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Direct Debit Authorization Agreement

Last updated: 6 December 2023

To use certain Payout Services, you must agree to authorize Airwallex and its Affiliates to debit your Linked Bank Accounts as described in the Treasury Management Terms. This Direct Debit Authorization (“Authorization”) constitutes your continual authorization to debit any Linked Bank Accounts in accordance with the Treasury Management Terms.

This Authorization is effective as of the date you accept this Authorization and shall remain in effect until canceled or revoked by you in accordance with the terms of this Authorization.

Capitalized terms not defined in this Authorization shall have the meaning ascribed to them in the Airwallex Service Agreement or Treasury Management Terms.

  1. Authorization

You hereby authorize Airwallex and its Affiliates to periodically debit your Linked Bank Account, as more fully described in the Treasury Management Terms, to: (a) credit or transfer funds to your Wallet; (b) collect any fees or other amounts owed to Airwallex or its Affiliates under the Airwallex Service Agreement or other agreement between you and Airwallex or its Affiliates; and, if necessary, (c) credit your Linked Bank Account to correct erroneous debits; in each case, until this Authorization is revoked.

  1. Microdeposits

To verify ownership of your Linked Bank Account, we utilize a microdeposit validation process whereby we will deposit a small sum in your Linked Bank Account (generally under 25 cents) and request confirmation from you of the exact amount(s) of such deposits. In addition, we reserve the right at any time to request additional information from you such as bank statements, a voided check or other documentation in order to verify ownership of the Linked Bank Account or your authority to access and authorize debits from the Linked Bank Account. If you fail to provide confirmation of the deposit amount within one business day, you will not be able to utilize direct debit.

  1. Confirmation of Authority

You hereby confirm that you are the only person required to authorize debits from the Linked Bank Account.

  1. Waiver

You hereby waive any prior notice requirements for Airwallex or its Affiliates to provide you with notice of a debit from the Linked Bank Account for any purpose described in this Authorization or the Treasury Management Terms including without limitation any notice concerning the amount to be debited, the dates on which the debit will processed or notice of future changes to the amounts or processing date.

  1. Amendment, Revocation or Cancellation of Authorization

You may amend, cancel or revoke this Authorization at any time by providing Airwallex thirty (30) calendar days’ prior notice. You may provide such notice by contacting Airwallex at [email protected]. You acknowledge that by revoking this Authorization, you may be required to close your Airwallex account and will no longer be provided with certain Airwallex Services. You further acknowledge that even if you cancel or revoke this Authorization, certain provisions of the Treasury Management Terms between you and Airwallex shall survive and remain in effect in accordance with their terms.

  1. Assignment

You acknowledge that Airwallex may assign this Authorization, whether directly or indirectly, by operation of law, change of control, or otherwise, by providing at least 10 days’ prior written notice to you.

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