> For the complete documentation index, see [llms.txt](https://docs.allscale.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.allscale.io/virtual-account/virtual-account-introduction.md).

# Virtual Account Introduction

Receive USD, settle in USDC, and withdraw to a bank.

<figure><img src="https://2108479947-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FVKjrAbl5fdUEwikY5vaB%2Fuploads%2FUuW1uPrOvcWbSg5VZCJw%2Fimage.png?alt=media&amp;token=fb23e039-54d1-4e67-96a9-878ab14841d0" alt=""><figcaption></figcaption></figure>

## A U.S. bank account in your name

**Individuals and businesses in most countries and regions can open a U.S. bank account in their own name with AllScale.** You do not need to live in the United States or have a U.S.-registered company to apply. Availability is subject to regional restrictions and identity or business verification.

Whether you are a freelancer, an online seller, or a small business serving international customers, you can give customers your own U.S. bank details to pay you in USD.

Receive USD by **ACH, U.S. Wire (Fedwire), RTP or FedNow**, and have incoming funds automatically converted to USDC at a **1:1 rate**, with no exchange-rate spread. The platform fee is deducted before the net amount is credited to your wallet.

You can also convert supported stablecoins in your wallet to USD and send the funds to a bank account through an available withdrawal channel.

## What you can do

* **Receive USD:** Share your receiving account details with a payer or include them on an invoice. Once funds arrive, conversion and wallet crediting happen automatically.
* **Choose a settlement network:** Receive USDC on Ethereum, Base, or Polygon. Additional receiving accounts and USDT settlement are available when enabled for your account.
* **Withdraw to a bank:** Send USD through U.S. ACH, U.S. Wire, or USD SWIFT to supported destinations. Available channels and assets depend on your account's access.
* **Track your transfers:** View progress, amounts, and itemized fees in your account, with email updates as transfers progress.

## Before you get started

Virtual Accounts are available to individuals and businesses, subject to identity or business verification. After approval, choose a settlement network to complete your account setup.

There are currently **no account-opening or monthly fees**. The default platform fee for receiving and withdrawing funds is **0.6%**, though custom rates may apply. Withdrawals also include a network fee and, for some transfer options, a fixed fee.

Transfers are subject to bank processing times, weekends, and bank holidays. Check the relevant guide below for fees and timing, and use the options, rates, and limits displayed in your account.

## Quick Links

{% content-ref url="/pages/kleulOrP6ZF5cQqfQwyI" %}
[Open your Virtual Account](/virtual-account/open-your-virtual-account.md)
{% endcontent-ref %}

{% content-ref url="/pages/KmUD29JRvxhU2tEYUIlU" %}
[Receive USD / On-ramp](/virtual-account/receive-usd-on-ramp.md)
{% endcontent-ref %}

{% content-ref url="/pages/59uzX4VSfBxpcbk88K2I" %}
[Withdraw USD / Off-ramp](/virtual-account/withdraw-usd-off-ramp.md)
{% endcontent-ref %}