Dext Payments wallets hold the funds you use for payments. You can manage balances in supported currencies, convert funds between wallets, and pay eligible international supplier invoices.
Important: Dext Payments is available for Xero and QuickBooks Online integrated accounts in the UK and Canada. Currencies and payment methods depend on your Payments setup and connected accounting software.
At a glance
Here's a quick summary of how wallets work:
A wallet is your digital, multi-currency account for holding, sending, and receiving money globally.
Currently, the supported wallet currencies are GBP, CAD, USD, EUR, AUD, and NZD. The currency must also be supported and enabled in your connected accounting software.
Wallet funds are safeguarded (segregated and not lent out). Deposit insurance (e.g., FSCS/FDIC) doesn’t apply the same way as a bank account; protections vary by region.
You can pay eligible international supplier invoices from your base wallet, with currency conversion where needed, or from an additional wallet in the same currency as the invoice.
What is a wallet?
A wallet holds funds for use in Dext Payments. With multi-currency enabled, you can open wallets in supported currencies and manage each balance and its transactions separately.
How a wallet differs from a traditional bank account
Both can hold money, receive payments, and make transfers, but they work differently:
Global by design: Bank accounts are usually tied to one country and currency; your Wallet supports multiple currencies in one place.
Faster, cheaper transfers: Banks often rely on SWIFT only. Wallets use local payment rails where available, so cross‑border transfers can be quicker and lower cost.
Fund protection: Unlike bank deposits, which can be lent out and are insured up to certain limits (e.g., £120,000 in the UK under the FSCS), Wallet funds are safeguarded, not lent out, and always kept separate from the payment provider’s operational funds.
How your funds are kept safe
Your wallet isn’t a bank account, but your funds are protected through safeguarding:
Segregated accounts: Customer funds are kept separate from the provider’s operational funds.
No lending or investing: Your wallet balance is never lent out.
Regulation & licensing: Airwallex, our payment service provider, is licensed to operate in supported regions. See how Airwallex is licensed and regulated for details.
About deposit insurance: Wallet balances are not bank deposits and don’t receive bank deposit insurance like FSCS by default; regional protections (e.g., U.S. FDIC pass‑through via partner banks) may apply.
Supported currencies & account details
Dext supports wallets in several currencies, each with its own funding methods and account details:
Dext supports wallets in GBP, CAD, USD, EUR, AUD and NZD. You can open a wallet only if its currency is also supported and enabled in your connected accounting account.
You can move money between existing currency wallets. You can also fund eligible foreign currency supplier invoices from your base wallet, with FX applied when the payment run executes.
To add/receive funds, use the account details and payment methods displayed for the selected wallet. Availability varies by currency and account setup. Wallet currencies and payment destinations are different: a supported wallet currency does not mean every destination or transfer method in that currency is available.
Using wallet in Dext
This section covers the everyday actions you can take with your wallet: viewing balances, opening a currency wallet, adding funds, moving money between wallets, and paying international supplier invoices.
View your wallet balances
Follow these steps to see the balances and transactions for a specific currency wallet:
Go to Payments > Wallet.
Complete Strong Customer Authentication (SCA) on your device to verify your identity (SCA is an extra identity check required by PSD2 to reduce fraud, for example, an app approval, code, or biometric check).
Use the currency selector at the top of Payments > Wallet to select the wallet you want to view. The balances and transactions shown belong to that wallet.
You can view all wallet transactions listed under the selected wallet.
If you have bank feeds enabled with Xero, you'll see the Exported status for each transaction. Dext sends wallet transactions early the next day for all transactions from the previous business day.
QuickBooks Online doesn't support bank feeds for Dext Payments because QuickBooks Online doesn't offer a public API for sending transactions automatically. This means wallet transactions won't be sent automatically to your QuickBooks Online account, but you can export them as a CSV file and bring them into QuickBooks Online manually. Go to Payments > Wallet > Export, download a CSV of your transactions, then open the QuickBooks file upload page and upload the CSV. You can open the QuickBooks file upload page directly from the link shown on the Export transactions dialog. For full steps, go to Dext Payments: Pay supplier invoices and expenses with Dext Payments
At the top of the screen, you can view the linked Xero or QuickBooks Online bank account and disconnect the bank feed if needed.
You’ll see these balance types:
Total in wallet – The total amount in this wallet, including available and pending funds.
Funds available – Money you can spend, transfer, or withdraw now.
Amount pending – Transactions that are processing and not yet cleared.
Reserved amount – Funds temporarily held for risk management or upcoming transactions; unavailable until released (a “reserve” is a temporary hold on a portion of transactions).
Prepayment amount – Funds held as collateral when you book future-dated FX conversions or similar; the prepayment is taken now, and the remainder is settled later.
You can view all transaction details directly below your wallet balances.
Open an additional currency wallet
You need Payments Admin access to open a wallet.
Go to Payments > Wallet.
Open the currency selector and select Add wallet.
