Brand Overview: Wallex
Wallex is a B2B cross-border foreign exchange and payments platform founded in 2015. Headquartered in Singapore, the platform was acquired in 2022 by fintech company M-DAQ Global and operates under M-DAQ Payment Solutions Pte. Ltd., providing international financial infrastructure across Asia and global markets.
Contact Info
Customer Support Email: [email protected] / [email protected]
Complaints Email: [email protected]
Phone Number: +65 6225 8991 (Singapore) / +62 21 2922 2991 (Indonesia)
Industry and Operations
Wallex operates within the financial technology and corporate payments sector, providing specialized cross-border financial services, multi-currency accounts, and foreign exchange tooling designed for small-to-medium enterprises and corporate entities.
- Global Payments: Outbound international wire transfers and business payments supporting 47 currencies across more than 160 countries.
- Multi-Currency Wallets: Dedicated business wallets to hold, convert, and manage funds in multiple major and regional Asian currencies.
- International Collections: Virtual collection accounts that allow businesses to receive local currency payments from international customers and marketplaces.
- Foreign Exchange (FX) Solutions: Near mid-market currency conversion rates designed to minimize the cost of global financial transactions.
- Developer APIs: Payment and FX APIs enabling businesses to integrate automated cross-border disbursements into their internal systems.
User Sentiment
Overall user sentiment reveals notable operational friction, with dissatisfied customers frequently citing delays in transaction processing, strict compliance procedures, and inconsistent customer support communication.
- Protracted Onboarding and KYC Verification: Users report lengthy onboarding timelines, extensive compliance questionnaires, and repetitive requests for identity or business documentation.
- Transfer and Settlement Delays: Customers express frustration when outbound or inbound payments are held up during routing or undergo extended compliance checks without clear timelines.
- Customer Service Responsiveness: Feedback frequently points to slow response times or difficulties reaching live support agents when urgent transaction issues arise.
- Unexpected Intermediary Bank Fees: Some users note fee deductions made by correspondent intermediary banks along the SWIFT network, resulting in beneficiaries receiving less than the anticipated amount.
- Lack of Spend Management and Mobile Access: Businesses note limitations compared to broader corporate fintech platforms, including the absence of native mobile applications and physical corporate payment cards.
Share Your Experience
If you’ve experienced issues with https://www.wallex.asia/en, you’re not alone. Share your experience or file a complaint on Xolvie to let your voice be heard.