Overview

• Wallex is a licensed cross-border payments and foreign exchange platform operating in Singapore, Indonesia, and Hong Kong, regulated by MAS, Bank Indonesia, and HK Customs. It offers multi-currency wallets, allowing businesses to send, receive, and hold funds in over 35+ currencies with competitive FX rates and low fees. Users can make international payments to over 180 countries, including bulk transfers to up to 200 beneficiaries at once. The platform supports fast settlement — within 1 hour for SGD/IDR and same-day or next-day for many major currencies. Wallex requires no minimum deposit, and onboarding is fully digital and quick. It’s ideal for SMEs and corporates managing international payments, collections, and treasury across Asia and beyond.

Services Offered

Account Types:

• Personal and Corporate Multi-Currency Accounts

Currencies Supported:

• USD, EUR, SGD, IDR, HKD, and others

Banking Services:

• Multi-Currency Wallets
• Cross-Border Payments (180+ countries)
• Virtual Accounts for Receiving Funds
• Foreign Exchange with Real-Time Rates
• Bulk Transfers to 200+ Recipients
• Online Platform & API Integration
• SWIFT Transfers with MT103 Tracking
• Local and Global Payout Rails

Required Documentation for Bank Account Opening

1. For Company/Corporate Accounts:

• Certificate of Incorporation
• Company Constitution or Articles of Association
• Business Registration License
• Company UBO (Ultimate Beneficial Owner) Structure Chart
• Board Resolution / Power of Attorney (authorizing signatory)

2. For Directors & UBOs (≥25% ownership):

• Government-issued ID/Passport copy
• Proof of address (utility bill or bank statement, typically within 3 months)
• Selfie / Live verification (via Wallex platform)

3. Additional Information May Be Required:

• Nature of business & expected transaction volume
• Website or business plan (especially for startups)
• Bank statements or invoices (for proof of operations)

Account Opening Process

1. Register Online

• Submit your company name, business email, and contact details

1. Upload Company Documents

• Submit business registration documents, shareholder info, and ID for UBOs/directors

1. KYC Verification

• Wallex reviews your documents
• You may be asked to complete a live selfie or provide additional compliance info

1. Compliance Review

• Internal compliance team checks business activity, ownership, and jurisdiction
• Turnaround time is usually 1–3 business days

1. Account Approval & Activation

• Once approved, you’ll receive access to the Wallex platform
• You can start holding, sending, or receiving funds immediately — no minimum deposit required

Account Opening Summary