Airwallex Business Account for an IBC

What is an Airwallex Business Account?

Before exploring the Airwallex business account, let us learn a bit about the “Airwallex” platform.

Airwallex is a Melbourne-based global fintech company that has been simplifying global transactions since 2015. Currently it serves more than 200,000 ventures and offers a range of financial solutions to them. It is a modern financial platform that combines the core functions of a traditional bank and adds additional features like multicurrency options and flexibility. 

Now let us learn what an Airwallex Business Account is: Airwallex business account allows a company to conduct payments in more than 200 countries and eliminates costly conversions and global transfer hurdles. With an Airwallex account for an IBC, business transactions can be done in local currencies within the Airwallex-supporting countries. Your company can transfer funds in more than 60 currencies within a single day. From providing local bank details to converting currencies at near interbank rates, Airwallex offers everything a venture needs.

Salient Features of an Airwallex Business Account

To comprehend better, let us explore the important features of an Airwallex business account:

How Can an IBC Benefit From An Airwallex Business Account?

If you have completed your IBC formation in any of the offshore jurisdictions, you will quickly discover the hardships of opening a traditional bank account. Here is where an Airwallex account can help.

Below are the important advantages of using an Airwallex business account for an IBC:

1. Remote registration available: The entire account opening process in Airwallex can be completed remotely. You can submit all the company credentials online without wasting time in branch visits.

2. No minimum balance requirements: The company does not need to submit a minimum deposit while opening a business account, which is a significant benefit.

3. Fast account approval: Unlike traditional banks, properly submitted company applications are processed faster by the Airwallex compliance team.

4. Fast international transfers: With an Airwallex business account, an IBC can conduct fast global transfers in 60+ currencies, mostly within one day.

5. High-level privacy: Airwallex safeguards the company's funds using advanced features like SSL encryption and 2FA verification, along with frequent security audits.

Is Your IBC Eligible for Opening an Airwallex Business Account? 

Not all IBCs can have an account in Airwallex. The eligibility depends on where the company is established and what business activity it conducts.

Offshore Jurisdictions that Airwallex Accepts

Airwallex accepts companies registered in more than 50 countries which include some major offshore jurisdictions too. If your IBC is registered in one of the listed jurisdictions, you have a higher chance of Airwallex account approval.

Restricted Business Activities

IBCs that perform these business activities cannot open a business account with Airwallex:

1. Investment and portfolio management
2. Gambling
3. Online batting
4. Defense weapon manufacturing
5. Bearer share companies
6. Crypto and VASP activities

How to Open an Airwallex account for an IBC?

The account opening process in Airwallex is simple and fast provided that the right steps are followed. Here is a simple step-by-step breakdown for opening a business account:

STEP 1: Go to the Airwallex application and click “Get Started.”

STEP 2: Enter all the company details

STEP 3: Provide the business activity details and expected monthly transactions

STEP 4: Upload the necessary documents

STEP 5: Submit the application form and wait for account approval

STEP 6: Once the compliance review is done, the Airwallex account will be active.

Documents required for opening an Airwallex Business Account

Remaining handy with all the necessary documents guarantees faster account approvals. Below is a list of documents that must be submitted during the Airwallex application filing:

1. Certificate of Incorporation
2. Government-issued ID proofs
3. Memorandum and Articles of Association
4. Business details
5. Address proof

Airwallex has changed the entire landscape of digital business transactions. Whether your IBC is registered in Seychelles, BVI or any other accepted offshore jurisdiction, this account reduces all the fund transaction worries. The main crux lies in filling out the application correctly with clear documentation and complete company details. Ready for offshore company formation with an Airwallex business account included? Contact Gryffin Capitalist today and let us make it happen for you.