Choose the currency, then select Open wallet. If your connected accounting software doesn't support the currency yet, Dext shows an error asking you to add the currency there first, then try again.
Once the wallet is open, connect it to your accounting software if it isn't already connected. If you see a banner asking you to connect the wallet, select Connect wallet to create the matching bank account in Xero or QuickBooks Online.
You can't open another wallet in a currency you already hold, and you can't use a wallet for payments until it's connected to your accounting software.
Add funds to your wallet
Go to Payments > Wallet and select the currency wallet you want to fund.
Select Add funds, or Add or request funds where shown.
Follow the instructions for a payment method available for the selected wallet, using the account details displayed. Funding methods and account details can differ between currency wallets.
The button may show as Add funds or Add or request funds, depending on the wallet's currency and whether Open Banking top-ups are available for it. Open Banking top-ups are currently available for GBP wallets in the UK only. For steps, go to Dext Payments: How to top up your wallet using Open Banking (UK Only)
Important: Before submitting a payment, make sure the selected funding wallet has enough available funds for the payment and applicable fees. Pending funds are not available to spend.
Move money between wallets
You can convert money between existing wallets in different currencies. You need Payments Admin access, and both wallets must already be open.
Go to Payments > Wallet and select Move money.
Choose the From and To wallets.
Enter either the amount to send or the amount to receive. Dext calculates the corresponding amount in the other currency.
Review the exchange rate and amounts. Use total balance selects the available balance of the source wallet.
Select Move money to submit the conversion, then check the wallets for updated activity and balances.
Important: If the quote expires and the rate changes, review the new rate and select Move money again. You cannot submit a conversion that exceeds the source wallet's available balance.
Withdraw funds from your Wallet
Only Payment Owners can withdraw funds from the wallet.
To withdraw funds:
Go to Payments > Wallet.
Click Withdraw.
Enter the following details:
Entity type: Company or Individual
Account name
Sort code
Account number
Amount
Submit the withdrawal request.
The payment owner will now receive a notification on their mobile device, detailing all the information.
If you're happy with all of this information, either select Authorise or Decline.
Submit the withdrawal request.
The funds are now on their way to your bank account.
You can now view the transaction details in your wallet.
Export wallet transactions
You can export your wallet transactions as a CSV or a PDF statement, depending on what you need them for.
To export your transactions:
Go to Payments > Wallet and select the currency wallet whose transactions you want to export.
Complete Strong Customer Authentication (SCA) on your device to verify your identity.
Select Export.
Choose CSV or PDF.
Tip: Before you export, select the filter icon next to the linked bank feed at the top of the page to narrow the list by description, amount, or date. Only the transactions currently shown in your list are included in the export.
The PDF statement is a formal, tamper-resistant record of your wallet activity. It includes the wallet name and the statement period, along with a summary of your opening and closing balances and total money in and out. Each transaction is listed with its date, description, and separate money in, money out, and running balance columns, so you can check your balance at any point in the period. This makes it useful for month-end reconciliation and for accounting and audit teams who need supporting documentation for compliance checks.
The CSV export is designed mainly for accounts integrated with QuickBooks Online, since wallet transactions aren't sent automatically there. For steps on uploading the CSV to QuickBooks Online and reconciling it, go to the Payment reconciliation (QuickBooks Online) section of Dext Payments: Pay supplier invoices and expenses with Dext Payments.
Frequently asked questions
Is my wallet a bank account?
Is my wallet a bank account?
No. It’s an e‑money Wallet. Your balance is safeguarded (segregated and not lent out), but it’s not a bank deposit, and deposit insurance schemes don’t apply the same way as banks. Region‑specific protections may apply (e.g., FDIC pass‑through in the U.S.).
Can I get local account details to add/receive money?
Can I get local account details to add/receive money?
Open a supported currency wallet and use the funding details shown for that wallet. Available methods and account details depend on the currency and your account setup.
Do I need a foreign-currency wallet to pay an international invoice?
Do I need a foreign-currency wallet to pay an international invoice?
Not always. Your base wallet can fund eligible invoices in supported foreign currencies, with FX applied when the payment executes. A matching currency wallet lets you pay from funds already held in that currency.
Why can't I see Add wallet or Move money?
Why can't I see Add wallet or Move money?
Opening wallets and moving money require Payments Admin access. Move money requires another existing wallet. Add wallet is shown only while additional supported currencies remain available to open.
Is the exchange rate fixed when I create a payment run?
Is the exchange rate fixed when I create a payment run?
No. The creation screen shows an estimate; the actual rate is set when the run executes. Moving money between wallets uses a separate quote, which you review before submitting the conversion.
What if Strong Customer Authentication (SCA) fails on my device?
What if Strong Customer Authentication (SCA) fails on my device?
Make sure notifications are enabled, your authenticator/app is up‑to‑date, and you have connectivity. Then retry SCA.
Payments videos
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Payments in Dext: Onboarding and regulatory 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 |