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Make international payments, convert FX, collect with local currency bank accounts in countries and currencies that matter most to your business.
We have worked with some of the most successful companies in Asia for their currency exchange and global payment needs.
Wallex works closely with financial regulators and maintains the highest security standards to protect your data – and your organisation.
Regulated as a Remittance Business by the Monetary Authority of Singapore (MAS) License number: PS20200433
Licensed remittance company under the regulation of Bank Indonesia License number: 20/235/DKSP/83
Regulated as a Remittance Business by the Customs and Excise Department Hong Kong License number (MSO): HKCE19-12-02935
Licensed and Compliant
Fully licensed and regulated by the Monetary Authority of Singapore (MAS), Bank Indonesia (BI) and Hong Kong Customs and Excise Department (HKCED)
Communication between Wallex infrastructure and financial institutions are transmitted over encrypted tunnels. This means that all your data, and money, is secure.
What is Wallex
The internet has improved our lives in many ways yet corporate payments remain left behind in the form of old and clunky banking systems. Wallex aims to provide customers with a powerful digital corporate FX solution that allows businesses to pay, receive, hold or convert funds in multiple currencies, all via our secure electronic platform.
Why would I want to have a balance with Wallex
Wallex allows you to hold balances in different currencies. This enables you to hedge your foreign currency needs in advance and protect your business against unnecessary FX losses.
Is my money safe with Wallex
Wallex holds a licence as a Major Payment Institution, issued by the Monetary Authority of Singapore (MAS) under the Payment Services Act 2019. We are also licensed and regulated in Hong Kong and Indonesia. All customer funds are safeguarded and kept in a customer segregated account which is separate from all other Wallex operations accounts. We operate within a very strict framework both for compliance and for the safety of funds in our custody.
Why should I make payments with Wallex
When you transfer money via banks, not only are you charged a high processing fee, you are also exposed to excessive FX margins. The process is also lengthy and troublesome. With Wallex, not only do we give you access to rates that can slash your transaction costs by as much as 70%, you are also able to make global payments in minutes.
Which currencies and countries can I pay in
We enable overseas payments and FX conversions in 47 major currencies to 180 countries in the world including USD, GBP, EUR, HKD, AUD, JPY amongst others.The full list of supported currencies is available for Singapore and Indonesia customers. We are constantly widening our currency offerings, do talk to us for any specific requests.
How long does a payment take
For international payments in Singapore Dollar and Indonesian Rupiah, our average processing time is under an hour. We also deliver same day payments for 20+ currencies including USD, EUR, GBP, HKD, INR, MYR and more for funds received before the daily cut off time. Depending on the currency you are making the payment in you can expect your funds to reach from the same day to 2 working days upon our receipt of your funds.
I make frequent payment to my suppliers and staff abroad. Can Wallex support me
Our services are designed for business, so we can capably handle frequent and high value transactions on your behalf. With our Bulk Payments feature you can also set up and execute multiple transactions at the same time.
Can my international customers pay me into my Wallex account
Yes ! You can open a global receiving account in Singapore Dollar, US Dollar, Euro, Sterling Pound and Indonesian Rupiah in an instant. Your customers can make payments to you in SGD, USD, EUR, GBP and IDR as if they were making a local payment - thus saving you and your customer valuable time and money.
What does it cost a business to open a Wallex account
It’s free to open an account. We don’t charge any subscription and maintenance fees or fees for receiving money. There are no minimum balance requirements either. We charge a flat % fee based on the currencies that you wish to make a payment in. The conversion is done for you at extremely competitive near mid-market rates. Say goodbye to obscure exchange rates and Hello to price transparency!
How can I start making international payments through Wallex
Start with signing up for your Wallex account. There is no cost or no minimum commitment when you sign up. Once your account is verified, you can start accessing all of Wallex’s offering including cross border payments, local conversions, e-wallets as well as virtual receiving accounts.
Join us on our journey to revolutionize cross-border commerce alongside thousands of customers already using Wallex to transform the way they do global business.