Your USD local account allows you to receive payments locally in the USA.
With your USD local account bank details, you can receive from anyone, yourselves, and your clients. For those paying into the account, it will be the same as paying any other domestic/local bank account in the USA.
There is no need to create a top-up, we will credit the funds to your USD account as soon as we receive them. You can then use these funds to transfer as you normally would through the Verto platform.
How to open a USD local account
To open a USD local account first, you must have a USD wallet. Select get account details, select USD and submit your request.
If you can not see get account details it means you are not automatically eligible for a global account. Please fill in this form to apply for global account access.
What are the settlement details?
You will be issued a unique set of details for your business, with a dedicated account number.
Account Name: The account is held in the name of the business registered on the Verto platform.
Account Number: Unique to your account/wallet
ACH Routing Code: ACH routing numbers are nine-digit numbers unique to the financial institution. You should send this to those you want to receive payment from.
Wire Routing Number: Wire routing numbers are nine-digit numbers unique to the financial institution. You should send this to those you want to receive payment from.
Bank: The name of the bank that issued the account number.
Bank Address: The address of the Bank.
Why do I have two routing codes?
Our banking partner has issued Verto with two routing codes for the two different payment methods in the USA.
You should provide both of these to the sending party so they can choose how to send the payment.
To send a payment via ACH they should use the ACH routing code. To send a payment via Wire they should use the wire routing code.
Who can pay into these accounts?
Anyone with a local USD bank account in the USA.
What name is the account in?
The account is held in the name of the business registered on the Verto platform. When sending funds to your USD local account you should send them to your registered business name.
Can I use this account to receive USD from outside of the USA?
No, right now you can not use this account to receive from outside of the USA. Verto has an alternative product - USD Global accounts for this use case. For more information contact email@example.com
In general, you already have a local USD account there are no additional checks needed to open a global USD account.