Review direct debit mandate requirements

The use case and front-end experience must be reviewed and signed off by both Airwallex and our local banking partner before you can process any transactions.

To add funds to their connected accounts via BECS direct debit, your customers must first link their Australian external bank accounts based on the requirements mentioned in the previous section.

The owner of the external bank account must agree with the Direct Debit Request Service Agreement (“DDRSA”) . They may do so by submitting a Direct Debit Request (“DDR”, see below), which gives Airwallex a mandate to debit the account. While we do not expect this to occur frequently, if and when the DDRSA is changed, you must ask the owners to update their agreements to the updated version. A copy of the signed DDRSA will be sent by Airwallex via email to the bank account owner, and is stored and made available to be shared with the customer at all times.

When building your native scale experience for your connected account customers, you can create an online form, served over HTTPS, for online mandate acceptance. Please ensure that:

• On the same form, you ask the external bank account owner to enter their (or display their previously entered) bank account name, BSB code, and bank account number.
• The DDR is displayed, in its entirety, for the customer to sign off at the time of submitting the linked bank account for setup.
• The DDRSA is provided to the customer, either in line or in a linked page, exactly as shown.

Failure to comply with BECS Rules will result in disputes, return fees, and reversed transactions that you will be responsible for.

Direct Debit Request

This Direct Debit Request (DDR) enables you to link your bank account with Airwallex for direct debits. By submitting this Direct Debit Request, you agree to the Direct Debit Request Service Agreement (“DDRSA”) and authorize Airwallex, through its own financial institution, to debit your nominated account through the Bulk Electronic Clearing System (BECS) any amount and frequency specified by you. You also confirm that you have the authority to link the nominated account.

The use case and front-end experience must be reviewed and signed off by Airwallex before you can create any direct debit mandates or process any transactions.

To add funds to their connected accounts via ACH direct debit, your customers must first link their United States external bank accounts based on the requirements mentioned in the previous section.

Before any ACH direct debit is processed, the owner of the external bank account must authorize Airwallex to directly debit the account on your behalf, in compliance with the NACHA Rules. A copy of the authorization will be sent by Airwallex via email to the bank account owner, and is stored and made available to be shared with the customer at all times.

When building your native scale experience for your connected account customers, you can create an online form, served over HTTPS, for online ACH authorizations. Please ensure that:

• On the same form, you ask the external bank account owner to enter their (or display their previously entered) bank account name, ACH routing number, and account number.
• The following text is displayed on the same form:

You authorize Airwallex US, LLC ("Airwallex"), on behalf of [AIRWALLEX PLATFORM CUSTOMER], and, if applicable, [AIRWALLEX PLATFORM CUSTOMER]’s affiliated entities ("Merchant"), to debit the bank account specified above for any amount owed for charges arising from your use of Merchant’s services and/or purchase of products from Merchant, pursuant to Merchant’s terms, and, if necessary, to electronically credit your bank account to correct erroneous debits, until this authorization is revoked.

If you use Merchant’s services or purchase additional products periodically, pursuant to Merchant’s terms, you authorize Airwallex to debit your bank account periodically. Payments that fall outside of any regular debits authorized above will only be debited after your authorization is obtained.

You may amend or cancel this authorization at any time by providing 30 (thirty) days' notice to Airwallex prior to the scheduled debit. You may provide such notice to Airwallex by contacting support@airwallex.com.

The use case and front-end experience must be reviewed and signed off by both Airwallex and our banking partner, Modulr Finance, before you can process any transactions.

To add funds to their connected accounts via Bacs direct debit, your customers must first link their United Kingdom external bank accounts based on requirements mentioned in the previous section.

The owner of the external bank account must agree with the Direct Debit Guarantee, displayed and signed according to UI guidance that will be shared by your relationship manager. You are also required to send the bank account owner a setup confirmation email after the Linked Bank Account is created, and an advance notice email 3 business days before each debit: both are available to you as white-labeled solutions.

Before any Bacs direct debit is processed, the owner of the external bank account must authorize Airwallex to directly debit the account on your behalf by agreeing to the Bacs Direct Debit Guarantee. A copy of the agreement will be sent by Airwallex via email to the bank account owner, and is stored and made available to be shared with the customer at all times. An advance notice email will also be sent 3 business days before each direct debit’s collection date.

When building your native scale experience for your Connected Account customers, you can create an online form, served over HTTPS, for online Bacs agreements. Please ensure that:

• On the same form, you ask the bank account owner to enter their (or display their previously entered) bank account name, sort code, account number, and e-mail.
• Display “Airwallex” as the name that will show up on the bank statement, and a checkbox or similar mechanism for the bank account owner to confirm that they are authorized to set up Direct Debit payments on the account.
• The Direct Debit Guarantee is provided to the customer, either in line or in a linked page, exactly as shown and with the Direct Debit Guarantee logo included:

Direct Debit Guarantee

The Guarantee is offered by all banks and building societies that accept instructions to pay Direct Debits. If there are any changes to the amount, date or frequency of your Direct Debit, Airwallex (UK) Limited will notify you 3 working days in advance of your account being debited or as otherwise agreed. If you request Airwallex (UK) Limited to collect a payment, confirmation of the amount and date will be given to you at the time of the request. If an error is made in the payment of your Direct Debit, by Airwallex (UK) Limited or your bank or building society, you are entitled to a full and immediate refund of the amount paid from your bank or building society. If you receive a refund you are not entitled to, you must pay it back when Airwallex (UK) Limited asks you to. You can cancel a Direct Debit at any time by simply contacting your bank or building society. Written confirmation may be required. Please also notify us.

