This guide will cover
- How to link and enable Direct Debit for a new Hong Kong Linked Bank Account
- How to enable Direct Debit for an existing, deposit verified, Hong Kong Linked Bank Account
- How to enable Direct Debit for an existing, micro-deposit verified, Hong Kong Linked Bank Account
How to link and enable Direct Debit for a new Hong Kong Linked Bank Account
Step 1. Link your Hong Kong bank account
1. Navigate to “Business Accounts” and click “Add funds”
2. Select the Borderless cash account you wish to add funds to
3. Select “With direct debit from a Linked Bank Account”
4. Select the bank account owner from the dropdown menu.
This includes the UBOs associated with your account that you have provided to Airwallex during onboarding. Please fill out the bank account details.
5. Direct debit authorisation
Note: If your bank does not support real-time FPS direct debit, you can skip this step and continue to step 6. Your bank account can still be linked to Airwallex but it will not have the ability to add funds via FPS direct debit.
As part of the Direct Debit Authorisation process, Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the bank account owner details are accurate, otherwise, we may fail to verify the account.
If you need to add an account owner or additional form of identification, you may contact support.
Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the Business identification type and number submitted on this screen matches with what’s on file with your bank.
6. Verify your bank account
Log in to your bank account and deposit to your Airwallex account by sending funds to the account details shown on the screen.
We will use the details contained in your deposit to verify that the bank account details match the ones you have provided. After verification, your Linked Bank Account’s status will become “Active” and you will receive a confirmation email.
Any funds received will be credited to your Airwallex wallet balance, regardless of whether the verification was successful.
We will send a copy of the Direct Debit Authorisation to the bank account owner’s email address, once the Linked Bank Account is verified and your bank confirms the identification information.
Note: Currently, if you make any changes to your Direct Debit Authorisation from your bank’s site or app, it will trigger the cancellation of the functionality of direct debit deposits from Airwallex. You will have to re-authorise direct debit.
Step 2. Add funds from Linked Bank Account using FPS direct debit
1. Go to “Business Accounts” and click “Add funds”
Select the Borderless cash account you’ve linked this bank account to, and hit “Direct debit from Linked Bank Account”.
2. Enter your desired amount
If your bank account supports both currencies, you will be able to add funds with both HKD and CNY.
Please be reminded that the amount you add is subject to a preset daily limit. To increase the preset daily limit, you can contact your Account Manager or our Support Team through our WebApp.
How to enable Direct Debit for an existing, deposit verified, Hong Kong Linked Bank Account
1. Navigate to “Business Accounts” and click “Add funds”
2. Select the Borderless cash account you wish to add funds to
3. Select “With direct debit from a Linked Bank Account”
4. Direct debit authorisation
As part of the Direct Debit Authorisation process, Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the bank account owner details are accurate, otherwise, we may fail to verify the account.
If you need to add an account owner or additional form of identification, you may contact support.
Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the Business identification type and number submitted on this screen matches with what’s on file with your bank.
Once your bank verifies the provided information, you will be able to add funds via Direct Debit. If your bank account supports both currencies, you will be able to add funds with both HKD and CNY.
How to enable Direct Debit for an existing, micro-deposit verified, Hong Kong Linked Bank Account
1. Navigate to “Business Accounts” and click “Add funds”
2. Select the Borderless cash account you wish to add funds to
3. Select “With direct debit from a Linked Bank Account”
4. Direct debit authorisation
As part of the Direct Debit Authorisation process, Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the bank account owner details are accurate, otherwise, we may fail to verify the account.
If you need to add an account owner or additional form of identification, you may contact support.
Airwallex will use your selected form of identification (previously associated with your account during onboarding) to establish the direct debit authorisation, and identification details will be verified by your bank. Please ensure that the Business identification type and number submitted on this screen matches with what’s on file with your bank.
5. Verify your bank account
Log in to your bank account and deposit to your Airwallex account by sending funds to the account details shown on the screen.
We will use the details contained in your deposit to verify that the bank account details match the ones you have provided. After verification, your Linked Bank Account’s status will become “Active” and you will receive a confirmation email.
Any funds received will be credited to your Airwallex wallet balance, regardless of whether the verification was successful.
We will send a copy of the Direct Debit Authorisation to the bank account owner’s email address, once the Linked Bank Account is verified and your bank confirms the identification information.
Note: Currently, if you make any changes to your Direct Debit Authorisation from your bank’s site or app, it will trigger the cancellation of the functionality of direct debit deposits from Airwallex. You will have to re-authorise direct debit.
Once your bank verifies the provided information, you will be able to add funds via Direct Debit. If your bank account supports both currencies, you will be able to add funds with both HKD and CNY.