A Global Account is a collection capability offered by Airwallex for the sole purpose of receiving deposits. It grants you access to account details that enable you to collect funds in the currency preferred by your sender, either locally or through the SWIFT network, as well as popular platforms such as PayPal, Amazon, and Shopify.
Any payments received through these accounts are consolidated into your multi-currency wallet, from which you can initiate payments. It is important to note that the Global Account itself does not retain any funds.
Your wallet, on the other hand, holds all the funds received from any of your global accounts. You have the ability to initiate payouts from your wallet using our 'Transfers' feature.
For instance, it is possible that you have multiple USD Global Accounts in different geographical locations. As soon as we receive payments to any of your USD Global Accounts, the total amount will be added to your USD wallet. This updated balance can be immediately utilised for making transfers. We have made it more convenient for you by consolidating all your funds into a single account.