Airwallex for Startups - Terms & Conditions

These terms and conditions ('Terms’) apply to your participation in the “Airwallex for Startups” (‘Promotion') operated by Airwallex (Singapore) Pte. Ltd. (‘Airwallex’, ‘us’, ‘our’ or ‘we’).

By participating in the Promotion and/or receiving Cashback, you (‘you’ or ‘your’) acknowledge and agree to these Terms.

Who is eligible to participate in the Promotion?

You are eligible to participate in the Promotion and become an eligible customer  (‘Eligible Customers’) if all of the following requirements are satisfied:

• you are a company incorporated in Singapore with a valid business registration certificate;

• you are not an existing customer of Airwallex and/or its affiliates at the time of enrolling in the Promotion;

• you have enrolled in the Promotion through the dedicated campaign page for the Promotion during the Promotion Period (as defined below); and

• you have signed up as a new customer of Airwallex and you have been onboarded by Airwallex following the satisfaction of all requirements from Airwallex (including the onboarding Know Your Customer (KYC) requests) during the Promotion Period.

• You are an incorporated entity and plan on applying to participate in an accelerator, or have received seed or Series A+ funding.

Airwallex reserves the right to refuse any Eligible Customer from participating in the Promotion for any reason and without any prior notice.

What is the Promotion Period? 

This Promotion commences on 19 June 2024,10:00 SGT, and ends on 31 December 2024, 23:59 SGT, unless extended or shortened by Airwallex.

What is the Promotion? 

Eligible Customers will be entitled to receive the following benefits:

1. Cash rebate ('Cashback') in Singapore Dollar ('SGD') equal to three (3) percent of the amount of Eligible Transactions. Each Eligible Customer can enjoy Cashback for a period starting from the date of its receipt of the Account Activation Email ('Account Activation Date') until the end of the second calendar month immediately following the Account Activation Date ('Cashback Period'). Each Eligible Customer can enjoy Cashback up to a maximum amount of SGD 150 in each calendar month, and a maximum total amount of SGD 300 during the Cashback Period.

2. Free Expense Management for your co-founders and access to Airwallex Reimbursements for your employees for 6 months.

3. Payment method fee waiver for the first S$20,000 collected with Airwallex’s Online Payments Services.

How is the Cashback calculated by Airwallex?

3% cashback on all local and international card transactions

For international transactions, the Cashback will be calculated in the transaction currency. If the transaction currency is not the same as your billing currency, the Cashback will be converted at the prevailing FX Exchange Rate (as defined in our Payout and FX Terms) into your billing currency on the last date of the relevant month when the international transactions took place, before it is credited to your account.

Fee Waivers

During the Promotion, the following fee waiver conditions apply:

• The fee waiver for the first $20,000 SGD worth of payment acceptance applies to Payment Method Fees for Cards and Local Payment Methods only (see our Fee Schedule for further details), and will be provided in the form of monthly rebates after you have enrolled in the Promotion campaign through the link.

• Expense Management fees are rebated per calendar month for a maximum of three (6) calendar months after account activation. Each card must make one transaction per calendar month to qualify.

When will you receive the Cashback?

The applicable Cashback will be credited to your Airwallex account within 60 days after the date of the Eligible Transaction. You will not be entitled to the Cashback if:

(a) You close your Airwallex account before the Cashback has been credited; or 

(b) Your Airwallex account is not in good standing.

Is there any cost to participate in the Promotion?

Airwallex does not charge you to participate in the Promotion. Airwallex accepts no responsibility for any tax implications that may arise from your receipt of a cashback. You should seek independent financial advice on any potential tax impact of this Promotion on you.

What are some other restrictions you should know?

This Promotion is not available in conjunction with any other offers, discounts, packages or promotions, unless specified by Airwallex. This Promotion may be enjoyed in conjunction with the Spot Contract Cashback Promotion.

The eligibility of transactions for the purpose of the Promotion is determined by Airwallex in its sole and absolute discretion from time to time. Airwallex shall not be liable to determine the eligibility of any transactions before they are made by the Eligible Customer.

Eligible Transactions exclude transactions including but not limited to those expressly prohibited under and not supported by our Services pursuant to the terms as agreed with us and/or our Acceptable Use Policy and transactions of similar nature.

Eligible Transactions also exclude unposted, cancelled, suspended, refunded, unauthorized, chargeback transactions and any other transaction as designated by Airwallex from time to time.

Cashbacks in connection with the Promotion cannot be transferred, exchanged for cash or money. Airwallex reserves the right to reverse any Cashback that has been credited to you if the transactions are subsequently cancelled, suspended, frozen or refunded. Airwallex also reserves the right to debit the Cashbacks from your account without prior notice where any fraud, abuse or unlawful conduct has occurred.

Termination and changes

This Promotion expires on 31 December 2024, 23:59 SGT, unless extended or shortened by Airwallex. Your participation in the Promotion is not guaranteed and may be revoked at any time at Airwallex’s sole discretion in accordance with these Terms.

Airwallex, acting reasonably in its sole discretion, may at any time and without prior notice, cancel, suspend, or change the Promotion or any part of it. However, such discontinuation, suspension or change will not affect any Cashback that you have already validly earned as at the time of such discontinuation, suspension or change in accordance with these Terms.

Further, Airwallex reserves the right, at our sole discretion and to the fullest extent permitted by applicable law, to disqualify you from participating in the Promotion if we suspect that you are using (or enabling another entity to use) the Promotion in a fraudulent or unlawful manner or for a fraudulent or unlawful purpose or if you are in breach of any of these Terms or any of our terms and conditions you have agreed to with Airwallex, and cancel, suspend or change these Terms as appropriate to mitigate against further occurrences of such fraudulent or unlawful conduct.

If Airwallex reasonably believes that a change to any part of the Promotion will have a detrimental impact on you, Airwallex will provide you with fourteen (14) days’ notice of such change. You acknowledge and agree that such notice may be given to you via the Airwallex website, the Airwallex Webapp, and/or by direct electronic communications sent to your nominated electronic mailing address.

Privacy and Security

Any personal information that you disclose to us in connection with the Promotion will be handled in accordance with our Privacy Policy.

Contact

For further information about the Promotion or these Terms, please contact us at [email protected](Subject:Airwallex for Startups Promotion 2024)