In order to make fiat transfers, we need to know about the bank account you will be using. You will be prompted to add a bank account if you go to Tokenize or Redeem.
Bank accounts we support
- We are able to support wire transfers from the following countries: Andorra, Angola, Anguilla, Argentina, Australia, Austria, Azerbaijan, Belgium, Benin, Bermuda, Brazil, Bulgaria, Burkina Faso, Cambodia, Cameroon, Canada, Cayman Islands, Chad, Chile, Croatia, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Guam, Guatemala, Guernsey, Holy See (Vatican City State), Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Isle of Man, Israel, Italy, Japan, Jersey, Jordan, Kenya, Republic of Korea, Latvia, Liechtenstein, Lithuania, Luxembourg, Madagascar, Malawi, Malaysia, Malta, Mexico, Monaco, Mozambique, Netherlands, New Zealand, Niger, Norway, Peru, Philippines, Poland, Portugal, Puerto Rico, Romania, San Marino, Senegal, Singapore, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland, Taiwan, Tanzania, Thailand, Turkey, United Arab Emirates, United Kingdom, United States (excluding AK, HI, MN, NY), Uzbekistan, Vietnam, British Virgin Islands, U.S. Virgin Islands.
- This bank account must be in the name of the institution you are representing.
- In order to tokenize fiat currency into USDC, the bank account must be able to make wire transfers to our US bank account, attaching a reference number.
- We currently cannot support redemption to accounts that require an intermediary bank to receive USD wires.
- We currently cannot support accounts that require FFC (for further credit) payment instructions. Examples of these accounts are brokerage and investment accounts, accounts that leverage third party payment processors, and challenger banks without their own banking license.
Information we require
The information we require is dependent on the location of your business, but in general we need the following:
- Information about the bank
- Bank name
- Bank identifier (Fedwire ABA number for US accounts, SWIFT / BIC for non-US accounts)
- Bank address
- Information about your bank account
- The account number
- The business name on the account
- The address your bank has on file for your account
We need this information to validate incoming wire deposits for tokenization into USDC, and to initiate wires to your bank account for redemptions.
Verifying your bank account
There are two levels of verification for your bank account, depending on the action you would like to carry out first:
- To mint fiat currency into USDC: we will immediately send you an email with a link which you must click to confirm addition of your bank account. Once this is done, you are ready to deposit USD to your Circle account.
- To redeem USDC for fiat currency: if you have previously made a wire transfer to our bank account to tokenize fiat currency into USDC, your bank is automatically verified for redeeming USDC. If you have not made a bank transfer previously, we require two steps to enable your bank account for USDC Redemption.
- Email Verification: click the email link to confirm addition of your bank account
- Deposit Verification: in order to verify that the bank account is in your name and that you have control of the account, we require that you make a small wire (~$5) to our bank account. Once your deposit has been reviewed and confirmed, your test wire will become available in your USDC balance, and your bank account will be enabled for USDC Redemption.
Bank Account Linking FAQ
I did not receive a bank account confirmation email.
Check your spam filter. If you are unable to locate the email, try adding your bank account again, and contact support if you continue to have issues.
I confirmed my bank account via email, but the app is still requesting that I add a bank.
You may have added incorrect information. Please try adding your bank account again, and contact support if you continue to have issues.
Why am I required to make a wire transfer to tokenize USD before my account is enabled for redemption?
KYC and AML regulations require us to understand the origin and destination of money transfers. Before we can send the proceeds of Redeeming USDC to your bank account, we need to verify that the account is in your name, and that you are in control of it, which we can do when you make a wire transfer to our account.
What if my bank account name and address do not match my account details?
Account name and address mismatches will result in transaction delays as our team conducts a review, and may result in wire deposits being returned (with our “rejected wire fee” deducted).
When will you be able to support brokerage accounts?
We are not currently able to support deposits or withdrawals from brokerage accounts.
The billing address that my bank account has on file is not exactly the same as the address on my Circle USDC Account, what will happen?
We check the billing address that your bank has on file on every incoming wire we receive. If there is a mismatch it will be reviewed by our team, which may introduce a delay on your tokenization. If our team determines that the addresses do not match, the wire will be returned to your account, with our “rejected wire fee” deducted.