How much does it cost to open the account?
There is no cost to open a Virtual US Account in Vesseo.
How much does it cost per month?
Your Virtual US Account in Vesseo has no maintenance charges.
How much does it cost to receive money?
Receiving money in your virtual account has a 1.0% fee. Payments may take 2 to 3 business days to reflect.
How do I open the Virtual US Account?
To open a virtual account, click “Add,” choose “US Bank Transfer,” and complete the identity verification (KYC) with our partner Bridge.
What fee is charged when depositing via ACH into my Virtual US Account?
ACH deposits have a 1.0% fee. Funds may take up to 3 business days to reflect.
| Note: If you deposit via ACH, your funds will automatically show up as USDC. No manual conversion is needed. The 1.0% fee will apply. |
What fee is charged when converting to USDC?
There is a 1.0% fee on incoming payments. The funds will appear directly as USDC in your account.
Does Vesseo provide SWIFT codes or account numbers to its Customers?
Virtual accounts with Vesseo do not currently support SWIFT payments, only ACH and US domestic wires.
I am being asked for a 3-letter code by Plaid that was sent to my virtual account. Where can I find this code?
The 3 letter code is included as part of the descriptor of the microdeposit.
What types of transactions can I receive in my virtual account?
Virtual accounts are fully permitted to receive the following transactions for non-US residents.
- First-party payments where you are sending USD from your bank, fintech app, or brokerage account
- Third-party payment where a registered business sends USD from its bank account
- Third-party payment from a family member’s bank account, where you share a surname
- Third-party Person-to-Person payments, up to $4,000 per transaction (via ACH or Wire). There are no monthly or annual limits.
- Business to Person: No limits.
The following types of transactions are fully permitted to be received by virtual accounts for US residents:
- First-party payments where you are sending USD from your bank, fintech app, or brokerage account
- Payroll payments from businesses
Please note: Microdeposits are not supported at the moment. The minimum deposit amount is $1 USD.
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