International payment platform: Airwallex

We use Airwallex for the following transactions:

1. Paying overseas contractors (i.e. VA)

2. Staff debit cards

3. Paying overseas services in local currency (i.e. Facebook, active campaign etc.)

Account capabilities:

• Create accounts instantly

• Create accounts in the name of the business

• No transaction limits

Deposit methods:

• Domestic bank transfers: 0-1 day

• International SWIFT transfers: 0-3 days

• Monthly account limit: $2,000aud

1. Account name - DITCH INVESTMENTS PTY LTD

2. Bank account number - 612399283

3. BSB code - 013943

E: support@airwallex.com //  amrita.thapar@airwallex.com

Ph: 13 32 99 

Before you can make a transfer, first you have to setup a contact. To do the, follow the steps below:

Step 1: Navigate to contacts section of your account

Step 2: Click on 'New recipient'

Step 3: Choose on how you want to pay the recipient with the below information:

• Recipient type: business or personal account

• Bank country

• Account currency

• Payment method that support the chosen currency/country combination (info on processing time, payment fee, and payment limit will be shown)

Step 4: Put in all recipient information

Step 5: Click on 'Create recipient'

Once you have created the recipient, go back to the Transfers section

Step 1: On the 'Sending' side, choose the currency balance that you would like to make the transfer from (on our case, use Australian Dollar)

Step 2: On the 'Receiving' end, select the contact that you would like to transfer to (in our case, we use either PH Supplier or AU Company Bank Account)

Step 3: Input the amount the recipient will receive

Step 4: Review your payment details in the payment summary

• • Sending - the amount you will be sending in AU dollars

  • Client rate - the all-in exchange rate that will be calculated out (this shows the Airwallex rate and the client markup)

  • Converted amount

  • Payment fee

Step 5: On the Additional details side, input the following:

• Reference - where you input the invoice number

• Reason

• Payment date

• Request ID - user access management feature. This is optional

Step 6: Submit transfer for approval

• We could pay suppliers, staff, vendors etc. in their home currency via a direct bank transfer (Airwallex supports payouts in +130 currencies - here is our payout guide). 

• We can either convert funds at our rates (interbank + 0.3% or 0.6%) to pay them in their 'home' currency.

• We can use the currencies we already have available in our wallet to make the payments. 

• When sending payments via the 'Local Payment Method' there will be no additional charge apart from the cost of conversion, if applicable. 

• When sending payments via a payment method other than the 'Local Payment Method', an international payment fee will be charged. For example, sending USD to China via the SWIFT payment method = AUD$10. 

• If suppliers accept payment via debit card, we could use cards (create a card specific to a supplier if you like) to make those payment too.

• Step 1: Cards -> create card -> select employee card 

• Step 2: Enter the basic details and email for the user you created

• Step 3: Complete the ID check page with the cardholder information and create the cardholder

• Step 4: Set any limits and create the card

• Step 5: Success, only the cardholder will have access to the card

  • • If the cardholder status is ‘In review’ they should be active within 48 hours and can then start using their card. No need to do anything.

    • If the cardholder status is ‘Active’ then the cardholder can immediately use their card.

  • See further instructions HERE 

Business Blueprint has a great training series on how to use Airwallex