Guide for using your USD bank details in 2019

Wise
20.12.18 (updated more than 1 year ago)
2 minute read

You can use your USD bank details to get paid by friends, clients, and businesses in the US. Here’s a guide explaining how to use them and some important changes you’ll see in 2019.

Your account comes with two different routing numbers

Your Wise account comes with two different routing numbers: an ACH (automated clearing house) routing number and a wire routing number. These are both connected to your one account number and one account holder name.

The differences between ACH and wire can be confusing – sometimes a third party payer could pay you via wire, and then sometimes they could use ACH. And you may not know which one they use.

Here are some of the general differences. Use them as a guide when deciding which routing number your payer may need.

ACH routing number Wire routing number
  • Only people or businesses in the US or with a US bank account can use ACH to pay you
  • Best for being paid a salary or receiving earnings from platforms like Amazon and Stripe
  • Best if you’re not in a rush
  • Usually free or cheaper than a wire transfer for the payer
  • To accept payments, your account holder name may not need to completely match the account name on the ACH payment
  • People inside the US can use your wire routing number to pay you
  • Best if your payer intends to make a same-day wire transfer
  • Can be more expensive for the payer than ACH
  • If your payer has an account in certain countries outside the US, you can reach out to us so we can generate the SWIFT code from your wire routing number, which they can use to pay you
  • To accept payments, your account holder name must entirely match the account name on the wire transfer
    •

    More info here

    When do I use what routing number?

    Here are some common situations that may help you figure out when to use your Wise ACH or wire routing numbers with whoever needs to pay you. If you have questions, you can also ask the third party you want to be paid by.

    Use your ACH routing number Use your wire routing number
    • If you want someone to pay you automatically or on a recurring basis
    • If you want to withdraw USD from Upwork or Amazon into your Wise account
    • If you want to withdraw USD from a payment service provider (PSP) like Stripe into your Wise account
    • If you’re receiving a direct deposit
    • If you don’t need to be paid immediately by someone in the US
  • If you need to get paid immediately from an account in the US
  • *If you’re being paid by someone with a foreign bank account, we can generate the SWIFT code they need using the wire routing number

    • Why are ACH payments cheaper?

    One of the main difference between ACH payments and wire transfers is that banks process ACH payments in bulk, rather than individually. This means they generally take longer, but also cost a lot less. So if you’re not in a rush, an ACH payment might be a good option.

    Because wire transfers are faster than ACH transfers in the US, they are more expensive. An international wire, which means you’re being paid from an account in a foreign country, is more expensive because they can be processed by up to 3 different banks. They can all charge their fee, as can the receiving bank.

    Important to know about how you use your USD details

    Wire transfers into the USD borderless accounts after August 5 2019 need to include Wise in the address field for the wire transfer. The address Wise provides already includes this information.

    When providing a third party your USD borderless details, provide the name on the account.

    More info here.

    *Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.

    This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

    We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.

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