Receiving USD Payments via Wise

If you are a Payee located outside the U.S., using a virtual bank account service like Wise or Payoneer can help you receive USD payments faster and avoid unpredictable intermediary bank fees. By using a virtual account, your Withdrawal may be subject to a single, simple fee from LiquidTrust, but no other fees will be removed before the funds reach your USD account.

Step-by-Step Instructions: Linking Your Wise Account

To successfully link your Wise account as a Payment Method in LiquidTrust, you must first set up a USD balance in Wise.

1. Set Up Your Wise USD Balance

1. Sign up for Wise.
2. Complete the required ID verification (KYC/KYB), which may include providing a photo ID and a selfie.
3. Open a USD balance within your Wise account.
4. Add minimum initial funds (often around 20 GBP equivalent, as required by Wise).
5. Click Get account details to obtain the domestic routing and account number.

2. Add Wise as a Payment Method in LiquidTrust

1. Sign into your LiquidTrust account.
2. Go to Settings → Payment Methods (via the gear icon) and select +New Payment Method.
3. In the form, select: Country: United States, Currency: US Dollar, and Bank Account Type: Checking.
4. Fill in the rest of the form with the ACH or domestic transfer account details provided by your Wise USD balance.
5. Enter the Account Holder Name. This name must match your business name, or your personal name if your Business Type is Individual or Sole Proprietor.
6. Ensure all fields are correct and click Save.

3. Submit Proof of Ownership

To validate your bank information, you must upload your Wise Proof of Account Details form:

1. Obtain the required document from Wise. The URL below describes how to get this document: https://wise.com/help/articles/2977999/how-can-i-get-an-account-details-document.
2. Once you have the document, go to Settings → Documents.
3. Click the Payment Methods Documents tab.
4. Click + Upload new document and upload the Wise Proof of Account Details form.

Why This Matters

Accepting USD payments from outside the U.S. can be complicated. By using a Wise virtual account, you effectively receive the transfer as if it were a domestic ACH transfer in the U.S. This simple setup avoids the multi-bank intermediary chain that can result in unpredictable correspondent bank fees and ensures you receive the full expected payment amount (minus the LiquidTrust Withdrawal fee).

Payments to Wise, Payoneer, or other US banks in Liquid are:

• Subject to $5 or $0 withdrawal fee, depending on your country.
• Free of any further intermediary or correspondent bank fees, thus the Principal Protection option is never necessary here.
• Faster to arrive than other international wire payment methods.