbitration Agreement. The arbitrator shall apply the substantive law of the State of California, without regard to its conflict or choice of law principles. If for any reason a Dispute proceeds in court rather than through arbitration, all such Disputes arising out of or relating to this Agreement (other than small claims actions pursuant to subsection (a)) will be brought in the state courts located in the City and County of San Francisco, or federal court for the Northern District of California. In such cases, you and Airwallex hereby consent and submit to the exclusive personal jurisdiction of such courts.

c. Initiation. A party who wishes to initiate arbitration must provide the other party with a request for arbitration (the “Request”). A Request to Airwallex should be sent either by mail to Airwallex, 188 Spear Street, 9th Floor San Francisco, CA 94105, Attn: Legal Department; or by email to [email protected]. A Request to you will be sent to your email address and/or street address that Airwallex has on file. It is your responsibility to keep your contact information up to date. The Request must include: (1) the name, telephone number, mailing address, e‐mail address of the party seeking arbitration and the account username and email address associated with any applicable account; (2) a statement of the legal claims being asserted and the factual bases of those claims; (3) a description of the remedy sought and amount in controversy in United States Dollars; (4) a statement certifying completion of the Informal Dispute Resolution process as described in subsection (d) below; and (5) evidence that the requesting party has paid any necessary filing fees.

d. Informal Dispute Resolution.  Prior to sending a Request, a party seeking to address a Dispute must provide written notice of the nature of the claim and relief and amount sought and we will meet and confer telephonically or via videoconference, in a good faith effort to resolve informally any Dispute covered by this Arbitration Agreement (“Informal Dispute Resolution Conference”). If we are unable to resolve the Dispute within 30 days, either party may send a Request and proceed to file a claim for arbitration with the AAA. Engaging in the Informal Dispute Resolution Conference is a condition precedent and requirement that must be fulfilled before commencing arbitration. The statute of limitations and any filing fee deadlines shall be tolled while the parties engage in the Informal Dispute Resolution Conference process required by this section.

e. Batch Arbitration. To increase the efficiency of administration and resolution of arbitrations, you and Airwallex agree that in the event that there are 100 or more individual Requests of a substantially similar nature filed against Airwallex by or with the assistance of the same law firm, group of law firms, or organizations, within a 30 day period (or as soon as possible thereafter), the AAA shall (i) administer the arbitration demands in batches of 100 Requests per batch (plus, to the extent there are less than 100 Requests left over after the batching described above, a final batch consisting of the remaining Requests); (ii) appoint one arbitrator for each batch; and (iii) provide for the resolution of each batch as a single consolidated arbitration with one set of filing and administrative fees due per side per batch, one procedural calendar, one hearing (if any) in a place to be determined by the arbitrator, and one final award (“Batch Arbitration”). All parties agree that Requests are of a “substantially similar nature” if they arise out of or relate to the same event or factual scenario and raise the same or similar legal issues and seek the same or similar relief. To the extent the parties disagree on the application of the Batch Arbitration process, the disagreeing party shall advise the AAA, and the AAA shall appoint a sole standing arbitrator to determine the applicability of the Batch Arbitration process (“Administrative Arbitrator”). In an effort to expedite resolution of any such dispute by the Administrative Arbitrator, the parties agree that the Administrative Arbitrator may set forth such procedures as are necessary for prompt resolution. The Administrative Arbitrator’s fees shall be paid by Airwallex. You and Airwallex agree to cooperate in good faith with the AAA to implement the Batch Arbitration process, including, without limitation, the payment of single filing and administrative fees for batches of Requests, as well as any steps to minimize the time and costs of arbitration, such as the appointment of a discovery special master or the adoption of an expedited calendar of the arbitration proceedings. This Batch Arbitration provision shall in no way be interpreted as authorizing a class, collective and/or mass arbitration or action of any kind, or arbitration involving joint or consolidated claims under any circumstances, except as expressly set forth in this provision.

f. Arbitration Fees. Payment of all filing, administration and arbitrator fees will be governed by the AAA’s rules, unless otherwise stated herein. You or Airwallex may be able to seek an award of attorney fees and expenses if you or we prevail in arbitration, to the extent provided under applicable law and the AAA rules. Unless the arbitrator determines that your claim was frivolous or filed for the purpose of harassment (as measured by the standards set forth in Federal Rule of Civil Procedure 11(b)), Airwallex will not seek and hereby waives all rights it may have under applicable law or the AAA rules to recover attorneys’ fee and expenses if it prevails in arbitration.

