You can now fund your Bitso account with US dollars, via wire transfer. Read these following instructions to learn how to do so.
Before you Start make sure that:
- Your account is at the right level for the amount of USD you wish to receive (bitso.com/user/level)
- The name on your bank account is the exact same as the name of your Bitso account
- Your bank supports WIRE transfers
- You have activated USD on your Bitso Account
How To Receive USD via Wire Transfer
Find the details for your wire transfer within your USD Balance → deposit
Initiate the wire transfer from your bank account
Your funds will show up in your Bitso account in 1-3 business days
Make sure you add all details, including the reference number, otherwise your deposit of USD won’t arrive and your funds will be lost.
FAQ about USD Deposits to Bitso
Does Bitso accept other methods of deposits besides wire transfers for USD?
For the moment you can only use wire transfer to deposit USD. Hopefully we can add more options soon.
You can deposit any of the USD stablecoins we have via the blockchain.
What are the costs involved in receiving US Dollars?
Bitso charges a fee of $10 USD per transaction, which means that if you deposit $200, $190 will be added to your account.
There might be other cost involved on the side of your bank, over which Bitso does not have any control
Can I send USD from an account that is not under my name?
Only funds sent from accounts that match the name of your Bitso account exactly will be credited. Any other funds cannot be accepted and will either be lost, or returned and incur extra fees.
Can I send USD using my CVU?
For the moment we can only accept wire transfers. Any funds sent via any other method can get lost without possibility of recovery.
How long does it take for the USD to show up in my Bitso Account?
On average it takes between 1 and 3 business days for USD to be credited to your account. That means that funds sent on a Thursday should show up at the latest on Tuesday, but could arrive as early as Friday.
The difference in time depends on the banking institution you use.
Can I withdraw funds via a Wire Withdrawal?
Yes. Currently, our Wire Withdrawal process is limited as we only process wire withdrawals of 15,000 USD or more. We are working on enabling wire transfers of smaller amounts, but for the time being, you can withdraw smaller USD amounts via Stablecoins with no minimums.
Note that Wire Withdrawals incur a fee of 30 USD.
Does Bitso accept International Wires?
Yes Bitso accepts International Wires! Please ensure that all international wires you initiate are in USD which will guarantee faster processing and will ensure that you do not incur any hidden FX fees throughout the wire transfer process.
What do I do if my USD has not arrived?
If it has been over 4 business days and you have not yet received your USD into your business account, please contact support with the following information:
- Proof of the successful completion of the wire transfer from your bank
- Name of your bank
- Country of your bank
- Exact amount
- Date of sending
- Information you used to send the wire transfer