Getting Started
Guidelines for receiving payments to your USD bank account
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. IFeaturedHow can I create a USD account on Onboard?
In todays world, having access to a USD account offers a multitude of benefits regardless of where you are in the world.
To create a USD account, you need to:
Download the Onboard app via https://www.onboard.xyz/
Create an account by filling in your personal data
Complete your KYC and your account will be verified.FeaturedWhat documents do I need for the KYC verification?
The USD Virtual Account is specifically for receiving international USD transfers and payments.
Payments like - ACH Payments, Direct Transfers from your local bank account, Transfers from a USD account.FeaturedHow can I fund my USD account on Onboard?
To fund your USD account, you need to:
Login to your account
On the home page, click on Account
Click on the “+ Add” option
Your new bank account details will be displayed on the screen, you can copy your details and initiate a transfer.FeaturedWhat are the fees and rates?
Here are the charges and fees attached to our USD account
You will be charged an activation fee of $2
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 fees charged to maintain / use your account.FeaturedWhat types of transfers can I receive with this account?
The USD Virtual Account is specifically for receiving USD transfers and payments.
Payments like - ACH transfers and Wires.
You cannot receive transfers that are not in USD.FeaturedWhere will the funds received via this account number go (be credited into)?
Any funds sent to your Onboard USD virtual account number will be credited to your Onboard USD wallet.Few readersDo I need to create a USD Virtual Account to get a USD Virtual Card?
No, the USD virtual account and the USD virtual card are two distinct products. The USD virtual account is for receiving USD payments, while the USD virtual card is for making online payments.Few readersIs the account creation fee refundable?
No, the account creation fee is non-refundable.Few readersIs there a minimum balance requirement for the USD Virtual Account?
None at the moment. However, ensure you have the activation fee of $2.Few readers