General & Account
To open a corporate account, we typically require:
- Certificate of Incorporation (ACRA or equivalent).
- Memorandum & Articles of Association (M&AA).
- Passport/ID of all Directors and Ultimate Beneficial Owners (UBOs) owning >25%.
- Proof of Address for the company.
No, Wallex does not charge any monthly subscription or account maintenance fees. You only pay a small fee per transaction when you send money. Opening an account is completely free.
Once you submit all required documents, our compliance team usually processes the application within 1-3 business days. If we need additional information, we will contact you via email.
Sending Money
Most major currencies (USD, GBP, EUR, SGD, HKD) are delivered within the same business day or T+1. For some exotic currencies, it may take 2-3 business days depending on the destination country's banking infrastructure.
We support over 47 currencies for payments, including USD, SGD, IDR, THB, MYR, PHP, CNY, EUR, GBP, AUD, JPY, and many more. You can view the full list in your dashboard.
Generally, there are no hard limits for corporate accounts, provided the source of funds is verified. However, for very large transactions (>$1M), we recommend notifying your account manager in advance for smoother processing.
Receiving Money (Collections)
A Virtual Account is a unique bank account number issued to your company by Wallex. It allows you to receive funds in currencies like USD, SGD, IDR, EUR, and GBP locally. When a client pays into this account, the funds appear in your Wallex wallet instantly.
Yes! Our Global Collection Accounts are compatible with major marketplaces and payment gateways like Amazon, Stripe, Shopify, PayPal, and more.
Safety & Security
Wallex is not a bank. We are a licensed FinTech institution regulated by the Monetary Authority of Singapore (MAS), Bank Indonesia (BI), and Hong Kong Customs & Excise Department. We work with top-tier banks to safeguard your funds.
Your funds are kept in segregated client accounts at tier-1 banks (like DBS and JPMorgan), separate from Wallex's own operating funds. This ensures that your money is safe and always available to you.