Important Changes To Deposits to USD Virtual Accounts (28/10/2024):
Transaction Review Period: All transactions will remain pending for a period of up to 3 days. Please share information and supporting documents showing the relationship between the sender and you (the recipient). Dependent on the outcome of the review, a transaction will be released & processed, or declined and returned to source through the bank processing partner.
What is a USD Virtual Account Number, and what is its purpose?
A USD Virtual Account Number is a unique bank account number denominated in United States Dollars (USD). This virtual account allows you to receive USD payments, transfers, and deposits from platforms such as Upwork, Deel, Payoneer, Gusto, Fiverr, TikTok, etc.
Types of payments we support
First-Party Payments: Someone sending funds to himself.
For example, John Doe sends funds to himself via Wise, where the name on the Wise account matches the name on his Chipper account.
Payroll Payments: A payroll platform distributing payroll to an individual.
For example, ABC Resource distributing payroll to John Doe.
Business Payments: Businesses paying contractors or vendors.
For example, XYZ Widgets sending a payment to John Doe for services rendered.
International ACH Transactions (IATs) from platforms like PayPal, Apple, and Amazon.
Other Frequently Asked Questions
❗How do I contact support for USD Virtual Account inquiries and complaints?
Please direct all support queries to Chipper Cash, not Lead Bank. Our team is equipped to handle all your requests and forward them as needed. Contacting the bank partner may result in full bank support fees directly charged to your account.
Additionally, please note that Lead Bank will not provide you with direct account numbers. That's why we're here to offer you this service 💜
Is the USD Virtual Account available globally?
Is the USD Virtual Account available globally?
At the moment, this is available to verified Nigerian and Ghanaian customers seeking methods to get paid internationally.
We are already working to launch this in other African countries.
What type of Bank Account is the USD Virtual Bank Account? Personal or Business Checking account?
What type of Bank Account is the USD Virtual Bank Account? Personal or Business Checking account?
It is a Personal Checking account.
How much is the USD Virtual Account creation fee? Why was I charged?
How much is the USD Virtual Account creation fee? Why was I charged?
The account creation fee is GHS 60 / NGN 5,000. It's important to note that this fee covers various aspects of account setup and security measures. We strive to provide a reliable and secure platform for your financial transactions, and this fee contributes to maintaining the quality of our services.
Is the account creation fee refundable?
Is the account creation fee refundable?
No, the account creation fee is non-refundable.
How long does it take to create and start using my USD Virtual Account?
How long does it take to create and start using my USD Virtual Account?
The USD account number is issued upon the completion of the review process, which can be instant or take up to 48 hours.
What fees apply to the USD Virtual Account?
What fees apply to the USD Virtual Account?
Deposit Fee
ACH Transfer - 0.75% of the transaction amount received.
Monthly Maintenance Fee - USD 1.50 Monthly.
USD Virtual Account Fee - GHS 60 / NGN 5,000
Where will the funds received via this account number go (be credited into)?
Where will the funds received via this account number go (be credited into)?
Any funds sent to your Chipper USD virtual account number will be credited to your Chipper USD wallet.
What is the timeline for ACH Transfers?
What is the timeline for ACH Transfers?
ACH transfers typically take 1-3 banking days to be completed (Please note that this excludes weekends and public holidays).
A micro-deposit was sent to my USD Virtual Account with a 3-letter code. How do I get it?
A micro-deposit was sent to my USD Virtual Account with a 3-letter code. How do I get it?
The micro-deposit sent will be credited to your Chipper USD balance and may take 1 day to reflect. The 3-letter code is usually in the narration of the transaction.
My funds are missing or have not landed in my Chipper USD Virtual Account. What do I do?
My funds are missing or have not landed in my Chipper USD Virtual Account. What do I do?
If funds have been sent from a bank account to your Chipper USD virtual account, please ask the sender to request a Trace ID (for an ACH transfer) from their bank. Providing this information will help us track down the transaction faster.
The sender's bank doesn't recognize the Routing Number of my Chipper USD Virtual Account. What do I do next?
The sender's bank doesn't recognize the Routing Number of my Chipper USD Virtual Account. What do I do next?
The correct routing number for your USD virtual account number is 101019644 (Lead Bank).
The American Bankers Association (ABA) also provides an online lookup tool for routing numbers, which can be accessed here. If you encounter any errors, please contact your bank's support and inform them that these routing numbers are listed on the websites mentioned above and should be recognized to support ACH payments.
Does Chipper support SWIFT payments or provide SWIFT codes for the USD Virtual Account?
Does Chipper support SWIFT payments or provide SWIFT codes for the USD Virtual Account?
No, the Chipper USD virtual account does not support swift payments. It only supports ACH transfers.
Is it possible to receive money from a Nigerian USD domiciliary account with this USD Virtual Account?
Is it possible to receive money from a Nigerian USD domiciliary account with this USD Virtual Account?
No. The USD Virtual Account is specifically for receiving international USD transfers and payments. It is not intended for receiving transfers from Nigerian USD domiciliary accounts.
Do I need to create a USD Virtual Account to get a Chipper USD Virtual Card?
Do I need to create a USD Virtual Account to get a Chipper USD Virtual Card?
No, the USD virtual account and the USD virtual card are two distinct products. The USD virtual account is for receiving USD payments to remit, while the USD virtual card is for making online payments if available in your jurisdiction.
Is there a minimum balance requirement for the USD Virtual Account?
Is there a minimum balance requirement for the USD Virtual Account?
None at the moment. However, ensure you have the minimum amount to pay the subscription / maintenance cost of the USD account channel for remittances.
Is there a limit to the number of transactions I can make with the USD Virtual Account?
Is there a limit to the number of transactions I can make with the USD Virtual Account?
There is no limit to the number/count of transactions flowing into the USD account channel. Regular banking limits apply.
How long would it take before the USD Virtual Account expires?
How long would it take before the USD Virtual Account expires?
It does not expire.
Do you need further assistance?