Q: Guidelines for receiving payments to your USD bank account

Congratulations on setting up your new US bank account! <hr /> Please note the following: <ul> <li>Only ACH and Wire transfers are allowed when receiving funds.</li> <li>If a local US Address is required, the bank's address can be used as the recipient's.</li> <li>The maximum you can receive per transaction is $100,000 for 1st party deposits and $2,000 for 3rd party deposits.</li> </ul> ACH TRANSFERS <ul> <li>The Automated Clearing House (ACH) is an electronic funds transfer system that facilitates payments in the US. It is the local/domestic payment network used by banks within the US.</li> </ul> WIRE TRANSFERS <ul> <li>Wire transfers are a secure and efficient method to send or receive money domestically or internationally via SWIFT.</li> </ul>

Q: What are the fees and rates?

Here are the charges and fees attached to our USD account <ul> <li>You will be charged an activation fee of $5. This will be deducted from your first deposit to your account.</li> <li>You have to fund your account with a minimum of $5.</li> <li>You will be charged 1% on every deposit made into your account.</li> <li>There are no other fees charged to maintain or use your account.</li> </ul>

Question 1

What is an Onboard Virtual Card and where can I use it?

Accepted Answer

The Onboard Virtual USD Card is an extremely reliable and convenient option for everyday purchases, providing you with a seamless way to convert your local currency or stablecoins to USD. You have the flexibility to fund it through various channels, including your local bank account, your Onboard Wallet balance, or from external wallets such as Coinbase.

Once funded, you can use it for transactions wherever VISA is accepted, just like a physical bank card.

Question 2

How can I add money to my virtual card?

Accepted Answer

Funding your card is super easy. Go to your card dashboard and click "Fund". You'll see three options to choose from:

Use your Onboard Wallet balance
- Select "Onboard Wallet" as your funding method, add your preferred amount, and choose the stablecoin you want to transfer from your Onboard Wallet balance to your virtual card balance. Confirm the transfer details and voila!

Your card is now loaded with USD and can be used anywhere VISA is accepted.

Transfer funds from an external wallet
- If you have an external wallet or want to receive funds from someone else directly to your virtual card, you can choose this option.
- Select "External Wallet" as your funding method, add your preferred amount, and choose the stablecoin you want to transfer from your external wallet address to your virtual card balance. Next, deposit the exact amount shown on your screen to the wallet address provided by using the external wallet of your choice.

Once the deposit is complete, your account will be topped up with USD.

**Pro tip: Always double-check the network and wallet address for your transaction to prevent any losses. We won't be able to recover any funds lost due to incorrect information.**

Make a bank transfer
- Select "Cash transfer" as your funding method, add your preferred amount, confirm the transfer details, and make a payment to the bank account shown on your screen.

Once the transaction is confirmed, you'll be ready to

Question 3

Can I withdraw money from my virtual card?

Accepted Answer

We know how important it is for you to have access to your funds, so we've made it easy for you to withdraw them whenever you need to. However, please ensure that you leave the minimum required balance on your card to keep it active.

To withdraw funds, simply go to the card dashboard and select the “More” icon, followed by the “Withdraw” option. You'll have three withdrawal options to choose from:

Send money to your Onboard Wallet address
- Just choose the stablecoin you prefer to receive your USD balance in and the amount you want to withdraw. Double-check the withdrawal details and click on "Confirm". Your funds will be transferred to your Onboard Wallet address in no time!
Send money to an external wallet address
- If you'd rather deposit your funds into an external wallet address, just choose the stablecoin you prefer to receive your USD balance in and the amount you want to withdraw. Then, add the address where you want to deposit funds, double-check the withdrawal details, and click on "Confirm". Your funds will be transferred to the external wallet address immediately.
Send money to a local bank account
- If you prefer to send your funds to a local bank account, just select “Local currency” as your withdrawal option, add your preferred amount, followed by the bank account you want to send the funds to. After confirming your details, click “Confirm” and you're good to go!

**Remember to always double-check the network an

Question 4

Guidelines for receiving payments to your USD bank account

Accepted Answer

Congratulations on setting up your new US bank account!

Please note the following:

Only ACH and Wire transfers are allowed when receiving funds.
If a local US Address is required, the bank's address can be used as the recipient's.
The maximum you can receive per transaction is $100,000 for 1st party deposits and $2,000 for 3rd party deposits.

ACH TRANSFERS

The Automated Clearing House (ACH) is an electronic funds transfer system that facilitates payments in the US. It is the local/domestic payment network used by banks within the US.

WIRE TRANSFERS

Wire transfers are a secure and efficient method to send or receive money domestically or internationally via SWIFT.

Question 5

What countries are supported for local bank withdrawals?

Accepted Answer

For local bank withdrawals, these are the countries we support at the moment:

Nigeria - NGN 🇳🇬
Kenya - KES 🇰🇪
Mauritius- MUR 🇲🇺
Ghana - GHS 🇬🇭
Uganda - UGX 🇺🇬
Indonesia - IDR 🇮🇩
Philippines - PHP 🇵🇭

Question 6

What are the fees and rates?

Accepted Answer

Here are the charges and fees attached to our USD account

You will be charged an activation fee of $5. This will be deducted from your first deposit to your account.
You have to fund your account with a minimum of $5.
You will be charged 1% on every deposit made into your account.
There are no other fees charged to maintain or use your account.

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