FAQ: Send US domestic wires to a Bitso account

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What are US Domestic Wires?

US domestic wire transfer is one of the fastest ways to send and receive money from a banking account to another. Traditionally, a domestic wire transfer means sending money from banks inside the same country, but with Bitso, you can send and receive USD from a US-based bank account directly to a Bitso account.


Which bank accounts can send a US domestic wire?

The US domestic wire is a service available only for banks based in the US. However, there are some banks that can't support these wires: List of non-supported banks for US domestic wires.


Do I need to send an international transfer or SWIFT?

No. Bitso's users can receive domestic wires from US-based bank accounts.


Can I use Zelle or ACH?

No, but we're working on offering you more options.


Why is the recipient "Circle Internet Financial Ltd"?

Circle Internet Financial Ltd is the name of the business recipient you need to make the wire to. You have to use this name and not any other one. Bitso has partnered with Circle's group to process US domestic wires and it's the money transmitter in charge of directing the wires to the Bitso account.


Which type of account receives the funds?

You'll wire to a business account that directs the funds to the Bitso account.


How much time takes a wire transfer?

Usually, it takes an average of 6 business hours, depending on countries, holidays and other special situations. In moments when the network is too overloaded, domestic wires can take up to 48 business hours).


Is there a limit on the amounts I can send?

Yes. Each Bitso account has monthly limits to receive funds. Contact the receiver to know how much USD you can send them. 


What is the reference code and why is it so important?

The reference code is the code you must fill in the "Description", "Memo" or "Message" fields (the name of this field varies depending on the bank). This helps Bitso track your wire and make sure that the amount will be deposited without charging any fees. Even if your bank form states that this field is optional, for this transaction, it is mandatory. If it is unfilled, the wire will be rejected and your bank may charge you fees.


Can I add an extra reference field to the wire?

Wires that require an extra reference field can't be done at the moment. But we are working to improve it and add this functionality to the US Domestic Wires soon.


Can I send the wire from a different account?

No. The Bitso user needs to register your account before you send them the wire. The authorization comes with specific instructions for each bank account. If you want to send them wires from a different bank account, you'll have to tell them to register it.


Am I going to get notified when the US wire completes?

Yes. Bitso will send you emails notifying you about each US wire status.


What are the different US wire statuses?

  • Completed: The US wire was successful and the Bitso user received the amount.
  • On hold: The US wire is being held by Bitso because the amount received is bigger than the rreceiver'smonthly limits of Bitso.
  • Returned: The US wire was returned to your bank account.

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