Airwallex Sign-up Promotion

Validity period: till 31 Dec 2024

Open a FREE Airwallex business account today via the exclusive sign up link and enjoy 3% cashback on eligible card spends, capped at $300. Terms and conditions apply.

Start winning new markets today. Open an account in minutes, and join thousands of businesses already using Airwallex to streamline their finances globally.

Whether you’re a local business that is looking for a cost-effective solution to pay for your overseas vendors or employees, or a global business looking to save time and money when collecting payments from different markets and currencies, Airwallex’s leading technology can help you get there.

• Sign up with Airwallex ❯

About Airwallex

Empowering modern businesses to grow beyond borders

Corporate Background

Over 100,000 companies around the world trust Airwallex’s software and APIs to simplify their global payments and financial operations, unlock new opportunities, and grow without limits. [2024]

Founded back in 2015 in Melbourne, Australia, Airwallex is a financial technology platform providing cross-border payments and financial services to businesses.

Over the years, Airwallex has grown to become a major player in this FinTech sector; and now employs over 1,200 people across 22 international offices, with its headquarters in Singapore.

Mission Statement

“With technology at our core, we build global financial infrastructure and applications to empower businesses to operate anywhere, anytime.”

Accolades

• honoured by CNBC-Statista as one of ‘World’s Top Fintech Companies’ [2023]
• named “FinTech of the Year” at Asia FinTech Awards [2022]
• named “Startup of the Year” in US FinTech Awards [2022]

Notable Partners

Singapore brands who work with Airwallex include:

• Dreamcore
• EU Holidays
  • Read: How EU Holidays boosted profit margins with Airwallex’s financial technology
• Igloohome
• Saturday Club
  • Read: How Saturday Club sells globally from Singapore with Airwallex

Is Airwallex regulated in Singapore?

Airwallex (Singapore) Pte. Ltd. is licensed in Singapore as a Major Payment Institution (license number PS20200541) and is regulated by the Monetary Authority of Singapore (MAS). Customer funds are safeguarded as required by MAS.

As published in their FAQ portal, Airwallex is also licensed in the other jurisdictions that it operates in.

How does Airwallex keep customer funds safe?

The funds you deposit into an Airwallex business account are held at a client segregated trust account, a ring fenced account that ensures funds are held in trust on your behalf.

This separately held money is not available to Airwallex’s creditors or third parties. That means that whenever you wish to withdraw money or make a payout from your Airwallex account, that money will be available to you.

In the unlikely event of Airwallex ceasing business operations or going into insolvency, liquidation or bankruptcy, your funds will be safely set aside in the safeguarding account, and you will receive them back in priority to all Airwallex’s creditors.

How SMEs can benefit from Airwallex’s services

• Multi-currency capabilities: Airwallex’s Global Accounts let SMEs hold, receive, and pay in foreign currencies. When an SME receives customer payments in a local currency, they can use the same funds to pay a supplier in that currency, which avoids unnecessary conversion fees.
• Currency conversion: Airwallex offers access to interbank rates, giving SMEs a cost-effective way to convert currency.
• Corporate cards and employee reimbursements: The Airwallex Borderless Card is a multi-currency debit card available in virtual and physical forms, and can be issued instantly for FREE. Employees can submit claims through the app, and managers can track expenses per employee and even set custom limits to restrict spending.
• Batch payments for vendors and bills: SMEs looking to pay overseas vendors and bills can save time with Airwallex’s Bill Pay feature. Simply upload your invoices, and Airwallex will automatically extract all relevant data. You can even automate your account reconciliation by integrating Airwallex into Xero, Quickbooks, and other bookkeeping software.
• Accepting global eCommerce payments: Airwallex’s all-in-one platform includes a Payment Gateway with like-for-like settlement. This means you can accept and hold payments in multiple currencies, without unnecessary conversion into SGD. Airwallex’s Payment Links allows businesses to generate and share a secure link with customers, allowing them to easily make payments online.

Special mentions: ‘Airwallex for Startups’ programme

Airwallex has introduced its ‘Airwallex for Startups’ programme in Singapore, which aims to assist startups with growth and scaling.

The programme provides startups with essential tools to manage finances effectively and fosters connections within the business ecosystem.

Participants in the programme can benefit from:

• six months of waived expense management fees,
• 3% cashback on Airwallex Borderless Cards
• up to S$20,000 in fee-free payments
• Google Cloud credits worth up to S$250,000
• up to three months of Xero subscription
• discounted HubSpot subscriptions.
• opportunities for networking with industry leaders and attending workshops on various topics, including artificial intelligence and customer relationship management.

As part of this launch, startups can apply for the S$10,000 Level-up Business Grant, designed to accelerate their growth.

Applications for the ‘Airwallex for Startups’ programme in Singapore are open until 31 August 2024.

Key features of the Airwallex business account

The Airwallex Global Accounts allows businesses to open currency accounts with unique account details around the world in 22 currencies including USD, GBP, EUR, AUD, CNY, HKD and CAD.

5-Minute Demo video:

No account maintenance fees

The Airwallex Global Account is FREE. Airwallex won’t charge you account opening fees, or maintenance fees, or require a minimum maintaining balance. It’s a cost-effective and efficient solution for expanding your reach while simplifying your operations.

Overseas transfers

When it comes to international payments, Airwallex combines low costs with fast transfer times.

Unlike traditional bank accounts, which rely on the SWIFT network for international transfers, Airwallex uses local payment rails on top of SWIFT. This means your foreign currency payouts are treated like local transfers. You don’t get charged international transfer fees, and funds arrive as quickly as one business day.

Cost-effective currency conversion

When SMEs convert currencies through Airwallex, they get access to interbank exchange rates - the competitive rate at which banks trade currencies with each other.

Historically, only large corporations could access interbank rates through legacy business banks. Today, access to these rates levels the playing field for small businesses and lets them compete more effectively in the global market.

Integrated financial services that automate your workflow

Airwallex has time-saving financial services like batch transfers, expense management, and integrations with Xero. These features automate manual tasks and simplify your financial operations, so you can spend less time on admin and focus on strategic initiatives.

Conclusion

Choosing a business account is critical for the success and scale of any SME. It should do more than streamline daily operations and help you cut costs. The right banking partner must align with your business’s growth trajectory and equip you with tools to get there.

In this context, Airwallex is a strategic choice for businesses poised for growth. By choosing Airwallex, you gain a partner that’s attuned to SMEs’ needs and offers technology to succeed in today’s fast-paced global marketplace.

Discover how Airwallex keeps pace with your aspirations. Open a Business Account today and enjoy 3% cashback on eligible card spends, capped at $300. Terms and conditions apply.