How is GST charged for Online Payments transactions?

What is GST?

Goods and services tax (GST) is a broad-based tax on most goods, services and other items sold or consumed in each country.

Why am I being charged GST?

All of our Online Payment fees are quoted to be GST-inclusive. 

E.g. for Australia GST-inclusive means that on our 1.65% + AUD0.30 rates mentioned, 10% of that covers the GST requirement.

GST and non-GST transaction fees are charged on each transaction in real-time, providing you and your business with better cash flow.

How much, and how, am I being charged?

GST is calculated as% of each customer transaction, and will be deducted at the settlement of the transaction.

To find out your total Airwallex Online Payment fees and GST:

  1. Navigate to ‘Reports’ on the sidebar
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  2. Generate a Settlement Report for all currencies for the specified period
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  3. For your payment method fees, you will receive a Settlement Report where you can find the fee and tax breakdown within each line of “Payments”
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  4. For your fixed fees, you will receive a Fee Report in each settlement currency that summarises your total fees and GST (in that settlement currency)
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The GST amount is calculated in the settlement currency.

You will see this GST amount represented in your nominated local currency (e.g. AUD for Australian customers) on your statement.

Will I still be charged GST at the end of each month?

No, you will no longer be charged GST in your end-of-month invoice.

Instead, GST is charged when a customer transaction is settled in your Wallet.