Local wire transfers in USD (USA ACH)
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. This method is valued 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)
Please note that if the currency of your balance in Smartcat is not USD, the funds will be converted to USD using the Smartcat exchange rate.
Commission
No commission.
Minimum and maximum payout amount
From 5 USD to 100,000 USD.
Smartcat allows setting the minimum amount, starting from which the payment will be 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/registration of the beneficiary company |
Recipient’s state (province, prefecture) | ✓ | ✓ | State (province, prefecture) of actual residence of the beneficiary/registration of the beneficiary's company(US, Canada, Mexico only) |
Recipient's city of residence | ✓ | ✓ | City of actual residence of the beneficiary/registration of the beneficiary company |
Recipient's address | ✓ | ✓ | Address of actual residence of the beneficiary/registration of the beneficiary's company |
Beneficiary's ZIP code | ✓ | ✓ | Index of actual residence of the beneficiary/registration of the beneficiary's company |
Advantages
Free. Smartcat does not charge you a fee for withdrawing funds using this method.
Reliable. Bank transfers are an extremely secure way to receive money.
Frequently Asked Questions
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.
Make sure that you do not enter a PO box or email address instead of your residential address.
Check if your account number, routing number, and account type are correct.
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.
Make sure you specify ACH routing number in the details, not 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