After signing the agreement, you must also display a confirmation screen for the bank account owner to check their details, including:

• The following wording or something to a similar effect: “This is the Instruction to your bank or building society to pay by Direct Debit. Please check these details are correct before selecting Confirm below. You can go back to make changes, or cancel the setup.”
• The previously entered bank account name, sort code, account number, e-mail, and phone number.
• “Airwallex” as the name that will show up on the bank statement and a Reference number.
• The Direct Debit Guarantee is provided to the customer, either in line or in a linked page, exactly as shown and with the Direct Debit Guarantee logo included.
• Contact information to customer support, and an option to cancel the Instruction.
• Optionally, you may also choose to display Airwallex’s Service User Number, the Bank or Building Society name, and the customer’s address.

The use case and front-end experience must be reviewed and signed off by Airwallex before you can process any transactions.

To add funds to their connected accounts via SEPA Core direct debit, your customers must first link their Europe (SEPA) external bank accounts based on the requirements mentioned in the previous section.

Before any SEPA direct debit is processed, the owner of the external bank account must authorize Airwallex to directly debit the account on your behalf, in compliance with the SEPA Core Rules. A copy of the authorization will be sent by Airwallex via email to the bank account owner, and is stored and made available to be shared with the customer at all times.

When building your native scale experience for your connected account customers, you can create an online form, served over HTTPS, for online SEPA authorizations. Please ensure that:

• On the same form, you ask the external bank account owner to enter their (or display their previously entered) bank account name and IBAN.
• The following text is displayed on the same form:

Direct Debit Mandate

By signing this mandate form, you authorise (A) Airwallex (Netherlands) B.V. to send instructions to your bank to debit your account and (B) your bank to debit your account in accordance with the instructions from Airwallex (Netherlands) B.V.. As part of your rights, you are entitled to a refund from your bank under the terms and conditions of your agreement with your bank. A refund must be claimed within 8 weeks starting from the date on which your account was debited. Your rights are explained in a statement that you can obtain from your bank.

The use case and front-end experience must be reviewed and signed off by Airwallex before you can process any transactions.

To add funds to their connected accounts via EFT direct debit, your customers must first link their Canada external bank accounts based on the requirements mentioned in the previous section.

Before any EFT direct debit is processed, the owner of the external bank account must authorize Airwallex to directly debit the account on your behalf, in compliance with the Payments Canada Rules. A copy of the authorization will be sent by Airwallex via email to the bank account owner, and is stored and made available to be shared with the customer at all times.

When building your native scale experience for your connected account customers, you can create an online form, served over HTTPS, for online EFT authorizations. Please ensure that:

• On the same form, you ask the external bank account owner to enter their (or display their previously entered) bank account name, institution number, transit number, and account number.
• The following text is displayed on the same form:

Pre-authorized Debit (PAD) Agreement

Withdrawal Authorization: The Payor (“you”) authorizes Airwallex (Canada) International Payments Limited (“Airwallex”) to initiate debit entries to the account specified (the “Payment Account”), or any other account authorized by you at any institution that is a member of Payments Canada, all in accordance with this PAD Agreement. You confirm that you have authority under the terms of your Payment Account agreement to authorize this debit arrangement. If this PAD Agreement is for a business Payment Account, you confirm that you have the authority to bind the business. By authorizing this PAD Agreement, you acknowledge having received and read a copy of this PAD Agreement, including the terms contained herein; you acknowledge that you understand the terms of this PAD Agreement; and you agree to be bound by the terms of this PAD Agreement.

Waiver of Pre-notification and Confirmation: The Payor waives any and all requirements for pre-notification or confirmation of any and all such debits. Without limiting the foregoing, you acknowledge that no notice is required for the amount of any PAD (if variable) or changes to the amount of any PAD when the debit of such amount or change in such amount occurs as a result of direct action and/or specific authorization by you (for example, as contemplated under the heading "Timing / Specified Event" in Part C above).

Changes to Payment Account: If you change the Payment Account, this PAD authorization will apply to the new account and you shall provide us in writing such information regarding the new account as we deem necessary. Such new account shall thereafter be and become the “Payment Account” for the purpose of this PAD Agreement. It may take us up to 30 business days after receipt of a written notice from you to reflect in our system any change to the Payment Account. If you change the Payment Account, you agree that you are responsible for all costs incurred by us in connection with your decision to change the Payment Account.

Change of Other Information: If you change your email address, physical address or any other profile information, you must promptly update your profile on our website and/or provide us with the updated information. We have no responsibility for notices or other information sent to an incorrect address.

Cancellation of PAD Agreement: You may revoke, change, or cancel your authorization under this PAD Agreement this PAD authorization upon thirty (30) days’ prior written notice to us. You may obtain a sample cancellation form, as well as further information on your right to cancel a PAD authorization by contacting your financial institution or by visiting www.payments.ca.

Upon providing a notice of cancellation or revocation of authority or cancellation or termination of the terms of service or any other agreements under which Airwallex provides products or services to you (the “Airwallex Agreements”), Airwallex will cease issuing PADs in accordance with the termination provisions of the Airwallex Agreements and Rule H1 under the CPA.

Recourse/Reimbursement: You have certain recourse rights if any debit does not comply with this PAD Agreement. For example, you have the right to receive reimbursement for any debit that is not authorized or is not consistent with this PAD Agreement. To obtain more information on your recourse rights, you may contact your financial institution or www.payments.ca.

Payment Service Provider: In some cases, we are acting as a payment service provider to a Payee and not as the Payee. In such cases, we will be providing any funds debited from the Payment Account to the Payee pursuant to the terms of the Airwallex Agreements and any agreement we may have with the Payee for our provision of payment services to the Payee.

Contact Us: If you wish to make enquiries, obtain information, cancel this PAD Agreement or seek recourse with respect to any PAD, you may contact us at support@airwallex.com.