One USD Account to Collect, Pay and Spend Across the World

What the USD Account Is

A USD virtual account is a dedicated US-dollar account, issued in your own name or your company's own name, that you open and run entirely online. It gives you a real account into which clients and partners anywhere in the world can pay you - in almost any source currency - with everything settled into a single, consistent USD balance.

Unlike a card or a wallet bolted onto someone else's name, the account belongs to you. Incoming funds are matched and reconciled automatically, the sender is validated against your name, and you are notified the moment money arrives. From the same place you can send money out across the world, with SWIFT reach in 200+ countries, and issue physical or virtual Mastercard cards to your team - so collection, payout and spend all live under one roof instead of across three different providers.

Because it is delivered through one API and one admin portal, the account behaves like banking infrastructure you can build into your own workflows, rather than yet another portal your finance team has to log into.

Note: the USD virtual account is a separate account from the Monvenience EU LT IBAN - manage from different dashboards. Many clients hold both; see pairing it with an EU IBAN below.

Who It Is For

This account is built for individuals and businesses that earn or spend across borders and are tired of the friction that comes with traditional banking:

• Cross-border marketplaces and e-commerce platforms collecting from buyers and settling sellers in multiple countries.
• Companies with distributed teams, contractors and remote workers - including global payroll, maritime crews and independent contractors - who need to be paid quickly across corridors.
• Fintechs and digital platforms that want card, wallet and account capability via API without holding their own banking licence.
• Businesses running high-volume digital advertising who need reliable commercial cards with spend controls, without surprise freezes.
• Creator-economy and platform businesses paying out to large numbers of contributors worldwide.
• Web3 and digital-asset platforms bridging crypto and traditional rails, needing fiat payout and treasury capability (subject to enhanced due diligence - see eligibility below).
• IT and professional-services companies collecting client payments internationally and paying overseas suppliers, contractors and partners.

Why Choose This Over a Traditional Bank Account

Opening a US-dollar or multi-currency account at a high-street bank - especially as a non-US business - is slow, document-heavy and often ends in rejection after weeks of effort. A USD virtual account is designed to remove exactly those pain points:

• No branch visit, no physical presence. The whole account is opened and operated online, from wherever you are. A traditional bank typically expects an in-person visit, a local entity, or sometimes both.
• Built for multi-currency from day one. You can accept payments in many source currencies and hold a clean USD balance, instead of juggling separate accounts or paying to convert through a bank that only really wants to handle its home currency.
• No heavy minimum deposit. High-street banks often demand large opening balances or maintain-or-be-charged minimums to give a business a USD account. The virtual account is built for working money, not locked-up deposits.
• Low cost of trying - and of being declined. A bank application can cost weeks of management time and still be refused with no explanation and nothing to show for it. Onboarding here is structured, online and fast, so a "no" is quick and cheap rather than a costly dead end.
• Fast, transparent cross-border payments. Traditional correspondent-bank wires take three to five business days with FX mark-ups and intermediary fees that only surface after the money has moved. Here, payouts are programmatic, the FX rate can be locked for up to 30 minutes, and every transaction is tracked end to end.
• One platform instead of three. Collections, payouts and card issuance sit in a single account and a single admin portal - replacing the separate banking, card and reconciliation systems a finance team would otherwise stitch together by hand.

At a glance

	USD Virtual Account	Traditional High-Street Bank
Opening	Fully online, no branch visit, issued in your own name	Branch visit and/or local presence often required
Eligibility	Built for applicants in accepted jurisdictions worldwide	Frequently restricted to local or resident entities
Currencies	Accept many source currencies, settle to USD	Usually home-currency first; multi-currency is extra
Opening balance	No heavy minimum deposit	Often a large minimum / maintenance balance
Cross-border speed	Programmatic payouts, FX locked up to 30 min	3-5 business days via correspondent banking
Cost of rejection	Quick, structured online decision	Weeks of effort, often refused with no recourse
Cards	Physical & virtual Mastercards on demand, with controls	Slow corporate-card procurement
Visibility	Real-time balance, tracking and reporting in one portal	Fragmented across multiple systems

Key Capabilities

1. USD Virtual Account Collections

Receive payments from clients and partners in almost any country and source currency, settled into one USD balance.

