Frequently Asked Questions

Local currency accounts make it easy for you to conduct your business operations in multiple currencies. They come with account numbers and banking details that allow you to easily receive funds in specific currencies. This is particularly useful if you're a global business – you'll be able to collect funds in your international customers' preferred currency and then use those proceeds to pay local expenses in that same currency. By comparison, a regular transaction account may forcibly convert funds in and out of your home currency with every transaction, incurring costly FX fees in both directions.

Local currency accounts can be used to avoid unnecessary conversion fees and to save on everyday expenses. You can collect payments from your international customers in their preferred currency and then spend those proceeds later in the same currency (for example, to pay global suppliers and employees), thereby eliminating unnecessary conversion fees. You can also benefit from holding funds in a foreign currency until FX rates are favourable enough to convert these funds to your home currency.

Direct Debit payouts are now supported for USD, AUD, GBP, CAD Global Accounts located respectively in the United States, Australia, United Kingdom, and Canada. You can provide your Global Account details to pay both one-time and recurring bills such as taxes or utilities.

Yes, your funds are secure. Your money is safeguarded and held with leading financial institutions, ensuring compliance with local regulations in every market where we operate. Our modern infrastructure employs best-in-class security controls, monitored 24/7 to protect your account. Additionally, the platform adheres to the highest international security standards, including PCI DSS, SOCI, and SOC2 compliance, alongside meeting all local regulatory requirements. You can trust that we prioritize your financial security at every level.

By leveraging Airwallex's robust regulatory infrastructure, we ensure that our services comply with the highest legal and security standards, giving our customers confidence in the safety and reliability of their transactions. With over 60 financial licenses across various jurisdictions, including the European Union, the United Kingdom, the United States, and Asia-Pacific regions, you are fully covered.