This article aims to provide you with information regarding the settlement time for direct debit deposits into your Airwallex Borderless cash accounts. If you require a detailed guide on how to initiate a direct debit deposit, please refer to this guide.
How long does it take?
If you initiate a direct debit from your bank account to add funds to your Borderless cash account, it usually takes 0-4 business days for the funds to be accessible in your cash account balance. The exact duration may vary depending on the rules of the local direct debit scheme and the specified cutoff time.
Initiating PayTo in Australia
Initiating FPS direct debit in Hong Kong
Initiating eGIRO direct debit in Singapore
Initiating direct debit in New Zealand
Initiating ACH direct debit in the United States
Initiating PayTo in Australia
This feature is currently only available for customers with businesses registered in Australia.
PayTo settles 24/7 in real-time via the NPP clearing system.
Initiating direct debit in Australia
This feature is currently only available for selected customers with businesses registered in Australia.
Direct debit top-ups typically take approximately 3 business days to be credited to your account after initiation from your Airwallex account.
The cut-off time for direct debits is 4:00 pm AEST/AEDT. Therefore, any direct debits created after this time will be initiated on the following day. As a result, your direct debit will be cleared into your account at 4:00 pm AEST/AEDT on the 3rd day. In summary:
- If requested on a business day before 4:00 pm AEST/AEDT - 2 business days
- If requested on a business day after 4:00 pm AEST/AEDT - 3 business days
- If requested on a non-business day - 3 business days
However, your Australia Global Account supports deposits via NPP, which are instant. Therefore, if you would like to add funds quickly, you may want to send deposits into your Australia Global Account via NPP bank transfers.
Initiating FPS direct debit in Hong Kong
This feature is currently only available for customers with businesses registered in Hong Kong.
FPS direct debit settles 24/7 in real-time via the FPS clearing system.
Initiating eGIRO direct debit in Singapore
This feature is currently only available for customers with businesses registered in Singapore.
Amounts less than or equal to 200,000 SGD settle 24/7 in real-time via the FAST clearing system.
Amounts greater than 200,000 SGD go through the GIRO network and take 2-3 business days to settle, depending on the submission time as indicated below.
Initiating direct debit in New Zealand
This feature is currently only available for selected customers with business registered in New Zealand.
Direct debit top-ups typically take approximately 3 business days to be credited to your cash account after initiation from your Airwallex account.
The cut-off time for direct debits is 8:00 pm NZST/NZDT. Therefore, any direct debits created after this time will be initiated on the following day. As a result, your direct debit will be cleared into your account at 9:00 am NZST/NZDT on the 3rd day. In summary:
- If requested on a business day before 8:00 pm NZST/NZDT - 2 business days
- If requested on a business day after 8:00 pm NZST/NZDT - 3 business days
- If requested on a non-business day - 3 business days
The below illustration shows the timeline in business days from the time (T) that a direct debit is initiated from the Airwallex WebApp.
Initiating ACH direct debit in the United States
This feature is currently only available for customers with businesses registered in the United States.
It usually takes 2-3 business days for Airwallex to confirm the fund settlement result from Automated Clearing House (ACH) before we can reflect the direct debit amount in your cash account. It could take up to 4 business days for the funds to arrive.
Cut-off and settlement times vary depending on the amount and where you’ve been onboarded:
| Amount | 1 million USD and below | Above 1 million USD | ||
| Model | Airwallex-Evolve partnership | Airwallex MTL | Airwallex-Evolve partnership | Airwallex MTL |
| Cut-off time | 9:30 AM CST | 3:00 PM ET | 7:30 PM CST | 3:00 PM ET |
| Earliest settlement time if direct debit is requested on a weekday before cut-off time | The funds could reach your cash account 2 business days from the time of direct debit creation. | The funds could reach your cash account 3 business days from the time of direct debit creation. | ||
| Earliest settlement time if direct debit is requested on a weekday after cut-off time | The direct debit will be initiated on the next business day. The funds could reach your cash account as soon as 2 business days after that. | The direct debit will be initiated on the next business day. The funds could reach your cash account as soon as 3 business days after that. | ||
| If direct debit is requested on a weekend | The direct debit will be initiated on the following business day. The funds could reach your cash account as soon as 2 business days after that. | The direct debit will be initiated on the following business day. The funds could reach your cash account as soon as 3 business days after that. | ||
| Settlement time | 6:00 PM CST | 10:00 AM ET | 6:00 PM CST | 10:00 AM ET |
The below illustration shows the timeline in business days from the time (T) that an ACH direct debit is initiated from the Airwallex WebApp.