Please refer to this quick video for a step-by-step guide:
What is a legal entity?
A legal entity is the business entity registered with your local jurisdiction. Legal entities are typically assigned a unique registration number (e.g. ABN in Australia, CRN in China and Hong Kong).
Do I have to go through additional KYC for a new account created under the same entity?
New accounts created under an existing legal entity will be immediately activated and ready to transact (you no longer have to submit KYC information for these accounts!).
Note, you will need to submit some supplementary materials to access our payment acceptance product for any new accounts created - please follow the instructions listed here.
Can I move an existing account to a different legal entity?
No, existing accounts cannot be moved to another legal entity.
Can I set up a new account under a new legal entity?
Yes, you can. You can create a new account by specifying a new legal entity via the Account Switcher interface on the Webapp and following the prompts to submit the relevant documents required to activate the account.
For more information, see here.
Is there a limit to the number of accounts that can be created under one legal entity?
There is no limit to the number of accounts you can create under the same legal entity.
Who can create a new account under an existing legal entity?
Only an ‘Account Owner’ can create a new account under an existing entity. User roles can be viewed under the User Management section on your Airwallex account.
Will accounts created by different users display on a common account switcher?
Each account created is independent and will not aggregate to a common account switcher view by default. If you would like access to an account created by another user, please contact the user to provide you with access.
Are accounts created under a legal entity separate from each other?
Yes, each account is separate. This means who has access to one account will not have access to the other accounts under that legal entity unless an admin has given them permission.
Can I transfer the funds across these accounts I create under one legal entity?
Yes, you can create an Account Group of the accounts you own under the legal entity. Then you can easily transfer the funds across the accounts within the group via the Aggregate funds feature. Learn more about Account Group.