Create a Receiving Account
A Receiving Account is a set of bank account details in your name that allows you to collect bank transfers in single or multiple currencies.
With the World Account, you'll be able to open both single-currency and multi-currency Receiving Accounts in over 20+ multiple currencies.
Single-currency account
- Single-currency account allows you to receive payments in single currency.
- Overseas buyers can make a fund transfer to your corresponding WorldFirst single-currency account through their local bank accounts, which is cost-effective and quick to receive.
- 8 currencies are supported for direct deposit: JPY, SEK, PLN, ZAR, HUF, RON, NOK, CHF.
Multi-currency account
Multi-currency account is a single account that allows you to receive payments in multiple currencies.
- Your overseas buyers can use international bank transfer (T/T) to pay to your WorldFirst Multi-currency account.
- The top 10 major currencies in the world that WorldFirst supported: USD, EUR, GBP, HKD, CNH, CAD, SGD, JPY, AUD, NZD.
- Various currencies can be deposited as USD. Refer to the table below for more details.
By providing your payers with the account details, they will be able to make bank transfers to you and the funds will be reflected in your World Account balance.
Your World Account holds the pooled balance of all your Receiving Account collections by currencies. For example, you can have multiple USD Receiving Accounts, but funds transferred to all of them will be reflected in your USD World Account balance.
Note: You can open up to 20 Receiving Accounts in any currency denomination we offer. If you need additional Receiving Accounts, please contact your account manager.
Create Receiving Account for your customers
If you are a platform service provider that want to settle funds swiftly with your customers based in China using WorldFirst Receiving Account, but they do not have one, you can redirect them to the WorldFirst portal and authorize WorldFirst to create a Receiving Account for them.