Bank transfer - BETA

With Airwallex, you can accept bank transfers seamlessly by providing customers with a virtual bank account number. Customers can make payments directly from their banking apps or in person at a bank branch, giving them flexibility and control over their payment timing.

For your business, this means reduced collection costs and time-saving, as Airwallex automates reconciliation and refunds on your behalf.

This payment method is ideal for high-value transactions that do not require instant confirmation.

Airwallex has built a range of client-side integration methods that allow you to manage your UI, minimize your implementation effort, and allow you to get to market quickly.

You can accept a bank transfer payment in a few simple steps:

Step 1. Choose how to present bank transfer as a payment option—either as one of the available methods at checkout or directly on your invoice.

Step 2. Airwallex provides step-by-step instructions to guide your customers through the transfer process.

Each payment is assigned a unique transfer instruction link, which will be updated to reflect the latest payment status.

Airwallex will also send an email to your customer with the transfer instruction link for their reference.

Step 3. Your customers will need to initiate the transfer in their banking app or at an in-person bank branch after receiving the transfer instructions.

Step 4. Your customers need to enter the accurate account number, payment amount, and reference code.

Step 5. Once the funds are received, Airwallex automatically reconciles the transfers with your payments and confirms the payment statuses. We will also send an email to your customer to confirm the payment status.

Currently, bank transfers are only supported for local payments and do not work for international wire transfers (SWIFT). For example, to transfer USD, customers must send funds from a US bank account.

For cross-border payments, you can enable Automatic Currency Conversion (ACC) . This allows your customers to pay in their local currencies while ensuring you receive the full amount in your listing currency. Please note that ACC is only available with Hosted Payment Page and Payment Links.

When a customer transfers, you cannot control (1) the exact amount transferred and (2) the timing of the transfer. To help automate your reconciliation process, we offer the following settings. These settings apply to all bank transfer payments.

If you want to customize these settings, please contact your Account Manager. Note that any changes will apply only to future payments. Existing pending payments will follow the previous settings.

Underpayment An underpayment occurs when a customer transfers less than the expected amount. Customers can also make multiple partial transfers for a single payment. Airwallex will combine all transfers up to the expiry time to determine the final payment amount. You can choose one of the following options:

1. Accept funds after expiry time (default option): The payment is considered successful even if the received amount is lower than expected.
2. Always refund funds after the expiry time: The transferred amount will be returned to the customer automatically after the expiry time, without any action required on your end.

Overpayment

An overpayment occurs when a customer transfers more than the expected amount. You can choose one of the following options:

1. Refund the extra amount (default option): The payment is considered successful. We will settle the expected amount and refund the extra amount to your customer.

2. Credit the extra amount to the customer’s balance (coming soon): The payment is considered successful. Extra amount credited to customer balance can be used to offset future payments or refunded to the same customer.

Expiry time You can set a default expiry time using business days or calendar days.

• By default, the expiry time is 2 business days, with a maximum limit of 14 business days.
• If a transfer is made after the expiry time, Airwallex will automatically return the funds to your customer.

Email communication

Airwallex will send transfer instructions and any updates on transfer progress via email to your customers.

• You can turn off Airwallex emails and send your own emails instead.
• If you choose to send your own emails, please highlight the expiry time and specify how you will handle overpayments and underpayments.

By default, payments settle on T+1 business day.

This settlement schedule depends on:

• Transfer timing: Since the payer may not make the bank transfer immediately, T+0 refers to when your customer completes the transfer, not when the payment is created.
• Risk monitoring: All transactions are monitored by our risk engine. If a manual risk review is required, we will contact you for further details. Settlement will only proceed after the review is complete.

For refunds that are not fully automated:

To process a refund, Airwallex requires the customer's bank account number and account holder name. However, these details are not always available when the customer makes the transfer. In such cases, Airwallex will email the customer to request their bank account information and proof of transfer (e.g., a screenshot of the payment from their account). The refund process will begin once these details are received. Until all required details are provided, the refund request will remain in Received status.

In some cases, additional verification may be needed to ensure the funds are returned to the original sender. If further information is required, we will contact you before finalizing the refund.

Alternatively, you can transfer funds to customers from your business account. You will be responsible for collecting the necessary bank account details, and the transaction will not be recorded as a refund.