What regulatory verification is and why it's required
Regulatory Verification or KYC (Know Your Customer) is a legal requirement to confirm your identity and business legitimacy. It protects against fraud, money laundering, and other illegal activity.
Airwallex handles regulatory verification checks so it can safely offer payment and wallet services in places like the UK, EU, Australia, Singapore, Hong Kong, and the US.
Dext Payments’ role in regulatory verification
Dext Payments facilitates the regulatory verification process on behalf of Airwallex. Without successful regulatory verification, Airwallex cannot legally offer payment, FX (foreign exchange), or wallet services, meaning you won’t be able to use Dext Payments until verification is complete.
Important: Dext Payments is only available for Xero-integrated UK clients.
Create your business account
Before you can start using Dext Payments, you’ll need to verify your business and get approved by our payments partner, Airwallex.
The setup process depends on whether you're the business owner or acting on behalf of the business.
If you are the business owner
You’ll need to provide:
Your business details
Proof of your identity (e.g., passport or driver’s licence)
Your phone number
If you have a limited company, then details of all company directors
If you are not the business owner
You’ll need:
The business details
Proof of your identity (e.g., passport or driver’s licence)
Your phone number
If it is a limited company, then details of all company directors
A signed authorisation letter confirming you’re allowed to open this account on the business’s behalf
Set up your account
Review and accept the Dext Payments Terms of Use
Click Set up account to begin
Final step: account approval
Airwallex will review your submitted information and documents and notify you once your account has been approved and is ready to use.
Will I need to do regulatory verification again?
Sometimes, yes. Airwallex may request updated info if:
Your business details change (e.g., new UBOs or directors)
There’s a shift in your payment activity
Regulations require a re-check
If needed, you’ll be notified by email or in-app.
What if regulatory verification fails?
Your verification might not pass on the first try. Common reasons include:
Mismatched or unclear documents
Expired ID
Incomplete ownership info
Unverified or inactive business registration
Involvement of high-risk jurisdictions or sanctioned entities
If this happens, Dext Payments will:
Notify you by email and/or in-app message
Indicate which information or documents require updating. This is commonly referred to as the Request for Information (RFI) process.
Pause onboarding until the issue is resolved
You can then resubmit the required details for re-verification.
Note: If your business cannot be verified or is found non-compliant, Dext Payments will not be able to provide payment services.
While you wait: set up your account
Even while regulatory verification is in progress, you can get your account ready.
Add your authentication device
To approve payments and view sensitive info, you’ll need to link a mobile authentication device. This is part of the Strong Customer Authentication (SCA) requirements under PSD2.
To add a device:
Open the Dext mobile app (download from your app store if not installed).
Scan the QR code shown in your web app to pair your device.
Approve the device when prompted.
Without an authenticated device, you won’t be able to process payments or access restricted data.
To remove a device:
Go to User settings > Payments.
Select the device and choose Revoke.
To add another device, click Add and repeat the setup.
Note: If you remove your only device, you’ll lose access to authentication-required actions. You’ll need to contact our Support team to restore access.
After your account is approved
Once regulatory verification is done and your account is active, you can:
Set up permissions
By default, access to Dext Payments is limited to Practice, Client, and Business Admins. These users can invite other Admins to the account and assign them the appropriate Payment Admin or Standard payment role and permissions.
To manage access:
Go to Business settings > Payments > Permissions
Click Invite user or edit an existing one
Choose the right access level
Save your changes
Note: You can update or revoke access anytime. See the Payment Access, roles, and permissions guide.
Set up approvals
This step ensures that only the right invoices are paid by establishing simple yet robust Payment Approval workflows.
To create an approval workflow:
Go to Business settings > Approvals > Payment runs
Click Create workflows
Complete the workflow steps.
Save your changes
See also the Payment run approval workflows guide.
Connect your Payments wallet to Xero
This step creates a new Xero Bank Account and sets up bank feeds. This keeps transactions updated automatically and makes reconciliation effortless.
To connect your payments wallet to Xero:
Click on Connect wallet
A bank account is created and now linked to your Dext wallet and set up for bank feeds.
You can now add funds to your Wallet and create your first payment run.
Best practices for smooth onboarding
Submit clear, valid documents - Make sure IDs and business documents are up-to-date and legible.
Check for consistency - Names, addresses, and registration numbers must match across all documents.
Include complete ownership details - Provide information for all directors or beneficial owners (UBOs).
Set up your authentication device early - This ensures you can access payment approvals as soon as regulatory verification clears.
Review permissions carefully - Only grant approval or submission access to trusted users.
Monitor your inbox - Respond quickly to any regulatory verification or Airwallex review requests to prevent delays.
Following these steps helps keep your account compliant and ready for payments as soon as verification is complete.
Payments videos
Payments in Dext: Onboarding and Rrgulatory verification | |
Payments in Dext: Managing roles and permissions | |
Payments in Dext: Building approval workflows | |
Payments in Dext: Making your first payment | |
Payments in Dext: Funding your wallet | |
Payments in Dext: Registering a device for payments authentication | |
Payments in Dext: End-to-End setup: Payment runs for accounting teams |