Airwallex has built an expansive global payment network to help businesses make fast, seamless, international transfers.
This guide will walk you through the process to create a new transfer within the Airwallex Web App.
1. Navigate to Transfers in the sidebar
Booking a new payment takes place on the Transfers page in Web App. Navigate to this page in the sidebar on the left of the screen to begin this process. Next, simply click the New Transfer button.
2. Select recipient
Clicking the Existing Recipient field will display a dropdown of recently added contacts. Select a beneficiary from this list, or click Someone New to create a new contact for this payment.
3. Select funding account
Clicking on the wallet under You Send will present a dropdown menu of available Wallets to fund this payment.
4. Select amount to send and transfer method
You can choose an amount to be sent or to be received by clicking on either the You send or Recipient gets amount - this will update the amount on the other side.
Transfer Method - Depending on the destination country, sending currency, and bank account, one or both of these options will be available for your payment. Most of your created contacts will already have a saved Transfer Method.
Local - Your payment will be sent using local payment networks. These payments are generally delivered faster and with lower fees than traditional SWIFT payments.
SWIFT - Using the SWIFT network for this payment may require additional details to be added to the beneficiary. Some bank accounts are only capable of receiving SWIFT transfers.
5. Add additional details for transaction
There are a number of additional details to include when creating a new payment.
These are outlined below:
5.1 Transfer date - this is the date the payment will originate from your account. It can take 1-3 business days for your funds to arrive depending where they are being delivered.
5.2 Purpose - clicking this field presents a dropdown list of payment reasons to choose from to help categorise this payment.
5.3 Transfer Reference - This reference is used to help the beneficiary identify this payment when displayed on the their bank statement
5.4 Internal Reference (optional) - You can request a custom ID to be used as an internal reference if your accounting system requires this.
6. Review your payment details
Once you have clicked Continue on the previous screen, you will be presented with an overview of the payment to review before submitting. This will show all details associated with the payment.
Once you have reviewed these details, either click Submit for approval, if this transfer has to be approved by someone on your team, or click Create to proceed.
7. Confirmation screen
You will be shown a booking completion screen to confirm that your payment has been successfully booked. You will receive an email from Airwallex confirming the payment and you have the option to download the confirmation letter to keep for your records or provide to your beneficiary.