Last updated: 28 December 2023

These terms and conditions (‘Terms’) set out the terms and conditions of your participation in the Airwallex Scoop Better FX Rate Offer (‘Promotion') operated by Airwallex (Singapore) Pte. Ltd. (‘Airwallex’, ‘us’, ‘our’ or ‘we’). These Terms shall form part of any applicable agreements (‘Customer Agreements’) governing the use of Airwallex’s Payout and FX services to you (‘Services’) and shall be construed accordingly. Capitalised terms used below shall have the same meaning given to them in the Customer Agreements unless otherwise defined in the Terms.

By participating in the Promotion, you 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’ 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 signed up for a live Airwallex demo session (‘Demo Session’) through a dedicated Airwallex landing page during the Promotion Period;
• you have provided documentary proof, to the satisfaction of Airwallex, of your transactions involving currency exchange (‘FX’) of USD20,000 (or equivalent) or more in aggregate for the Selected FX Conversions completed within 30 calendar days prior to the Demo Session;
• you have received a dedicated sign up link directly from Airwallex (‘Invitation Link’) to participate in the Promotion after the Demo Session;
• you have signed up as a new customer of Airwallex through the Invitation Link and you have been onboarded by Airwallex following satisfaction of all requirements from Airwallex (including the onboarding Know Your Customer (KYC) requests) thereafter (‘Onboarding’) during the Promotion Period;
• you have received an email confirmation from Airwallex that you have successfully secured the Promotion; and
• you have conducted Eligible Transactions.

Airwallex reserves the right to determine who it invites to participate in the Promotion.

What is being offered in the Promotion?

Eligible Customers are entitled to a discounted FX rate on Eligible Transactions within the period starting from the date of Onboarding until the earlier of (i) the end of the Promotion Period or (ii) 30 calendar days after the date of Onboarding. Airwallex will confirm the actual rate with the Eligible Customer in writing by email.

What are Eligible Transactions?

'Eligible Transactions’ means Payout and FX transactions of USD20,000 (or equivalent) or more in aggregate made by an Eligible Customer with its Airwallex account involving FX from SGD to any of AUD, NZD, EUR, JPY, GBP, CAD, HKD, CHF, CNY or USD (each a ‘Selected FX Conversion’) within the period starting from the date of Onboarding until the earlier of (i) the end of the Promotion Period or (ii) 30 calendar days after the date of Onboarding.

When is the Promotion Period?

‘Promotion Period’ means the period that commences on 31 August 2024, 00:00 Singapore time and ends on 31 December 2024, 23:59 Singapore time (both dates inclusive), unless otherwise notified by Airwallex. Each Eligible Customer is eligible to participate in the Promotion for a maximum of 30 consecutive days, or until 31 December 2024, whichever is earlier.

Is there any cost to participate in the Promotion?

Airwallex does not charge you any cost, fee or expense to participate in the Promotion.

What are some other restrictions you should know?

The Promotion is not available in conjunction with other offers, packages or promotions related to Airwallex’s Payout and FX services and/or products as may be launched by Airwallex from time to time, unless specified by Airwallex.

Any transactions conducted outside of or in breach of the Customer Agreements and/or the Acceptable User Policy shall not qualify as Eligible Transactions. Eligible Transactions also exclude unposted, cancelled, suspended, refunded, unauthorized transactions and any other transaction as designated by Airwallex from time to time.

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 for the Promotion before they are made by the Eligible Customer.

The Promotion is available on a first-come-first-serve basis for the first 5,000 Eligible Customers participating in the Promotion.

The Promotion cannot be applied or transferred to third parties or other accounts, or exchanged for any other gifts, returned or exchanged for other products or services.

Airwallex will not accept any liability if any information submitted by any third party service providers, network providers, software and applications to Airwallex has been delayed, lost, invalid or unidentifiable due to any technical problems of the computers or networks. For more details on this topic, please refer to the Customer Agreements.

No person other than the Eligible Customer and Airwallex (includes its successors and assigns) will have any right under the Contracts (Rights of Third Parties) Act 2001 to enforce or enjoy the benefit of any of the provision of these Terms.

Indemnification

The Eligible Customer shall indemnify, defend and hold harmless the Airwallex Group and its officers, directors, employees, advisors, agents, and subcontractors from and against any loss, damage or expense (including reasonable attorneys’ fees) incurred in connection with any claims, actions, demands, suits or proceedings made against the Airwallex Group by a third party or suffered by the Airwallex Group in connection with or as a result of the Eligible Customer’s breach of this Agreement, failure to comply with applicable law or the Eligible Customer’s use or misuse of the Promotion.

Termination and changes

The Promotion expires on 31 December 2024, 23:59 Singapore time, unless otherwise extended or shortened by Airwallex. Your participation in the Promotion is not guaranteed and may be revoked at any time in Airwallex’s sole and absolute discretion. Airwallex reserves the right to amend these Terms or cancel, suspend or amend this Promotion (or any part of it) at any time without prior notice. Should any disputes arise, the decision of Airwallex shall be final and conclusive.

For the avoidance of doubt, Airwallex reserves the right, at our sole and absolute discretion, to suspend or cancel offering the Promotion to you if we suspect that you are abusing or using 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 the Customer Agreements or any of our terms and conditions you have agreed to with Airwallex. During the Promotion Period, in case of (i) any fraud or abuse in respect of which the Promotion is offered or (ii) the Eligible Customer failing to complete the minimum amount of Eligible Transactions, Airwallex reserves the right to debit the equivalent amount of the difference between the actual FX rate offered in the Promotion and the relevant rate as set out in the fee schedule to our Customer Agreements from the Eligible Customer's Airwallex account without prior notice.

Eligible Customer is required to keep records of the relevant Eligible Transactions. In case of any disputes, Airwallex reserves the right to require the Eligible Customer to provide such records or submit relevant documents or proofs for verification purpose. Submitted documents or proofs will not be returned. The decision of Airwallex regarding the eligibility of relevant transactions shall be final and conclusive.

In case of any conflict between these Terms and Customer Agreements, these Terms shall prevail.

Privacy & security

Any personal information that you provide to us will be used in accordance with our Privacy Policy.

Governing law

These Terms are governed by and construed in accordance with the laws of Singapore.