Airwallex Capital (Singapore) Pte. Ltd. (“Airwallex Capital”) is a company incorporated under the laws of Singapore with Unique Entity Number 202346393C. Airwallex Capital is a Capital Markets Services License holder under the Securities and Futures Act 2001 by the Monetary Authority of Singapore (License No. CMS101830). The MAS has not reviewed this information. For more details, you can refer to the MAS website here.
As both Airwallex (Singapore) Pte. Ltd. (“Airwallex SG”) and Airwallex Capital (Singapore) Pte. Ltd. (“Airwallex Capital SG”) share the Airwallex Platform, either entity could be providing the transaction, and which entity will be providing any given transaction will be made clear to you within the Airwallex Platform. That entity will be determined as follows. If the transaction is for settlement within 2 days of the request, this is considered a FX Spot Transaction and is provided by Airwallex Singapore. If the transaction is for settlement more than 2 days after the date of the request, this is considered a FX Forward Transaction (also known as a Scheduled Conversion) and is provided by Airwallex Capital SG.
How can I book a conversion for a future date?
To create a conversion for a future date, head to the Conversions tab of Airwallex’s Webapp. All images below are provided for illustration purposes only.
Step 1. Navigate to Conversions in the sidebar and select New conversion
The Conversions page is located under the Wallet section on the left-hand side menu. Select New Conversion in the top right of the page to start creating a conversion.
Please note that, to create conversions more than two days in the future, your company must first be onboarded to Airwallex Capital SG. To get onboarded, please contact your account manager.
Please also note that only users with the 'Create' permission under Conversions in User Management will be able to create a conversion. To manage user permissions, please refer to our User Role Management guide.
Step 2. Select From and To currencies and enter the amount to be converted
Select the currencies you want to convert between by clicking the “From” and “To” currencies to open a dropdown with available currencies.
Once you’ve selected the currencies you want to convert, enter the amount you want to convert in either the “From” or “To” field, and the corresponding amount in the other field will be generated automatically based on the current rate.
Step 3. Select the date you want to convert on
Enter the date you would like the conversion to be settled in the “Convert on” field. Once you have chosen a date, information about the required prepayment will be shown. The prepayment will be deducted from your available balance immediately, and the remainder amount will be deducted on the date of the conversion.
The maximum future date for a conversion is 365 days, although some currencies may be limited to earlier future dates.
The displayed exchange rate is dynamic and will automatically refresh at regular intervals.
Step 4. Review and confirm your conversion
When you select Next, you will need to review the conversion details before proceeding with the actual conversion. This page shows the conversion “From” and “To” amounts, the exchange rate, settlement date, prepayment amount, remainder amount and remainder amount due date. You will also need to confirm that the proceeds of your conversion will only be used for one of the permissible purposes.
Once you have verified the conversion details, select Confirm. Please note that if a confirmed Scheduled Conversion is cancelled, a charge for the change in the FX rate (Cancellation FX delta) may be deducted from the prepayment. In rare cases, if the charge is higher than the prepayment amount, the remaining amount may be deducted from the Wallet balance.
What to expect after you create the conversion
After you confirm the conversion, you will be able to view the transaction details in the Conversions page. The conversion will be listed as Scheduled until the actual scheduled conversion is executed. By clicking on the selected transaction, you will be able to see the full details of the conversion and the prepayment amount.
You can see the details of your prepayments on the Wallet page.
In the from currency cash balance page you’ll be able to see the prepayment amount that you’ve made, as well as the upcoming conversion details. While the Scheduled Conversion is in Pending status, the prepayment amount is held by Airwallex Capital SG. On the conversion date, the prepayment will be automatically credited back to your wallet balance and we will thereafter automatically deduct the full conversion amount from your wallet balance, to simplify your accounting and reconciliation process.
Please note that, if you decide to cancel a future-dated conversion later, there may be an additional deduction called Cancellation FX Delta.
A Cancellation FX Delta applies if the exchange rate has changed since the original conversion was booked. It is the cost of cancelling the original conversion at the current market rate. In most cases, this amount will be negative and deducted from the prepayment. In the unlikely event that the prepayment is not enough to cover the full amount, the remaining balance will be charged to the Wallet balance.