g. Arbitration Procedures. If the value of the relief sought is $10,000 or less, you or Airwallex may elect to have the arbitration conducted by telephone or based solely on written submissions, which election shall be binding on both parties subject to the discretion of the arbitrator to require an in-person hearing. In the event that an in-person hearing is held, you or Airwallex may attend by telephone, unless the arbitrator requires otherwise. The arbitrator will be either a retired judge or an attorney licensed to practice law in the state of California. If the parties are unable to agree upon an arbitrator within thirty-five (35) days of delivery of the Request, then the AAA will appoint the arbitrator in accordance with the AAA Rules, provided that if the Batch Arbitration process under subsection (e) is triggered, the AAA will appoint an arbitrator for each batch. The arbitrator shall have exclusive authority to resolve any Dispute, including, without limitation, disputes arising out of or related to the interpretation, scope, or application of the Arbitration Agreement, except for the following: (i) all Disputes arising out of or relating to the subsection (h) Class Action Waiver, including any claim that all or part of that subsection is unenforceable, illegal, void or voidable, or that that subsection has been breached, shall be decided by a court of competent jurisdiction and not by an arbitrator; and (ii) except as expressly contemplated in subsection (e) Batch Arbitration, all Disputes about the payment of arbitration fees shall be decided only by a court of competent jurisdiction and not by an arbitrator. The arbitrator shall have the authority to grant motions dispositive of all or part of any Dispute. Any settlement offer made by you or Airwallex shall not be disclosed to the arbitrator, unless and until the arbitrator issues an award on the claim. The arbitrator shall issue a written award and statement of decision describing the essential findings and conclusions on which the award is based, including the calculation of any damages awarded. The award of the arbitrator is final and binding upon you and us. Judgment on the arbitration award may be entered in any court having jurisdiction. An arbitrator’s decision or judgment thereon will not have any precedential or collateral estoppel effect.

h. Class Action Waiver. YOU AND AIRWALLEX AGREE THAT, EXCEPT AS SPECIFIED IN SUBSECTION (E) BATCH ARBITRATION, EACH OF US MAY BRING CLAIMS AGAINST THE OTHER ONLY ON AN INDIVIDUAL BASIS AND NOT ON A CLASS, REPRESENTATIVE, OR COLLECTIVE BASIS, AND THE PARTIES HEREBY WAIVE ALL RIGHTS TO HAVE ANY DISPUTE BE BROUGHT, HEARD, ADMINISTERED, RESOLVED, OR ARBITRATED ON A CLASS, COLLECTIVE, REPRESENTATIVE, OR MASS ACTION BASIS. ONLY INDIVIDUAL RELIEF IS AVAILABLE, AND DISPUTES OF MORE THAN ONE CUSTOMER OR USER CANNOT BE ARBITRATED OR CONSOLIDATED WITH THOSE OF ANY OTHER CUSTOMER OR USER. The arbitrator(s) may award relief (including monetary, injunctive and declaratory relief) only in favor of the individual party seeking the relief and only to the extent necessary to provide relief warranted by the individual party’s claim. Any relief awarded by an arbitrator cannot affect or impact any other Airwallex customer. Nothing in this paragraph is intended to, nor shall it, affect the terms and conditions under the subsection (e). If this paragraph is held unenforceable with respect to any Dispute, then the entirety of the Arbitration Agreement will be deemed void with respect to such Dispute. This subsection does not prevent you or Airwallex from participating in a class-wide settlement of claims.

i. Jury Trial Waiver. YOU AND AIRWALLEX HEREBY WAIVE ANY CONSTITUTIONAL AND STATUTORY RIGHTS TO SUE IN COURT AND HAVE A TRIAL IN FRONT OF A JUDGE OR A JURY. You and Airwallex are instead electing that all Disputes shall be resolved by arbitration under this Arbitration Agreement, except as specified in subsection (a) above. 

j. 30-Day Right to Opt Out. You have the right to opt out of (i) the provisions of this Arbitration Agreement or (ii) changes made to the Arbitration Agreement (but, in this case, not the provisions of the Arbitration Agreement to which you were previously bound) by sending written notice of your decision to opt out to: Airwallex, 188 Spear Street, 9th Floor San Francisco, CA 94105, within 30 days after first becoming subject to this Arbitration Agreement or receiving notice of material changes, as applicable. Your notice must include your name and address, the email address you used to set up your Airwallex account (if you have one), and an unequivocal statement that you want to opt out of this Arbitration Agreement or the changes, respectively. If you do not opt out, your continued use of the Airwallex Platform and/or Services constitutes your acceptance of this Arbitration Agreement or the changes, as applicable. If you opt out of this Arbitration Agreement, all other parts of these Terms will continue to apply to you. Opting out of this Arbitration Agreement has no effect on any other arbitration agreements that you may currently have, or may enter in the future, with us.

k. Severability, Expiration. With the exception of the provisions concerning Class Action Waiver (subsection (h)), if any other provision of this Arbitration Agreement is deemed invalid or unenforceable by a court of competent jurisdiction, such provision will be severed, and the remainder of the Arbitration Agreement shall be given full force and effect. You and Airwallex further agree that any Dispute must be initiated within the applicable statute of limitation for that claim or controversy, or it will be forever time barred. Likewise, you and Airwallex agree that all applicable statutes of limitation will apply to any arbitration in the same manner as those statutes of limitation would apply in the applicable court of competent jurisdiction.

l. Modification. Notwithstanding any provision in these Terms to the contrary, we agree that if Airwallex makes any future material change to this Arbitration Agreement, it will notify you. 

m. Confidentiality. You and Airwallex will keep confidential the existence of the arbitration, the arbitration proceedings and evidence, and the arbitrator’s decision, except: (i) each party may disclose as necessary to professional advisors that are subject to a strict duty of confidentiality; (ii) in connection with a court application for a preliminary remedy, or confirmation of an arbitrator’s decision or its enforcement; (iii) Airwallex may disclose the arbitrator’s decision in confidential settlement negotiations; and (iv) as Law otherwise requires.