Funding and settlement models

Prior to booking any conversion or payout, clients assigned to pre-funding mode must first top-up their Airwallex Wallet. The funds required for a conversion or payout are deducted from the relevant wallet balance and cannot exceed your available funds in the currency you are converting or paying out from.

Clients assigned to post-funding mode are permitted to book conversions and payouts without sufficient funds available in their wallet. These accounts will have a limit assigned to them, which will be the upper limit of unfunded transactions you can have open with Airwallex at any one time. For same-day conversions, we will fallback to your available balance in the sell currency if you have insufficient open position limit for the conversion.

When booking a conversion or payout with Airwallex, you will have the option to select the desired date for each transaction to settle. This “conversion date”, along with your funding mode, will determine when funds will be settled to and from your wallet.

If you do not select a date, you will be assigned a “default date”. For clients in pre-funding mode, the default date will always be same-day, for immediate settlement. For clients in post-funding mode, the default date will depend on your available wallet balance in currency you are converting or paying out from at the time of booking. If funds are sufficient, the conversion date will default to same-day, immediate settlement. If funds are insufficient, the default date will return the next valid business day, accounting for any holidays in the currency you are funding Airwallex with.

For clients in post-funding mode, if the wallet balance is insufficient on the conversion date, the Airwallex team will contact and notify clients regarding the overdue balance. This may incur a fee to cover the cost of processing the overdue transaction. We will settle conversions on a first-in first-out basis based on the conversion with the earliest conversion_date and sufficient balance, and then the earliest created_at. We will retry settlement every 30 minutes as batch.

The Airwallex location that you are onboarded with will determine your account time zone. We use the IANA Time Zone Database (TZDB) . Each Airwallex location has been assigned the following time zones: