Airwallex Request for Information

[JackAlabama]

Wait.... they prefer US corporations?
Does the UBO's residency matter, or do they prefer a US one, too?

It can be outside usa as well. But you never know. Seems very random how they do stuff.
Since they have several entities handling things depending on the region of the ubos residence, maybe that has some impact too.

 

[ilke]

I'm not sure, I guess there are bad sides to any EMI. Although I completely disagree with @BerlusconiSchmidt that one would avoid ever getting asked questions by using a high street bank instead of EMIs. It's not really normal to get 'spammed' with requests for information about transfers unless you are doing something suspicious and/or not what you stated you will be doing when getting onboarded. The EMI wants to keep you, not get rid of you with limitless question-asking.

But I've had over 8 figures through Airwallex over the past couple years (don't remember when I started using it). I had a request for information once, with a larger bank transfer to a 3rd world country for support services. Never did I experience problems receiving funds, exchanging currencies (which the rates are actually pretty good for), or getting other companies onboarded.

Just know that Airwallex NL and UK can be a pain. I think that's mostly the local regulations; HK and LT are working fine from my experience, and I haven't used US LLCs so I am not sure about AWX US.

After all, I do not really see a problem in providing a document on a transaction that they or their bank has questions about. The Airwallex process shouldn't be complex, and it shows that they want to maintain relationships with the high-tier banks they use.

It can be outside usa as well. But you never know. Seems very random how they do stuff.
Since they have several entities handling things depending on the region of the ubos residence, maybe that has some impact too.

Just a small correction, the entities are based on the company registration, unrelated to the UBO.

The list is available from this link.

I would recommend avoiding Airwallex if you fall under NL and maybe UK. Not sure about people's experiences with the others.

 

[JackAlabama]

I'm not sure, I guess there are bad sides to any EMI. Although I completely disagree with @BerlusconiSchmidt that one would avoid ever getting asked questions by using a high street bank instead of EMIs. It's not really normal to get 'spammed' with requests for information about transfers unless you are doing something suspicious and/or not what you stated you will be doing when getting onboarded. The EMI wants to keep you, not get rid of you with limitless question-asking.

But I've had over 8 figures through Airwallex over the past couple years (don't remember when I started using it). I had a request for information once, with a larger bank transfer to a 3rd world country for support services. Never did I experience problems receiving funds, exchanging currencies (which the rates are actually pretty good for), or getting other companies onboarded.

Just know that Airwallex NL and UK can be a pain. I think that's mostly the local regulations; HK and LT are working fine from my experience, and I haven't used US LLCs so I am not sure about AWX US.

After all, I do not really see a problem in providing a document on a transaction that they or their bank has questions about. The Airwallex process shouldn't be complex, and it shows that they want to maintain relationships with the high-tier banks they use.

Just a small correction, the entities are based on the company registration, unrelated to the UBO.

The list is available from this link.

I would recommend avoiding Airwallex if you fall under NL and maybe UK. Not sure about people's experiences with the others.

yep the UK one is horrendous and one of these ive just abandoned midway like a rowdy dog. NL sècked balls too.

 

[Belfort]

Hijacking this thread a bit, but does anyone know if Airwallex reports to governments as per the CRS?

 

[12345]

Hijacking this thread a bit, but does anyone know if Airwallex reports to governments as per the CRS?

Currently no as far as I know but there was a link posted by a forum user that starting 2026 EMIs like Airwallex would participate in CRS

 

[JohnLocke]

I always got requests from Wise, Airwallex, etc... so annoting, not serious. We are a business, have a turnover of 10m + a year and over 5000 transactions, do you have any idea how many request of information we receive? We had to set up a contractor just to deal with those queries.

how many transactions you are doing during a months since you get so many requests? and are they large transfer?

 

[thomasparra]

This is why I can't stand EMIs.

I always got requests from Wise, Airwallex, etc... so annoting, not serious. We are a business, have a turnover of 10m + a year and over 5000 transactions, do you have any idea how many request of information we receive? We had to set up a contractor just to deal with those queries.

Never ever ever once a real bank sent us a " request for information " .

Serious businesses do not use EMIs, they are for the leftover entrepreneurs and EMIs know it.

(except UK banks which are s**t and froze our account just for a 500 GPB payment to Facebook ads)

I agree but

I'm not sure, I guess there are bad sides to any EMI. Although I completely disagree with @BerlusconiSchmidt that one would avoid ever getting asked questions by using a high street bank instead of EMIs. It's not really normal to get 'spammed' with requests for information about transfers unless you are doing something suspicious and/or not what you stated you will be doing when getting onboarded. The EMI wants to keep you, not get rid of you with limitless question-asking.

But I've had over 8 figures through Airwallex over the past couple years (don't remember when I started using it). I had a request for information once, with a larger bank transfer to a 3rd world country for support services. Never did I experience problems receiving funds, exchanging currencies (which the rates are actually pretty good for), or getting other companies onboarded.

Just know that Airwallex NL and UK can be a pain. I think that's mostly the local regulations; HK and LT are working fine from my experience, and I haven't used US LLCs so I am not sure about AWX US.

After all, I do not really see a problem in providing a document on a transaction that they or their bank has questions about. The Airwallex process shouldn't be complex, and it shows that they want to maintain relationships with the high-tier banks they use.

Just a small correction, the entities are based on the company registration, unrelated to the UBO.

The list is available from this link.

I would recommend avoiding Airwallex if you fall under NL and maybe UK. Not sure about people's experiences with the others.

I provided the invoice referring to the payment I received and it was not enough for them. They asked to see details of communication (email etc) regarding the service. It’s crazy as the invoice is pretty detailed and should suffice by itself.

I guess the transfer from the client as an individual triggered the flag, it’s unusual for sure but I hope not to get pinged again when being paid from actual business accounts from my clients

 

[JackAlabama]

I agree but

I provided the invoice referring to the payment I received and it was not enough for them. They asked to see details of communication (email etc) regarding the service. It’s crazy as the invoice is pretty detailed and should suffice by itself.

I guess the transfer from the client as an individual triggered the flag, it’s unusual for sure but I hope not to get pinged again when being paid from actual business accounts from my clients

well today games are being played dirty. They might want to terminate you for whatever reason (not profitable, country risk or your google profile what not etc etc etc ) and do stuff to make it easy to happen and by minimizing legal risks (and do that by asking unreasonable things).

I usually give FIs who try that on me the boot.

 

[mayan]

Careful with Airwallex, shut down my account out of nowhere last year, along with 100s of others. There was absolutely nothing risky going on there, but they probably had some fraud elsewhere and the new risk guy decided to show his worth and "derisk" by cutting out hundreds of accounts.

Be extremely careful with them, so far I'm happy with Currenxie and Statrys, but please avoid Airwallex like a plague - they're much better in features than anybody else, but too many people got burned by them.

 

[Belfort]

Careful with Airwallex, shut down my account out of nowhere last year, along with 100s of others. There was absolutely nothing risky going on there, but they probably had some fraud elsewhere and the new risk guy decided to show his worth and "derisk" by cutting out hundreds of accounts.

Be extremely careful with them, so far I'm happy with Currenxie and Statrys, but please avoid Airwallex like a plague - they're much better in features than anybody else, but too many people got burned by them.

New account with 0 posts, shits on an EMI, provides no proof and advertises two others.

 

[jafo]

They asked to see details of communication (email etc) regarding the service. It’s crazy as the invoice is pretty detailed and should suffice by itself.

This is shocking! Maybe they want your business.
Just a thought... I had a bank president (in an Asian country) give me a confidential copy of every communication, contract, and whatnot of a company that banks at his bank. He proposed that I would go after the account, and we would split it by 50%/50%. The contract was worth about £27 million/year. He's still waiting for an answer.
I didn't close my account. I just wired most of the money out (except a few grand), made excuses, and dodged him after that.
It was either that or "turn him in." I just walked into the sunset. There was too much negativity.