• Account issued in your own name, with one-time onboarding per entity.
• Near real-time account provisioning; available 24×7, including holidays.
• Automatic FX conversion to USD at competitive rates.
• Sender validated against your name on every receipt.
• Automatic reconciliation of all transactions, with webhook alerts on funds received and on status changes.
• High-value transactions supported: up to USD 3.6 million (SGD 5 million) per transaction.
• 70% of accounts activated within 72 hours.

2. International Remittance (USD Cross-Border Payouts)

Send USD payouts to suppliers, contractors and partners across borders - covering B2B, B2C and C2C - with SWIFT reach in 200+ countries.

• Add individual or business recipients, in advance or on the fly.
• Lock FX rates for up to 30 minutes; book a quote now and fund it later.
• Forward (fee included or excluded) and reverse quote types.
• Automatic compliance and risk checks on recipients and transactions.
• Stage-by-stage status notifications, automatic reconciliation, and automatic re-initiation on technical failure.
• Per-transaction payout limit on local corridors: USD 100,000. Larger transfers are supported over SWIFT.

3. Card Services

Issue Mastercard cards - physical or virtual - to employees, contractors and affiliates, linked to wallets inside your programme.

• General Purpose Reloadable (GPR) Mastercard, accepted at Mastercard merchants and ATMs worldwide (open loop).
• Issue, suspend, close and reissue cards via the admin portal or API.
• 3D Secure (3DS) authentication via email and mobile OTP.
• Granular spend controls: real-time budget thresholds and merchant-category (MCC) restrictions.
• Direct integration with major ERP and accounting systems for automated reconciliation.
• Limits after full KYC: up to USD 500,000 per transaction / USD 1,000,000 per month.

Indicative card-usage fees (network pass-through, confirmed at onboarding): ATM withdrawal 1%, cross-border 1.7%, forex 1.7%. A full schedule of account, transaction, and card fees is provided during onboarding, before you commit.

How It Works

The platform runs on a simple pre-funded model. In plain terms:

1. You open your USD virtual account online and complete a one-time verification.
2. Clients and partners pay into your account from anywhere; funds convert to USD and land in your wallet, reconciled automatically.
3. You pay out to suppliers, contractors and your team - or move money instantly between wallets inside the programme.
4. You issue Mastercard cards from the same balance, with spend controls, and watch everything in one real-time dashboard.

What You'll Need (Documents & Onboarding)

Opening the account is structured and online. Have the following ready before you apply.

Personal accounts

• Valid international passport
• Proof of address (utility bill or bank statement, issued within the last 3 months)

Apply Now

Business accounts

• Certificate of Incorporation / Valid Trade License
• Directors' / Shareholders' Identification Documents
• Directors' / Shareholders' Proof of Address (issued within the last 3 months)
• Articles of Association / MOA
• Company Proof of Address (issued within the last 3 months)
• Company Profile
• Financial Statements
• Business Email & Phone Number
• Regulator / Licensing Information (where applicable)
• Nature of Business & Activities
• Shareholding / UBO Details

Country-specific additional documents

Where the applying company is registered in one of these jurisdictions, the extra document(s) shown are also required.

Jurisdiction	Additional document(s) required
Malaysia	Company Profile from Suruhanjaya Syarikat Malaysia (SSM)
British Columbia (Canada)	BC Company Summary or Corporate Profile
United Kingdom	Companies House Certificate and Annual Return
Japan	Tokibo Tohon (Corporate Registry Certificate)
Germany	Handelsregisterauszug (Commercial Register Extract); Gewerbeanmeldung (Business Registration Certificate)
France	Kbis Extract; D1 Declaration
Switzerland	Commercial Register Extract (Handelsregisterauszug)
Netherlands	Extract from the Kamer van Koophandel (KvK)
Brazil	CNPJ (Cadastro Nacional da Pessoa Jurídica)
South Africa	CIPC Registration Document
Italy	Visura Camerale (Chamber of Commerce Extract)
Mexico	Constancia de Inscripción en el RFC
Republic of Congo	Trade Register Document (Registre de Commerce)
Djibouti	Trade Register Extract; Operating License
Kenya	Certificate of Compliance and CR12 Form
Nigeria	Corporate Affairs Commission (CAC) Certificate and Tax Clearance Certificate
Ghana	Registrar General's Department (RGD) Certificate
South Korea	Certificate of Business Registration
Spain	Registro Mercantil (Commercial Register Extract)
Indonesia	SIUP; TDP; NPWP; Deed of Establishment (Akta Pendirian); Domicile Certificate (Surat Keterangan Domisili Perusahaan); NIB (Nomor Induk Berusaha)
Philippines	SEC Certificate of Registration; Business Permit or Mayor's Permit; General Information Sheet (GIS)
Turkey	Trade Registry Gazette; Certificate of Activity

Onboarding follows a structured, milestone-based plan with a dedicated point of contact, moving from verification and configuration through integration and testing to go-live. 70% of accounts are activated within 72 hours of a completed application.

