Receive payouts via local wire transfer in USD (USA ACH)
Overview
Local bank transfer in USD (USA ACH) is a transfer of funds between banks within the United States, performed within the Automated Clearing House (ACH) network. You value this method for its reliability, convenience, and speed, as it provides a direct transfer from one bank account to another within the country.
Supported currencies
- US dollar (USD)
📌 If the currency of your balance in Smartcat is not USD, the funds are converted to USD using the Smartcat exchange rate.
Commission
2.5 USD + 0.5% of the withdrawal amount. The fee is converted into the payout currency at the time of the transaction.
Minimum and maximum payout amount
From 10 USD to 100,000 USD.
Smartcat allows you to set the minimum amount, starting from which the payment is sent to you. You can learn more in the article Minimum payout amount.
Required details
| Field | Individual | Company | Description |
|---|---|---|---|
| Beneficiary's type | ✓ | ✓ | Individual or company beneficiary |
| Beneficiary first name | ✓ | ✕ | Beneficiary's name |
| Beneficiary last name | ✓ | ✕ | Beneficiary's last name |
| Birth date | ✓ | ✕ | Beneficiary's birth date |
| Beneficiary company name | ✕ | ✓ | Beneficiary's company legal name |
| Account number | ✓ | ✓ | Beneficiary's bank account number |
| Routing number | ✓ | ✓ | Nine-digit transit route code, also called the ABA number, used in the United States |
| Recipient's account type | ✓ | ✓ | Savings or checking |
| SWIFT | ✓ | ✓ | 8-11 digit code identifying the country, city, bank, and bank branch |
| Bank name | ✓ | ✓ | Name of the bank where the beneficiary has an account |
| Recipient's country | ✓ | ✓ | Country of actual residence of the beneficiary or registration of the beneficiary company |
| Recipient's state (province, prefecture) | ✓ | ✓ | State (province, prefecture) of actual residence of the beneficiary or registration of the beneficiary's company (US, Canada, Mexico only) |
| Recipient's city of residence | ✓ | ✓ | City of actual residence of the beneficiary or registration of the beneficiary company |
| Recipient's address | ✓ | ✓ | Address of actual residence of the beneficiary or registration of the beneficiary's company |
| Beneficiary's ZIP code | ✓ | ✓ | Index of actual residence of the beneficiary or registration of the beneficiary's company |
Advantages
- Reliable. Bank transfers are an extremely secure way to receive money
FAQs
I chose this method, but the payment was rejected. Why?
Act as follows:
-
Make sure you provide payment details for local ACH bank transfer (not international SWIFT transfer)
-
Make sure that the postal code, city, street, and house number are specified in the corresponding fields of the details
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Make sure that you do not enter a PO box or email address instead of your residential address
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Check if your account number, routing number, and account type are correct
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Make sure that the name of the account holder is entered in the details exactly as it is in the bank details, including all spaces and symbols
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Make sure you specify the ACH routing number in the details, not the Wire routing number
I cannot find the payment. What does the payment look like on the bank statement?
The purpose of the payment indicates the payment ID in the format PO-XXXXXX-XXXXX, which you can find in the Payout History section.
SMARTCAT PLATFORM INC. or THE CURRENCY CLOUD LIMITED appears as the sender, depending on the beneficiary bank.
For which countries is this method available?
The method is available exclusively for receiving funds to a bank account in the United States of America.
I received a payment. What details should be used for billing?
When receiving funds by local bank transfer in USD, you need to enter the following Smartcat details in your invoice:
Company name: Smartcat Platform Inc.
Company address: 2810 N Church St PMB 50985, Wilmington, Delaware, 19802-4447, USA
Still need help?
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