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Closing Global Accounts

How to close Global Accounts

You can easily close your Global Accounts through the Airwallex WebApp in 4 steps:

  1. Navigate to Global Accounts in the sidebar
  2. Select the Global Account you want to close
  3. Click the ‘Manage’ button in the top right corner
  4. Select ‘Close account’

Please note: You will not be able to delete the default Global Account that was created for adding funds to your wallet.

As a shortcut, you can access the 'Close account’ feature directly from the Global Account table list by clicking the three dots ‘...’ button.

Once you close a Global Account, the Global Account status will appear as 'Closed' & the Global Account will be hidden from view in your Airwallex Global Accounts menu.

If you wish to view your closed Global Accounts, you can filter them by clicking the status dropdown and selecting only 'Closed'.

 

What happens if I close my Global Account?

Once the Global Account is closed, you will no longer be able to receive or pay out funds using this account. 

Your incoming deposits may be impacted:

  1. If the Global Account is closed before the sender's bank processes the deposit, your deposit will be rejected and returned to the sender’s account automatically.
  2. If your Global Account is closed after the deposit is processed by the sender's bank, Airwallex will initiate the return of the deposit on your behalf.

The amount returned may be less than the original amount, as you will incur a processing fee.

What if I have direct debit linked to my Global Account?

If you have set up direct debit instructions using this Global Account, your direct debit payouts may also be impacted:

  1. If the Global Account is closed before the originator's bank initiates the direct debit, the payout will be immediately rejected and no funds will be deducted from your wallet.
  2. If the Global Account is closed after the direct debit payout has been made, the payout will be deducted from the wallet balance.

See more about direct debit payouts.

If you change your mind, it may be possible to reopen a closed Global Account depending on the time it was closed. Please contact your account manager or our customer support team to learn more.

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