This page is intended to act as a resource for customers looking for further information following recent events surrounding Silicon Valley Bank (SVB).

As a global payments business, Airwallex works with more than 60 banking partners internationally, and SVB is only one of them in the US.

The security of your funds is our top priority, and your funds held in Airwallex accounts are protected and secure. All customer funds, including the funds with SVB, have been safely transferred to other reputable and secure banks. 

There is no impact to our customer’s funds. Your funds are accessible from your Airwallex account.

If you have any questions regarding SVB and using Airwallex, please see the FAQs below or reach out to support@airwallex.com.

We will continue to update this page as the situation changes.

 

FAQs

Global Accounts

How can I find out whether I have a US Global Account provided by Silicon Valley Bank (“SVB GA”)? If so, do I need to take action?

Under your Global Account Summary page, an alert banner will appear if the account is provided by SVB. You may also click “Show all details” to see the provider bank name.

For customers integrated with us via API, please call GET /api/v1/global_accounts or GET /api/v1/global_accounts/{id} to retrieve your Global Account details, and refer to the institution.name parameter to identify those provided by SVB.

We plan to close all SVB US Global Accounts by April 15. Until then, deposits received in your existing SVB US GAs will be safely credited to your wallet. After April 15, incoming deposits will be returned to the original payor.

We encourage you to create a new US Global Account as soon as possible to avoid any future disruption, and provide the details to your respective payors. More details of how to set up a new US GA can be found below or here. 

How do I create a new Global Account?

For customers using our WebApp, please go to the “Global Accounts” tab, click on “Create Global Account”, and select United States on the next screen. You can find a step-by-step guide here.

For customers integrated with us via API, please call POST /api/v1/global_accounts/create to create new USD Global Accounts in the United States. 

You can find more guidance in our Product Docs.

Can I still use my SVB Global Account if I choose to?

We plan to close all SVB US Global Accounts by April 15. Until then, deposits received in your existing SVB US GAs will be safely credited to your wallet. After April 15, incoming deposits will be returned to the original payor.

We encourage you to create a new US Global Account as soon as possible to avoid any future disruption, and provide the details to your respective payors. More details of how to set up a new US GA can be found below or here. 

One of my partners only banks with SVB and now cannot send funds internationally via SWIFT. How can I receive funds from this partner?

You can set up a new US Global Account by going to the “Global Accounts” tab and follow the steps outlined. Your partner will be able to send funds via a local USD transfer.

 

Transfers

Can I make payouts to my SVB bank account?

Yes, you can still create transfers to an SVB bank account. Please contact support@airwallex.com if you have transfers that are in flight for a very long time, or that you would like to attempt to recall.

 

Linked bank account and direct debits

Can I still use the SVB bank account I linked to Airwallex to receive direct debit deposits?

We have deactivated all linked bank accounts associated with SVB. You are no longer able to link new bank accounts under SVB to Airwallex.

How do I link a new bank account?

For customers using our WebApp, please refer to this Help Centre article to understand how you can add a new linked bank account.

For customers integrated with us via API, please call POST /api/v1/linked_accounts/create to link another external bank account. You can find a detailed guide about the authentication process and how you can set it up for direct debits in our Product Docs.

 

Other FAQ

Does Airwallex or SVB hold my USD funds?

All customer funds with SVB have been safely transferred to other reputable and secure banks. 

I want to move my funds into Airwallex. How soon can I get an account opened and what is the process?

Our teams are working around the clock to fast-track new Airwallex account applications. Please sign up via our website, which will guide you through the required steps. If you have any questions, please reach out to support@airwallex.com.