How to register an international account

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Bitso has partnered with Circle’s group, a registered money transmitter, to help you send and receive USD international transfers from your own account or third parties.

Bitso allows you to send and receive international transfers across countries. To comply with regulations and make sure your transfer runs smoothly and safely, Bitso needs to know the international account you will be interacting with.

You can only receive or send funds if you previously registered an international bank account in Bitso.

 

What is the difference between registering for sending and receiving?

Registering accounts is a must do both for when you are receiving a deposit or sending funds via international transfer.

For sending funds, this is a common practice and it works just like in any banking services: to make sure that your money is going to the right person, in the right place.

For receiving deposits, it plays another key role. The partnership between Bitso and Circle’s group makes it possible to receive international transfers from third parties (besides from accounts under their own name) and also complies with security measures, but only when the sender is a known party. Registering a sender is what guarantees that the Circle's group can perform the transaction safely.

 

How to register an account

Registering an account is easy and fast.

You only need to follow this process once for each account you want to register. After the account registration is completed, you will be able to send and receive funds as many times as you want from each registered account, until you reach your account limits.

You can go to the Account Limits section in your profile to check your current limit or to request an increase. Whether you want to deposit or send, you will need to register an account and complete all the fields with the account information. Before you do so, go to your bank site and collect all the needed information. In case you’re making a transaction with someone else, ask the sender or receiver to provide you all the following details:

  • Person or company name: full name of the person or company that owns the account you want to register.
  • Bank: bank of the account you want to register..
  • SWIFT code/IBAN number: depending on the bank country, you’ll get asked either the SWIFT code or the IBAN number. These can be easily found in your bank site or contacting the entity.
  • Account number: Up to 22 digits number that identifies the account you want to register. You’ll only need the account number for SWIFT transfers, for IBAN is not requested.
  • Street number and name: street number and name for the address of the person or company who owns the account.
  • Apt/suite/unit: optional field to add apartment, suite, floor, or other secondary address information.
  • City: city where the account was registered.
  • Zip code: zip code from where the account was registered.
  • Country: country where the account was registered.
  • State: state of the person or company who owns the account.
  • Contact email: email of the person or company who owns the account. Bitso will use this email to send updates about the transactions.

 

Most common mistakes when registering an account

To avoid any delays or issues with your transfers, please make sure to double-check:

  • Person or company name: the name needs to match the name of the account holder. It needs to be the exact same or the international transfer can be rejected.
  • Address: make sure to enter the address of the account holder, not the bank address.
  • Extra verification process: Some banks require an additional verification process before the transfer can be made. If you have any doubts, please contact the recipient or sender bank.

In case you make a mistake, you can always delete the account and register it again.


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