Eligibility & Acceptable Use

Accounts are offered to individuals and businesses in accepted jurisdictions. Applicants from certain countries and industries cannot be onboarded, and some industries are accepted only after enhanced due diligence.

Restricted countries

Applicants from these countries cannot be onboarded. Items marked * are subject to specific conditions - contact us for details before applying.

Country risk lists may change; the latest version applies.

Prohibited industries

• Shell companies
• Shell banks
• Atomic power
• Unregulated charities
• Red light business / adult entertainment
• Marijuana
• Gambling
• Non-regulated banking and finance in non-FATF member jurisdictions
• Illegal wildlife trade
• Illegal logging and timber trade
• Waste trafficking and illegal storage / disposal

High-risk industries (accepted only with Enhanced Due Diligence)

• Money or Value Transfer Services (MVTS) / Money Service Business (MSB), incl. money changing & remittance
• Regulated casinos and casino junkets
• Virtual currencies
• Corporate services providers
• Correspondent banks
• Payment service providers
• Art / antique dealers, auction houses, dealers in high-value goods
• Arms, defense, military
• Precious metals and stones
• Non-profit organisations (regulated charities, foundations, cultural associations, private educational institutions, religious organisations, private health institutions, voluntary welfare organisations)
• Non-government organisations (NGOs)
• Embassies / consulates
• PEPs / PEP-related / PEP close associates
• Regulated banking & finance entities in non-FATF member jurisdictions
• Real estate
• Licensed trust companies
• External asset managers

Industry lists may change; the latest version applies.

Compliance & Security

Security and compliance are built into the platform, not bolted on:

• PCI DSS compliant card-data environment.
• Automated KYC and KYB, with OFAC / sanctions screening and ongoing transaction monitoring.
• Role-based admin portal with audit-ready, downloadable reporting.
• Integration endpoints must pass Vulnerability Assessment & Penetration Testing (VAPT) before going live.

The programme operates on regulated payment infrastructure; full regulatory details for your jurisdiction are provided during onboarding.

Pair It With an EU IBAN

The USD virtual account works alongside the Monvenience EU LT IBAN account - a separate account, managed from a different dashboard. A common setup: the EU IBAN handles SEPA/euro business across Europe, while the USD account collects dollar-denominated client payments and runs global payouts. See our country-by-country EU IBAN guides for the European side.

Frequently Asked Questions (FAQ)

1. Who can open a USD account?

Any individual or business in an accepted jurisdiction whose activity is not on the restricted list. Business accounts are issued in your company's own name after a one-time verification; personal accounts are issued in your own name.

2. Do I need to visit a branch?

No. The account is opened and run entirely online - there is no branch visit and no requirement for a local office or presence in the US.

3. Which currencies can I collect in?

You can receive payments in a wide range of source currencies from supported countries; funds are converted and settled into a single USD balance.

4. How fast can I receive my account?

70% of accounts are activated within 72 hours of a completed application.

5. Is this the same account as the Monvenience EU IBAN?

No. The USD virtual account is a separate account from the EU LT IBAN, managed from a different dashboard. Many clients hold both - the EU IBAN for SEPA/euro business and the USD account for dollar-denominated collections and payouts.

6. What are the limits?

Collections support high-value transactions of up to USD 3.6 million (SGD 5 million) per transaction. Cross-border payouts on local corridors support up to USD 100,000 per transaction, with SWIFT available for larger transfers. Card limits after full KYC reach up to USD 500,000 per transaction and USD 1,000,000 per month. Limits are confirmed for your specific profile during onboarding.

7. What does it cost?

A full schedule of account, transaction, and card fees is provided during onboarding, before you commit. Indicative card-usage fees are network pass-through charges: ATM withdrawal 1%, cross-border 1.7%, and forex 1.7%.

8. How are my funds tracked and reconciled?

Incoming payments are validated against your entity name and reconciled automatically, with real-time webhook alerts and full reporting in the admin portal.