Using Wise to Receive USD
Accepting USD abroad can be challenging if you opt to skip LiquidTrust's Principal Protection and don't know what kind of fees your bank or another bank handling your transaction will take from your payment. One way to avoid these is to use a bank domiciled in the United States, or via a virtual account at Wise or Payoneer, which allow you to accept USD as if you were living in the US.
When you use Wise or Payoneer, your withdrawal may be subject to a simple fee from LiquidTrust, but no other fees will be removed before it reaches your USD account.
How to open an account at Wise.com
- Sign up for Wise (use your email or social login).
- Complete ID verification (ID + selfie, depending on your location and usage, additional verification may be requested.).
- Open a USD balance.
- Add minimum funds (~20 GBP equivalent).
- Click Get account details.
How to enter your Wise account details on LiquidTrust
- Sign into your LiquidTrust account
- Go to Settings > Payment Methods and select +New Payment Method
- In the Add Payment Method form, select Country: United States, Currency: US Dollar, Bank Account Type: Checking. Fill in the rest with the account details from your Wise account. If your account has multiple routing numbers available, use the number for ACH or domestic transfers.
- Enter in the Account Holder Name. This must match your business name, or your personal name if your Business Type is Individual or Sole Proprietor.
- Ensure all fields are correct and click Save
Account Validation
LiquidTrust will need to validate your bank information before you can use the account. To expedite validation, please upload your Wise Proof of Account Details form. The following URL describes how to obtain this document; https://wise.com/help/articles/2977999/how-can-i-get-an-account-details-document
Once you have the document, please upload it to your LiquidTrust account by going to Settings, Documents, click Payment Methods Documents tab, + Upload new document