Presenting Airwallex - an Australian company disrupting the financial space, and a great way to save money
(Undercover Architect is a proud partner)
And using this link you can sign up for your first $20,000 of foreign exchange free
That's $0 fees and 0% margin on your first $20,000 AUD in FX conversions (or equivalent).
And then my Facebook ad account got hacked
Early in 2021, I was locked out of my Facebook ad account by a hacker, who then proceeded to run random ads on my accounts ... strange ads, about type 2 diabetes!!
Fortunately, I discovered it quickly (within a few hours). By that time, they'd spent over $4,000 on my account.
To get it stopped, I had to call my bank, wait on hold, and then cancel the card used - which is the card I use for all my other business expenses too. And then I had to wait for a new card before I could update any of my accounts (and I couldn't pay for any online business expenses in the meantime).
To top it off, we then had several months of updating those card details on all the other regular payments I have in my business.
To say it was a TOTAL PAIN is an understatement.
If I'd been with Airwallex then, I could have logged into my dashboard and cancelled my card with one click. And then not had to worry about any other transactions, as my Facebook ads are on one individual card number, separate to other business expenses. AND I could have set up a new card number in a couple of steps.
So, I was really excited to learn about Airwallex - and also see how it could improve the rates I'm exchanging money for in any overseas transfers too.
Airwallex was built with a single purpose in mind – to create a world where all businesses can operate without borders and restrictions, and by doing so, propel the growth of the global digital economy. Whilst empowering businesses to operate anywhere, anytime.
Airwallex was inspired by real-life experiences of its founders running their own business and expert knowledge of how money moves.
Out of their love for good coffee, engineering-banking friends Jack Zhang and Max Li started Tukk & Co, a café in Melbourne. As small business owners, they recognised first-hand the impact of high transfer fees and banking costs on their profit margins, and sought out to build a better solution for businesses operating cross-border, improving on the constraints of the current global financial system. Something as simple as buying supplies overseas was challenging, with fees and charges all along the way
Airwallex was founded by Jack and Max, together with friends from the University of Melbourne, Lucy Liu and Xijing Dai. (AKA known as the 'big bank disruptors' to me LOL!!)
3 of the many ways Airwallex may help you
With an Airwallex account, there's no ongoing transaction fees. They charge a flat 0.3% on overseas transactions, and a flat 0.6% on any overseas transfers. There's no separate transaction charges or double dipping as with the banks.
I'm finding this is already saving me $$$, and making transactions a lot simpler.
You can have up to 250 digital debit cards, which means you can create a card number for types of expenses or team members. And then you can individually manage their limits, cancel them online super fast, and silo any transactional risk to that card number only (rather than your whole account).
Set them up on your account super fast.
You can also transfer money, have overseas bank accounts to receive and hold money in other currencies, and get paid by clients very easily directly into your Airwallex account.
You can set up a direct debit with other accounts to keep your Airwallex account topped up. And there's an app so you can see where your $$ is at super simply. And it syncs with Xero.
Watch this video to learn more about how Airwallex works.
Or I give you a quick look inside a Demo Account here ...
Not sure if you'll still benefit? Look at these ideas to see ...
Do you know if you're paying a 3% international card fee on your overseas tech or other subscriptions?
For example, despite Facebook Ads being charged in AUD, their merchant of record is in fact located in Dublin which results in surprise international card fees (sneaky things!)
How are you currently managing your employee expenses?
Shared corporate cards pose a security risk while reimbursing employees for out-of-pocket spend creates significant admin in chasing receipts. Give your team Airwallex corporate cards with their own logins to better track and manage spend to the budget set.
Do you have international customers that want to pay in their local currency?
Airwallex Global Accounts can be set up in just a few clicks, giving you local US, UK, EU local bank account details, so you can start collecting payments like a local, your customers’ preferred currency. Super easy.
What are the challenges in paying your overseas suppliers or team?
Faster international payments that arrive in-full, with 90% better transfer rates than the Big 4 Banks. In the past, I was using OFX for my team's overseas payments. By using Airwallex, I'm already saving over $200 per month, and they get their payments so much faster.
By using Undercover Architect's Partner Link you can sign up for your first $20,000 of foreign exchange free
That's $0 fees and 0% margin on your first $20,000 AUD in FX conversions (or equivalent).
(As an Airwallex partner, Undercover Architect may receive a small commission at no extra cost to you if you choose to join Airwallex via this link. I only endorse products I trust for our online community).
Each step of the way, my experience with Airwallex has been exemplary.
From the onboarding ... My account manager, Jack, (Relationship Growth Manager - Architecture, Design and Engineering) has been proactive, responsive and super supportive in answering all my questions, getting me set up, and following up on questions I had. I've been blown away by how proficient their customer onboarding and support has been.
The ease of the platform ... once I submitted the required business ownership documentation, my account was set up very quickly. Interacting with it has been super easy (and Jack did a 1:1 training session with me to show my around).
To set up a new card number is literally a couple of clicks ... And then it's ready to use. I've also got an actual card too, which I can use when out and about (which replaces my bank's VISA card). And if we ever get to travel overseas again, I'll be able to use it all over, without worrying about transfers and transaction charges wherever I am (plus always be getting my currency converted at competitive rates). Just the flat 0.3% Airwallex charge.
Money being saved ... I personally love a disruptor. I'm super excited by what Airwallex is working on, how it's growing, and how customer-driven they are. It's such a joy to find an Aussie company seriously changing the way we transact globally. We've put up with sub-standard service and results from the big banks for so long ... it's awesome to see a company like Airwallex providing such a valuable alternative.
It made me realise ... how much we've all come to put up with mediocre customer service and quality of products from the companies we do business with everyday, and trust with our hard-earned money. Not Airwallex - it's been SUCH a pleasure every step of the way.
And it's just the beginning ... Airwallex is working to solve all the niggles and issues we experience with transacting online and globally. I'm super excited about what they're working on, and what's ahead as they grow the platform!
Flat fees, no ongoing transaction charges, and super easy to use. It sounds too good to be true, doesn't it? That's what I thought ... but Airwallex is seriously delivering.
Got any questions about it? Contact Airwallex, or you can email me at [email protected]
By using Undercover Architect's Partner Link you can sign up for your first $20,000 of foreign exchange free
That's $0 fees and 0% margin on your first $20,000 AUD in FX conversions (or equivalent).
(As an Airwallex partner, Undercover Architect may receive a small commission at no extra cost to you if you choose to join Airwallex via this link. I only endorse products I trust for our online community).
With over 30 years industry experience, Amelia Lee founded Undercover Architect in 2014 as an award-winning online resource to help and teach you how to get it right when designing, building or renovating your home. You are the key to unlocking what’s possible for your home. Undercover Architect is your secret ally