How do I receive USD?
To receive USD, you need to share your USD account details with the sender, depending on where the payment is originating from.
If payment originates from within the US
There are 2 ways to receive money locally in the US.
ACH: If the sender can use ACH transfers in the US, then share your ACH details - Account number, Routing number, and bank details, with the sender. ACH transfers take between 1 - 5 business days to get credited, depending on the sending bank. There is no fee to receive ACH transfers (and the sender should also not see any fees to send)
Fedwire: If the sender cannot use ACH, then share your Fedwire details. Fedwire is credited within 1-2 business days. There is a fee of USD 10 to receive the Fedwire. Sender's bank may also charge a fee to the sender.
If payment originates outside the US
Share your SWIFT account details with the sender. There is no limit on the amount you can receive. The time it will take for the money to reach you is dependent on the sending and intermediary banks. You will receive the full amount (minus the SWIFT receipt fee) if the person/company sending the SWIFT Transfer has chosen a SWIFT (OURS) transaction. You may receive a reduced amount if the sender has chosen SWIFT Shared (SHA) when initiating the SWIFT transfer from their bank, as intermediary banks may deduct fees.
The SWIFT account details are unique to you and can be found in the details section of your USD account.