This is NOT the first time this has happened to me.

 

[JackAlabama]

This is shocking! Maybe they want your business.
Just a thought... I had a bank president (in an Asian country) give me a confidential copy of every communication, contract, and whatnot of a company that banks at his bank. He proposed that I would go after the account, and we would split it by 50%/50%. The contract was worth about £27 million/year. He's still waiting for an answer.
I didn't close my account. I just wired most of the money out (except a few grand), made excuses, and dodged him after that.
It was either that or "turn him in." I just walked into the sunset. There was too much negativity.

This is NOT the first time this has happened to me.

shocking. Banks being criminal enterprises proved once more.
You can be for sure by you not accepting the offer he would propose your account/business being slaughtered to someone else who might take it.

Ive already had somewhat related things by just interacting with lowly RM who were overly ambitious in more than one country.
Good call to just let that account sit and you need most of your money for something urgent/other (like a new mistress which came up (I did the same in every instance too).

 

[jafo]

(like a new mistress which came up (I did the same in every instance too).

 

[thomasparra]

This is shocking! Maybe they want your business.
Just a thought... I had a bank president (in an Asian country) give me a confidential copy of every communication, contract, and whatnot of a company that banks at his bank. He proposed that I would go after the account, and we would split it by 50%/50%. The contract was worth about £27 million/year. He's still waiting for an answer.
I didn't close my account. I just wired most of the money out (except a few grand), made excuses, and dodged him after that.
It was either that or "turn him in." I just walked into the sunset. There was too much negativity.

This is NOT the first time this has happened to me.

It surely sounds like it. They wanted to see an example of the service rendered and some other confidential information! They eventually released the funds after a third follow up question from theirs. I will report back if future transactions get the same treatment from other clients as well, esp ones emitted from business accounts

 

[JackAlabama]

It surely sounds like it. They wanted to see an example of the service rendered and some other confidential information! They eventually released the funds after a third follow up question from theirs. I will report back if future transactions get the same treatment from other clients as well, esp ones emitted from business accounts

oh, thats pretty much a red flag.

As ironically as it sounds, they just admitted to a data leak, so its obvious once again banks cannot be trusted with sensitive data.

"

We are writing to inform you of a cybersecurity incident involving Evolve Bank & Trust, one of several Airwallex banking partners in the U.S. It appears that a criminal organization targeted Evolve and leaked customer data, likely including Personal Identification Information (PII), on the dark web. The data varies by individual, but could include your name, Tax ID, date of birth, account information and/or other personal information. "​

 

[jafo]

oh, thats pretty much a red flag.

As ironically as it sounds, they just admitted to a data leak, so its obvious once again banks cannot be trusted with sensitive data.

"

​

We are writing to inform you of a cybersecurity incident involving Evolve Bank & Trust, one of several Airwallex banking partners in the U.S. It appears that a criminal organization targeted Evolve and leaked customer data, likely including Personal Identification Information (PII), on the dark web. The data varies by individual, but could include your name, Tax ID, date of birth, account information and/or other personal information. "​

It appears that a criminal organization targeted Evolve and leaked customer data, likely including Personal Identification Information (PII), on the dark web. The data varies by individual, but could include your name, Tax ID, date of birth, account information and/or other personal information.

So, another "bank" targeted them? Is this a Freudian slip?

In all seriousness, this is disturbing and terrifying. Imagine copies of our documents end up in a warehouse in Mexico or Colombia with what looks like tons of "Johnson & Johnson Baby Powder."

Or, like the Ledger issue, they tried to bribe some people. Those who fought back got silencers delivered to their home addresses, paid for with crypto. It was a controlled delivery. People spent a lot more on "legal fees" than they would have on extortion fees (yeah...I see the tautology here...and frankly, this time, I'm not amused