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Guidelines for receiving payments to your US bank account
Guidelines for receiving payments to your US bank account

The dos and don'ts of your US bank accounts.

Grey Support avatar
Written by Grey Support
Updated yesterday

Congratulations on setting up your brand-new US bank account! Please note the following:


PAYMENT SCHEME

  • Your US bank account is addressable only in ACH TRANSFERS. The account type is Checking.

  • If a local US Address is required, the bank's address can be used as the beneficiary's.

  • Incoming ACH transactions will only be allowed from the following originating institutions: Citibank, JPMorgan Chase, Bank of America, Barclays, ABN Amro, Paypal, Deel, Upwork Escrow, and Payoneer.

  • The maximum you can receive per transaction is USD 10,000. These restrictions will apply from 28 May 2024

  • To avoid doubt, incoming ACH transactions from institutions not listed above and/or having a value greater than USD 10,000 will be blocked and returned to the sender.

  • Receiving payments with your US bank account can take 1-3 business days.


ACH TRANSFERS

  • 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.

  • Receiving payments via ACH has a 1% fee.

  • To receive payments via ACH, use the ACH routing number.

  • Incoming ACH transactions from institutions not listed above and/or having a value greater than USD 10,000 will be blocked and returned to the sender.

Permitted Jurisdictions/Countries

You can find the complete list of countries here. Funds sent from banks, countries, or platforms outside this list will be rejected and automatically fail.

Your payment will not be received if the sender's address is from a non-supported jurisdiction.

This also applies to platforms like PayPal; if you have an account from a country that's not supported, your payment will not be received.


SWIFT TRANSFERS

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